Technical analysis of Silver for January 09, 2014 Trend News

Technical outlook and chart setups:

1. Silver has broken out the short-term resistance line in the past few trading sessions. Also it is seen to be back testing the line, which is support now at the $19.00/20.00 levels. It is recommended to initiate 50% long positions at the current level of $19.65; risk remains at $18.60.

2. Immediate resistance is at $20.50, while support is at the $19.00/20 level, followed by $18.75, $18.00, and lower.

3. The structure reveals that till prices are above $18.75, bulls would want to take out the 20.50 resistance and extend further towards $21.50.

Trading recommendations:

Initiate 50% long positions, set stop at $18.60, target is at $21.50.

Good luck!

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



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Technical analysis of EUR/JPY for January 09, 2014 Trend News

Technical outlook and chart setups:

1. The currency pair has broken the shorter-term support trend lines as seen here in the 4H chart. A pullback is expected towards the 144.00/30 levels at least now. It is recommended to remain flat for now and prepare to sell around 144.00.30.

2. Resistance is at 145.50, while support is at 141.00, followed by 138.50, 134.00 and lower. The recent fall could well be just a retracement before further advance higher since 141.00 is still intact.

3. The structure reveals that a rally and failure at the 144.00/20 level would prove extremely bearish for EUR/JPY and indicate that a meaningful top is already in place at 145.50.

Trading recommendations:

Remain flat for now. Preparing to enter short at 144.00/20.

Good luck!

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



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Technical analysis Of GBP/CHF for January 09, 2014 Trend News

Technical outlook and chart setups:

1. The currency pair has stopped us out at 1.4950 in the past session. As seen in the weekly chart here, a former resistance at 1.5000 has also been broken. It is recommended to remain flat for now. The 1.5150 level is into focus now.

2. The next resistance is at the 1.5150 level, while support is just below 1.4900, followed by 1.4800 and lower.

3. The structure reveals that GBP/CHF is on its way towards at least 1.5150 for now. A bearish reaction there could possibly reverse the trend.

Trading recommendations:

Flat for now.

Good luck!

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



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