AUD/USD - buy above 1.0230 - for March 07, 2013 (daily strategy) Trend News

The Australian dollar is trading below the key level of 1.03. Yesterday this pair could not overcome this level. This morning, it had a correction to the level of 1.0230 fractal. In this area, we can re-buy this pair, as in recent weeks it has been a strong support. On the other hand, the MACD indicator is showing a bullish move for the next pair of days. This week will present relevant data in China will be published. This is linked to the Aussie market, so if the data is optimistic, the AUD/USD can take a very bullish direction.

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

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EUR/USD - bullish outlook - for March 07, 2013 (daily strategy) Trend News

This morning the euro is trading at 1.3010, above the psychological level of the pair. As we have said earlier, we see that even the euro maintained its upward trend above the 200 day moving average above 1.2888, and that all reverse is just an opportunity to buy this pair. Therefore, currently buy the pair with objectives to the level of 1.31, key level. If the pair closes above 1.3101, you can re-buy this pair targeted to first weekly resistance 1.3235. On the other hand, the momentum indicator is showing bullish sign.

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

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GBP/USD - bullish outlook - for March 07, 2013 (daily strategy) Trend News

The British pound before 7 A.M. Eastern Time was trading below 1.50 level. After the BoE had issued the interest rate, leaving it unchanged at 0.5%, this data gave a bullish momentum to the pound, which now is trading at 1.5041.Therefore, analyzing technical indicators; we expect an upward movement of the pair, for the next few hours or even the next day. So we recommend buying at current price levels with objectives in the nearest fractal of 1.5268 and above at 1.5614.

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GBP/JPY: Consolidation Trend News

Overview:

GBP/JPY is consolidating as markets await BOJ and ECB interest rate decisions. GBP/JPY is underpinned by expectations of more quantitative easing from BOJ in coming months to achieve 2% inflation target; demand from Japan importers. But GBP/JPY gains tempered by Japan exporter sales; weak euro sentiment. Daily chart is mixed as MACD is bearish; but stochastics is in bullish mode.

Recommendation:

Buy above the pivot point of 140.5 with first target at 142.49 and second target at 142.9.

Resistance levels:

R1 - 142.49

R2 - 142.9

R3 - 143.25

Alternative scenario:

Sell below 140.5 for further downside with targets at 140.15 and 139.7.

Support levels:

S1 - 140.15

S2 - 139.7

S3 - 139.35

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Silver: Breakout seen above 29.00 Trend News

Technical outlook and chart setups:

As seen on the 4H chart view presented here, Silver has broken out convincingly above the dropping short-term trendline here. Immediate upside extensions are 29.35/50 and then around 30.00 level. Resistance shall be met at 29.50, followed by 30.00/50; while support is at 28.50, 28.00, followed by 27.50 and lower respectively. It is recommended to remain long for now and add during intraday dips in the NY session. Looking higher from here on.

Trading recommendations:

Hold on to long positions, stop is at 27.00 (to be revised soon), and target is open. Book partial profits at 30.50.

Good Luck!

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Gold: Breakout above 1,585.00 Trend News

Technical outlook and chart setups:

As seen on the 4H chart view presented here, it has been several trading sessions of consolidation for the yellow metal. The type of consolidation is increasing support and constant resistance type (1,585.00). As discussed earlier, such consolidations intend to produce powerful bullish breakouts! Supports have been rising since 1,565.00 level, while resistance has remained constant at 1,585.00. Expect a breakout to materialize anytime above 1,585.00 now. It is therefore recommended to stay long and add on intraday dips during open of NY session. Now the area of 1,550/55 is support.

Trading recommendations:

Hold on to long positions, stop is at 1,530.00, and target is open. Book partial profits at 1,660.00

Good Luck!

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EurJpy rally extends above 122.00. Stay long for now and reduce risk... Trend News

Technical outlook and chart setups:

As seen on the 4H chart view here, the single currency has been trading lower after breaking the support trendline before gaining momentum yesterday. Initial chart resistance is at 125.00 level, while intermediary support is around 120.00 and then 119.00 respectively. Our minimum upside expectations would be 123.70/75 from here on. The same region is encountering the down trendline as shown here. A break above 124.00 would prove to be further bullish for the counter and raise prices towards 126.00 and 127.00 as shown here. It is recommended to remain long at least for now. Keep 123.70/75 in sight.

Trading recommendations:

Remain long for now, move to 121.00, and target is at 123.75.

Good Luck!

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GbpChf resumes retracement. 1.4050/80 insight Trend News

Technical outlook and chart setups:

As depicted on the 4H chart here, the single currency pair has initiated retracement down towards 1.4050/1.4080 levels as expected and discussed yesterday. The 1.4080 is also re-enforced by 0.681 of the recent rally. Intermediary resistance is now 1.4270/80 and prices are expected to head lower at least for short term. It is therefore recommended to stay short for a while before flipping trades. Looking lower for the short term, then reverse.

Trading recommendations:

Remain short for now, stop is at 1.4300, and target is at 1.4080. Then go long on a bullish signal.

Good Luck!

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