Silver Produces a Tweezer Bottom on Daily Chart. Staying Long is Recommended Trend News

Technical Outlook and Chart Setups:

As depicted on the Daily chart here, the metal has produced a Tweezer Bottom trading signal just ahead of the fibonacci 0.786 support level of 28.10. Furthermore, this region is also re-enforced by the past resistance turned support around 28.30/40 region. Considering the above facts it is highly recommended to continue staying long on positions taken last Friday around 28.50/60 region. Immediate support is around 28.00 followed by 27.50 and 27.00; while resistance begins from 30.00 region followed by 32.50 and higher. Looking higher from here.

Trade Recommendations:

Stay long from Fridays' recommendations (28.50/60), stop is at 27.00, target is open.

Good Luck!

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Gold Holding 1550/70 Well for Now. Hold on to Long Positions Trend News

Technical Outlook and Chart Setups:

As seen on the Daily chart here, the yellow metal seems has been holding fibonacci 0.786 support levels well since last few trading sessions. An aggressive dip in the form of retracement towards recent lows is still possible, ahead of the thrust rally. Support region is 1550.00 and 1530.25 on the lower side, while resistance is the 1630.00 mark followed by 1680.00 and higher. It is recommended to hold long positions if taken last week and also build further on dips towards 1560/70 region. Looking higher from here on.

Trade Recommendations:

Hold longs, buy further on dips between 1560/70 region, stop is at 1520/30, Target is open.

Good Luck!

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



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EUR/JPY can be Bought on Dips Towards 123.00-124.00 Trend News

Technical Outlook and Chart Setups:

As seen on the 4H chart here, the single currency pair formed a base around 122.20/30 levels and rallied past the 125.00 region in the past trading sessions. A push through 126.00 region now would confirm that further upside is due in coming weeks. Immediate resistance is just around the 126.00 region followed by 127.00 and 127.90; while support is at 121.00 levels respectively. At the moment, prices seem to be testing the backside of the uptrend line and hence it is recommended to re-enter buying on dips (probably after 126.00 levels are taken out).

Trade Recommendations:

1. If bought earlier, please book profits now.

2. Enter fresh long positions between 123.00 and 124.00 after 126.00 is taken out, stop is at 121.00, target is open.

Good Luck!

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GBP/CHF Hits First Soft Target at 1.4050 Levels Trend News

Technical Outlook and Chart Setups:

As depicted on the 4H chart here, the currency pair reversed sharply from the 1.4250 resistance levels and hit the measured extension levels at 1.4050. Immediate resistance is now around the 1.4250 mark followed by 1.4350 and 1.45 on the higher side. A minor pullback might be possible now ahead of 1.4250 for further downside extensions at 1.3850. It is therefore recommended to take profit off around current levels and seek other higher opportunities to build short positions. A straight break below 1.4050 levels would accelerate further downside.

Trade Recommendations:

Book profits on short positions taken around current levels (1.4080). Seek for selling opportunities higher.

Good Luck!

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