EUR/NZD analysis for July 14, 2014 Trend News

Overview:

Since our previous analysis, the EUR/NZD pair has been trading sideways. We are facing a quiet day and low activity on this pair. I have placed Fibonacci expansion levels to find the second down station. I got the second down station around the level of 1.5420 (currently on the test). Be careful when buying and watch for potential selling opportunities. The third major down station (short-term) is still at the price of 1.5335 (Fibonacci expansion 161.8%). According to the 1H timeframe, we can observe buying climax and bearish reaction in higher volume, which is a sign that buying at this stage looks risky.

Daily pivot Fibonacci points:

Resistance levels:

R1: 1.5450

R2: 1.5461

R3: 1.5477

Support levels:

S1: 1.5417

S2: 1.5406

S3: 1.5389

Trading recommendation: Be careful when buying the EUR/NZD pair and watch for selling opportunities after retracement.

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Gold analysis for July 14, 2014 Trend News

Overview:

Since our last analysis, gold has been trading downwards. The price tested the level of 1,315.32 on high volume according to the 4H timeframe. According to the daily timeframe, we can observe weak demand (friday bar), which caused the price to start downward movement. I have placed Fibonacci expansion levels to find a major resistance level. Besides, I got Fiboancci expansion 61.8% at the price of 1,368.00. We are now in a bearish corrective phase, so be careful with buying. The support level is the level around the price of 1,305.00 (Fibonacci retracement 38.2%). According to the 4H timeframe, we can observe strong supply in the volume above average.

Daily pivot Fibonacci points:

Resistance levels:

R1: 1,340.46

R2: 1,340.80

R3: 1,341.33

Support levels:

S1: 1,339.40

S2: 1,339.06

S3: 1,338.53

Trading recommendation: Be careful with buying Gold since it is in a bearish corrective phase.

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Technical Analysis of GBP/USD for July 14, 2014 Trend News

The cable is trading below the hourly moving averages. The pair has resistance at the 1.7126 and 1.7132 levels. For a positional view, the cable has a strong resistance zone between 1.7167-1.7180. We recommend to safe buy only above the 1.7180 levels for an upside target at the 1.7330 levels. The cable has strong support at 1.70 levels. It will turn negative in the short run. If the pair hits the 1.70 level, it can fall up to the 1.6840 and 1.6670 levels.

For a weekly perspective, the pair has the nearest support between the 1.7080-1.7060 levels. We recommend to sell below 1.7060 for a downside target at the 1.70, 1.6950, and 1.6930 levels.

Positional -

Sell below 1.7060

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Medium term forecast of EUR/CHF for July- December 2014 Trend News

EUR/CHF

Medium term view-

The pair has been in a down trend from the 1.2649 levels. The pair has a strong support level at 1.21 and 1.1999. It has strong resistance levels at 1.2237 (20-M Sma) and 1.2342 (50-M Sma). The pair hit the 50-M Sma in September 2008 and is trading below that for six years. Until the pair close above 1.2342 levels, it will drift to lower levels again. The trading pattern is framed between the 1.1999-1.2342 levels.

The pair has a minor support at 1.2133 (July 01, low). This pair is a good example of the bearish view. It is trading below the popular moving averages in all possible time frames (monthly, weekly, and daily). It hit the ascending triangle as well. If it hits 1.2133, it can drift up to the previous low at the 1.2105 and 1.2029 levels. Until the pair trades above 1.2393, selling on the rise is the best strategy for the rest of the year.

On the upside, it has resistance at 1.2165, above this at the 1.2184 and 1.2218 levels.

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#USDX Technical analysis for July 14, 2014 Trend News

The Dollar index has broken above the short-term support but did not continue higher as it was expected. This is a weakness sign or that it is not the right time for bulls yet. The good thing for bulls though is the fact that price is above the Ichimoku cloud resistance.

Short-term resistance is found at 80.25. Short-term support is found at 80.05 and 79.95. Breaking below 79.95 will put the 79.75 lows to the test. This is something bulls do not want. Breaking above 80.25 will most probably push the index towards 80.35-80.40.

The daily chart remains supported. However, there is still something inside the Ichimoku cloud that tells me the trend is mainly neutral. The trend will change to bullish if we break above 80.40, whereas it will turn to bearish if we break below 79.75. There is no clear buy or sell signal as the price is moving mainly sideways. I prefer to wait for a strong signal before taking action. However, longer-term view remains in favor of the bulls.

