GBP/CHF breaks to fresh lows below 1.4100; 1.4350/60 is strong resistance now Trend News

Technical outlook and chart setups:

As depicted in the 4H, the currency pair broke down intermediary support at 1.4050/70 yesterday at the backdrop of huge sterling sell-off across the board. As shown here, immediate resistance is the 1.4350/60 levels, followed by 1.4500. Support comes in around the 1.38/1.39 levels. It should be noted that a weekly support at 1.4150 has been broken, and hence a pullback cannot be ruled out. It is always recommended to book partial profits around current levels. Looking lower till 1.4350 remains intact.

Trade recommendations:

Remain short, move risk to breakeven, target 1.4050, 1.39.

Good Luck!

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GBP/USD: Expectation of rebound - for February 20, 2013 (Daily Strategy) Trend News

Being under downward pressure the British pound, fell to the level of 1.5281, because the unemployment rate in the UK, which showed a rise to 7.8%, was higher than expected. It gave a new impetus to the downward pound sterling, in its crossing with the dollar, technically complied with a figure of change in trend which had its target 1.5315, as we were talking about a few days ago. Now this pair on daily charts is in a very strong oversold point. Although we expect a small drop to the level of 1.5255, daily fractal level, but we can buy this pair at this low price with small lots, with goals to the level of 1.5615 (bearish trendline and daily fractal).

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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EUR/USD 1.3306 and 1.3485 (key levels) - for February 20, 2013 (Daily Strategy) Trend News

Yesterday the euro managed to break the 1.34 level, because ZEW data in Europe and Germany came out better than expected. This level was higher than expected and boosted the price of the euro. This morning in the U.S. session we noticed that the euro is trading at 1.3385 with indecision. We may notice the price range is narrowing and the euro is likely to come up to the level of 1.3485, strong resistance and down to the 1.3306 level. Any move outside this range will open the new sequence of the pair. In the meantime, it only oscillates between these two levels. So we recommend you to observe these levels before placing an order in the market.

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



For detail explanation and best discovery on market trends you may visit via EUR/USD 1.3306 and 1.3485 (key levels) - for February 20, 2013 (Daily Strategy) . Thanks for your support on EUR/USD 1.3306 and 1.3485 (key levels) - for February 20, 2013 (Daily Strategy)

Silver tests 29.20/30. Structure remains bullish above 28.00 Trend News

Technical outlook and chart setups:

As seen on the daily chart here, the overall bullish structure remains till prices are above 28.00/10 levels, which is re-enforced by the 0.786 Fibonacci retracement level of the entire upswing from sub 26.00 to 35.00 earlier. At the moment, the prices have tested the swing lows at 29.20/30. It is still recommended to stay long. Immediate support is at 29.00 followed by 28.10 on the lower side, while resistance is strong around the 32.50 region.

Trading recommendations:

Hold on to long positions taken earlier, 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 tests 29.20/30. Structure remains bullish above 28.00 . Thanks for your support on Silver tests 29.20/30. Structure remains bullish above 28.00

Gold: Bullish above 1,580.00. Remain long Trend News

Technical outlook and chart setups:

As seen on the daily chart view, the structure remains unchanged for now. Prices have stalled at the following convergence/confluence: - Fibonacci 0.786 retracement of the upswing from 1550.00 to 1798.00 - Fibonacci extension (1.618 or 61.8%) of the down swing from 1798.00 to 1672.00 - Past Resistance Turned Support levels. These facts still confirm that the bullish scenario remains intact for now and prices should gain momentum from here on. Therefore, it is recommended to remain long from last week.

Trading recommendations:

Stay long 50% from earlier, also add remaining 50% as close to 1,596-1,600, stop is at 1,550, and target is open (fresh swing highs).

Good Luck!

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



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