EUR/CAD

On the daily chart the pair found strong support near the 50 DAY M/A (green line) and has rallied 3 days in a row since then. Today’s session should be interesting because the price action is near the 1.4731 resistance line for the third time since December 18. A close above this line, which means a 4 years high, will confirm the next leg up with new target at 1.5184, but if it fails again it will be a devastating fall to the 50 and 100 moving average.

EUR/CAD
Support 1.4500 1.4444 (50 M/A) 1.4239 (100 M/A)
Resistance 1.4709 1.483 1.5184

GBP/JPY

Since November 14th the pair rally more than 10% in 3 month with first 2% correction to this rally last week. On the 4h chart we see a “Flag formation" that should drive the next move today or tomorrow. A breakthrough to the upside will trigger the next leg up with first target at 174.84 and new long term target at 179.63. A break to the down side will send the pair to retest the 170.86 and 169.82 support lines.

GBP/JPY
Support 170.86 169.82 168.3
Resistance 172.71 174.84 179.63

Silver

For more than a month the silver continues trading around the $1 range, and after 30% fall in 2013 this consolidation is a positive sign to the bulls. On the 4h chart any touch on the upper resistance line or lower support line proves to be a reliable signal for reverse price action. On the long term a break of this range will trigger the leg with targets around 21.5 to the upside or new lows at 17.5 to the downside.

Silver
Support 19.3 18.93 17.5
Resistance 20.00 20.35 21.5