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Technical Analysis of Gold for July 14, 2014 Trend News

GOLD

Gold supported by Protugal's central bank concerns moved to $1,344.70. Today, in Asia's session, the metal holds above the $1,334.60& 61.8 fib levels made a low at the $1,335.90 levels. The weekly Stochastics is indicating an overbought sign. On the weekly basis, the support levels existed at the $1,334.60 and $1,330.70 level. Until the metal holds above the $1,330 level, we can expect another up move up to the $1,360 levels.

In the daily chart, the RSI is indicating an overbought sign. Any unexpected move upwards will sustain. For the positional purpose, we recommend to sell only below $1,330 for a downside target at $1,326, $1,324 and $1,318, and $1,310 levels. We can see a strong upward move above $1,342.10 for a new target at $1,357.80 levels.

For an intraday, basis the metal is holding above 35-hr Dema of $1,335.50 breaking below it. The support levels existed at $1,333.40 (12-hr Low) $1,331 (21-Hr Sma) and $1,326 (34-hr Sma). Safe traders can sell below the $1,326 target at the $1,324, $1,323, and $1,318 levels. The hourly RSI is giving an negative sign.

Risky traders can sell below $1,331 levels.

Safe traders can sell below $1,326 levels.

Safe traders buy only above $1,342.10 levels.

Risky traders can buy above $1,340 levels.

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Monthly forecast and an intraday recommendation on EUR/USD for July 14-18, 2014 Trend News

EUR/USD

Traders will keep an eye on today's economic data about the Euro zone industrial production and the speech of Mario Draghi, the ECB president. The pair is facing strong resistance at 50 WSma at 1.3620. In Asia's session the pair is trading at 1.3599.

Monthly forecast -

The trading pattern is framed between 1.3575-1.37 for the week July 14-18. We can see the extension of the trading range. We expect the pair to hit the downside trading range at 1.3575, looking at the downside target at the 1.3215 levels. Until the pair trades below the 1.37 (monthly resistance), we recommend to sell on a rally with sl 1.3720.

On the downside, it has support at 1.3574 (weekly support), below this 1.35 (swing low), 1.3477, and 1.3420 levels. We can see heavy selling pressure below 1.3420 (200 WEma) up to 1.33 and 1.3215.

Levels to watch 1.3575 < 1.35 < 1.3477 < 1.3460< 1.3420 < 1.33 < 1.3215

For an intraday basis, the pair is trading below the hourly moving averages. The pair made an intraday high at 1.3608, rejected at 34 hr Sma and pushed down. On the down side, it has minor support at 1.3588 and major at 1.3575 levels. We recommend to sell again below 1.3575 for an open target at 1.35 and 1.3452 levels. Earlier, we recommend to sell at 1.3649 levels.

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Technical analysis of USD/CAD for July 14, 2014 Trend News

General overview for 14/07/2014 09:20 CET

The last corrective wave to the upside labeled as wave Y brown is developing as anticipated. There are two possible target levels for wave Y brown termination. The first level is 38% Fibonacci retracement of the whole wave 1 and it is at the level of 1.0754. The second target zone is at the level of 1.0793 which is 50% Fibonacci retracement. Please, notice that the momentum indicator starts to diverge from the price and this is typical indication for a possible top in this pair. Any breakout below intraday support at the level of 1.0724 confirms the bearish case.

Support/Resistance:

1.0793 - 50%Fibo

1.0786 - WR2

1.0754 - 38%Fibo

1.0724 - Intraday Support

1.0708 - Weekly Pivot

1.0695 - Technical Support

1.0680 - WS1

1.0602 - WS2

Trading recommendations:

Daytraders and swingtraders might consider to open short positions from the level of 1.0754 (aggressive entry) and 1.0793 (classic entry) with SL above the level of 1.0803 and TP open for now on.

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Elliott wave analysis of EUR/NZD for July 14, 2014 Trend News

Today's support and resistance levels:

R3: 1.5501

S2: 1.5489

S1: 1.5455

Current spot: 1.5444

S1: 1.5411

S2: 1.5384

S3: 1.5345

Technical summary:

We are still looking for evidence that a bottom has been reached. In early trading today, we saw a slightly different low at 1.5398. We still need a break above 1.5501 to give us the first good indication of a firm bottom being in place. A break above 1.5501 will call for a continuation higher to important resistance at 1.5706. It confirms above here that a long-term bottom is in place. However, as long as minor resistance at 1.5501 is able to protect the upside, we will have to respect the possibility of a move even slightly lower than 1.5398, but we still think the potential downside is limited.

Trading Recommendation:

We are long in EUR from 1.5425 with stop placed at 1.5385. If you are not long in EUR yet, then buy a break above 1.5455 with stop placed at 1.5385.

