Technical analysis of Silver for January 13, 2014. Trend News

Technical outlook and chart setups:

1. The metal has rallied from sub $19.00 levels as expected last week. It is recommended to remain long at the moment since further rally could be expected after a correction. Risk remains at the $18.50/60 levels.

2. Immediate resistance is at $20.50, while support is spread through $19.20/30 (intermediary), followed by $18.70/75, and $18.00 respectively.

3. The structure reveals that Silver might have formed a higher bottom at $18.70/75. A corrective fall remains possible though, but intermediary support at $18.70 should hold.

Trading recommendations:

Hold on to long positions, stop at $18.50/60, target is open.

Good luck!

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Technical analysis of Gold for January 13, 2014. Trend News

Technical outlook and chart setups:

1. Gold has rallied towards $1,250.00 in early trade today. Another high around $1,267.00/70.00 could be expected in 1-2 trade sessions before a meaningful correction takes place. The best level to go long would be around $1,206.00-$1,210.00.

2. Immediate resistance is at $1,267.00/70.00, while support is at $1,220.00, followed by $1,210.00, $1,182.00, and lower.

3. Structure reveals that a push higher towards $1,267.00/70.00 is possible now. A meaningful retracement towards $1,210.00 levels would be ideal to go long.

Trading recommendations:

Remain flat for now. Look to buy lower.

Good luck!

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Technical analysis of EUR/JPY for January 13, 2014. Trend News

Technical outlook and chart setups:

1. The EUR/JPY has been drifting sideways since several trade sessions as seen here. Implications from here, should be a rally towards 144.00 atleast. Going long now with a risk of 141.00 would remain an aggressive trade strategy.

2. Immediate resistance is at 145.50, while support is at 141.00, followed by 138.50, 134.00, and lower.

3. The structure reveals that a counter trend rally should begin towards at least 144.00/50 levels before EUR/JPY descends further down. On the other hand, a break above 144.50 levels would push it higher and put 145.50 to test.

Trading recommendations:

Go long now with a stop of 141.00, target is 144.00/50.

Good luck!

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



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Technical analysis of GBP/CHF for January 13, 2014 Trend News

Technical outlook and chart setups:

1. The currency pair has retraced down up to 1.4850 as expected and discussed last week. Please note that this level is the past resistance having turned support now. It is recommended to initiate long positions at the current price (1.4880). Risk remains at 1.4800.

2. Immediate resistance is the 1.5020 level, while support levels are spread through 1.4770, followed by 1.4550, 1.4350, and lower.

3. The structure reveals that till the time prices stay above 1.4800 levels, bulls shall remain in control and print higher highs.

Trading recommendations:

Go long around 1.4870/80, set stop at 1.4800, target is open.

Good luck!

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



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