Silver has bounced off the trendline. Long Positions can be initiated. 22.50/60 is strong support Trend News

Technical outlook and chart settings:

As seen here, the metal has retraced as per expectations yesterday and bounced off right from the trendline support (drawn from recent swing lows), around 23.30/35 levels. This region is also re-enforced by the past resistance turned support as seen on the chart. Hence, it is recommended to initiate long positions now (23.60/65), for an upside target of 25.00/26.00 levels. Resistance is at 26.00/50 levels (past support turned resistance), 28.00, 29.10/20 and higher, while immediate strong support is 22.50/60, followed by 22.00, 21.40/50 and lower. Bottomline: buying intraday dips should be favored trade strategy for now.

Trade recommendations:

Buy now (23.60/65), stop at 22.00, target 25.00/26.00.

Good luck !

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Gold support seen at 1,380-1,400 region Trend News

Technical outlook and chart settings:

The yellow metal has retraced down to 1,440.00 levels yesterday before pulling back. As seen here, support region is spread through 1,430.00, followed by 1,400.00 and 1,380.00; while resistance level is 1,480/85 (intermediary), followed by 1,500/10 levels (major support turned resistance), 1,580/85 and higher. As discussed yesterday, the Gartley extension is around 1,400.00 levels, hence it is recommended to enter buying Gold around 1,400.00 levels for an upside target of around 1,500/10 levels. Please also note that the uptrend line from recent lows is passing through 1,420.00 region, hence buying there is also favorable.

Trade recommendations:

Buy around 1,400/20 levels, stop at 1,350.00, target 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 support seen at 1,380-1,400 region . Thanks for your support on Gold support seen at 1,380-1,400 region

GBP/CHF may be ready for a rally. recommendations are to exit short around 1.4450 levels Trend News

Technical outlook and chart settings:

The structure remains unchanged for now, as depicted here. This currency pair is preparing to rally for now towards at least 1.4500/1.4550 levels. It is therefore recommended to book profits on short positions around 1.4450. Aggressive traders could go long with a reasonable risk/reward ratio; since there remains possibility for prices to reach 1.47/1.48 levels as well. Please note that 1.47 region is marked by the past support turned resistance now; and we shall review further possibilities when prices reach there. Major resistance is 1.5 levels, followed by 1.51/52 and higher as seen here; while support is strong at 1.4075, 1.4030 and 1.4 levels.

Trading recommendations:

1. Book profits on short positions.

2. Aggressive trading strategy would be to go long around 1.4450, stop below 1.43, target 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 GBP/CHF may be ready for a rally. recommendations are to exit short around 1.4450 levels . Thanks for your support on GBP/CHF may be ready for a rally. recommendations are to exit short around 1.4450 levels