Gold analysis for August 22, 2014 Trend News

Overview:

Since our last analysis, gold has been trading downwards. Just like we expected, the price tested the level of 1,272.90 in a very high volume. We got successful rejection from our Fibonacci retracement 61.8%, which caused the price to start downward movement. Our Fibonacci expansion 61.8% at the price of 1,284.00 is broken. So, we may see potential testing the level of 1,260.00 (Fibonacci expansion 100%). We can observe very weak demand according to the 4H timeframe, which is a sign that buying looks very risky. Watch for potential selling opportunities afer retracement.

Daily pivot Fibonacci points:

Resistance levels:

R1: 1,277.71

R2: 1,277.93

R3: 1,278.27

Support levels:

S1: 1,277.03

S2: 1,276.81

S3: 1,276.47

Trading recommendations: Buying Gold looks risky since the price has broken support level.

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Technical analysis of GBP/USD for August 28, 2014 Trend News

Overview :

• The market has been in a downtrend since yesterday and started dropping form the level of 1.6628. Also, it should be noted that the price of the GBP/USD pair opened below the weekly resistance 1 at the level of 1.6628. Additionally, the double top sets at 1.6622 in H1 chart. Therefore, the market will probably indicate a bearish opportunity at the level of 1.6622 or/and 1.6630 in the short term. According to the previous events, the price is going to move between the levels of 1.6622 and 1.6566. The level of 1.6566 is going to represent the double bottom and the strong support will be set at the 1.6554 level. Therefore, the area below 1.68630 (the weekly resistance 1) looks for further downside with the first target at the 1.6566 (the double bottom) level and continue towards 1.6554 in order to test the weekly support in H1 chart. However, the stop loss should be placed at the price of 1.6653.

Intraday technical level :

Date:22/08/2014

Pair:GBP/USD

• Projected high:1.6720


• Breakout (buy stop):1.6665


• Strong resistance (sell limit):1.6635


• Current pivot:1.6581


• Strong support (buy limit):1.6527


• Breakout (sell Stop):1.6502


• Projected low:1.6452

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Technical analysis of EUR/USD for August 28, 2014 Trend News

Overview :

• The EUR/USD pair has already formed a strong resistance level of 1.3370. This level had already represented the last weekly resistance 1. This week coincides with the ratio of 50% Fibonacci retracement levels in the daily chart. Additionally, after it failed to close above 1.3370, the pair started signaling for the bearish market at this spot. Therefore, the pair will have a downside rather convincing momentum. The structure of the fall does not look corrective. In order to indicate a bearish opportunity below 1.3370 or 1.3330, it will a good idea to sell below this area with the first target of 1.3230 to test the double bottom (38.2% Fibonacci retracement levels). Its chart will call for a downtrend in order to continue bearish move towards 1.3200. However, it should be noted that the price has still been moving between 1.3228 and 1.3315. So, we expect a range of 63 pips on August 22, 2014.

Intraday technical levels :

Date:22/08/2014

Pair:EUR/USD

• R3: 1.3348


• R2: 1.3317


• R1: 1.3300


• PP: 1.3269


• S1: 1.3252


• S2: 1.3221


• S3: 1.3204

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Technical analysis of EUR/JPY for August 22, 2014 Trend News

General overview for 22/08/2014 10:00 CET

This is the last chance scenario for bears impulsive count before the level of 138.02 will be violated and the impulsive count invalidated. Breakout below the golden trendline is the key for further downside move.

Support/Resistance:

138.02 - Swing High | Invalidation Level | Key Level|

137.70 - WR1

137.45 - Intraday Support

137.03 - Weekly Pivot

Trading recommendations:

Day traders should consider opening sell orders from the current market price with SL above the level of 138.02 and first TP at the level of 137.45.

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Technical analysis of USD/CAD for August 22, 2014 Trend News

General overview for 22/08/2014 10:00 CET

As anticipated yesterday, the five wave impulsive structure looks completed. Now, it is correction time. There are at least two main shapes that this corrective structure might unfold and it all depends where green wave b will be finished. If green wave b will be completed below the key level at 1.0946, then the shape of the corrective cycle will be a zig-zag. If the wave will break out higher into the last swing high level, then the chances are high, that the corrective cycle will be in shape of a regular/irregular flat cycle. The main support level is at the weekly pivot at the level of 1.0901.

Support/Resistance:

1.0901 - Weekly Pivot

1.0926 - Intraday Support

1.0946 - Intraday Resistance

1.0944 - WR1

1.0984 - Swing High

Trading recommendations:

Buy orders should be closed now or trailing stop orders should be used to protect the profits on all open buy orders. It is highly recommended to wait until the corrective cycle is completed before opening another position.

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Elliott wave analysis of EUR/NZD for August 22, 2014 Trend News

Today's support and resistance levels:

R3: 1.5826

R2: 1.5809

R1: 1.5793

Current spot: 1.5784

S1: 1.5770

S2: 1.5746

S3: 1.5716

Technical summary:

Wave c of 2 seems to be unfolding according to our expectations. We are currently looking for resistance at 1.5793, which ideally will protect the upside for a break below minor support at 1.5770 for a contination lower towards 1.5746, the wave c target near 1.5716 to end the wave 2 correction as well as and set the stage for a new impulsive rally in wave iii higher to 1.6205 and beyond.

