AUD/USD - sell below 1.0470 - for April 05, 2013 (daily strategy) Trend News

The Australian dollar shows a bearish signal on the daily charts. Recently we had noticed that this pair should fall, believe that the decline is not over as the Aussie should stop performing in support of daily fractal 1.03. In view that now the pair is below the 1.0445 fractal it increases the likelihood that the downward movement occurs. On Friday there will be fundamental data, it is likely that the pair pulls back to resistance level. If this happens we can sell at 1.0470 level. On the other hand, we can also sell at any price below the long-term channel, yellow path, with targets at 1.03.

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

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EUR/USD - buy above 1.2820 - for April 05, 2013 (daily strategy) Trend News

Yesterday the euro managed to recover positions after it was under the downward pressure that led the U.S. dollar to 1.2730 level, finding strong support in the daily fractal. However, at the end of the day it closed above the 200 day moving average periods (blue) which increases the probability of an upward movement of the pair, for the next few days. Looking at this chart, you can see a bullish channel. You can also note that the euro is likely to try to break this downward channel. But we think it will only be a chance to buy the pair at low price. However, it will be difficult for the euro to remain bullish, because it is on the way up to 1.3250, with much resistance as the daily Fractal 1.3004 psychological level. Therefore, we recommend to operate this pair after the U.S. Non-Farm Payrolls released, as the pair will be very volatile and may be detrimental to your account in the chart below we trace the points of entry for today's session.

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

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Silver bounces off support. 26.00 support Trend News

Technical outlook and chart setups:

As seen here, after printing fresh lows since last few trading sessions, the metal has finally produced a bullish reversal signal (Tweezer Bottom) around sub 26.00 level. Considering this region as the support band for several months, it is recommended to initiate fresh long positions now (26.90/95). Support is just around 26.00 level, while resistance is spread from 28.50 (intermediary), 29.30/50, 30.30 and higher up. A rally from here should initially target 28.50 and 29.30/50. This rally would break the sloping downtrend line and release prices into the buy zone. Thereafter, the metal could be bought again on dips towards 28.30/50 levels at back side of the resistance line.

Trading recommendations:

Enter long positions, (26.90/95), stop is at 25.95, and target is at 29.30.

Good luck!

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Gold produces bullish bounce. Long positions can be initiated Trend News

Technical outlook and chart setups:

A simple wave structure of 4H chart has been depicted here. The long term support region was around 1,530/40 region and the prices have just produced a morning star, bullish reversal trade signal. Support is just below 1,540.00 now, while resistance is lined up from 1,610/20, through 1,650/60 and higher. It is recommended to enter long positions again (1,552.00), with an immediate target of 1,610.00 from here on. As seen here, the sloping line of resistance would be breached if prices reach first resistance near 1,610/20 region from current levels. Thereafter, the yellow metal would be offering fresh long entries on dips. Long again for now.

Trading recommendations:

Enter long positions now (1,552/53), stop is at 1,520.50, and target is at 1,610.00.

Good luck!

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EurJpy extends rally. Hold on long positions and reduce risk. Trend News

Technical outlook and chart setups:

Looking into the daily chart presented here, 119.00 level of support has held strong and the prices rallied more than 400 points from there. It is encouraged to book partial profits and hold long on the remaining. Fresh longs could be entered on a pullback around 122.00 level now. Immediate support remains fixed at 119.00 level, followed by 117.00, 116.20/30, and lower while resistance is at 126.00, followed by 127.00 and 127.90. It is quite possible that an intermediary high is reached between 126.00 and 127.00 before reversing. Looking higher for now, pullbacks should be used as opportunities to go long.

Trading recommendations:

Book partial profits and move stop loss to breakeven. Buy fresh on dips towards 122.00.

Good luck!

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GbpChf intraday rallies should be preferably sold. 1.4530 remains resistance Trend News

Technical outlook and chart setups:

There is no change in the overall structure depicted here on the 4H chart. The single currency pair has held resistance at 1.4530 level and is probably heading towards 1.42 level immediately. Support is now just below 1.42, followed by 1.4030 and lower. It is recommended to remain short-from positions and also consider selling intraday rallies, like the one produced yesterday. The overall swing structure should end around 1.38 level before a considerable pullback could take place. Looking into the daily chart view, we have probably entered into the last wave down at 1.4480 level. For this count to be true, 1.4530 level should remain intact from here on.

Trading recommendations:

Remain short, sell intraday rallies, stop is at 1.4530, and target is below 1.4.

Good Luck!

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