GBP/USD Intraday Technical Analysis and Trading Recommendations for August...
USD/CHF Wave Analysis for August 10,2012
News: 2012-08-10 09:35:15 UTC+00 10 months, 1 week, 2 days, 6 hours, 12 min. ago
Silver Remains Locked Under 28.30 Levels.


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Technical Outlook and Chart Setups:
Patience is being tested here to the highest level. Any attempt towards 28.30 level is met with a strong selloff on the counter. And each time the counter fails to clear, the probability of a bullish breakout is increasing. This happens because previous lows/supports are not being broken. The rising wedge structure remains very much intact yet until 26.50-27.00 levels, we are recommending buy on dips and hold on to earlier long positions taken. This consolidation pattern assures a powerful breakout that may it be at any side.
Trading Recommendations:
Hold on to long positions taken earlier, stop 26.50, target 1650-1670-1700.

Good Luck!

Performed by
Analytical expert: Harsh Japee
InstaForex Group © 2007-2013
 Published: 2012-08-10 09:35:15 UTC+00 10 months, 1 week, 2 days, 6 hours, 12 min. ago

 
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