EUR/USD sell bellow 1.3398 - for January 24, 2013 (daily strategy) Trend News

The euro continues to consolidate above the 1.33 level this morning in the American session. According to the technical analysis, this pair has a very strong resistance at 1.3398 and this level is the 61.8% retracement of Fibonacci, the long-term downtrend. If the pair closes above 1.34 it is most likely that in the coming months this pair may be trading up to 1.40, next target for the bulls.

From my analytical perspective, I think this pair should make a correction to 1.31 and then take upward force. But we must be very cautious with this pair, because the last few weeks the market has been moving only by emotions. Now it is time to decide which way you want to go, downward or upward. You must be very attentive to the breaks of 1.34 or 1.3240.

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 sell bellow 1.3398 - for January 24, 2013 (daily strategy) . Thanks for your support on EUR/USD sell bellow 1.3398 - for January 24, 2013 (daily strategy)

Silver pulls back just shy of 32.50. Possibly it is just a retracement Trend News

Technical outlook and chart setups:

As depicted on the 4H chart view here, the prices remained just shy of resistance at 32.50 by 3-4 cents before pulling back. The move towards 32.00 level can still be considered as retracement at the moment. Chart supports are spread through 31.00, 30.00, and 29.20, while resistance begins from 33.60/70 levels, followed by 34.30/40, and 35.10/20 respectively. It is recommended to go long again and build on positions taken earlier.

Trading recommendations:

Hold on to long positions taken earlier, build further at current levels, stop is at 30.00, and target is open.

Good Luck!

The material has been provided by Instaforex Company - http://www.instaforex.com/



For detail explanation and best discovery on market trends you may visit via Silver pulls back just shy of 32.50. Possibly it is just a retracement . Thanks for your support on Silver pulls back just shy of 32.50. Possibly it is just a retracement

Gold pulls back to 1,682/83. Another long opportunity Trend News

Technical outlook and chart setups:

As shown on the 4H chart view here, the prices have just pierced the line of support printing intraday lows at 1,682/83 levels. This may not be a line break yet and a daily chart confirmation would be required to conclude further bearish scenario in the yellow metal. Supports are spread across 1,660/65 levels, through 1,650.00, and 1,630.00; while resistance begin from 1,710/15, followed by 1,725/30, and 1,750.00 respectively. A bullish bounce is expected from the current levels (1,682/83) and it is recommended to build further long positions from here.

Trading recommendations:

Hold long positions and build further long at current price (1,682/83), stop is at 1,630.00, and target is open. Please book partial profits higher up to 1,725/30 levels.

Good Luck!

The material has been provided by Instaforex Company - http://www.instaforex.com/



For detail explanation and best discovery on market trends you may visit via Gold pulls back to 1,682/83. Another long opportunity . Thanks for your support on Gold pulls back to 1,682/83. Another long opportunity

EurJpy holds 116.40 level. Stay long, expect a rally to materialize at least till 1.4950/60 Trend News

Technical outlook and chart setups:

As depicted on a 4H chart view here, the single currency pair has broken the inner line of support but at the same time 116.40 level has been held well till now. This might be an indication that a huge trend reversal may not be yet on cards. Furthermore, the 0.786 Fibonacci support level is also holding well and a rally might just be under way today. As seen here, the rally could easily extend up to 119.50/70 level before it hits the backside of the inner trendline which would provide a resistance now. A break above 120.00 level would be required to confirm further rally towards 121.00 level. It is recommended to hold long positions at least till 119.50.

Trading recommendations:

Hold long positions, stop is at 116.50, and target is 119.50/70.

Good Luck!

