EurJpy: Hold on to long positions. 123.00 immediate support Trend News

Technical outlook and chart setups:

Structurally, there is no change since last 3 trading sessions. The prices broke the initial support line, as shown here, and have bounced back sharply from the farther support line around 123.20/30 region last Friday. Immediate support should be around 123.00 levels, followed by 121.00, 117.00 and lower. Please note that a 4H chart view has been depicted here, and hence the trend line supports are closer than the Daily chart view. Resistance is spread through 129.00 to 130.00 levels at least. It is, therefore, recommended to remain long from last week targeting fresh swing highs.

Trading recommendations:

Hold on to long positions taken last week. Stop is at 123.00, and target is at 129.00.

Good Luck!

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GBP/CHF: move down risk to 1.4350 on short positions Trend News

Technical outlook and chart setups:

As depicted in the 4H chart, the currency pair is drifting South below the 1.42 mark, but it is yet to register fresh lows. As shown, 1.4350 is immediate resistance, followed by 1.4500, while intermediary support is in the 1.4150/70 region. It is recommended to hold on to short positions taken earlier and also reduce risk. A breakdown of 1.4170 would push prices rapidly towards 1.3900 and 1.3800 levels respectively.

Trading recommendations:

Hold on to short positions taken earlier, reduce Risk/Move stop lower to 1.4350, target 1.3900/1.3800.

Good Luck!

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AUD/USD Buy above EMA 200 - for February 19, 2013 (Daily Strategy) Trend News

The Australian dollar from its low of 1.0270 which was hit on Monday has managed to recover positions this morning. During the American session it was trading at 1.0340. The pair managed to rise above the 200 day moving average periods and above the 1.0306 fractal. We hope that this pair continues rising slowly to the level of 1.0387, above this level there is the next resistance in 1.0466. Therefore, we recommend buying above 1.0306 if the pair backs again to this level you can buy with medium-term objectives in the fractal of 1.0466.

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

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GBP/USD - Bullish outlook - for February 19, 2013 (Daily Strategy) Trend News

The British pound recovers positions. You can see from the chart the breakdown of the downtrend line. The British currency does not raise head for several weeks, and only overcoming 1.5530/50 (Fractal 4 hours) the currency could get little more force. In the long term we expect the pound manages to reach the level of 1.5340. It is likely to be a bullish rebound in the short term until 1.5675/1.57 level. So we will take advantage of this movement with a buy position above 1.5490 with targets to fractal 1.57.

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

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EUR/USD: Uncertainty - for February 19, 2013 (Daily Strategy) Trend News

It seems that the euro has found support at 1.3303 area and below 1.3386 its short-term downtrend is still maintained. If you look at the chart you will notice that there are three sessions that the euro has remained in the same level, the volume down and ranges have been shortened. You may notice there is a technical pattern; the break of 1.34 could give momentum back to the euro up 1.36 resistance. On the other hand, below 1.3303 support, this pair has another support that should be overcome, the daily fractal is 1.3250. If the pair breaks this level, the fall is guaranteed to 1.30 psychological level of the pair.

Therefore, we recommend you monitoring these levels; at the current level there will be a dangerous position, as the market is undecided.

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

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



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Silver: Bullish structure intact. Rally gains momentum. 29.00/20 key supports Trend News

Technical outlook and chart setups:

The overall structure remains unchanged, from what was discussed yesterday. The prices seem to have bottomed out around 29.70 last Friday. 4H charts are indicating a possibility of bullish momentum to resume now. Intermediary support is at 29.70 level, while strong support is at 29.00 level, the prices are expected to stay above it in the coming sessions. Resistance begins from 31.20 level and extends through 32.50 in the short term setup. It is recommended to hold long positions and add further at current levels.

Trading recommendations:

Hold on to long positions taken earlier, add further longs at current levels (30.00/05), stop is at 29.00, and target is open (fresh swing highs).

Good Luck!

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Gold remains supported between Fibonacci ratios. 1,580.00 immediate support Trend News

Technical outlook and chart setups:

We are having our focus on the larger picture depicted here on the daily chart view. As seen here, the prices are supported between Fibonacci supports of 0.618 (1626.00) and 0.786 (1,580.00), and bouncing back. A possible morning star bullish signal is underway, which would technically confirm bullish reversal and that a bottom has been formed at 1,596.00. Furthermore, 1,596.00 is also re-enforced by Fibonacci support (extension of downswing from 1,798.00 to 1,680.00). Keeping all these facts into consideration, it is still highly recommended to go long at least 50% capacity.

Trading recommendations:

Hold on to the 50% long capacity taken yesterday, add the remaining as close to 1,595.00 (if prices are reached there), stop is at 1,550.00, and target is open (fresh swing highs).

Good Luck!

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EurJpy steady after bouncing off the support line. Hold on long positions. 123.00 immediate support Trend News

Technical outlook and chart setups:

As seen here on the Daily Chart view, the prices have bounced off the immediate line of support near 123.00 level last Friday. At the moment, the external line of support is passing through 106.00 level. Only if the immediate support line breaks in the sessions to come, we should think of further possibilities. Currently, 123.00 is immediate support, followed by 121.00 level on the downside; while 129.00 and 130.00 are Fibonacci levels of resistance on the higher side. It is recommended to hold long positions for now.

Trading recommendations:

Hold long positions from last week, stop is at 121.00, and target is at 129.00.

Good Luck!

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For detail explanation and best discovery on market trends you may visit via EurJpy steady after bouncing off the support line. Hold on long positions. 123.00 immediate support . Thanks for your support on EurJpy steady after bouncing off the support line. Hold on long positions. 123.00 immediate support

GbpChf reversal seen from current levels (1.4280) or 1.46/1.47 Trend News

Technical outlook and chart setups:

A daily chart view has been presented here for a broader structural understanding. As seen here, past support of 1.4170 has been just tested before the prices pulled back sharply towards the 1.4550 region. This pullback rally was very much expected and it has a potential to extend towards the 1.46-1.47 mark, which is defined by past support turned resistance now. On the other hand, if extended rally fails to materialize, the prices are expected to form fresh swing lows from current levels of 1.4280. It is therefore recommended to remain around 30-40% short from yesterday, keeping space for higher up rallies to be sold.

Trading recommendations:

Remain only 30% short from yesterday, sell remaining if a rally materializes towards 1.46/1.47, and targets are at 1.38/1.39.

Good Luck!

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