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Elliott wave analysis of EUR/JPY for July 14, 2014 Trend News

Today's support and resistance levels:

R3: 138.76

R2: 138.49

R1: 138.32

Current spot: 137.93

S1: 137.82

S2: 137.67

S3: 137.50

Technical summary:

The correction has been a little stronger than we initially expected. Therefore, we should see the correction from 137.50 move a little higher to 138.32 to kiss the broken former support-line, which now acts as resistance, before the next decline to 137.50 and lower towards 136.22 is expected.

In the longer term, we are looking for an equal target at 134.34, where wave C will be equal in length to wave A. However, we would not be surprised to see an even deeper decline. The big question will be if we need a detour first? Moreover, when will we get close to this target?

Trading Receommendation:

We are short in EUR from 138.95 with stop place at 138.76. If you are not short in EUR yet, then sell near 138.32 or upon a break below 137.82 with the same stop at 138.76.

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Technical analysis of EUR/JPY for July 14, 2014 Trend News

General overview for 14/07/2014 08:50 CET

If the top at the level of 139.30 is at the end of a completed correction in wave 2 black, it means the bearish impulsive wave progression has not been finished yet and the market is now in the corrective cycle wave 4 purple. That means as long as the level of 138.42 is not broken, the chances for one more wave to the downside are high. The first confirmation comes with the small, black intraday trendline breakout and then the level of intraday support at the level of 137.49 violation.The technical targets are on the lower extension of the bearish zone, at the levels of 137.17 and 136.67.

Any breakout above the level of 138.42 invalidates the impulsive count.

Support/Resistance:

139.31 - WR2

138.49 - WR1

138.42 - Bearish Impulsive Count Invalidation Line

138.10 - Intraday Resistance

138.00 - Weekly Pivot

137.49 - Intraday Support

137.17 - WS1

136.67 - WS2

Trading recommendations:

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Technical analysis of EUR/USD for July 14, 2014 Trend News

When the European market opens, some economic news will be released such as Industrial Production m/m.The US will not release any economic data today. So, amid the reports, EUR/USD will move with low volatility during this day.

TODAY's TECHNICAL LEVELS:

Breakout BUY Level: 1.3668.

Strong Resistance:1.3660.

Original Resistance: 1.3647.

Inner Sell Area: 1.3634.

Target Inner Area: 1.3602.

Inner Buy Area: 1.3570.

Original Support: 1.3557.

Strong Support: 1.3544.

Breakout SELL Level: 1.3536. DESCRIPTION:

Today, EUR/USD has support at 1.3557 and resistance at 1.3647. The rate is accompanied by strong support at 1.3544 and by 1.3660 as strong resistance.

If EUR/USD breaks out and closes below the 1.3536 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3668 level, it will mean high bullish strength. Alternatively, for advanced traders, you can trade in a way to open a BUY position at the level of 1.3570 and at 1.3634, a SELL position. In this case both targets should be placed at the level of 1.3602. Disclaimer:
Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts. The material has been provided by InstaForex Company - www.instaforex.com



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Technical analysis of USD/JPY for July 14, 2014 Trend News

In Asia, Japan will release the Revised Industrial Production m/m. The US will not release any economic data today. So, there is a big probability the USD/JPY pair will move with low volatility during the day.

TODAY's TECHNICAL LEVELS:

Resistance. 3: 101.89.

Resistance. 2: 101.69.

Resistance. 1: 101.49.

Support. 1: 101.24.

Support. 2: 101.04.

Support. 3: 100.84. DESCRIPTION:

Please, pay attention to the levels of support 3 (100.84) and resistance 3 (101.89). Normally, when a level is touched, USD/JPY will rebound from the previous minimum by 10 to 20 pips, but if the levels are broken through by over 50 pips, then it will be a sign that these currencies have found trends today.

Disclaimer:
Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts. The material has been provided by InstaForex Company - www.instaforex.com



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Technical analysis of Silver for July 14, 2014 Trend News

Technical outlook and chart setups:

1. Silver is trading at the $21.40 levels for now. It is expected to correct itself at least towards $20.00 and $19.75 levels before rallying further up. Recommendations are to remain flat for now and look to go long around the fibonacci support level as depicted here.

2. Support is seen around $19.75 (fibonacci), followed by $19.00, $18.60 and lower, while resistance is seen at $21.70, followed by $22.30 and higher up respectively.

3. The structure indicates that Silver is a clear buy on dips from here on.

Trading recommendations:

Remain flat for now. Consider to buy lower.

Good luck!

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Technical analysis of Gold for July 14, 2014 Trend News

Technical outlook and chart setups:

1. Gold is stalling out around the $1,340.00 levels for now as seen here. A push higher towards $1,356.00 levels is still a possibility, though. It is recommended to buy on dips from here on. The expected levels of correction are between $1,280.00/90.00.

