GBP/USD - correction- for April 10, 2013 (daily strategy) Trend News

The British pound is trading below its long-term bearish channel. 1.5350 level will continue to act as strong support for the pair. On the other hand, we expect to see a break higher bluntly, that the pair starts a new sequence upward, so we believe that before this happens there should be a correction of the pair towards 1.51 level. Therefore, it is recommended to sell at current levels, we will place stop loss above the maximum of 1.5350 with short-term objectives 1. 5110. The Momentum Indicator is showing bearish signal.

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



For detail explanation and best discovery on market trends you may visit via GBP/USD - correction- for April 10, 2013 (daily strategy) . Thanks for your support on GBP/USD - correction- for April 10, 2013 (daily strategy)

EUR/JPY - sell bellow 129.70 - for April 10, 2013 (daily strategy) Trend News

The EUR/JPY pair is in the very strong resistance level and around the psychological level of 130 yen. If you look at the gap left by early week at 126.54, it is likely that in the short term there is a correction at least to cover the gap. Now there are signs of exhaustion in the upward force. The Momentum Indicator is in overbought zone, which for the next few days indicates the pair has a bearish sequence. Therefore, we recommend selling only if the pair closes the 4 hour chart below 129.70, we will place stop loss a few pips above the monthly maximum.

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



For detail explanation and best discovery on market trends you may visit via EUR/JPY - sell bellow 129.70 - for April 10, 2013 (daily strategy) . Thanks for your support on EUR/JPY - sell bellow 129.70 - for April 10, 2013 (daily strategy)

EUR/USD - sell bellow 1.3140 - for April 10, 2013 (daily strategy) Trend News

The euro could not overcome the strong resistance level of 1.3140/50. It had a stop at 1.3121, this area is very strong. If you remember last time the euro reached this level and dropped to the minimum 1.2736. Given that it is almost 400 points in the rebound and the pair is already in resistance zone, we recommend selling at current price levels with short-term objectives to the 1.2920 area, around the 200 day moving average. Looking at the chart you will notice that our momentum indicator is in overbought area which is likely to be a correction of the pair, at least to the psychological level of 1.3004.

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



For detail explanation and best discovery on market trends you may visit via EUR/USD - sell bellow 1.3140 - for April 10, 2013 (daily strategy) . Thanks for your support on EUR/USD - sell bellow 1.3140 - for April 10, 2013 (daily strategy)

Silver technical levels and trading recommendations for April 10, 2013 Trend News

Overview

Like we expected yesterday, the H4 chart demonstrates today that silver failed to break the Resistance level 28.00 and currently the metal is starting to reverse its bullish movement and approaching the Support level 27.50. If silver manages to close 4H below the Support level 27.50, it provides a good opportunity to sell below the Support level 27.50 with a level target of 27.00. After that we should wait for breaking out of this Support level to continue the bearish move, then we will get a bearish strength, which will provide new sell signals and enable the Support level of 26.60 as a target level. On the other hand, if silver reverses its bearish move and takes an upward direction after its failure to break the Support level 27.50, it will be a strong indicator for the bullish move, after closing 4H above the Support level enabling the Resistance level of 28.00 again. In this case, we should wait for breaking this Resistance level to continue the bullish view. Based on the given H4 chart, the technical indicators provide sell signals, but as long as the Support level 27.50 is unbroken, the upward move is still expected invalidating the downward movement. Therefore, we should wait for more confirmations before making a decision.

Resistance and Support levels R3 (29.00) R2 (28.45) R1 (28.00) S1 (27.50) S2 (27.00) S3 (26.60)

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



For detail explanation and best discovery on market trends you may visit via Silver technical levels and trading recommendations for April 10, 2013 . Thanks for your support on Silver technical levels and trading recommendations for April 10, 2013

Gold prints fresh highs around 1,590.00 Trend News

Technical outlook and chart setups:

As seen here, the yellow metal still remains in the Sell Zone below the sloping down trendline. It should also be noted that the short term trendline has already been broken and prices could possible break the longer trend line as well. Prices have reversed from 1,590.00 level for now which is also re-enforced by past support and hence is resistance now. If prices are inclined to rally further, the current retracement should find support around 1,560.00 level and bounce back. This would be another great buying opportunity provided by Gold. Earlier long positions can still be held and further addition should be planned around 1560.00 level. Resistance is at 1,615/20 level now and prices need to steer clear that level to declare a major trend reversal ahead.

Trading recommendations:

Hold long positions, stop is at 1,521.50, 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 Gold prints fresh highs around 1,590.00 . Thanks for your support on Gold prints fresh highs around 1,590.00

Silver hits 28.00 before reversing. 26.00 remains key here Trend News

Technical outlook and chart setups:

The metal still remains below the sloping down trendline as depicted on charts here. After printing fresh highs at 28.00 level, the metal is retracing for now. The area of interests for fresh buying would be 27.10/15 again, which was also past resistance turned support now. Furthermore, the 0.618 Fibonacci support falls around that region. It is still recommended to hold long positions taken earlier and also plan for buying fresh on a bounce at 27.00 level. Please note that silver needs to take out resistance at 29.20/30 and possibly 29.50 to declare a long-term reversal possibility. On the lower side 26.00 level are of key interest; if broken down, a huge shift in trend can be expected.

Trading recommendations:

Remain long, stop is at 25.95, 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 Silver hits 28.00 before reversing. 26.00 remains key here . Thanks for your support on Silver hits 28.00 before reversing. 26.00 remains key here

EurJpy rallies to 130.50. Reversal on cards now Trend News

Technical outlook and chart setups:

The single currency pair has reached fresh highs at 130.50 level today, as depicted on the daily chart view here. Please note that current price is Fibonacci resistance, shown as red lines here. A bearish reversal here is highly probable and hence it is recommended to restrain from taking long positions at current levels. In fact, a meaningful pullback or retracement is expected any time towards at least 124.00/125.00 levels in the coming trading sessions. Strong support remains fixed at 119.00 level, followed by 117.00/116.00, 114.00 and lower. In spite of the fact that our shorts got stopped out today, it is still recommended to initiate fresh short positions as aggressive trading strategy. Watch out for a daily chart reversal soon enough!

Trading recommendations:

Initiate fresh short positions now (130.20/22), stop is at 130.80, 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 rallies to 130.50. Reversal on cards now . Thanks for your support on EurJpy rallies to 130.50. Reversal on cards now

GBP/USD: Intraday technical analysis for April 10, 2013 Trend News

Overview:

GBP/USD: The price is still between the levels 1.5290 and 1.5340, so it is recommended to be cautious while making deals in this area. Therefore, it is necessary to wait till the sideways channel is passed through. Then, the market will probably indicate the signs of a bullish trend. In other words, BUY-deals are recommended higher than 1.5242 (this level is already set on the weekly pivot point) level with its first target at level 1.5360 (this point will be formed a double top at 1.5362). From this point the pair is likely to begin the ascending movement to the point 1.5400 and further to the level 1.5452 (it should note that level is the weekly resistance 1). However, if the pair fails to pass through the level 1.5452, the market will indicate a bearish opportunity below the strong resistance level 1.5452. In this regard, SELL-deals are recommended lower than the 1.5452 level with the first target of 1.5370. It is possible that the pair will turn to downward movement continuing the development of the bearish trend to the level 1.5290 in order to form a new support for the next week.

If you have any questions or requests, please feel free to contact me: mourad.elkeddani@analytics.instaforex.com.

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



For detail explanation and best discovery on market trends you may visit via GBP/USD: Intraday technical analysis for April 10, 2013 . Thanks for your support on GBP/USD: Intraday technical analysis for April 10, 2013