Silver could possible see support around 22.00. Looking to sell rallies Trend News

Technical outlook and chart setups:

The metal is heading towards 21.00/22.00 levels as shown on charts here. Having stopped us out at 25.95 on Friday, the same level has turned to be resistance now for any rallies to be well capped below. Looking into the wave structure and momentum right now, it is recommended to remain flat and refrain from taking positions on either directions. Silver is possible headed straight towards 21.00/22.00 levels, which is past resistance turned support now. Furthermore it is represented by the 0.618 support of the entire rally from 10.00 to 49.00 levels since 2008. Looking to sell rallies towards 25/26 if prices provide opportunities or to buy low.

Trading recommendations:

Flat for now. We cannot buy before 21.50/22.00. Prepare to sell counter trend rallies.

Good luck!

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



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Gold moves towards major correction lower. 1,520/25 resistance now Trend News

Technical outlook and chart setups:

The yellow metal BREAKS multi month support at 1,520/25 levels on Friday giving in almost 8-10% lower immediately. The intraday lows are at 1,385.00 for now and it is expected to produce a counter trend rally soon. But rather than bottom fishing and loosing trades, it is recommended to stay flat for now and let a counter trend reversal signal be produced, or wait to initiate short positions at major support turned resistance at 1,520/25 as shown on the chart here. Please note that buying should be completely avoided for now, and selling rallies should be favored trading strategy from here on. The entire structure reveals that the yellow metal could be heading towards 1,200-1,500 levels on the lower side. This is re-enforced by the 0.5% and 0.618% of the entire rally from 780 to 1,930 level since 2008. Looking to sell rallies from here on.

Trading recommendations:

Flat for now. Looking to sell rallies aggressively now. 1,520/25 remains on interest to go short.

Good luck!

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



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EurJpy at support region around 127.50/60. Looking to buy again Trend News

Technical outlook and chart setups:

The single currency pair did not provide a short trade opportunity at 130.00 as expected. Currently trading is around 127.74 level, the pair is at past resistance turned support zone as depicted on chart view here. It is recommended to initiate long positions now, for at least a meaningful pullback or fresh highs above 131.00. Immediate Fibonacci support is at 12.20/30, followed by 124.50/60, and 124.00 respectively, while strong support is at 119.00 level, followed by 117.00-116.00 and lower. The fall from sub 130.00 level can still be considered as retracement, and buying at lower support levels would be a favorable strategy.

Trading recommendations:

Buy now at 127.60/80, stop is below 125.00, and target fresh highs.

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 at support region around 127.50/60. Looking to buy again . Thanks for your support on EurJpy at support region around 127.50/60. Looking to buy again

GbpChf bounces lower just ahead of 1.4380 Trend News

Technical outlook and chart setups:

The single currency pair has reversed ahead of 1.4380, which was the measured extension, as discussed on Friday. Furthermore, fresh lows have been printed just ahead of 1.4200. It is recommended now to get in the direction of trend and initiate fresh short positions now. As depicted here, the intermediary levels of resistances are lined up from 1.4340/50, followed by 1.4400 and 1.4480 respectively, while strong resistance is at 1.4530 level. Supports are spread across 1.42 level, followed by 1.4030 and 1.4 respectively. Sell intraday rallies from here. Looking lower from here on.

Trading recommendations:

Initiate short positions now, stop is at 1.4500, and targets are at 1.38/1.37.

Good luck!

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



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