Silver remains constructive with double bottom formation seen at 28.00 Trend News

Technical outlook and chart setups:

As seen on the 4H chart depicted here, Silver seems to have formed a double bottom at 28.00 level as it was discussed last Friday. A morning star appearing at support level is a sign of bullish reversal ahead, and one should position on the long side from here on. Immediate resistance is at 29.20/30 and this should be broken, to confirm further. Support is just below 28.00 level and it has held till now. Moving ahead, till the time prices stay ahead of 28.00, bulls should remain in control and resistances lined up from 29.50, to 30.30, 31.20, and higher up should be broken in the coming trading sessions. Bottom line: Silver is preparing for an April rally, till it remains above and holds 28.00 levels from here on.

Trading recommendations:

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

Good Luck!

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Gold remains unchanged for now. 1,660.00 next target Trend News

Technical outlook and chart setups:

Looking into the 4H chart view presented here, Gold still remains constructive for bulls and a break above 1,615.00 now, would target 1,660.00 level quickly. Please note that the yellow metal has remained sideways since the recent swing lows at 1,555.00; the consolidation sequence has been of constant resistance at 1,615.00 level and increasing supports from 1,555.00, 1,560/65, and 1,580.00. Currently trading at 1,600.00 level again, it is pretty close to breaking out above the resistance line shown here. As discussed earlier, sideways breakouts are very powerful and hit targets (here at least 1,660.00 level) pretty fast. It is again recommended to remain long and use intraday dips as great opportunities to build long positions. Bottom line: Looking higher from here on.

Trading recommendations:

Remain long, stop is at 1,550.00, target is open for the long term. 1,660 is immediate.

Good Luck!

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



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EurJpy dips but 119.00 holds. Remain long for expected final rally Trend News

Technical outlook and chart setups:

As seen on the 4H chart view here, the single currency pair seems to have again tested 119.00 level before bouncing back. Shorter timeframes indicate a possible pullback rally from here on. As shown here, the immediate/intermediary support is just below 119.00 level and it has held till now. As we have been discussing earlier, even if prices were to fall back towards a low (below 119.00), the 3 wave counter trend structure needs to be completed. Hence a minimum lower high should form above 126.00 level in the coming sessions. Only a break below 118.50 from here would nullify a possibility of the rally. Till then, it is recommended to remain long. Resistance is seen at 124.00 level, followed by 126.00, 127.90, and 128.00; support is at 119.00 level, followed by 117.00, 116.00 and lower. We shall discuss the larger wave structure if 118.75 is broken today.

Trading recommendations:

Stay long for now, stop is at 118.40/50, and target is 126.00 at minimum if not higher.

Good Luck!

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



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GbpChf stalling ahead of 1.4530, marked as resistance Trend News

Technical outlook and chart setups:

Looking into the 4H chart view depicted here, the single currency pair has been stalling recently, just ahead of resistance marked at 1.4530/40 levels. Furthermore, 1.4450 is also 0.786 resistance of the downswing from 1.4530/40 to 1.4000 earlier. Please note that the inner support line has been broken and the prices seem to be testing backside of the line which is past support turned resistance now. A push below 1.4380/70 mark would re-affirm that bears are back in control and that the counter trend (up) is over. Therefore, it is recommended to remain short from earlier positions and also look to add fresh positions now if required. Till the time prices are below 1.4530/40 levels, looking lower. The scenarios would change if 1.4530/40 gives way. In that case, we shall shift focus to buy on dips.

Trading recommendations:

Remain short for now, stop is at 1.4580, and target is below 1.4.

Good Luck!

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



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