EUR/USD - key level of 1.3006 - for March 20, 2013 (daily strategy) Trend News

The euro again registered a minimum in the area, 1.2841, area of the 200 day moving average. The fact that the pair has been rejected by the EMA 200 is a proof that the pair is still in a bullish sequence that for the next few days could reach 1.3250 level quickly. However, the economic outlook is not encouraging for the euro, due to situation on Cyprus. Using technical analysis, we have a key level of 1.3006 fractal. If the pair reaches this level we have two options: one to sell below this level, with objectives to 1.2870 support, there other is if the pair closes the H4 above this level, you can buy, with objectives to cover the gap at 1.3074, and further up to the level of 1.3250.

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

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GBP/USD - sell below fractal 1.5280 - for March 20, 2013 (daily strategy) Trend News

This morning the British pound has been trading with a lot of volatility. Support is at the weekly pivot, 1.5040. This level is bouncing, but landed hard to the 1.4830 level a few days ago. This level is the crossroad with the dollar. In our opinion for the medium term the British currency could recover to the 1.55 area without much difficulty, but first should break the very strong 1.5280 fractal. We believe that this level will offer a strong resistance of the pair. Therefore, in this area we recommend selling to targeted weekly support level 1.5010.

The technical Momentum indicator is entering a zone of resistance. Therefore, it is likely to be a bearish movement for the next few days as part of a correction of the upward movement.

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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AUD/USD - bearish outlook - for March 20, 2013 (daily strategy) Trend News

The Australian dollar is trading below the medium-term bearish channel and about daily fractal, 1.0386. This is a key point for this pair, the fact that you have found strong resistance at this level is a proof that yet the downward pressure prevails. On the other hand, a weekly close above this level would be the beginning of a new upward sequence, which aims the levels of 1.06 and 1.08. Therefore, it is recommended to sell this pair at the current price levels, with objectives to fractal, nearest to 1.0307 and if the downward pressure continues, it is expected that the bearish wave takes a minimum of 1.0230, which is a very strong support on the daily charts. On the other hand, the MACD indicator is overbought, giving the signal a bearish movement for the following sessions.

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

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Silver remains unchanged. Hold long positions Trend News

Technical outlook and chart setups:

Looking into the wave structure depicted on the 4H chart view here, silver seems to be set to rally higher up to 30.20 and 31.00 levels in coming sessions. Resistances are lined up from 29.50, followed by 30.10/20, 31.20 and 32.30; while intermediary supports are at 28.30/50, followed by 28.00 and lower. The expected unfolding wave structure has been shown as ABC and a possible D at 30.20/30 levels. The AB is between 28.00 and 29.20, and possible C formation is at 28.30/40 levels. Prices have remained subdued and sideways after that, but a bullish breakout could be expected towards a possible 30.20 soft target. It is therefore recommended to hold on long positions for now.

Trading recommendations:

Hold long positions, stop is at 27.00/50, and target is open (book partial profits at 30.25 and 31.20).

Good Luck!

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Gold remains unchanged. 1,660.00 in sight Trend News

Technical outlook and chart setups:

Looking into the wave structure depicted on 4H chart view here, at least in the short term, wave structure remains constructive. Resistances are lined up at 1,650/60 levels and 1,680/85 respectively. The entire unfolding wave structure is ABC and a possible D at 1,660.00. The AB has formed between 1,555.00 and 1,620.00; a possible C has formed near 1,560.00 and the yellow metal seems to be on its way towards D at 1,660.00 level. Intermediary support levels are lined up from 1,580.00, 1,560.00 and lower towards 1,555.00. A push above 1,620.00 level now, would re-affirm the above possibility. Bottom line: The metal is strongly bullish above 1,555.00, and it is recommended to hold long positions.

Trading recommendations:

Hold on to long positions, stop is at 1,550.00, and target is open (book partial profits at 1,660.00).

Good Luck!

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