Gold minimum target should be at $1,150/60. Trend News

Technical outlook and chart setups:

The metal is making lower lows and lower highs and till the time it continues, there is no reason to believe that the trend has changed. As depicted here, at the moment, resistance is seen around the $1,210/20 region, and fresh short positions can be initiated if the price reaches there. Downside extensions are pointing towards $1,160.00 and $1,145.00 respectively. The immediate swing resistance is at $1,250.00 and till the time the price stays below it, bears are clearly in control. Support is at $1,180.00 for now, followed by the $1,150.00 region respectively. We expect some bullish reaction at the $1,150.00 levels, but a break will open up lower levels.

Trading recommendations:

Sell towards $1,210/20, set stop at $1,250.00 and target is at $1,160.00

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 minimum target should be at $1,150/60. . Thanks for your support on Gold minimum target should be at $1,150/60.

EURJPY still range bound. Support is at 141.00 Trend News

Technical outlook and chart setups:

We took a closer look at the 4H chart. As seen here, the currency pair has been trading in a range of support (141.00) and resistance (142.70/80) for several sessions now. At the moment, short positions have been taken and it still recommended to remain short with risk just above 143.00. A breakout on the north side would however warrant further upside potential, and it would be advisable to flip to long positions above 143.00 levels. On the other hand, a break down of 141.00 would be extremely bearish and push prices to atleast 139.00 levels. Further support levels are 138.50, 137.00 and 134.00 respectively.

Trading recommendations:

Existing short positions could be held with a stop above 143.00. Fresh positions should be taken only upon a breakout to either side.

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 still range bound. Support is at 141.00 . Thanks for your support on EURJPY still range bound. Support is at 141.00

GBPCHF turns from resistance between 1.47-1.4750. Hold short positions Trend News

Technical outlook and chart setups:

As expected, the currency pair has reversed from the resistance zone of 1.4700/50, producing an engulfing bearish candle. Short positions might have triggered and it is recommended to hold the same and also add on intraday rallies from here on. Risk remains at 1.4900. Resistance is at 1.4900; while support is at 1.4350, followed by 1.4200 and 1.4000 respectively. The entire structure might be unfolding as a head and shoulder reversal; where the current engulfing bearish is probable right shoulder. Extensions are pointing towards 1.4150 and 1.4000 levels respectively. Prices should remain below 1.4900 levels from here on.

Trading recommendations:

Remain short, set stop at 1.4910, 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 GBPCHF turns from resistance between 1.47-1.4750. Hold short positions . Thanks for your support on GBPCHF turns from resistance between 1.47-1.4750. Hold short positions