Gold stalling around 1,700. Buy cautiously at the moment Trend News

Technical outlook and chart setups:

The overall bullish structure, as depicted on the daily chart view here, remains unchanged for now. Furthermore, the prices are wanting to break above 1,700 mark towards 1,740/50 levels at least. If it fails, it may bring the prices down to the 1,635/40 mark before rallying further up. 1,626.00 has been defined as major support and till the prices stay above it, Gold remains buy on dips. Intermediary resistance is at 1,690/95, as immediate; bulls need to clear that to rally further up.

Trading recommendations:

Hold on the long positions, stop is at 1,630.00, and target is open.

Good Luck!

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EurJpy: A pullback is awaited. Prepare to go short Trend News

Technical outlook and chart setups:

As depicted on the 4H chart view here, the single currency pair has rallied past the 126.50 mark comfortably as it was expected. According to the weekly chart, a major resistance is now at 127.90/128.00 levels, hence it is quite possible that a last rally takes out 127.90 level before the prices finally give up. Looking into the smaller timeframes we may conclude, the charts have already been overbought and a technical correction is required now. Immediate price support on the chart is just below 122.00. It is recommended to restrict buying at the moment; rather look out for selling opportunities.

Trading recommendations:

Aggressive traders can go short 50% now and 50% if prices reach 127.90, stop is at 128.50, and target is open.

Good Luck!

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



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GbpChf approaches major support close to 1.4200. Expect a pullback rally Trend News

Technical outlook and chart setups:

As depicted here on the Daily chart view, the single currency pair has nearly approached a major support at 1.4200 level on Friday. It is high probability for a pullback rally (3 waves) should materialize any time now towards at least 1.4800 mark. A major head and shoulder reversal might be under formation, if a rally begins now. It is highly recommended to look for long opportunities around price action now for a 500/600 pip rally.

Trading recommendations:

Buy now. Stop is at 1.4150. Move target towards 1.4800.

Good Luck!

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



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Silver: Uptrend remains intact. 29.22 major support Trend News

Technical outlook and chart setups:

As depicted on the daily chart view here, the overall bullish structure remains intact. 29.22 is defined as major support (trend defining). There is still a possibility that prices fall towards the 30.30/50 region before rallying past fresh highs. At the moment, intermediary support is at 30.70/75 and should prices hold, Silver would rally towards 34.50/60 straight from here. It is recommended to buy on dips till 29.22 remains intact.

Trading recommendations:

Hold long positions, stop is at 29.00, and target is open.

Good Luck!

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



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