Gold: Bullish trend remains intact. 1,700/20 in sight now Trend News

Technical outlook and chart setups:

A 4H and Daily Chart views are presented here for further clarity. As seen on the 4H view, counter (down) trendline seems to be broken and the prices are ready to break higher above 1,690.00 level. The immediate up trendline support is also seen. It is around 1,675.00 at the moment and increasing with time. Price support levels are lined up from 1,673.00, 1,665.00, 1,645.00 and lower; while resistance begins from 1,694.00 and extends through 1,700/20 and 1,750/52 on the higher side. Daily chart view remains structurally unchanged for now. With the above 2 chart view confirmations, it is recommended to hold long positions taken earlier with fresh swing high target. Looking higher from here on.

Trading recommendations:

Hold on to long positions. Stop is at 1,600/10 (it will be revised soon). Target is open.

Good Luck!

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For detail explanation and best discovery on market trends you may visit via Gold: Bullish trend remains intact. 1,700/20 in sight now . Thanks for your support on Gold: Bullish trend remains intact. 1,700/20 in sight now

EurJpy completes retracement/pullback near 116.50. Prepare to go long now Trend News

Technical outlook and chart setups:

The single currency pair seems to have completed retracement/pullback from the preferred resistance above 120.00, around the 116.50 region. This level is further re-enforced by the 0.5 Fibonacci support of the latest upswing between 114.00 and 120.00, as depicted here. Trendline support is at 114.00, while the next Fibonacci supports are at 116.00 and 115.00 respectively. Resistance is above 121.00 level, which is the Fibonacci extension. It is recommended to go long now (117.19), for further upside possibility above 120.00. Looking higher from here.

Trading recommendations:

Buy now (117.19). Stop is at 115.50. Target is above 120.00.

Good Luck!

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For detail explanation and best discovery on market trends you may visit via EurJpy completes retracement/pullback near 116.50. Prepare to go long now . Thanks for your support on EurJpy completes retracement/pullback near 116.50. Prepare to go long now

GBP/CHF hits trendline resistance and bounces back; selling on rallies favoured Trend News

Technical outlook and chart setups:

A 4H chart view has been depicted here, and, as seen, prices hit the line of resistance around 1.4975/85 region and bounced back producing an evening star. It looks like a lower swing high is in place now around the 1.4975/85 levels and that the next big move should be lower. Higher up resistances are at 1.5050/60 and 1.5160, while support is straight down 1.4670 and 1.46 respectively. It is hence recommended to initiate fresh Sell positions now or on intraday rallies. 1.4925/30 is immediate resistance. Looking lower from these levels.

Trading recommendations:

Sell now (1.4895), add further on intraday rallies. Stop is at 1.5030, target is open.

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GBP/USD buy above fractal 1.5963 - for January 16, 2013 (Daily Strategy) Trend News

The British pound is trading very close to the psychological level of 1.60. It likely that this level will be broken in the next few hours, as the pair has an underlying downtrend. Therefore, our nearest support is at 1.5963, fractal level daily. In the previous months this level offered strong support, as well as the level of 1.6135. Thus, we must be alert to this level of support, so we recommend buying above 1.5963 with targets up, 1.6135, next fractal daily. Technical indicators are showing an imminent rebound to 1.5963.

If you need personal consultation, contact me via e-mail: gerardo.porras@analytics.instaforex.com

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For detail explanation and best discovery on market trends you may visit via GBP/USD buy above fractal 1.5963 - for January 16, 2013 (Daily Strategy) . Thanks for your support on GBP/USD buy above fractal 1.5963 - for January 16, 2013 (Daily Strategy)

EUR/USD weekly pivot at 1.3241 - for January 16, 2013 (Daily Strategy) Trend News

Yesterday the euro fell back to the level of 1.3250, just above the weekly pivot of 1.3241. Yesterday we mentioned in the analysis that this level would offer immediate support, so we see now in the American session the euro bounced above this level. This level is key, so if the euro closes below this level, the fall is secured to the psychological level of 1.30. Thus, we must be very careful at this level; the upward trend will become increasingly stronger above the 1.3240, to the target, 1.35. but the way up is very complicated.

