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Silver technical levels and trading recommendations for October 11, 2013
http://forex-images.instaforex.com/u...ver__11-10.pngOverview
According to our yesterday's expections, the price’s close below the Support level of 21.50 will give new opportunities for sell signals. Currently, the metal has already managed to close below the Support level to trade below and open the way towards 21.70 as the first target, then the metal must test the Support level of 21.70 to get more bearish move till reaching 20.90 as the second target. On the other hand, the metal's rebound from the Support level of 21.20 cancels bearish scenario.
Resistance and support levels:
R3 (23.40),
R2 (22.70),
R1 (22.30),
S1 (22.00),
S2 (21.50),
S3(21.20).
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Silver technical levels and trading recommendations for October 18, 2013
http://forex-images.instaforex.com/u...lver_18-10.png
Overview
In today's H4 chart, the metal is still trading below the resistance level of 22.00 keeping its move above the upward trendline, and currently silver is testing the resistance level to continue its bullish movement. So we should wait for closing above this resistance area to create a new bearish opportunities. In that case the metal might open its way towards the resistance level of 22.30, then we should wait for breaking this resistance level to continue the bullish move, so we can consider our first target few pips below this resistance level, after that we should wait till reaching the resistance level of 22.50 as the second target.
Resistance and support levels: R3 (22.50), R2 (22.30), R1 (22.00), S1 (21.50), S2 (21.20), S3(20.90).
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Silver rallies above the 22.00 levels. Immediate resistance is at 22.50
http://forex-images.instaforex.com/u...sd22102013.jpg
Technical outlook and chart setups:
The metal rallied above the 22.00 levels yesterday, but it would be facing immediate resistance at the 22.50 levels soon. It is recommended to buy on dips from here on; the area of interest would be between 21.00 and 21.50. Immediate resistance is at 22.50, followed by 23.50, 24.00 and 25.00 on the higher side; while support is just below 21.00, followed by 19.00 and lower respectively. As seen here, the overall rally from 18.00 to 25.00 looks to have retraced to 0.618 fibonacci support; and prices are poised to rally further towards fresh highs of 28.00 and higher from here on. Watch out for dips towards the 21.50/21.00 levels to initiate long positions.
Trading recommendations:
Buy on dips from here on. Set stop at 20.00, target is open.
More analysis - at instaforex.com
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Silver rallies above past resistance at 22.50. Buy on dips now.
http://forex-images.instaforex.com/u...sd23102013.jpg
Technical outlook and chart setups:
The metal has rallied above the past initial resistance at the 22.50 levels as depicted here. It is recommended to exit short positions if any and change the trading strategy to buying on dips from here on. Fibonacci retracement levels are pointing towards the 21.30/50 levels as best buy for the next projected rally towards 24.00 and higher. Initial resistance is at 23.40/50, followed by 24.00 and higher up; while intermediary support is at 20.50, followed by 19.00 and 18.00 respectively. Please also note that the falling resistance line, which would act as support now, is also passing across the same region around 21.30/50 for the next potential rally.
Trading recommendations:
Buy on dips towards 21.30/50.
More analysis - at instaforex.com
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EURJPY retracement should continue further. 1.32 in focus
http://forex-images.instaforex.com/u...py28102013.jpg
Technical outlook and chart setups:
The currency pair seems to be poised to retrace further lower towards the 1.32 levels at least, as depicted here. Please note that the rising trendline is also passing through the same levels at the moment. It is recommended to initiate short positions (only 50%) with the risk at the 136.00 levels. Support levels are spread through 131.00-129.00, and 128.00; while resistance is fixed at the 135.50 levels, respectively. A bullish bounce at 132.00 would be favourable for building long positions again. In the short term, expect prices to retrace lower at least.
