Silver Remains Constructive. Needs to Break 29.00 Consistantly Trend News

Technical Outlook and Chart Setups:

On the 4H chart the following facts can be noted.

1. Silver has bounced back from 0.786 support levels around the 28.00 mark of the entire rally between 26.00 levels to 35.00 levels (swing is not seen here);

2. Immediate support as seen here is 28.00 level followed by 27.50, 27.00 and lower; while resistance is at 29.50 followed by 30.30, 31.00 and 32.00 higher.

3. At the moment, the metal seems to be consolidating between 28.50 and 29.00 and a bullish breakout is awaited/expected anytime.

4. Looking into the immediate wave structure AB (as shown here), the immediate upside target is at 30.00 level.

Keeping the above facts in mind, it is recommended to remain long for now and add further during intraday dips. Bottomline: Bullish above 28.00

Trade Recommendations:

Remain long for now, stop is at 27.00, target 1 is at 29.50/30.00, target 2 is at 31.00.

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 Remains Constructive. Needs to Break 29.00 Consistantly . Thanks for your support on Silver Remains Constructive. Needs to Break 29.00 Consistantly

EUR/JPY Hits 0.786 Resistance at 126.00. Buy on Pullbacks Trend News

Technical Outlook and Chart Setups:

As we can observe on the 4H chart here, the single currency pair has rallied past the resistance at 126.00 and simultaneously tested the backside of the sloping trend line, which should act as support now. After breaking the uptrend line, prices seem to have formed strong base around the 119.00 mark, support for the next larger move upwards. It is followed by 117.00 and 116.00 levels respectively as strong supports. On the upper side, the next lined up resistance comes in at 127.00 and 127.90 region respectively. It is recommended to take fresh long positions on intraday corrections towards possibly 124.00 levels. It is to be noted that buying in full capacity should be avoided considering the fact that prices are at swing highs and a deeper correction (3 waves) still remains possible towards 122.00 levels. Bottomline: till prices are above 120.00 levels, intraday dips could be considered as buying opportunities.

Trade Recommendations:

Flat for now. Looking to buy intraday dips.

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 EUR/JPY Hits 0.786 Resistance at 126.00. Buy on Pullbacks . Thanks for your support on EUR/JPY Hits 0.786 Resistance at 126.00. Buy on Pullbacks

GBP/USD. Forecast for March 11, 2013 Trend News

The situation when the last collection of stops, which was assumed in the last review, was observed. However, the price tested two ranges of the Fibonacci channel, standing at the level of 1.4884. The price is in ambiguous situation, we have to wait Tuesday when data on UK Trade Balance, Industrial Production, and GDP in February is published. Today relevant information is not published; we expect the price will be moving sideways.

From the technical point of view, on the daily chart double convergence with Marlin oscillator preserves and we expect the local swing of the price. If the price consolidates under the trendline on the daily chart 1.4976, which coincides with the resistance of the Fibonacci channel on the H4, a tendency to swing will strengthen. It will eventually be finished after the price leaves the Fibonacci channel (higher than 1.5080).

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



For detail explanation and best discovery on market trends you may visit via GBP/USD. Forecast for March 11, 2013 . Thanks for your support on GBP/USD. Forecast for March 11, 2013