Silver remains constructive with double bottom formation seen at 28.00 Trend News

Technical outlook and chart setups:

As seen on the 4H chart depicted here, Silver seems to have formed a double bottom at 28.00 level as it was discussed last Friday. A morning star appearing at support level is a sign of bullish reversal ahead, and one should position on the long side from here on. Immediate resistance is at 29.20/30 and this should be broken, to confirm further. Support is just below 28.00 level and it has held till now. Moving ahead, till the time prices stay ahead of 28.00, bulls should remain in control and resistances lined up from 29.50, to 30.30, 31.20, and higher up should be broken in the coming trading sessions. Bottom line: Silver is preparing for an April rally, till it remains above and holds 28.00 levels from here on.

Trading recommendations:

Remain long, stop is at 27.00, and target is open.

Good Luck!

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Gold remains unchanged for now. 1,660.00 next target Trend News

Technical outlook and chart setups:

Looking into the 4H chart view presented here, Gold still remains constructive for bulls and a break above 1,615.00 now, would target 1,660.00 level quickly. Please note that the yellow metal has remained sideways since the recent swing lows at 1,555.00; the consolidation sequence has been of constant resistance at 1,615.00 level and increasing supports from 1,555.00, 1,560/65, and 1,580.00. Currently trading at 1,600.00 level again, it is pretty close to breaking out above the resistance line shown here. As discussed earlier, sideways breakouts are very powerful and hit targets (here at least 1,660.00 level) pretty fast. It is again recommended to remain long and use intraday dips as great opportunities to build long positions. Bottom line: Looking higher from here on.

Trading recommendations:

Remain long, stop is at 1,550.00, target is open for the long term. 1,660 is immediate.

Good Luck!

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



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EurJpy dips but 119.00 holds. Remain long for expected final rally Trend News

Technical outlook and chart setups:

As seen on the 4H chart view here, the single currency pair seems to have again tested 119.00 level before bouncing back. Shorter timeframes indicate a possible pullback rally from here on. As shown here, the immediate/intermediary support is just below 119.00 level and it has held till now. As we have been discussing earlier, even if prices were to fall back towards a low (below 119.00), the 3 wave counter trend structure needs to be completed. Hence a minimum lower high should form above 126.00 level in the coming sessions. Only a break below 118.50 from here would nullify a possibility of the rally. Till then, it is recommended to remain long. Resistance is seen at 124.00 level, followed by 126.00, 127.90, and 128.00; support is at 119.00 level, followed by 117.00, 116.00 and lower. We shall discuss the larger wave structure if 118.75 is broken today.

Trading recommendations:

Stay long for now, stop is at 118.40/50, and target is 126.00 at minimum if not higher.

Good Luck!

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GbpChf stalling ahead of 1.4530, marked as resistance Trend News

Technical outlook and chart setups:

Looking into the 4H chart view depicted here, the single currency pair has been stalling recently, just ahead of resistance marked at 1.4530/40 levels. Furthermore, 1.4450 is also 0.786 resistance of the downswing from 1.4530/40 to 1.4000 earlier. Please note that the inner support line has been broken and the prices seem to be testing backside of the line which is past support turned resistance now. A push below 1.4380/70 mark would re-affirm that bears are back in control and that the counter trend (up) is over. Therefore, it is recommended to remain short from earlier positions and also look to add fresh positions now if required. Till the time prices are below 1.4530/40 levels, looking lower. The scenarios would change if 1.4530/40 gives way. In that case, we shall shift focus to buy on dips.

Trading recommendations:

Remain short for now, stop is at 1.4580, and target is below 1.4.

Good Luck!

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EUR/USD - key level of 1.2880 - for March 29, 2013 (daily strategy) Trend News

Yesterday the euro raised its head after the downward pressure, rejecting the level of 1.2750. Now it is trading above the 1.2820 level. If you noticed the pair is trading below the 200 day moving average, which adds the pair a bearish outlook in the medium term. Therefore, do not buy at the current levels unless the pair trades back above the 200 day moving average periods. On the other hand if the pair rejects this level, we can sell below 1.2875 with objectives to the level of 1.2750 and below to the level of 1.2640. On the other hand, if the pair closes above 1.2880, we can buy with objectives to the psychological level of 1.30 and to closing the gap at 1.3174. The Momentum Indicator is in positive territory, showing a recovery in the euro for the next few days.

If you need personal consultation, contact me via e-mail: gerardo.porras@analytics.instaforex.com

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GBP/USD - sell below 1.5145 - for March 29, 2013 (daily strategy) Trend News

Earlier this month the pound sterling hit a minimum at 1.4830. This pair has recovered positions for more than 400 pips, which now trades at 1.52 level, from a daily perspective this pair now trades below the long-term bearish channel (red), and over the short-term bullish channel (green). We must be attentive to these levels, since the breakdown of the short-term bullish channel could push down the pair to the 1.4930 level, strong support on the weekly charts. We believe the pair should have a more prolonged decline because the momentum indicator is in overbought area getting ready for a bearish signal in the coming days. Therefore we recommend selling below the uptrend line with objectives to 1.4930.

If you need personal consultation, contact me via e-mail: gerardo.porras@analytics.instaforex.com

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



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AUD/USD - bearish outlook - for March 29, 2013 (daily strategy) Trend News

Losing positions against the dollar and after reaching the roof of the bearish channel, this pair is trading under downward pressure; the break of 1.0410 could accelerate the fall of the Aussie to 1.0373 fractal level and line of the moving average 200 days. If the pair closes below this level, the next bottom is left as support in 1.03, as the final objective. The MACD indicator is showing a bearish signal. Therefore, we recommend selling this pair, if given a pullback to the area of 1.0460, with short-term objectives to 1.03.

If you need personal consultation, contact me via e-mail: gerardo.porras@analytics.instaforex.com

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