EUR/USD sell bellow 1.3101- for March 05, 2013 (daily strategy) Trend News

The euro remains on the psychological level of 1.30. This morning during the American session it was trading at 1.3034. We expect an upward movement until the resistance of 1.31 in this area it is the weekly pivot, which will provide downward pressure. So we recommend selling this level, with objectives to weekly support 1.2888. If the pair closes the day above 1.31, it will invalidate our bearish outlook. On the other hand, if you look at the technical indicator in the chart, it is under downward pressure; there has not yet been bullish signal. So any increase in the pair must be considered as an opportunity to sell this pair.

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

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USD/JPY - bullish outlook - for March 05, 2013 (daily strategy) Trend News

In the short term the yen moves without definite trend. This morning it was trading at a small uptrend. If you remember this pair has a bearish path determined by the Japanese government and BOJ, seeking a stronger devaluation. The momentum technical indicator is below the signal line of MACD showing a likely bullish movement for the yen in the coming days. The closest target is at 92.32 (fractal), if this level is broken, the appreciation of the yen may be until the level of 89.75. Therefore, we recommend selling at the current price level.

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 remains bullish above 28.00 Trend News

Technical outlook and chart setups:

As seen on the daily chart setup here, silver is preparing to stage a rally after producing doji candlestick pattern last Friday. The 28.00 level is re-enforced by the Fibonacci 0.786 support and also the past resistance turned support region. Intermediary support is at 28.00 followed by 27.50, and 26.50 respectively. Immediate resistance is seen at 29.50, 30.00, and 31.00 respectively. It is strongly recommended to remain long for now.

Trading recommendations:

No change. Hold long positions, add further on dips if possible, and target is open.

Good Luck!

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Gold remains bullish above 1,550.00 Trend News

Technical outlook and chart setups:

As depicted on the daily chart, the yellow metal remains bullish above 1,550.00. As seen, at the moment, the immediate price action should be towards 1,630/60 levels. Intermediary resistance is at 1,630/50, followed by 1,670.00, and 1,696.00. Intermediary support is at 1,550/55, followed by strong level at 1,525/30. It is recommended to remain long for now and build further positions. Looking higher from here on. 1,525/30 and 1,550.00 levels should hold well for now.

Trading recommendations:

No change, hold on to long positions, stop is at 1,530.00, and target is open.

Good Luck!

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EurJpy remains unchanged. Flat for now. 122.00/50 may provide resistance Trend News

Technical outlook and chart setups:

As depicted on the 4H chart setup here, the prices have virtually remained unchanged from yesterday, just ahead of 122.00/50 levels. This could be providing short-term resistance, followed by 124.00 level higher up. A break above 124.00 would re-confirm bullish outlook ahead. Intermediary support is provided by 119.00 level, followed by 117.00 and lower. It is recommended to remain flat for 1-2 trading sessions to get further confirmation of directions.

Trading recommendations:

Flat for now.

Good Luck!

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