Gold pullback resumes. Hold long for now. 1,250.00 is interim support Trend News

Technical outlook and chart setups:

The metal seems to have resumed the probable counter trend rally now. Resistance levels are lined up from 1,330.00, followed by 1,350.00, 1,375.00, 1,400.00 and 1,440, while support levels are 1,210 and 1,180, respectively. If the 1,330.00 level is expected now, then we will decide further movements. For now, it is recommended to remain long on positions taken yesterday with risk just below 1,250.00. As depicted here, the structure may be unfolding as a larger downswing which could finally end up printing fresh lows below 1,180.00 levels. General strategy is selling into rallies.

Trading recommendations:

Long for now against 1,248.00 (short-term strategy)

Good luck!

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For detail explanation and best discovery on market trends you may visit via Gold pullback resumes. Hold long for now. 1,250.00 is interim support . Thanks for your support on Gold pullback resumes. Hold long for now. 1,250.00 is interim support

EURJPY targeting fresh highs. 131.00 should hold Trend News

Technical outlook and chart setups:

As depicted here, the currency pair has held the short-term support trendline well till now. Furthermore, prices have bounced off the 0.618 fibonacci support around the 131.00/20 levels. Hence, it is recommended to hold the remaining long positions for now. Immediate support is now seen at 132,60, followed by 131.20/25 and strong support at the 129.90 levels, while resistance is at 135.00, respectively. The overall structure remains bullish for now and buying on dips is encouraged. Looking to print fresh highs till 131.00 remains intact.

Trading recommendations:

Remain long for now, stop at 131.00

Good luck!

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For detail explanation and best discovery on market trends you may visit via EURJPY targeting fresh highs. 131.00 should hold . Thanks for your support on EURJPY targeting fresh highs. 131.00 should hold

GBPCHF consolidation continues. Hold long positions for now Trend News

Technical outlook and chart setups:

The currency pair continues sliding in a 100 pip range for now. It is still recommended to hold long positions taken earlier, and also plan to add near the 1.44 levels, if prices reach there. The 1.45 area is intermediary support for now, followed by 1.42 and 1.4070 on the lower side; while resistance begins from the 1.48 levels, followed by 1.5 on the higher side. As depicted here, the convergence area is the 1.4900/30 level, where the next short opportunity shall be presented. On the other hand, if prices break the rising trendline support, we shall review the situation again.

Trading recommendations:

Hold on to long positions for now. Set stop below 1.43, target is 1.49

Good luck!

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For detail explanation and best discovery on market trends you may visit via GBPCHF consolidation continues. Hold long positions for now . Thanks for your support on GBPCHF consolidation continues. Hold long positions for now

1,290/1,300 remain immediate resistance for Gold Trend News

Technical outlook and chart setups:

The metal broke 1,270.00 and created fresh lows just around the 1250.00 levels. It is recommended to book profits on short positions taken earlier and await for a pullback to go short again. The short-term rally could possibly extend till 1,350.00, before reversing lower again. It is now encouraged to initiate short positions after a counter rally materializes. The short-term resistance is lined up from the 1,290.00/1,300 levels, through 1,325/30, 1,350 and 1,375.00; while support begin from 1,210.00, followed by 1,180.00 respectively. The 1,440.00 level should act as the major intermediary resistance for now. A possible downfall below 1,180.00 may be unfolding now.

Trading recommendations:

Book profits on short positions. Aggressive trading setup is to go long, with stop at 1,245.00, target is at 1,340.00

Good luck!

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For detail explanation and best discovery on market trends you may visit via 1,290/1,300 remain immediate resistance for Gold . Thanks for your support on 1,290/1,300 remain immediate resistance for Gold

Silver bounces off the 0.618 Fibonacci Support Trend News

Technical outlook and chart setups:

The metal is seen to be bouncing off the convergence of:

1. The rising support trendline.

2. The fibonacci 0.618 support of the entire rally from 18.00 to 25.00

3. The past resistance turned support area as well.

Looking into all above, it is now recommended to initiate long positions with a stop below the 19.00 levels. If there is not a fresh high, one can expect a meaning full pullback towards the 24.00 levels.

Trading recommendations:

Initiate long positions now, set stop at 19.00, target is open.

Good luck!

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



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EURJPY remains bullish above 131.00 Trend News

Technical outlook and chart setups:

The currency pair seems to have been consolidating during the last two sessions, after reaching a high of 1.33. It is recommended to keep long positions if you have taken them earlier.The support levels begin from 131.00, followed by 129.00, 128.00 and at 125.00; while resistance is at the 135.00 levels respectively. The entire structure depicts that the pair should remain bullish, as long as prices are above 131.00. In the short term, prices may fall back and test support at the 131.00 levels, before rallying further towards the 136.00 levels. Fresh buying should be made on a retracement/dip from the current levels.

Trading recommendations:

Remain long, stop is below 131.00, target is at 136.00 and higher.

Good luck!

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For detail explanation and best discovery on market trends you may visit via EURJPY remains bullish above 131.00 . Thanks for your support on EURJPY remains bullish above 131.00

GBPCHF eyeing a rally. The 1.44 levels remain best buy Trend News

Technical outlook and Chart Setups:

As depicted here, the single currency pair has bounced off ahead of the1.4420/30 levels as expected earlier. The possibility still remains that of a dip towards 1.44 before rallying. It is recommended to hold long positions taken earlier and also look to add further on dips. Intermediary resistance is at 1.48, followed by 1.5; while support begins from 1.42 and extends through 1.4. We shall be focusing on 1.49 levels to build short positions in the long run. This region is convergence of a fibonacci 0.618 retracement level of the entire fall from 1.54 to 1.4; and extension of the upswing between 1.4070 and 1.4500. A final rally could be expected to sub 1.49 levels, before a major reversal.

Trading recommendations:

Remain long, stop is at 1.43, buy further at 1.44, target is at 1.49.

Good luck!

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For detail explanation and best discovery on market trends you may visit via GBPCHF eyeing a rally. The 1.44 levels remain best buy . Thanks for your support on GBPCHF eyeing a rally. The 1.44 levels remain best buy