For Traders

Analytical Reviews

Technical analysis

22.11.201110:32 Forex Analysis & Reviews: EUR/USD Intraday Important Level For November 22nd / 2011

Long-term review

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Technical outlook and chart setups:

1. Silver has also been trading within a range between $19.30/40 and $19.70/80 for couple of days. Currently trading at $19.60/65 levels, the metal is expected to rally further high. Minimum implications are $20.40/50 levels from here, which would confirm that bulls are back again. Recommendations are to remain long for now, risk remains just below $19.00 levels.

2. Support is seen at $19.00 followed by $18.75 and lower, while resistance is at $20.40 followed by $21.70/80, $22.30 and higher up, respectively.

3. The structure indicates that Silver remains in control of bulls till prices stay above 19.00 levels. A bullish trend reversal is still possible if the metal stays above $19.00 levels.

Trading recommendations:

Remain long for now, stop at $19.00, target is open.

Good luck!

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.