EUR/USD - bearish outlook - for April 18, 2013 (daily strategy) Trend News

Yesterday during the American session the EUR/USD fell but again managed to stop down the psychological level of 1.30. This morning it has traded with a small upward bias. It is likely that today and tomorrow it recovers losses from Wednesday, but in the medium term this pair has a bearish sequence, which we believe can reach the level of 200 moving average. If the pair closes below this level, the outlook for the euro would be very bearish again; its objective would be at 1.25. Now the channel range has widened between 1.32 and 1.30. Outside these levels we will define the next move for the next few days. On the other hand the Momentum Indicator is in overbought zone, which increases the probability of a bearish movement for the next few days.

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

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AUD/USD - buy rebound - for April 18, 2013 (daily strategy) Trend News

The Australian dollar continues its downward trajectory, after the great reversal on Monday that ended in a short-term uptrend at 1.0593 level fractal. This morning in this American session it has traded around 1.0299 daily fractal. At the moment, the pair is at 1.0287. Given the fact, the Momentum Indicator has found a support area which has indicated a probable rebound of the pair, we recommend buying the pair at current levels with targets at 1.0374 and 1.0522.

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

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Silver may be setting up for counter-trend rally towards 25.20 and 26.40 Trend News

Technical outlook and chart setups:

A Daily chart view has been depicted here for a larger swing view and following can be noted here:

1. Past support turned resistance region is defined by 26.30/50 region.

2. Intermediary support is just above 22.00 (the recent lows); while resistance levels are 26.30/50, 27.80/90, 29.10/20, 32.30, and higher.

3. There is no clear bullish reversal signal on the Daily chart but small timeframes are hinting at a pullback/recovery towards 25.20 and 26.40 levels.

4. It should not be surprising to see prices remaining in a trading range for a while before accelerating gains. Still a bottom formation is possible between 20.00 and 21.40 levels.

Trading recommendations:

Initiate 50% of capacity now, stop is at 21.80, and targets are at 25.20 and 26.40.

Good luck!

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Gold recovery seems to be underway. 1,450 and 1,520/30 could be seen. 1,320.00 should hold Trend News

Technical outlook and chart setups:

A simple 4H chart view has been depicted here. It seems the yellow metal is gaining strength to recovery towards 1,450 and 1,520/30 levels. After bottoming out at 1,324.00 level, the metal has tested the same and bounced back from 1,338.00 level during the day. It is recommended to buy 50% of capacity now at 1,393.00 and remain 50% around 1,350.00. Immediate supports are at 1,324.00, followed by 1,290.00/1,300.00, and 1,150.00 on the lower side. Resistance is spanned through 1,520/25 (this is past support turned resistance), followed by 1,590.00, 1,620/30, 1,650/60 and higher. After such a huge price action, it is quite normal to remain subdued/sideways in a trading range hence a trading range formation would not be a surprise.

Trading recommendations:

Buy now, stop is at 1,320.00, target 1 is at 1,450, and target 2 is at 1,520.00.

Good luck!

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EurJpy in range-trade. Flip to long now Trend News

Technical outlook and chart setups:

The single currency pair is clearly providing a range trading opportunity within the triangle formation shown here on chart view. It is recommended to book profits on short positions initiated yesterday from around 129.30/40 levels; and initiate long positions now (128.50/55) region. A clearance of 129.10/20 levels now, would take prices to fresh highs above 131.00, while a break of 127.00 level would bring down prices to retest 125.00 and probably towards 123.50 levels, which is the Fibonacci 0.618 support of the entire rally from 119.00 to 131.00 recently. Immediate support within the triangle is 126.50 and 125.00 on the lower side, while resistance is 129.70, followed by 131.00 level. Trading the range is recommended strategy for now.

Trading recommendations:

Book profits on short positions from yesterday. Go long now, stop is below 126.00, and target is open.

Good luck!

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GbpChf retraces hitting backside of trendline. Resistance between 1.4220/50 Trend News

Technical outlook and chart setups:

The single currency pair has pulled back towards the back side of the trendline which is resistance now, as seen on chart view here. The 1.4220/50 region is resistance which is confluence of Fibonacci ratios and support turned resistance trendline. It is recommended to initiate fresh short positions now (1.4180/90) with a downside projection towards 1.4030 at least. Immediate resistance is now at 1.4350 region, followed by 1.4400, and 1.4480 respectively, while supports are spread through 1.4030 and below 1.4 level. Please also note the sloping resistance line depicted on chart here, the prices should follow this immediate trendline to guide itself lower from here on. Only a clear break of this trendline and 1.4350/60 levels should be a cause for worry for the bulls.

Trading recommendations:

Initiate fresh short positions, stop is at 1.4350/60, and target is below 1.4.

Good luck!

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