AUD/USD - sell below EMA 200 - for March 06, 2013 (daily strategy) Trend News

Earlier this week the Australian dollar found a bottom in the first level of monthly support 1.0115. From this area it managed to rise over 150 pips. Now it faces the key level of 1.0306 and above this level there is the 200 day moving average (blue). Analyzing this technical data, we recommend selling the pair below 1.0306 with targets at the 1.0228 fractal, strong support, and ultimately with target at 1.0150 support.

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

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GBP/USD - expectation of rebound - for March 06, 2013 (daily strategy) Trend News

Despite the presentation of the BoE Governor Mervyn King the pound did not raise its head and was pressed down in the European session. This morning it has been trading at 1.5075, above the psychological level of 1.50. Probably there is one pair consolidation at this level, and in view of this, the pair has kept downward pressure for several days. Many traders are waiting for a bounce upward to re-sell this pair. Therefore we expect the pair to reach fractal level nearby, which is in 1.5268, and if this level is broken, the strongest resistance is found in 1.5614. So you can buy at current price levels, the momentum indicator is showing bullish sign for the next few days.

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 - key level of 1.31 - for March 06, 2013 (daily strategy) Trend News

The euro does not leave the range between 1.2970 and 1.3070. It appears to be unchanged and is trading back around the psychological level of 1.30, while waiting for some strong data that allows it to jump to the area of 1.31. It is likely that before a new bearish movement this pair tries to break 1.3101 level. On the other hand, if the pair closes above 1.31, it will drive you to the nearest resistance of 1.3235. If during today's session, the pair reaches the level of 1.2970, you can buy this pair with the objectives outlined in the chart. On the other hand, the 200 day moving average is at 1.2883, indicating that the long-term uptrend has not been lost. Therefore, any price near this level should be considered as an opportunity to buy this pair.

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 targeting 29.50 immediately. Buying on dips remains favoured strategy Trend News

Technical outlook and chart setups:

As seen on the daily chart setup here, Silver remains bullish overall. No doubt, the metal has remained sidelined for a few trading sessions having attempted a break above 29.00 yesterday. Please note that 28.00 level is strong support since it is around the confluence of 0.786 Fibonacci level and past resistance turned support, as shown. As long as the prices are above 28.00, it is highly recommended to hold/buy positions taken earlier and on intraday dips. 29.50 is immediate resistance and the bulls would be determined to register highs in the sessions to come.

Trading recommendations:

Hold on to long positions, stop is at 27.00, and target is open.

Good Luck!

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Gold remains subdued between 1,570 and 1,585. Bullish breakout awaited Trend News

Technical outlook and chart setups:

As seen on the Daily Chart view here, the yellow metal has remained sideways since last 3 trading sessions between 1,570 and 1,585 levels. Believe it or not, it is just a matter of 1-2 days before breakout; and high probability remains on the bullish side. Support should be strong around 1550.00 level, followed by 1,525/30; while resistance begins from 1,630.00 level and higher. It is yet strongly recommended to hold on long positions for now and add further on intraday dips towards 1,570/75. Trading above 1,585.00 confirms breakout.

Trading recommendations:

Hold on to long positions, stop is at 1,530, and target is open. Please book partial profits around 1,630 and 1,650/60 levels.

Good Luck!

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EurJpy inching higher above 122.00. Remain cautiously bullish Trend News

Technical outlook and chart setups:

As depicted on the daily chart view here, EurJpy looks to be breaking above 122.00 level at the moment. Intermediary support is at 119.00/120.00, followed by 116.00/117.00 for now, while resistance is not before 125.00 level. After remaining flat for past few sessions, it is recommended to go long, (around 50% capacity). Any break out above 122.00 today or tomorrow is expected to raise the single currency pair towards at least 124.00/125.00 levels in the short term. Please note this counter rally may also possibly test swing highs at 127.00 level.

Trading recommendations:

Buy now (around 122.00), stop is below 120.00, and target is open.

Good Luck!

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GbpChf takes out 1.4260... It needs to pullback before further up Trend News

Technical outlook and chart setups:

As seen on the daily chart view here, the single currency pair has taken out the first intermediary resistance at 1.4260 yesterday. The stops are still in place at 1.4300 and next higher resistance is around the 1.4350 mark. At the moment, GbpChf seems to be preparing for a pullback/retracement towards 1.4100 level before rallying further up towards 1.4600. It is therefore recommended to remain short for now. First low, then higher up from here on.

Trading recommendations:

Remain short, stop is at 1.4300, and target is at 1.4100.

Good Luck!

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