Trading recommendations:
Initiate short positions in small capacity, stop is at 136.00 target is at132.00
More analysis - at instaforex.com
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Gold begins retracement. 1,280-1,300 is the best buy
http://forex-images.instaforex.com/u...sd30102013.jpg
Technical outlook and chart setups:
The metal looks to have begun retracement lower towards the1,280-1,300 area, as seen in the 4H chart. It is recommended to initiate long positions around the fibonacci 0.618 support area at 1,280/90. Though it remains possible that prices may dip further to the 1,275.00 levels before rallying further up. The 1,280/90 area is the best buy due to confluences of Fibonacci retracement levels, backside of the trend line that is support now, and a potential right shoulder of a possible inverted head-and-shoulder reversal here. Only a break of 1,250.00 would be a worry for the bulls now.
Trading recommendations:
Look to buy lower from here.
More analysis - at instaforex.com
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Silver retracement begins. The 21.20/50 levels in sight
http://forex-images.instaforex.com/u...sd31102013.jpg
Technical outlook and chart setups:
The metal structure is unchanged from what has been discussed recently. The retracement began yesterday as it had been expected few sessions ago, and expectations are towards the 21.20/50 levels at least. Support levels are spread through the 20.50 levels, followed by 19.00 and sub 18.00 levels, while resistance levels are spread through the 23.50 levels, followed by 24.50 and higher, respectively. Till the time 20.50 is intact, the trend has possibly reversed to long-term and higher levels at 25.00 can be expected soon after retracement is finished.
Trading recommendations:
Look to buy lower.
More analysis - at instaforex.com
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GBPCHF bounces off producing Morning Star at 1.44 levels
http://forex-images.instaforex.com/u...hf04112013.jpg
Technical outlook and chart setups:
The currency pair has bounced off the smartly producing a morning star around the vicinity of the 1.4380/1.44 levels as expected earlier. Also, the fibonacci 0.618 retracement level is seen passing through the same area. It is recommended to hold long positions taken earlier for an expected extension at the 1.49 levels from here on. Temporary resistance is being met at current levels and short-term setbacks are possible, but they should be in the form of retracement only. Intermediary support begins from the 1.4400 levels, followed by 1.42 and 1.4075; while resistance begins from the 1.4800 levels, followed by 1.5 respectively. Look to buy on dips till prices remain above 1.4350.
Trading recommendations:
Remain long, set stop at 1.43, target is at 1.49.
More analysis - at instaforex.com
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EUR/USD intraday technical levels for November 5, 2013
http://forex-images.instaforex.com/u..._5-11-2013.JPG
Yesterday, after the release of the Italian Manufacturing PMI below the market expectations, the EUR/USD got under pressure to go down. For today, we wait for the US ISM Manufacturing release. All the market participants are now waiting for next Friday to see the US Non Farm Payrolls and the US Unemployment Rate data.
TODAY's TECHNICAL LEVELS:
Breakout BUY level: 1.3586.
Strong Resistance:1.3578.
Original Resistance: 1.3565.
Inner Sell Area: 1.3552.
Target Inner Area: 1.3520.
Inner Buy Area: 1.3488.
Original Support: 1.3475.
Strong Support: 1.3462
Breakout SELL level: 1.3454.
DESCRIPTION:
Today EUR/USD has support and resistance at 1.3475 and 1.3565. The rate is accompanied by strong support at 1.3462 and by 1.3578 as strong resistance. If EUR/USD breaks out and closes below 1.3454 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above 1.3586 level, then it will denote high bullish strength. Alternatively, for advance traders, you can trade in a way to open a BUY position at the level of 1.3488 and at 1.3552, a SELL position. In this case both targets should be located at the level of 1.3520.
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EURJPY testing the support line now. 131.00 is critical for bulls
http://forex-images.instaforex.com/u...py06112013.jpg
Technical outlook and chart setups: The currency pair is found to be testing the immediate trend line support for now. It is still recommended to hold long positions initiated earlier and also plan to buy more. Immediate support is at 131.00, followed by 130.00/128.00 and 125.00; while resistance remains fixed at the 135.00 levels respectively. The bullish trend shall prevail till the time prices remain above the 131.00 levels. On the other hand, if the support line breaks and prices test the 131.00 levels in near future, subsequent rallies must be sold as a change in the trade strategy.
Trading recommendations:
Hold long positions, stop is at 131.00.
More analysis - at instaforex.com