Silver targeting sub 26.00 at least for now Trend News

Technical outlook and chart setups:

As seen here, the metal is still subdued in a trading range and we are still waiting for a break above 24.00 level convincingly. Immediate targets for the metal are 25.00 and 26.00/27.00 levels as Fibonacci extension levels are depicted in RED. Please note that 26.00/50 levels is the area of past support turned resistance level now, hence that would be of interest for a possible exit of long positions taken and re-entering shorts. Higher up resistance levels are at 28.00/10, followed by 29.20/30, 32.20 and higher, while intermediary support is at sub 22.00 level, followed b 21.50 and 20.00 respectively. It is recommended to remain long for now, till around 25.00/26.00 levels and then reverse. Also note that a fresh new low between 20.00 and 21.50 still remains a possibility before a bullish reversal can materialize.

Trading recommendations:

Remain long for now, stop is at 21.80, and targets are at 25.00 and 26.00.

Good luck!

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Gold targeting 1,450.00. Remain long for now Trend News

Technical outlook and chart setups:

Gold continues to move in a sequence of higher highs and higher lows forming lows at 1,320.00 level recently. The measured upside targets for the yellow metal are 1,450.00 and then 1,520/30 as depicted here as Fibonacci extensions in the RED. It is therefore recommended to remain long for now and utilize intraday dips as buying opportunities. Immediate resistance is at 1,500/20 levels, which was past support turned resistance now. The 0.618 Fibonacci resistance of the downswing is also at 1,507.00 level as seen here in PURPLE. This would be exit for long positions and initiating short positions. Higher up resistance levels are at 1,550/60, 1,620/30, and higher, while intermediary support is at 1,320.00 for now, followed by 1,200/1,150 levels on the lower side.

Trading recommendations:

Hold on long positions for now, stop is at 1,315.00, targets are at 1,450 and 1,505.

Good luck!

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



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EurJpy at crossroads, book profits on long positions now at 130.10/20 Trend News

Technical outlook and chart setups:

The single currency pair has moved out of the triangle on Friday as depicted here on the 4H chart view. Please note that the downside risk still remains towards 123.00 level as shown here in the RED. It is recommended to book profits on long positions taken for now around 130.10. Major resistance is at 131.00, while supports are spread through 129.00 level, followed by 126.50, and 125.00 respectively. Please note that prices need to fall below 129.00 level for the downside to accelerate further. Aggressive trading strategy could be to short small quantity respecting the engulfing bearish signal that has appeared on the 4H chart as seen here.

Trading recommendations:

1. Book profits on long positions taken earlier.

2. Initiate short positions (aggressive trading strategy), stop is at 131.50, and target is open.

Good luck!

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



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GbpChf setting up to resume downswing below 1.4. Remain short Trend News

Technical outlook and chart setups:

The single currency pair is setting up for an extended downswing towards 1.4 and lower as seen on the 4H chart depicted here. Resistance is consolidated at 1.4350/60 levels, followed by 1.4400 and 1.4480 on the higher side; while intermediary support is at 1.4030, followed by 1.4 and lower respectively. The last rally can be seen as a retracement of the downswing from 1.4480 levels, at the moment. Please note that 1.4530 level is still seen as trend defining resistance level and bears would remain in control till the time prices remain below the same. Bottom line: Remain short for now.

Trading recommendations:

Hold on short positions and sell rallies (intraday), stop is at 1.4350/60, and target is below 1.4

Good luck!

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



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