The material has been provided by Instaforex Company - http://www.instaforex.com/



For detail explanation and best discovery on market trends you may visit via EurJpy holds 116.40 level. Stay long, expect a rally to materialize at least till 1.4950/60 . Thanks for your support on EurJpy holds 116.40 level. Stay long, expect a rally to materialize at least till 1.4950/60

GBP/CHF may retrace; covering short positions is favoured Trend News

Technical outlook and chart setup:

As depicted in the 4H chart view here, the price action since 1.4670 can be defined as consolidation. The single currency pair has been confined between 1.47 and 1.4950 price band since then and needs a clear breakout of either of the levels to trade with conviction. Higher up resistance levels are placed at 1.5050 and 1.5150, while support is at 1.46 and 1.45 respectively. As seen here, prices did manage to breach the 1.47 mark for a meager 20/25 pips, but stayed above the counter trend line of support. Keeping these facts in mind, it is recommended to cover the short positions taken earlier.

Trading recommendations:

1. Conservative: Cover short positions if taken earlier. Flat for now.

2. Aggressive: Go long again, stop at 1.4650, target open.

Good luck!

The material has been provided by Instaforex Company - http://www.instaforex.com/



For detail explanation and best discovery on market trends you may visit via GBP/CHF may retrace; covering short positions is favoured . Thanks for your support on GBP/CHF may retrace; covering short positions is favoured

Silver pulls back just shy of 32.50. Possibly it is just a retracement Trend News

Technical outlook and chart setups:

As depicted on the 4H chart view here, the prices remained just shy of resistance at 32.50 by 3-4 cents before pulling back. The move towards 32.00 level can still be considered as retracement at the moment. Chart supports are spread through 31.00, 30.00, and 29.20, while resistance begins from 33.60/70 levels, followed by 34.30/40, and 35.10/20 respectively. It is recommended to go long again and build on positions taken earlier.

Trading recommendations:

Hold on to long positions taken earlier, build further at current levels, stop is at 30.00, and target is open.

Good Luck!

The material has been provided by Instaforex Company - instaforex.com



For detail explanation and best discovery on market trends you may visit via Silver pulls back just shy of 32.50. Possibly it is just a retracement . Thanks for your support on Silver pulls back just shy of 32.50. Possibly it is just a retracement

Gold pulls back to 1,682/83. Another long opportunity Trend News

Technical outlook and chart setups:

As shown on the 4H chart view here, the prices have just pierced the line of support printing intraday lows at 1,682/83 levels. This may not be a line break yet and a daily chart confirmation would be required to conclude further bearish scenario in the yellow metal. Supports are spread across 1,660/65 levels, through 1,650.00, and 1,630.00; while resistance begin from 1,710/15, followed by 1,725/30, and 1,750.00 respectively. A bullish bounce is expected from the current levels (1,682/83) and it is recommended to build further long positions from here.

Trading recommendations:

Hold long positions and build further long at current price (1,682/83), stop is at 1,630.00, and target is open. Please book partial profits higher up to 1,725/30 levels.

Good Luck!

The material has been provided by Instaforex Company - instaforex.com



For detail explanation and best discovery on market trends you may visit via Gold pulls back to 1,682/83. Another long opportunity . Thanks for your support on Gold pulls back to 1,682/83. Another long opportunity

EurJpy holds 116.40 level. Stay long, expect a rally to materialize at least till 1.4950/60 Trend News

Technical outlook and chart setups:

As depicted on a 4H chart view here, the single currency pair has broken the inner line of support but at the same time 116.40 level has been held well till now. This might be an indication that a huge trend reversal may not be yet on cards. Furthermore, the 0.786 Fibonacci support level is also holding well and a rally might just be under way today. As seen here, the rally could easily extend up to 119.50/70 level before it hits the backside of the inner trendline which would provide a resistance now. A break above 120.00 level would be required to confirm further rally towards 121.00 level. It is recommended to hold long positions at least till 119.50.

Trading recommendations:

Hold long positions, stop is at 116.50, and target is 119.50/70.

Good Luck!

The material has been provided by Instaforex Company - instaforex.com



For detail explanation and best discovery on market trends you may visit via EurJpy holds 116.40 level. Stay long, expect a rally to materialize at least till 1.4950/60 . Thanks for your support on EurJpy holds 116.40 level. Stay long, expect a rally to materialize at least till 1.4950/60