2. Support is seen at $1,280.00 (fibonacci), followed by $1,260.00, $1,240.00/30.00 and lower while resistance is seen at $1,350.00/60, followed by $1,388.00 and higher respectively.

3. The structure indicates that Gold is buy on dips from here on. Interest is around $1,280.00/90.00 levels.

Trading recommendations:

Look to buy around $1,280.00/90.00 levels.

Good luck!

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Technical analysis of EUR/JPY for July 14, 2014 Trend News

Technical outlook and chart setups:

1. The EUR/JPY pair is seen to be moving sideways for now. It is expected to print at least one low below 137.50 levels, before a meaningful retracement could occur. Recommendations are to remain short for now and take some profits.

2. Support is seen at 137.50 (interim), followed by 136.00 and lower while resistance is seen at 140.00, followed by 141.00, 142.50/143.50 and higher respectively.

3. The structure indicates that EUR/JPY could still drift lower at least for now; before a meaningful pull back occurs.

Trading recommendations:

Remain short, move risk to break even, exit below 137.50.

Good luck!

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Daily analysis of USDX for July 14, 2014 Trend News

Daily chart: The USDX has made a breakout again at the resistance level of 80.11, where the USDX is trying to build a solid bullish road to consolidate above the resistance level of 80.62. If the USDX does make a breakout at that level, the next target in the long term would be the level of 81.50. The MACD indicator is in the positive territory.

H4 chart: The USDX is finding resistance at the 200-day moving average, which probably trigger a pullback and fall to the support level of 80.09, because the U.S. dollar has been very weak in recent days. However, if the USDX does make a breakout at the level of 80.24, it's expected to rise to the resistance level of 80.34. The MACD indicator is in the positive territory.

H1 chart: The USDX is consolidating above the 200 SMA and the support level of 80.15. However, the bearish outlook still remains alive because the USDX has not touched the resistance level of 80.35. If the USDX does make a breakout at the support level of 80.15, it is expected to fall to the level of 79.88.

Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the USD Index breaks with a bearish candlestick; the support level is at 80.15, take profit is at 79.88, and stop loss is at 80.42.

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Daily analysis of GBP/USD for July 14, 2014 Trend News

Daily chart: The GBP/USD pair continues to fall below the resistance level of 1.7169. So, it is likely to be the next support level of 1.7100. If GBP/USD manages to make a breakout at that level, it would be expected to fall to the support level of 1.7000, which could slow down the current road bullish on this pair. The MACD indicator is in the negative territory.

H4 chart: The GBP/USD pair is moving in sideways below the resistance level of 1.7179. So, it is likely to fall to the support level of 1.7062. If the GBP/USD pair manages to make a breakout at that level, it would be expected to fall to where the 200 SMA is set. MACD indicator is in the neutral territory.

H1 chart: The GBP/USD pair has made a rebound at the support level of 1.7100. Again, this pair is trying to consolidate above the 200 SMA. If successful, it is expected to rise to the resistance level of 1.7150, where probably the GBP/USD pair will start forming a bullish pattern. The MACD indicator is in the positive territory.

Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is at 1.7150, take profit is at 1.7200, and stop loss is at 1.7100.

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Daily analysis of major pairs for July 14, 2014 Trend News

EUR/USD: The bias on this market is bearish and the price is expected to go further downwards. On Friday, July 11, 2014, the price closed at 1.3606: it would easily test the support line at 1.3600 this week. This week may see the price going below that support line.

USD/CHF: Unless one is a scalper or a day trader, this market is not currently attractive. It seems the bulls and the bears have equal strength (no-one is stronger than the other). The market would need to break either above the resistance level at 0.8950 or below the support level at 0.8900. After this, one would know the direction to take. If the resistance level is broken, one would seek long trades. Reverse the logic for a scenario in which the support level is breached.

GBP/USD: This market is currently a bull market, in spite of the consolidation on it. The consolidation is simply a pause in the market, after which the bullish momentum would resume. The price is expected to test the distribution territory at 1.7200 this week.

USD/JPY: The USD/JPY pair is still in a bearish mode, although the price is making some rally attempts. The rally is expected at the supply level of 101.50. This is an area from which the price may go further downwards. When this happens, the price may touch the demand level at 101.00.

EUR/JPY: The Bearish Confirmation Pattern in the chart adds to the possibility that this cross would be going further downwards. The demand zone at 137.50 was tested and it could be tested again. The supply zone at 138.00 could also contain any possible rally along the way.

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