Technical analysis of EUR/JPY for July 21, 2014 Trend News

The pair hit the 50 WSma and closed below it. In the weekly chart, the pair broke down the symmetric triangle, with a downside target at 134 levels. In Asia's session, the pair is trading below the 50 WSma, but holding just above the previous week's low. The weekly resistance is placed at 138.05 levels. The trading pattern is framed between 136-138.05 levels. If the pair reaches the 136 levels, it can extend its fall to 134 levels, on the other side, if it breaches above 138.05, it can fly up to 138.40 and 138.80 levels.

Monthly resistance 138.05

Monthly support 136

In the daily chart, the pair closed below the 50 DSma and 200 ESma. The bulls' last hope is at 136.20 (rounded to 136) parallel support. A day close below this leads to another steep fall towards 134, another parallel support level. On the upside, the pair has immediate resistance at 137.75 (200 DEma), 138.06 and 138.65 (50 DSma) levels. But, the daily momentum oscillators are indicating oversold signs.

For an hourly trading perspective, the pair is facing resistance at 137.14 (6hr high) 137.31 (21hr Sma) and 137.62 (34hr Dema). Until the pair trades below 137.62 on an intraday basis, the pair favors to bears.

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Technical analysis of EUR/USD for July 21, 2014 Trend News

When the European market opens, some economic news will be released such as German PPI m/m, German Buba Monthly Report.The US will not release any economic data for today, so amid the reports, EUR/USD will move with low volatility during this day.

TODAY's TECHNICAL LEVELS:

Breakout BUY Level: 1.3596.

Strong Resistance:1.3588.

Original Resistance: 1.3575.

Inner Sell Area: 1.3562.

Target Inner Area: 1.3530.

Inner Buy Area: 1.3498.

Original Support: 1.3485.

Strong Support: 1.3472.

Breakout SELL Level: 1.3464. DESCRIPTION:

Today EUR/USD has support and resistance at 1.3485 and 1.3575. The rate is accompanied by strong support at 1.3472 and by 1.3588 as strong resistance. If EUR/USD breaks out and closes below the 1.3464 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3596 level, then it will denote high bullish strength. Alternatively, for advance traders, you can trade in a way to open a BUY position at the level of 1.3498 and at 1.3562, a SELL position. In this case both targets should be placed at the level of 1.3530. 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 21, 2014 Trend News

In Asia, Japan will not release any economic data because of the Bank Holiday and the US will not release any economic data either. So there is a big probability the USD/JPY will move with low volatility during this day.

TODAY's TECHNICAL LEVELS:

Resistance. 3: 101.80.

Resistance. 2: 101.60.

Resistance. 1: 101.40.

Support. 1: 101.16.

Support. 2: 100.96.

Support. 3: 100.76.

DESCRIPTION:

Please, pay attention to the levels of support 3 (100.76) and resistance 3 (101.80). 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.

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Forecast of Gold for July 21, 2014 Trend News

Gold held the 100 DSma during Friday's session and pulled back a bit. In today's session, the metal is facing resistance at 200 DEma. For the week July 21-25, the trading pattern is framed between $1,291-$1,346. If the metal breaches the upside resistance at $1,346, it can fly up to $1,360, $1,391 and $1,400. On the down side, if the metal hits $1,291, we can see $1,286, $1,286 and $1,260 levels. Until the metal closes above the 50 DSma $1,291, the bulls might take the pair towards higher levels.

For an intraday basis, the metal is facing resistance at $1,312 levels. The metal has support at $1,306.50 and $1,304 levels. On the upside, if the metal breaches $1,312, it can fly up to $1,315, $1,318 and $1,324 levels. To continue its upside move, the bulls will breach $1,322 as soon as they can.

Buyers can use sl $1,304 or sell only below $1,304.

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Forecast of EUR/USD for the week July 21-25, 2014 Trend News

The pair touched the weekly support trend line. In the last week's session the pair hit the 1.3575 level which turns out to be heavy resistance and hit the 1.35 levels as well. But at the end of the day on Friday, it closed above 1.35 levels. This week, the first trading day in Asia's session the pair is trading at 1.3530 levels.

Positive flicks-

The pair is trading above 1.35.

The daily RSI is indicating positive divergence.

Negative flicks-

Trading below the 20 DSma, 50 DSma, 50 WSma, 100DSma, and 200 DEma.

The nearest resistance is at 1.3575.

The pair is supported by buying interest below 1.35 levels. It has the nearest support level at 1.3477, below this, 1.3425 (200 WEma) and 1.34 (50 MSma). The current week's trading pattern is framed between 1.3477-1.3575 levels.

Until the pair trades below 1.3575, the weekly view favors the negative side.

Until the pair trades below 1.37, the short-term trend will move more down side towards 1.3420 and 1.32 levels.

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Daily analysis of GBP/USD for July 21, 2014 Trend News

Daily chart: The GBP/USD remains weak and a bearish trend could regain strength in the coming days as the next target of this pair is the support level of 1.7000. If GBP/USD manages to make a breakout at that level, it would be expected to fall to the support level of 1.6851, so this pair could fall to 200 SMA in the long term. The MACD indicator remains in negative territory.

H4 chart: Again the GBP/USD made a bullish rebound above the 200-day moving average, which is close to the support level of 1.7062, so it is likely that this pair will rise to the resistance level of 1.7179. However, a consolidation below the 200 SMA, could lead the GBP/USD to fall to the support level of 1.6995. The MACD indicator is in negative territory.

H1 chart: The GBPUSD attempted to make a breakout at the 1.7050 level but failed and now this pair is trying to consolidate above the resistance level of 1.7100. If successful, it is expected to rise to the level of 1.7150, which is above the 200 SMA. MACD indicator is in positive territory.

Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the GBP/USD pair breaks a bearish candlestick; the support level is at 1.7050, take profit is at 1.7000, and stop loss is at 1.7100.

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#USDX Technical analysis for July 21, 2014 Trend News

The Dollar index is testing important resistance at 80.60-80.70. The trend remains upward. Price is above the Ichimoku cloud in the 4-hour chart. Support is found at 80.35 and then at 80. Resistance is found at 81 and 81.75. As I mentioned in my previous post, breaking above 80.70 will confirm that my target is 81.75.

In the short-term, the Dollar index is forming a bullish flag. Breaking above 80.65 will confirm an upward break out and a target near 81. Breaking below 80.50 will push the index towards its next support at 80.35 and then at 80.

The Dollar index is above the Ichimoku cloud and is making higher highs and higher lows in the daily chart as shown above. My target is 81.75 and I believe the upward momentum will become stronger in the Dollar index. The 80 price level is important daily support and I remain bullish as long as we trade above that level.

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Gold wave analysis for July 21, 2014 Trend News

Gold price has risen from $1,290 to $1,325 as expected. Price has pulled back up towards the 61.8% Fibonacci retracement in a three wave corrective move. Trend remains down. Price was rejected at resistance and we have now formed an important lower top. Price is below Ichimoku cloud and as price makes lower highs and lower lows we confirm trend is down.

Gold price is now expected to continue its downward move that started at $1,346 where I believe wave E of wave 4 was completed. The first part of the decline was impulsive and the upward correction not. This means that more downside is expected and a lower low from $1,290 should be seen this week. My first target is $1,280-70.

Gold price is expected to move towards the Ichimoku cloud support near $1,280 and test the important triangle support trend line at $1,270. If this trend line is broken, we will have confirmation that wave E was completed and a new downward move has started that will eventually push Gold price towards $1,000.

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