Trading recommendation:

We will buy EUR at 1.5725 with a stop placed at 1.5680.

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Technical analysis of EUR/USD for Aug 22, 2014 Trend News

Technical outlook and chart setups:

1. The EUR/USD pair has resumed its longer-term downtrend and has just managed to take out support at the 1.3295 levels. Fibonacci support suggests that the pair could print another low at the 1,3200 levels before retracing higher. Probabilities of a counter trend rally towards 1.3700/50 levels remain high.

2. Support is seen at 1.3200 (fibonacci), followed by 1.3100 and lower, while resistance is at 1.3450, followed by 1.3700 and higher respectively.

3. The structure indicates that EUR/USD could resume its counter trend rally any moment now.

Trading recommendations:

Buy on dips, stop below 1.3200, target is open.

Good luck!

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Elliott wave analysis of EUR/JPY for August 22, 2014 Trend News

Today's support and resistance levels:

R3: 138.76

R2: 138.45

R1: 138.01

Current spot: 137.84

S1: 137.78

S2: 137.58

S3: 137.37

Technical summary:

Well, nothing has really changed here. We are still left with two possible scenarios. One is calling for a final decline to 134.34, if resistance near 138.01 protects the upside. The other scenario is telling us that the bottom already is in place with the test of 135.73. We give more preferences to the first scenario calling for yet anothet decline towards the equally important target at 134.34. But then, we should ideally see resistance at 138.01 protecting the upside for a break below minor support at 137.78 and more importantly below 137.71 calling for renewed downside pressure. That said, as long as minor support at 137.78 protects the downside, we are alert to a firm break above 138.01 calling for a continuation higher towards 138.45 and higher.

Trading recommendation:

We will sell a break below support at 137.76 with a stop at 138.05.

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Technical analysis of EUR/JPY for Aug 22, 2014 Trend News

Technical outlook and chart setups:

1. The EUR/JPY pair almost halted at the 138.00 levels as seen here, by taking out first resistance. The pair is expected to dip towards 136.50 levels before rallying further. Please, note that this rally is still a retracement of the overall downtrend.

2. Support is seen at 135.80/136.00, followed by 134.00 while resistance is seen at 139.30, followed by 140.00 and higher respectively.

3. The structure indicates that EUR/JPY has possibly resumed its counter trend rally and buying on dips is favored.

Trading recommendations:

Remain flat, look to go long at 136.50.

Good luck!

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#USDX Technical analysis for August 22, 2014 Trend News

The Dollar index has broken the short-term upward sloping channel. A short-term downward pull back is expected to push price towards 81.80. The intermediate-term trend remains bullish. However, price is showing short-term reversal signs to the downside.

Price has broken the upward sloping channel as shown in the 4 hour chart above and is testing the Ichimoku cloud support. Short-term resistance is found at 82.20 and short-term support at 82. If resistance is broken, I would expect at least a double top. If support is broken, we should expect price to fall towards 81.80.

The daily chart remains bullish as price remains inside the upward sloping channel. As mentioned yesterday, we are at the final stages of wave 5. Bulls should not get overconfident that this rally will never end. Initial pull back signs were given yesterday and daily support is found at 81.80. We could very well be in wave (4) of 5. This scenario will be canceled if price breaks below 81.65. The trend remains up on a daily basis.

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Gold Wave analysis for August 22, 2014 Trend News

Gold price has reached the important support of $1,270 as expected, after breaking below $1,280 low. The trend remains bearish. Price is making lower lows and lower highs. However we see initial signs of a potential bullish reversal from current levels.

Short-term resistance is found at $1,290 and at $1,300. Price is below the Ichimoku cloud and inside a downward sloping channel. Support at $1,270 is very important as this is where the trendline from $1,180 and $1,240 comes through.

The decline from $1,346 is still in three waves and does not look impulsive. This is why I believe this is a part of a corrective wave and we should soon expect an upward reversal in Gold price. The bounce from $1,271 may be short lived but it is too early to tell yet. An initial buy signal will come once we break above $1,290 and $1,300. The target remains $1,350.

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Technical analysis of GBP/CHF for Aug 22, 2014 Trend News

Technical outlook and chart setups:

1. The GBP/CHF pair is trading at 1.5120 levels for now and it is expected to rally at least towards the 1.5250 levels, if not higher. The pair could form a lower top below 1.5350 and turn lower again.

2. Support is seen at 1,4950, followed by 1.4760/70 and lower, while resistance is seen at 1.5350, followed by 1.5450 respectively.

3. The structure indicates that GBP/CHF should rally in a corrective mode towards 1.5250 levels at least.

Trading recommendations:

Remain long, stop below 1.5050, target 1.5250.

Good luck!

