Silver remains constructive for bulls above 28.00 Trend News

Technical outlook and chart setups:

As seen on the 4H chart view presented here, prices are still struck within the trading range of 28.50/60 (support) and 29.10/20 (resistance) for the metal. Intermediary lower supports are lined up at 28.30, and 28.00; while resistances are spread across 29.50, 30.30, 31.10/20, and higher respectively. It should be noted that wave structure still remains constructive till prices remain above 28.00 level. The range breakout above 29.10/20 levels can be expected anytime, hence it is yet strongly recommended to stay long and/or buy intraday dips from here on. Looking higher for now.

Trading recommendations:

Remain long for now, look to buy on dips again, stop is at 27.50, target is open (30.30 and 31.10/20 should be the levels to exit partial long positions).

Good Luck!

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Gold prints above 1,600.00. Stay long Trend News

Technical outlook and chart setups:

The Wave Structure for yellow metal remains constructive for bulls, till prices are above 1,555.00 level, as seen on the 4H chart view depicted here. Prices are gathering pace slowly after breaking higher from 1,585.00 level. Fridays' swing high near 1,610.00 region has taken out an intermediary resistance at 1,603.00. Expect a pullback towards 1,595/97 levels before rally further up continues. The next lined up resistance is at 1,650.00, followed by 1,685.00, and higher. Intermediary supports are lines up across 1,570, 1,560, and 1,555 respectively. It is strongly recommended to hold long positions towards 1,660.00 level at least. Bottom line: 1,555.00 remains line on sand for bulls to remain in control. Looking higher from here on.

Trading recommendations:

Hold on to long positions, buy further on intraday dips, stop is at 1,550, target is at 1,660 and higher.

Good Luck!

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



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EurJpy at support around 122.00. Look to go long again Trend News

Technical outlook and chart setups:

As seen here, on the 4H chart view again, the single currency pair has opened gap down triggering our stops below 124.00 level. None the less, the structure still remains bullish for bulls to stage an impressive rally from here on. Prices have taken support at a past resistance turned support at around 122.00. Also the backside of falling down trend line is again tested around 122.00 level and the prices bounced back sharply. Taking it into consideration, it is still recommended to go long EurJpy during intraday dips, for the bulls to challenge swing highs at 128.90 and higher. Immediate resistance is at 127.00 level, followed by 127.90; while support is at 121.00, 120.00 and 119.00 respectively. Look to enter buying on intraday dips.

Trading recommendations:

Go long again now, (122.80), stop is at 121.00, and target is open.

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 EurJpy at support around 122.00. Look to go long again . Thanks for your support on EurJpy at support around 122.00. Look to go long again

GbpChf bounces off 0.618 resistance. Look to go short Trend News

Technical outlook and chart setups:

It was pointed and discussed on Friday, that prices were stalling out at the 0.618 resistance level around 1.43 and a bearish reversal could still remain a possibility. The single currency pair has followed up in a similar way till now. Immediate resistance is at 1.4350 level, followed by 1.4500 and above; while intermediary support is at 1.4030 and lower. Considering the above facts, it is recommended to sell 50% of total capacity at current price level (1.4265), and the remaining around 1.44 level, if prices reach this level. As shown here, the 1.4411 level is a Gartley convergence as well; 0.786 Fibonacci resistance of the downswing between (1.45 and 1.4) and 1.271 of upswing between 1.4 and 1.4280. Bottom line: Sell during intraday rallies.

Trading recommendations:

Quit long positions. Go short 50% capacity at current price and remaining 50% at 1.44, stop is at 1.4550, and target is open.

Good Luck!

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



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