EUR/USD bullish momentum above 1.3006 - for March 19, 2013 (daily strategy) Trend News

The euro has not reached 1.3074, the value of the closing price on Friday. We believe the pair should reach this level to cover the gap that it has left during the opening of the session this week. Before taking bullish positions look for a safe way in that direction, you should see the development of the price breaking certain resistance levels. The first resistance is found in the daily fractal 1.3006, and according to the pivot points, 1,3030 is the weekly pivot. You can review our yesterday’s analysis to observe these levels. At the current price levels we do not recommend any strategy. Therefore, once the pair is trading above 1.3006, you can buy the euro in the short-term objectives to 1.3255. The momentum indicator is showing a bullish sign.

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

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GBP/USD rebounds to 1.5010 - for March 19, 2013 (daily strategy) Trend News

The pound remains a major bullish bias, especially on the daily chart, which since mid last week has configured a new trend in that direction. Momentum Indicator is showing a bearish signal for the next few sessions, we believe that will have a support at the psychological level of 1.5010, we recommend buying at this level, waiting for a new bullish move to 1.5250/80 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 continues probe 29.00. Bullish above 28.00 Trend News

Technical outlook and chart setups:

As seen on the Daily chart view, the structure remains constructive for bulls till prices remain above 28.00. This region is re-enforced by past resistance turned support and the 0.786 Fibonacci retracement level of the entire rally from sub 26.00 level to sub 35.00 level. Prices need to push above 29.20/30 levels comfortably to confirm beginning of the next major uptrend. On the other hand, a test of 28.00 level also leaves a possibility before resumption of the larger trend. Support levels are 28.50 (intermediary), 28.00, 27.50, 27.00, and lower. It is still recommended to hold long positions and build further on dips. Looking higher soon.

Trading recommendations:

Remain long, stop is at 27.00, and target is open.

Good Luck!

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Gold remains bullish. Targeting 1,630 and 1,660 Trend News

Technical outlook and chart setups:

As depicted here, in the daily chart setups, the yellow metal still remains constructive for bulls, till prices are comfortably above the intermediary support at 1,555.00 level as shown here. Other support levels are 1,550 and 1,525/30 respectively. Please note that prices have bounced off the 0.786 Fibonacci support levels of the entire upswing from 1,525/30 levels. A push above 1,610/15 levels is required to confirm resumption of major trend towards fresh highs in coming several weeks. On the other hand, if prices still remain sideways, prices can possibly test 1,555.00 level again before breaking out. Resistance is placed at 1,625/30, 1,650/60, 1,680/85, and 1,696.00 respectively. It is highly recommended to hold long positions and buy further on dips. Looking higher from here on.

Trading recommendations:

Hold long positions, stop is at 1,550.00, and target is open (1,660).

Good Luck!

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GbpChf near resistance (1.4411). Hold on to short positions Trend News

Technical outlook and chart setups:

A Daily chart view has been presented here for further swing clarification. Please note the following:

1. The trend has been lower since 1.5400 level as seen here. Resistances are lined up from 1.49, 1.51, 1.53, through 1.54 respectively.

2. The inner trend line has been broken temporarily and prices have tested an intermediary resistance yesterday around 1.4350 level. This is not sufficient proof for a reversal on the higher side.

3. As shown here, the immediate major resistance is just above the 1.4500 levels. And till the time prices are below that, selling rallies should be the trade strategy from current levels. (1.43)

4. Intermediary support is at 1.4030 level, followed by 1.4000 respectively.

5. Keeping the above facts in preview, it is recommended to remain short, and add to intraday rallies through 1.44 level if possible.

Trading recommendations:

Hold on to short positions, add further on rallies, stop is above 1.4550, and targets are at 1.38, 1.37.

Good Luck!

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