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Technical analysis of Silver for Aug 22, 2014 Trend News

Technical outlook and chart setups:

1. Silver might just have formed bottom yesterday at $19.30 levels as seen here. The metal has bounced of to intraday highs near $19.60 and is still expected to continue higher from here. Bulls should remain in control from here on.

2. Support is seen at the $19.00 levels, followed by $18.60 and lower, while resistance is seen at $20.10 (interim), followed by $20.80.$21.00, $21.70 and higher up respectively.

3. The structure indicates that Silver might have resumed the larger trend that is higher. A push through $20.10 levels would confirm.

Trading recommendations:

Remain long, stop below $19.00, target is open.

Good luck!

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Technical analysis of Gold for Aug 22, 2014 Trend News

Technical outlook and chart setups:

1. Gold might have formed base at the $1,271.00 levels yesterday, as seen here. A bullish reversal candlestick signal would confirm the same here. The metal could continue forming higher highs and higher lows till prices remain above $1,260.00 and subsequently $1,240.00.

2. Support is seen at $1,260.00, followed by $1,240.00 and lower while resistance is seen at $1,324.00, followed by $1,340.00, $1,388.00 and higher respectively.

3. The structure indicates that Gold could possibly turn bullish from the current levels.

Trading recommendations:

Remain long, stop at $1,270.00, target is open.

Good luck!

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Technical Analysis of USD/CAD for August 22, 2014 Trend News

The pair has been making a head and shoulder pattern in the daily chart. The pair rejected at the neck line in yesterday's session. The pair is trading at 1.0936 in Asia's session. On the down side, it has support at 1.0915 (20DMSA), 1.08757(200DSMA), and 1.0864 (100DSMA). After the price goes through the neckline, it can spike up to 1.1020 and 1.1050 in the near term. The nearest resistance found at 1.1 above this, 1.1020 is the 61.8 fib level. Traders can buy once the price breaches above the neckline

Strong buy above 1.1.

A daily close below1.0860, the above study becomes invalid, and the pair can drift up to 1.08 levels.

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Technical Analysis of Gold for August 22, 2014 Trend News

The chain of upbeat data from the US pushed the metal to short-term key support levels and made a low at $1,272.80. In the weekly chart, the metal is trading near the 8-month support trend line. If it hits and closes below today, the yellow metal will push towards the $1,265, $1,262, $1,258 and even $1,240 levels in the near term. This Monday (August 18, 2014), we recommended selling with sl 1303.50-1305 minted good money. Yesterday, we recorded selling with sl at $1,291.50. Both gave good returns. Instead of saying, that bears fight bulls, we can say strategists fight the news (The US Fed) at the end of the day. The closing prices will give one side move in the short term.

Support is at $1,270, $1,266, and $1,260-$1,258

Resistance is at $1,285, $1,293, and 1303.50-1305

The pair has been making lower low's and lower high's from the first trading in this week. As of now, the pair made a higher low in today's Asian session. The prices are closed and trading below the 12ema, negative for intraday. Until the price closes above 12ema in the h4 chart at $1,284, selling on an up move will mint money.

Hourly- Intraday

Fresh sell below $1,276.

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Technical Analysis of GBP/USD for August 22, 2014 Trend News

The UK sales data missed the expectations. The retail sales were up 2.6% in August vs 3.6% in July. Ahead of the data, the cable drifted towards the short-term crucial support level at the 1.6550 levels. A weekly close is below 1.6550; the bears will get super power to make the 1.6465, 1.6385, and 1.6365 levels. Until the pair closes above 1.6810, selling on an up move will mint the money in the short term.

In the near term, 1.67 will act as the crucial level for the trend determination.

Support is at 1.6550, 1.6465, and 1.6385.

Resistance is at 1.6640, 1.6675, and 1.6740.

The pair has been making lower lows and lower highs since the first trading session this week. As of now, the pair made a lower high today as well. The prices are closed and trading below the 12ema, negative for intraday. Until the price closes above 12ema in the h4 chart at 1.66, selling on an up move will mint money.

Resistance is at 1.66, 1.6630, and 1.6660.

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Technical Analysis of EUR/USD for August 22, 2014 Trend News

Today, all eyes around the globe are riveted to the Yellen's speech. The Euro drifted to an 11 month's low against the US dollar. The pair held support at the 61.8 fib level (1.2756-1.399), traders are waiting for the today's event. On the down side, it has support at 1.3105 (September 2013 low) and 1.30 (80.0 fib level). On the higher side, it has resistance at 1.3364-1.3370. A daily close is above the 1.3370; the pair will favor a relief rally. At the current market juncture, a break below 1.3230 happened again. So, bears will attack again to make a new low at 1.32 and 1.3160 immediately.

Resistance 1.3290 1.3364 1.3370

Support 1.3240 1.32 1.3160

In today's session, the pair was unable to breach yesterday's high. In the h4 chart, the pair is unable to sustain above 12ema. It is better to buy until the h4 candle closes above the 12ema. If it manages to close above 12ema, only then it can fly up to 1.33 and 1.3333 initially.

Risky traders sell with sl 1.33.

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