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Silver Technical Levels and Trading Recommendations for November 1, 2012

2012-11-01 19:41:38 (читать в оригинале)

   

Overview

 

The H4 chart demonstrates today that silver take an upward move after breaking the Support level 32.40. Presently, silver is trading above the Support level 32.40. If silver continues the upward movement and manages to break the Resistance level 33.00, it will provide a good opportunity to buy above the Resistance level as well as make it possible to reach the Resistance level of 33.30 as the level target. After that we should wait for breaking out of this Resistance level to continue the bullish move. In case silver is able to break the Resistance level of 33.30 and close 4H above, we will get a bullish strength which will provide new buy signals and enable the Resistance level of 33.60 as a level target.
On the other hand, if silver reverses its bullish move and takes a downward move after its rebound from the Resistance level of 32.40, it will be a strong indicator for the bearish move after closing 4H below Support level and enabling Support level of 31.80. In this case we should wait for breaking this Support level to continue the bearish view. Based on the given H4 chart, the technical indicators provide buy signals, but as long as the Resistance level of 32.40 is unbroken, the downward move is still expected and invalidating the upward movement. Therefore, we should wait for more confirmations before making the decision.

 

 

Resistance and Support levels
R3 (33.60) R2 (33.30) R1 (33.00) S1 (32.40) S2 (31.80) S3 (31.50)

 

 

Trading Recommendations
According to the previous analysis, we recommend buying in case of closing 4H above the Resistance level of 32.40 with TP 32.85; SL closing 4H below the Resistance level might be appropriate.

The material has been provided by Instaforex Company - instaforex.com

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NZD/USD: Technical Analysis for November 1, 2012

2012-11-01 16:52:09 (читать в оригинале)

Overview:

The NZD/USD pair is expected to continue the movement from the point of 0.8140. Thus, the kiwi shows the signs of strength, following the breakdown of the highest level 0.8140. This fact can be considered as a good signal for BUY deals above this strong support (0.8140) with the first targets at 0.8223 and 0.8330 (it will serve as a strong resistance level and is considered to be appropriate for take profit orders). It is necessary to mention that this level will coincide with the weekly resistance 2 (0.8332). However, in case of the reverse movement and if the NZD/USD pair fails to break through the resistance level of 0.8332, the market will show a further decline to the level of 0.8190 (it is the weekly pivot point) indicating a bearish mood in order to retest the weekly support 1 at the level of 0.8140.

Weekly Pivot Points:

R3: 0.8421
R2: 0.8332
R1: 0.8279
PP: 0.8190
S1: 0.8137
S2: 0.8048
S3: 0.7995

Range: 0.8330 - 0.8140 = 190 pips.

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

The material has been provided by Instaforex Company - instaforex.com

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Gold Inching Higher. Just Shy Of 1,730.00 Level. Hold On To Long Positions

2012-11-01 16:51:06 (читать в оригинале)

Technical Outlook and Chart Setups:

The bullish structure remains unchanged for now. The yellow metal has successfully pushed through the sloping trendline and just shy of our first measured upside target at 1,730.00 level. 1,715-17 levels should offer support for any intraday dips now. 1,700.00 followed by 1,685/90 levels are strong support levels while 1,730/50/75/95 are lined up resistances. It is recommended to continue buying intraday dips for now.

Trade Recommendations:

Hold long positions taken earlier. Stop at 1,680.00. Target Open.

Good Luck!

The material has been provided by Instaforex Company - instaforex.com

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Silver Remains Strong. Eying 33.30 Level Now

2012-11-01 16:48:48 (читать в оригинале)

Technical Outlook and Chart Setups:

There is absolutely no change in bullish structure. The first measured extension at 32.50 has just been met. As depicted above, bulls are now eying 33.30 level (R1). Buying intraday dips is recommended and it should be the trade mantra in general. 31.50 is intermediary support followed by 30.20; it has held well till now. The dropping resistance line is passing through 33.50 at the moment and a bullish break through it will be one more proof that the metal is heading towards fresh highs.

Trading Recommendations:

Hold on to long positions taken earlier. Buy intraday dips. Stop at 31.00, Target Open.

Good Luck!

The material has been provided by Instaforex Company - instaforex.com

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EurJpy Is Holding For Now. A Push Through 104.00 Levels Required

2012-11-01 16:24:05 (читать в оригинале)

Technical Outlook and Chart Setups:

The single currency pair is holding 103.60/70 levels for now. A push above 104.00 level is required to register fresh highs at 104.75. It is recommended to hold long positions taken earlier. On the flip side, a drop below 102.50 would threaten a break down towards 101.70 level. Prices have bounced from the Fibonacci 0.5 support and more probable direction from here is a push through 104.00 level. Intermediary support is just above 102.00 level while resistance is placed at 104.20 level.

Trading Recommendations:

Hold long positions for now. Stop at break-even. Target at 104.75.

Good Luck!

The material has been provided by Instaforex Company - instaforex.com