NZD/USD: Intraday Technical Analysis for July 18, 2012
Gold Vulnerable Below 1600.00
News: 2012-07-18 08:19:52 UTC+00 10 months, 5 days, 21 hour, 45 min. ago
Silver Remains Vulnerable Below 28.00


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Technical Outlook and Chart Setups:
As it is depicted above, the structure remains quite similar from yesterday. The longer it remains confided within the cone structure, the more powerful will be a breakout on either side. Similar to gold, silver is also consolidating within the downswing, hence a slight bias would be towards a possible bearish breakdown n the sessions to come. Till then, playing support (26.40/50) resistance (27.80/28.00) game is the best trade plan.
Trading Recommendations:
For now buy the support (26.40/50) and sell resistance (27.50/28.00). Later trade towards a breakout.

Good Luck!

Performed by
Analytical expert: Harsh Japee
InstaForex Group © 2007-2013
 Published: 2012-07-18 08:19:52 UTC+00 10 months, 5 days, 21 hour, 45 min. ago

 
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