Silver Rally To Resume Soon,. Hold Long Positions.. Trend News

Technical Outlook and Chart Setups:

As 4H chart shows, the metal seems to have formed a base just shy of the 30.50 mark. The 30.70 level should provide strong support for the expected rally which should take prices to 33.60/70 levels in the sessions to come. Intermediary resistance is at the 32.30 and 32.50 levels which should be taken out comfortably by the bulls. It is hereby strongly recommended to hold earlier long positions and take fresh longs as well today. Look higher now.

Trading Recommendations:

Hold on to earlier long positions, take fresh long now (30.85), stop at 29.00, target open.

Good Luck !

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Gold Is Preparing TO Rally Now. Stay Long Around 1640/45 Trend News

Technical Outlook and Chart Setups:

As shown in the 4H chart here, the platform is set for the yellow metal to start an impressive rally towards 1720/40 levels in the coming sessions. Bottom is formed just around the 1640.00 mark which should remain well supported while resistance is around 1675/80 and higher. It is strongly recommended to hold long positions taken earlier and further longs can be built today as well (1645.00). Gold is scheduled to target 1710/20/50 levels on the higher side breaking all past resistance. Look higher now.

Trading Recommendations:

Hold long positions, go fresh longs, stop at 1620.00 (to be revised), target open.

Good Luck !

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GbpChf Risk/Reward Ratio Is Good To Go Long Now. Trend News

Technical Outlook and Chart Setups:

As seen from the Daily chart view presented here, the single currency pair might be preparing for a counter trend rally soon towards the 1.4600/1.4700 mark, which is past support turned to resistance. Furthermore, the area is marked with 0.618 Fibonacci resistance level as shown here. Intermediary support remains at 1.4170/80 level while resistance starts from 1.4600/1.4700. Considring the risk/reward ratio and the possibility of a counter trend rally, it is recommended to go long at the moment (1.4241).

Trading Recommendations:

Go long now at 1.4240/45, stop at 1.4150, target 1.46/1.47.

Good Luck !

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Silver: Bullish Structure Remains Intact. 30.70 Is Intermediary Support Trend News

Technical Outlook and Chart Setups:

As depicted on 4H chart, the metal bounced off 30.70 level yesterday to 30.50 area, as expected. It would not be surprising to see a base forming around 30.50 mark still, since Fibonacci 0.618 support is passing through the same levels. More or less, the structure remains quite constructive for bulls to form a strong base and rally from here on. Support region is at 30.50/70 while resistance is 32.25 immediately. It is recommended to enter fresh long positions now.

Trading Recommendations:

Hold long positions and build fresh positions as well, stop at 29.00, target open.

Good Luck !

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Gold Bounces From 1640.00 Levels. Looking Higher Now Trend News

Technical Outlook and Chart Setups:

As depicted on 4H chart, Gold seems to have completed a 3 wave correction yesterday at around 1640.00 level before reversing sharply. Smaller time frames suggest that a reversal is just around these levels. Furthermore the 1640.00 area is re-enforced by Fibonacci 0.786 retracement/support level of the upswing from 1626.00 to 1694.00 recently. It is strongly recommended to take fresh long positions between 1640/50 and also hold on to earlier longs. Bulls will be targeting 1750.00 level from here on. Looking higher now.

Trading Recommendations:

Hold on to earlier long positions, take fresh longs as well, stop 1620.00 (shall be revised soon), target open (book partial profits at 1750.00).

Good Luck !

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EurJpy Upside Potential Remains. It Is Recommended To Exit Short Positions. Trend News

Technical Outlook and Chart Setups:

As depicted on 4H chart, the single currency pair behaved in line with short recommendations of 126.00 level yesterday. It is still possible that a fresh high (as shown here) is taken before reversing sharply. Intermediary support is in 123.50 region while resistance is at 127.90/128.00. At the moment, recommendations are to cover short positions taken yesterday since the prices have stalled around 124.80 area, re-enforced by Fibonacci support level. A bullish bounce here could possibly stage an impressive rally towards 129.00 level.

Trading Recommendations:

1. Book profits on short positions taken from 126.00 level.

2. Aggressive traders could go long at current value 125.30, stop at 123.00, target 129.00

Good Luck !

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GbpChf Structure Remains Unchanged For Now. 1.4700 Is Strong Resistance Trend News

Technical Outlook and Chart Setups:

As depicted here on 4H chart, the overall structure remains unchanged for the moment. Intermediary resistance is just above 1.4500 level, followed by strong resistance at 1.4700 (Fibonacci 0.618 of fall between 1.5 and 1.4170). A short term rally can materialize towards the 1.47 levels before reversing towards fresh lows. It is recommended to cover short positions from 1.45 levels and plan to sell any rallies towards the 1.46-1.47 level. Intermediary support is at 1.4170 for now.

Trading Recommendations:

Cover short positions taken earlier. Flat for now; plan to sell rallies.

Good Luck !

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