EUR/JPY - Weekly and monthly pivot points and signals, for February 18 - 23, 2013 Trend News

The EUR/JPY pair is trading in the range 1.27 to 1.23. This week it has an uptrend, although exhausted. This pair will depend on the euro, if the euro manages to overcome the level of 1.34, this pair could rise rapidly to the level of 128.50. On the other hand, if the Japanese yen strengthens again, it could put downward pressure on the pair to 1.2290 support. (W_1). Therefore, if you are trading this pair, it is recommended to watch the major pairs separately. We have outlined the likely movements and signals, they can be found below.

125.00 and 124.92 are weekly and monthly pivot points for this week for EUR/JPY.

Signals for February 18 - 23, 2013

Buy above 125.05 with take profit at 127.00 and 128.90 (W_R2), stop loss is below 124.10.

Sell if it closes below 124.50 (W_PPV) with take profit at 122.91 (W_S1), stop loss is above 127.80.

____WEEKLY_____

Weekly - R3 = 130.99

Weekly - R2 = 128.96

Weekly - R1 = 126.95

Weekly Pivot = 124.92

Weekly - S1 = 122.91

Weekly - S2 = 120.88

Weekly - S3 = 118.87

If you would like to get this indicator, feel free to contact me via e-mail: gerardo.porras@analytics.instaforex.com

____MONTHLY____

Monthly - R3 = 135.06

Monthly - R2 = 131.92

Monthly - R1 = 128.22

Monthly Pivot = 120.88

Monthly - S1 = 117.18

Monthly - S2 = 109.84

Monthly - S3 = 106.14

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Silver support holds at 29.22. Bullish setup intact Trend News

Technical outlook and chart setups:

As depicted on the daily chart view here, structurally, there is no change in the direction or bullish setups. The recent downswing from 32.50 seems to have been completed ahead of the swing lows at 29.22 and is in 3 waves. Support at 29.22 holds well for now, and bulls should be now poised to break through higher. Immediate resistance is seen at the 32.50 region from here. It is recommended to hold long positions and finally add the remaining capacity if possible now. Looking higher from here on.

Trading recommendations:

Hold on to long positions, add further now (30.00/05), stop is at 29.00, and target is open.

Good Luck!

The material has been provided by InstaForex Company - www.instaforex.com



For detail explanation and best discovery on market trends you may visit via Silver support holds at 29.22. Bullish setup intact . Thanks for your support on Silver support holds at 29.22. Bullish setup intact

Gold breaks 1,620.00. Still too early to confirm reversal Trend News

Technical outlook and chart setups:

No doubt, the yellow metal has printed fresh lows taking us out at 1,620.00 region last Friday. We again re-look at the Daily chart here, which is confirming 1,595/96 as a strong Fibonacci support as depicted here (orange line). Furthermore, that is probably the end of the Gartley, that begun from 1,798.00 level. The support trendline passing through is not yet technically broken for prices to indicate downward acceleration as of now. Support region is 1,550/70, while resistance is 1,694.00 at the moment. It is still recommended to go long on dips from here on.

Trading recommendations:

Go long 50% of capacity now (1,614.00), remaining 50% between 1,580 and 1,600, stop is at 1,550.00. Target is open.

Good Luck!

The material has been provided by InstaForex Company - www.instaforex.com



For detail explanation and best discovery on market trends you may visit via Gold breaks 1,620.00. Still too early to confirm reversal . Thanks for your support on Gold breaks 1,620.00. Still too early to confirm reversal

EurJpy bounces off the support line. Hold on long positions. 123.00 immediate support Trend News

Technical outlook and chart setups:

As shown on the 4H chart view here, prices have bounced off the trendline that extends long-term support around 123.00 mark. Intermediary support is at 123.00 at the moment, followed by 121.00, while resistance is spread across 126.00, 127.90/128.00, and 129.00 respectively. It is recommended to hold on the long positions taken last week around 123.20/30 region for an extended rally. Intraday dips could be considered as opportunities to go long again.

Trading recommendations:

Hold on to long positions taken earlier, add longs on intraday dips. Stop is at 122.00 and target is at 129.0

Good Luck!

The material has been provided by InstaForex Company - www.instaforex.com



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GbpChf downside expected accelerate. Recommended go short again (1.4280/85) Trend News

Technical outlook and chart setups:

As depicted on the 4H chart view here, the single currency pair is consolidating after reversing from the 1.4500 region last week. Intermediary resistance is at 1.4500/20 region, while support is at the 1.4170/80 level respectively. The current price action is suggestive of a possible decline from here, rather than 1.46/47 levels. Till the time 1.45 level is intact, it is recommended to short intraday/intraday rallies targeting fresh swing lows. Look for lower lows and lower highs to continue.

Trading recommendations:

Go short now (1.4280/85). Stop is at 1.45. Target is at 1.39/1.38.

Good Luck!

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