Silver Forecast

Silver Forecast: Limited downtrend on the way

Silver 8th April, 2015

Silver, the Gold’s little brother had a long downtrend from (49.85 to 14.20) just like the gold from the second half of year 2011, lasted years: 2012, 2013. Year 2014 was a supportive year for the silver too with few dips to stay above the 14.20 level during the first quarter of 2015.

Currently, the bullish momentum is very weak and I can not see any real reason for the silver to go up. Metals tend to be cheaper in front of a strong dollar so, sell silver with confidence that it will test at least the 15 level since it is the closest support in this range. Notice that, I can see that even this support (around 15 level) is weak enough to be broken. We will need to wait until we reach this point before being able to say whether there will be a reversal or a continuity for the previous downtrend

Sell silver in any place around 16.80-16.50 and hold on till it hits 15 level again, I am expecting this to be slowly move

The Silver (XAG/USD) has the following major resistance and support levels:

  • RESISTANCE: 18.60
  • SUPPORT: 15

Breaking these levels in any direction will take us higher or lower.

My Daily BUY/SELL advice (30 pips stop loss applied):

  • Sell: at 16.75 – Take profit 16 (75 pips profits)
  • Sell: at 16 – Take profit 15.5 (50 pips profits)

This review is valid during trading week(s): 8th-14th April, 2015

USD/JPY Forecast

USD/JPY Forecast: March Nonfarm Payroll in Vision

usdjyp 31st, march 2015

USD/JPY fell after testing resistance at 122 level under heavy selling pressure, to find a decent support around 118.31. This move was not fast but, moving back from 118.31 to 120 again was piece of cake for the bulls. I’ve inner voice telling me that this easy uptrend is not the end of this newly-born bullish wave. However, we have 2 important resistance levels to watch at 120.45 and 122.02. If we broke those levels, you should buy and hold for a while till the pair gives a test to 123-124 levels. My previous expectations are the same however, take care from the quick falls, they are extremely dangerous in this area.

Non-farm payroll expectations are high. On 3rd April, 2015, everyone is betting that it will be one of the highest numbers in the NFP history. Personally, I am not that optimistic so, I am expecting NFP to come out around: 290K-300K which is not far away from the last month numbers and it is very supportive for a stronger dollar too.

The USD/JPY has the following major resistance and support levels:

  • RESISTANCE: 124
  • SUPPORT: 118.20

Breaking these levels in any direction will take us higher or lower.

My Daily BUY/SELL advice (50 pips stop loss applied):

  • Sell: at 122.8 – Take profit 122 (80 pips profits)
  • Buy: at 119.80 – Take Profit 121 (120 pips profits)
  • Buy: at 120.1 – Take Profit 121 (90 pips profits)

This review is valid during trading week(s): 1st-10th April, 2015

GOLD forecast: Selling pressure & bulls are waiting to hunt!

GOLD 30th March 2015

Gold (currently at: 1183 level) after taking a direct run from 1128 to 1220 during the second half of March, 2015 as I previously expected. The 1220 level was a strong resistance to stop this run from moving up to the next level.

I still prefer the long positions for the gold, wait for the gold to fall sharply this time, with the nonfarm payroll next week, you should not buy GOLD early without a clear support.

The GOLD (XAU/USD) has the following major resistance and support levels:

  • RESISTANCE: 1220
  • SUPPORT: 1076

Breaking these levels in any direction will take us higher or lower.

My Daily BUY/SELL advice (50 pips stop loss applied):

  • Sell: at 1180 – Take profit 1100 (80 pips profits)
  • Buy: at 1080 – Take Profit 1180 (100 pips profits)
  • Buy: at 1010 – Take Profit 1160 (150 pips profits)

This review is valid during trading week(s): 30th, March-3rd April, 2015