Silver tests 28.00 as expected, before reversing. Remain long Trend News

Technical outlook and chart setups:

Let us go through the larger wave structure presented by the Daily chart view again. The AB rally from sub 26.00 level to 35.00 level can be seen towards the larger trend which is up. BC move from 35.00 to sub 28.00 level can be termed as counter trend for now. A CD extension is expected from 28.00 level to 41.00, 44.00 and higher in the coming months now. Supports are defined by 28.00 level, followed by 27.50, 26.50 and lower; while resistances are defined from 29.50 level, followed by 30.30, 31.20, 32.50, 33.50, and higher up. It is just a matter of time now, for a break above 29.50, since yesterday’s movement can be defined as the final test before the extended rally. Bottom line: Till the time prices are ahead of 28.00 bulls would remain in control.

Trading recommendations:

Remain long, stop is at 27.00, and 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 Silver tests 28.00 as expected, before reversing. Remain long . Thanks for your support on Silver tests 28.00 as expected, before reversing. Remain long

Gold forms higher bottom at 1,590/92. Immediate target remains at 1,660 Trend News

Technical outlook and chart setups:

Let us again re-visit the larger wave structure depicted here on the daily chart view. The AB rally from 1,520/30 levels to 1,798.00 level in mid-2012 was towards the larger trend rally. BC fall from 1,798.00 to 1,555.00 can be termed as a counter trend as of now. The CD rally would be termed as final extension towards the larger trend which would exceed 1,900.00 level in the coming months. Believe it or not, till 1,555.00 remains intact, a higher bottom is in place for sure which would ensure rally towards the larger uptrend. Supports can be defined as 1,555.00, followed by 1,550 and 1,525/30; while resistances can be defined as 1,650/60, followed by 1,680/85, 1,700.00, 1,750.00, and higher up. The immediate wave structure is awaiting to take out resistance at 1,660.00 levels, which is just a matter of time.

Trading recommendations:

Remain long, stop is at 1,550.00, and 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 Gold forms higher bottom at 1,590/92. Immediate target remains at 1,660 . Thanks for your support on Gold forms higher bottom at 1,590/92. Immediate target remains at 1,660

GbpChf marginally exceeds 1.4410/20. Key remains at 1.4530 Trend News

Technical outlook and chart setups:

A daily chart view has been presented here for a larger wave structure preview. Please note the following facts as depicted here:

1. The major support trend line from 1.3800 level was breached earlier in 2012.

2. Prices formed a sequence of lower lows and lower highs around 1.4000 level. Support at 1.42 was broken in this process.

3. Immediate resistance remains at 1.4530/40 levels for now. A break above would open doors for a larger rally/pullback towards the 1.47/1.48 region.

4. The overall wave structure maybe possibly unfolding a larger Head and Shoulder reversal, and the right shoulder remains around 1.47/1.48 levels as depicted here.

5. Keeping the above facts in mind, it is recommended to remain short for now. In case 1.4530 is exceeded, we would look for pullback opportunities to go long.

Trading recommendations:

Remain short for now, stop is above 1.4550, target is below 1.4. If stop is triggered, we shall be looking to go long on dips.

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 marginally exceeds 1.4410/20. Key remains at 1.4530 . Thanks for your support on GbpChf marginally exceeds 1.4410/20. Key remains at 1.4530

Silver prints lower levels below 28.50 today. 28.00 remains key for bulls Trend News

Technical outlook and chart setups:

The metal has just fell below the trading range support at 28.50 as seen on the 4H chart view presented here. Nonetheless, the current levels, around 28.25, should remain well supported since 0.786 Fibonacci support falls here. A break below would expose 28.00 level which is the bottom line for bulls to remain in control here. Intermediary resistance is now at 28.70/80, followed by 29.20, and strong resistance remains at 29.50, 30.20/30, 31.20 and higher up; while support is just below 28.00 level for now. It is quite possible that prices test 28.00 level again before staging rally on the higher side; and hence recommendations are to remain long for now till 28.00 level remain intact. Looking higher after test.

Trading recommendations:

Hold on to long positions, stop is at 27.00, and 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 Silver prints lower levels below 28.50 today. 28.00 remains key for bulls . Thanks for your support on Silver prints lower levels below 28.50 today. 28.00 remains key for bulls

Gold bottom seen between 1,590/92 today. Remain long Trend News

Technical outlook and chart setups:

The yellow metal is forming the next higher low around 1,590/92, as seen on the 4H chart view depicted here. The series of recent lows/supports are 1,555.00, 1,560/65, 1,570/72, and now 1,590/92. Resistances are lined up from 1,650/60, followed by 1,680/85 and higher. Looking into the shorter wave structure since 1,555.00 lows, prices have been forming higher supports. With a bottom near current levels, the next immediate move should be towards 1,620.00 level, followed by 1,660.00, and higher. Hence it is recommended to remain long and add further positions at current levels. The daily chart wave structure depicts a move higher till the time prices stay above 1,555.00 consistently. Prices have held 1,580 level well which is re-enforced by the 0.786 Fibonacci support of the entire upswing between 1,520/30 to 1,798.00 earlier. Bottom line: Expect higher levels, till 1,555.00 is in place.

Trading recommendations:

Hold on to long positions, stop is at 1,550.00, and 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 Gold bottom seen between 1,590/92 today. Remain long . Thanks for your support on Gold bottom seen between 1,590/92 today. Remain long

EurJpy bullish above 119.00 Trend News

Technical outlook and chart setups:

The single currency pair seems to be forming base at 120.00 level. It is re-enforced by Fibonacci 0.786 retracement level as seen here. No doubt there is not enough proof at the moment to confirm a bullish reversal and it is possible that EurJpy continues sliding down below 119.00 level and further. But looking into RSI, around 30-35 and MACD providing divergence, it is quite likely that bottom is near and a bullish reversal should materialize. Intermediary support levels are 120.00, followed by 119.00/118.75, 117.00, and lower, while resistances are lined up from 124.00, followed by 126.00, 127.00, and 127.90 respectively. It is recommended that at least 30-40% capacity should be bought at the moment, leaving room for a possible higher low formation ahead of 119.00 level. Bottom line: Bullish possibility remains till above 119.00.

Trading recommendations:

1. Aggressive Approach is to buy 30-40% of capacity at current levels (121.00/10). Stop is at 118.50, and target is open.

2. Conservative approach is to wait for a break above 123.50.

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 bullish above 119.00 . Thanks for your support on EurJpy bullish above 119.00

GbpChf retests 1.4410/20 and reverses. Optimum short entry Trend News

Technical outlook and chart setups:

The single currency pair, as seen on the 4H chart view here, hit 1.4411 level yesterday and produced an engulfing bearish trade signal. At the moment it has re-tested yesterdays' highs and pulled back sharply again. This price action confirms that a lower top is in place at 1.4420/30 levels and the pair is ready to resume its underlying down trend. Support levels are lined up from 1.4200/50 levels, followed by 1.4030 level and just below 1.4; while resistance levels are lined up from just above 1.4500, followed by 1.4800 and above respectively. It is recommended to continue holding short position, and go further short at current levels. Wave structure remains intact with the counter trend finishing at expected levels of Gartley around 1.4411; expected down trend continues. Bottom line: Bearish below 1.4500/30.

Trading recommendations:

Hold on to short positions, stop is above 1.4550, and target is below 1.4.

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 retests 1.4410/20 and reverses. Optimum short entry . Thanks for your support on GbpChf retests 1.4410/20 and reverses. Optimum short entry