Technical analysis of GBP/CHF for January 02, 2015


Technical outlook and chart setups:


The GBP/CHF pair has hit the first expected extension at 1.5520 levels before pulling back today. Please note that prices are testing a support trend line and 1.5400/10 is also the resistance turned support region. A bullish bounce here would be encouraging for bulls and the next price target would be 1.5620 levels as depicted here. It is recommended to remain long for now risk remains at 1.5300. Immediate support is seen at 1.5320 levels, followed by 1.5250, 1.5100 and lower while resistance is at 1.5520 (interim) respectively. Bulls are expected to bounce back at the trend line support, only a break below could delay matters further.


Trading recommendations:


Remain long for now, stop at 1.5300, target is open.


Good luck!




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

Daily analysis of silver for January 02, 2015

SILVER_2-1.png


Overview


The H4 chart demonstrates today that silver still cannot break the support level of 15.50 and is currently trading above it and below the resistance level of 16.00, so we should wait for the mid-day closing. If the metal manages to close 4H below it, there might be a good opportunity to sell until it reaches the support level of 15.20 after closing 4H below. After that we should wait for breaking out this support level for the bearish move to continue . In case silver is able to break the support levels of 15.20 and closes 4H below them, we will get bearish strength which will provide new sell signals and enable the support level of 15.00 as a target level.


Resistance and support levels: R3 (16.75), R2 (16.50), R1 (16.00), S1 (15.50), S2 (15.20), S3 (15.00).


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

Technical analysis of silver for January 02, 2015.


Technical outlook and chart setups:


Silver re-tests its support region around $15.50/80 levels as depicted on the daily chart view here. Please note that the resistance turned support trend line and fibonacci 0.618 support is also being tested around the same levels. It is recommended to remain long and also look to add further long positions on a bullish bounce here. Immediate support is seen at $15.50, followed by $14.50 and lower while resistance is seen at $16.50 (interim), followed by $17.25/50, $17.80/18.00 and higher respectively. Bulls are expected to regain control around current price levels.


Trading recommendations:


Remain long, stop at $14.25, target is open.


Good luck!




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

Technical analysis of gold for January 02, 2015


Technical outlook and chart setups:


Gold has again dropped into the support region of $1,170.00 as seen on the daily chart depicted here. Please note that a counter trend line (support) is being tested at the moment. Also note that a fibonacci convergence is seen around $1,166.00/70.00 price levels. A bullish bounce here is expected, and should be extremely encouraging for bulls. Immediate support is seen around $1,166.00 (fibonacci), followed by $1,143.00, $1,130.00 and lower, while resistance is seen at $1,210.00(interim), followed by $1,235.00, $1,255.00 and higher up respectively. It is still recommended to hold long positions and watch for a reaction at the trend line test.


Trading recommendations:


Remain long, stop below $1,250, target is open.


Good luck!




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