Silver Drops Below 32.00 Level. Buying On Dips Still Remains Favoured Strategy Trend News

Technical Outlook and Chart Setups:

Silver stopped us out below 32.00 in the last trading session. Still the structure remains constructive for bulls. It is quite possible that silver has completed an A-B-C correction from 34.30/40 levels, and that the metal is ready to rally again. Intermediary support now begins from 30.60/70 levels followed by 30.00 level; while resistance (intermediary) is at 33.60/70, 34.30/40, and 35.10 respectively. It is still recommended to consider dips as fresh buying opportunities and build long positions. If prices manage to reach 30.00 level, it will be considered best buy since the Fibonacci 0.618 support level of the rally between 26.00 to 35.00 is re-enforced there.

Trading Recommendations:

Buy at current levels, stop is at 29.80. Target is above 37.00.

Good Luck!

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Gold Breaks 1672.00. Buying On Dips Still A Favourable Strategy Trend News

Technical Outlook and Chart Setups:

The yellow metal has stopped us out below 1,672.00 in the last trading session. Yesterday’s swing count was presented here. Wave 4 is looking to be formed at/between 1,635.00 to 1,645.00. Furthermore, it is also quite possible that yesterday’s spike lower than 1,672.00 level might have completed the necessary A-B-C correction from 1,795.00 level. It is recommended to buy 50% capacity around current levels and the remaining around 1,645.00 region. Also the 1,645.00 region is re-enforced by Fibonacci 0.618 support of the rally from 1,530/40 to 1,795.00. Buying on dips still remains the recommended trading strategy.

Trading Recommendations:

1. Aggressive: Buy 50% capacity now, remaining 50% at 1,645.00, Stop is at 1,610/20. Target is open.

2. Conservative: Buy between 1,640.00 and 1,645.00. Stop is at 1,610/20. Target is open.

Good Luck!

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EurJpy Hits Target At 111.00. Take Profits For Now Trend News

Technical Outlook and Chart Setups:

The single currency pair has risen past resistance above 111.00, printing fresh highs today morning. As depicted here, 111.00 was embarked by past resistance and also the Fibonacci target of the rally from 94.00 to 104.00 levels. Therefore, it is recommended to book maximum (80%) profits at current levels (111.60). Support on Daily Charts is quite far at 106.00, followed by 105.20. A meaningful pullback is possible towards 109.00 level before the next rally.

Trading Recommendations:

Book profits on longs at current levels. Wait for a pullback to re-enter.

Good Luck!

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GbpChf Preparing To Breakdown. Stay Short and Move Risk To Breakeven Trend News

Technical Outlook and Chart Setups:

As depicted here, prices just want to break down below the wedge support region defined by 1.4800 - 1.4820 region. A push below 1.4800 would confirm the same. Intermediary support is provided by 1.4800, followed by 1.4700, and 1.4600 respectively. On the other hand, resistance remains lined up from 1.5050/60 region, moving up to 1.5150/60 and above. It is recommended to remain short expecting prices to break down below 1.4800, also selling intraday rallies. Further selling can be made on a breakdown of 1.4800 level also.

Trading Recommendations:

Remain short, move stop loss to at least breakeven. Target is open.

Good Luck!

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EUR/USD Correction - For December 18, 2012 (Daily Strategy) Trend News

The euro had a very low movement yesterday. Friday's session was decisive for the euro, it managed to break the resistance level dynamics 1.3150, and trend indicators are showing it is overbought. Due to the end of year, the low liquidity of the market will be increasing, so we can expect a correction for this pair in the coming days, so we recommend caution.

The indicator on the graph is showing an imminent downward correction, so if you are buying, you should set your trailing stop.

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

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GBP/USD Correction - For December 18, 2012 (Daily Strategy) Trend News

The pound managed to break the 1.6135 level fractal, now it is within a strong upward trend and it is likely to continue rising. However, it is a little exhausted and there is probably a correction downward just like the euro. Fractal level 1.6135 will be the key level again, which now serves as a support for this pair. If the pair reverses to that level, buying this pair will be an opportunity to negotiate with objectives to the level of 1.63.

For now we do not recommend sell because the pound will be very vulnerable to any fundamental facts, we recommend buying support levels.

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

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NZD/USD: Weekly Technical Levels for December 18 - 21, 2012 Trend News

Weekly Technical Levels:

Tip (s):

R3 and S3 are considered to be clear indicators of the maximum range of extreme volatility, though it is possible to pass them through.

Pivot lines work well on the sideways markets, as the prices are most likely to be located between the R1 and S1 lines.

Within a strong trend the price is expected to be lower than the pivot point line and continue the movement.

If the breaking news released may affect the market, the price is likely to go straight through R1 or S1 and even reach R2 and R3 or S2 and S3.



Observation (s):

If the trend is of an upside character, then the strength of the currency will be defined as following: NZD is an uptrend and USD is a downtrend.

Fibonacci retracement is used to determine accurate psychological levels of support and resistance. The period of time should be taken into account.

Fibonacci is in a range trade; it looks like the trend is trapping and going up or down. If you sell or buy for a long term in this period, sure you will lose your profit.

Stop loss should NEVER exceed your maximum exposure amounts.

As a rule, the market has a high volatile if the last day had a huge volatility.



If you have any questions or requests, please feel free to contact me: mourad.elkeddani@analytics.instaforex.com.

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