Technical analysis of Silver for January 30, 2014. Trend News

Technical outlook and chart setups:

1. The metal has drifted lower towards $19.40, as expected. It is still expected to test sub $19.00 levels before rallying further. It is recommended to initiate 50% long positions now and remaining around $19.00. Risk remains at $18.50.

2. Immediate resistance is at $20.50 (recent swing highs), followed by $21.00 and $22.00, while supports are spread through $19.00 and $18.75 respectively.

3. The structure reveals that $18.75 could be a meaningful base for the next rally towards $22.00 and $25.00. Trading strategy could be buying on dips from here on.

Trading recommendations:

50% long now and remaining around $19.00, stop at $18.50, target open.

Good luck!

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Technical analysis for Gold for January 30, 2014 Trend News

Technical outlook and chart setups:

1. The yellow metal has retraced up to $1,270.00, which is fibonacci 0.618 resistance of recent fall from $1,279.00 to $1,248.00. It is recommended to hold on to short positions and also look to add further, risk remains at $1,286.50 for now.

2. Immediate resistance is $1,290.00/$1,300.00, while support is at $1,248.00 (intermediary), followed by $1,230.00, $1,220.00/10.00 and lower respectively.

3. The structure reveals that a pullback towards $1,215.00/20.00 levels could be due. Please note that $1,20.00/15.00 is also the 0.618 fibonacci retracement level of the entire rally from $1,182.00 through $1,279.00. On the other hand, a push through recent highs would target $1,290.00/95.00.

Trading recommendations:

Remain short for now, stop at $1,286.50, target at $1,220.00

Good luck!

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Technical analysis for EUR/JPY for January 30, 2014. Trend News

Technical outlook and chart setups:

1. The EUR/JPY is drifting lower for now. Trading below 140.00 levels at the moment, it is recommended to remain flat and initiate short positions on a counter rally towards 143.00/50. The structure remains unchanged for now.

2. Immediate resistance is at 143.00/50, followed by 145.50, while supports are spread through 138.50, followed by 134.00, 131.00 and lower respectively.

3. The entire structure reveals that rallies towards 143.00 levels could be sold. The EUR/JPY pair is poised to drift lower towards passing support trend line as seen here.

Trading recommendations:

Remain flat for now. Looking to sell around 143.00/50.

Good luck!

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Technical analysis of GBP/CHF for January 30, 2014 Trend News

Technical outlook and chart setups:

1. The GBP/CHF pair seems to be carving out a head and shoulder reversal as seen here. Prices have turned low from 1.4900 for now. The backside of trendline is also providing resistance around the same level. It is recommended to hold short positions for now. More positions could be planned at 1.4900.

2. Immediate resistance is at 1.5120/30, while support is at 1.4700 (intermediary), followed by 1.4350, 1.4200 and 1.4000 respectively.

3. The entire structure reveals that 1.5120/30 should hold as a resistance now and prices should continue drifting lower towards 1.4400 and 1.4000 from here on.

Trading recommendations:

Hold on to short positions. Sell rallies through 1.4900, stop at 1.5150, target 1.4

Good luck!

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



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Technical analysis of gold for January 30, 2014 Trend News

The Fed decision was widely expected. Overall signs of improvement in the US economy suggest that Fed officials will stay on track to cut monthly purchases of Treasuries and mortgaged backed securities by USD $5billion each. On Wednesday the Fed trimmed another $10 billion, now it comes to $65 billion inFebruary consisting of $30 billion of mortgage-backed securities and $35billion of Treasuries. Gold showing strong upwards momentum due to emerging markets concerns and India, Turkey and South Africa hiked interest rate which makes traders shift to safe heaven asset.

In the technical front yellow metal is trading above the falling trend line - above 21DEMA and making support at the level $1,248 these are the bull factors. Oscillators gave a sell signal in the daily chart and hourly chart as well these are the bearish factors. We recommend sell on every raise.

Intraday Support- $1,261, $1,256 $1,248

Resistance- $1,270, $1,279

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Fundamental analysis of Crude for January 30, 2014 Trend News

The US Fed is expected to cut its bond purchases by another $10 billion. So starting in February, it will buy $65 billion in bonds per month. Also, there are growing concerns about the impact of slower growth in China that make the US dollar stronger. Estimates from 11 analysts surveyed showed that US oil inventories are projected to have risen by 2.2 million barrels on average in the week ended January 24, 2014. Crude oil inventories rose 6.4 million barrels, thus contributing to decrease in oil prices. Technical front crude is trading above the level $97 which is a bullish factor. Oscillators gave mixed indications resulting in limited downside.

Support- $96, $91.75

Resistance- $97.8, $99.76

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Technical analysis of silver for January 30, 2014 Trend News

Silver has lagged Gold and has been under pressure with the rest of the base metals. 19.334 is a key support, if it holds then it should be ready to move up again. If it breaks, it will be a bearish sign for Silver. So far, its holding above the support. In the daily chart, oscillators gave a positive indications on RSI, stochastic is still likely to give. The falling channel trend line is at 20.45, a close above which would gave a breakout and a further up move, cmp $19.53

Support- 19.650, 19.450

Resistance- 19.840, 19.872 20.35

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