If you need personal consultation, contact me via e-mail: gerardo.porras@analytics.instaforex.com

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For detail explanation and best discovery on market trends you may visit via EUR/USD weekly pivot at 1.3241 - for January 16, 2013 (Daily Strategy) . Thanks for your support on EUR/USD weekly pivot at 1.3241 - for January 16, 2013 (Daily Strategy)

GBP/USD intraday technical analysis and trading recommendations for January 16, 2013 Trend News

The GBP/USD pair started the new year with a sharp bullish move above 1.6300. As we see on the chart, the last push has ended up forming an inverted hanging man daily candlestick indicating a false break above 1.6300 establishing a significant resistance zone.

Bullish retracement took place last week after testing 1.6000, which was capped around 1.6175 (backside of the broken bullish channel and 50% Fibonacci Level).

Prices 1.6115 and 1.6080 were broken down this week confirming the bearish bias for the pair in the short term. However, there is some recovery from Monday’s low at 1.6030 which is located ahead above a critical intraday support zone around 1.6000 -1.5990. The loss of it would trigger considerable bearish momentum towards 1.5960 and then to 1.5900.

Price Levels 1.6080 and 1.6115 should be watched for bearish price action and further SELL entries with SL just located above 1.6220.

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NZD/USD: Technical analysis (strong level: 0.8370 ) for January 16, 2013 Trend News

Overview:

The NZD/USD pair is expected to continue the movement from the point of 0.8370 (it will call for a strong level). Thus, the kiwi shows the signs of strength following the breakdown of the highest level 0.8370. This fact can be considered as a good signal for Buy deals above this strong support (0.8370) with the first targets at 0.8415 and 0.8450 (the level of 0.8450 will serve as a strong resistance and is considered to be appropriate for take profit orders). It should be mentioned that this level will coincide with the weekly resistance 1 (0.8452). However, in case of a reverse movement and if the NZD/USD pair fails to break through the resistance level of 0.8450, the market will further decline to the level of 0.8369 (the weekly pivot point) indicating bearish mood in order to retest the weekly support 1 at the level of 0.8280.

Range : 173 pips.

Technical analysis :

R3: 0.8625

R2: 0.8542

R1: 0.8452

PP: 0.8369

S1: 0.8279

S2: 0.8196

S3: 0.8106

If you have any questions or requests, please feel free to contact me mourad.elkeddani@analytics.instaforex.com.

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Silver breaks first resistance at 31.50 level. Hold on to long positions Trend News

Technical outlook and chart setups:

As depicted here, please note the following:

1. Intermediary downtrend line breaks and the prices are now targeting the outer line.

2. The first immediate resistance level at 31.50 has been taken off by bulls.

3. Minor intraday pullbacks can be expected below 31.00 before further rally begins.

4. The next lined up resistances to be taken out by bulls are at 32.50, 33.60, and 34.30 respectively.

Trading recommendations:

Trend is up. Hold long positions and add further on dips. Move stop to 30.00 level from 29.00. Target is open.

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Gold breaking out of intermediary resistance line. Hold long positions Trend News

Technical outlook and chart setups:

As depicted here, the yellow metal rallied through the 1,680.00 region yesterday without further correcting on the downside, as it was earlier expected. At the moment, the prices are breaking out of the intermediary downtrend line as depicted here and it seem to be poised to rally past 1,794.00 resistance soon. Furthermore, it is lagging behind silver, in terms of breaking the swing highs. Therefore, it is highly recommended to hold long positions and build further on intraday dips near 1,673/75 levels. The trend is up and the prices are headed towards fresh highs in the coming weeks.

Trading recommendations:

Hold on to long positions taken earlier, build further on dips, stop is at 1,600/10 (shall revise soon), and target is open.

Good Luck!

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EurJpy hits measured downside extensions around 118.00. Take profits recommended Trend News

Technical outlook and chart setups:

As depicted here, 120.00 level proved to be strong resistance as expected and the single currency pair retraced sharply down. The measured downside extension of 118.00 has been hit and the prices reached a low at 117.00. It is highly recommended to take profits for short positions taken yesterday since immediate support is at 116.90 and the intermediary line is providing support at 116.00 level respectively. 116.00 level is also re-enforced by the past resistance turned support region. Furthermore, it is suggested to watch out for bullish reversals at current levels (117.00) and enter long positions again.

Trading recommendations:

Book profits on short positions taken yesterday. Looking to buy again on a bounce.

Good Luck!

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For detail explanation and best discovery on market trends you may visit via EurJpy hits measured downside extensions around 118.00. Take profits recommended . Thanks for your support on EurJpy hits measured downside extensions around 118.00. Take profits recommended