Elliott Wave Analysis of EUR/NZD for January 2, 2014 Trend News

Today's Support and Resistance Levels:

R3: 1.6818

R2: 1.6790

R1: 1.6765

Current Spot: 1.6733

S1: 1.6683

S2: 1.6621

S3: 1.6569

Technical Summary:

We are currently at strong support near 1.6683 and a break below here will indicate continuation towards the 1.6569 area. However, if this support protects the downside from a break above 1.6807, the green wave ii will be done and a new powerful rally towards 1.6996 and higher to 1.7239 will be in green wave iii. For now we just have to be patient and let time show us which scenario is the correct one.

Trading Recommendation:

Book your profit from the short position taken at 1.6785 here. Look to sell EUR again at 1.6785 with a stop at 1.6820.

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Technical analysis of EUR/JPY for January 02, 2014. Trend News

Technical Outlook and Chart Setups:

1. The single currency pair is trading sideways as seen on shorter timeframes, (4H specifically). As seen on the daily chart depicted here, a push above the 145.00/50 level will still open doors for 147.00 on the higher side. Recommendations are to remain flat for now and await for a clear signal to initiate short positions.

2. Resistance is fixed at the 145.50 level, while supports are spread through 142.00, 141.00, 138.50, and lower. Also the support trend lines still remain intact as seen here. We need a break of trend line and at least 142.00 to confirm that a meaningful top is in place.

3. Entire structure reveals that EUR/JPY is in a bull run, which should continue after a meaningful pullback though.

Trade recommendations:

Flat for now.

Good luck!

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Technical analysis of GBP/CHF for January 02, 2014 Trend News

Technical Outlook and Chart Setups:

1. The GBP/CHF has exceeded the pullback/retracement towards the 1.4800 level, as depicted here. This is also the 0.786 retracement/resistance of the downswing from 1.4900 to 1.4350 recently. It is recommended to remain short with risk above 1.4900.

2. Major resistance is fixed at the 1.4900 level, while supports are spread through 1.4550 (intermediary) followed by 1.4350, 1.4200, and 1.4000, respectively.

3. The structure still reveals that a possible downswing should resume towards 1.4200 and 1.4000, respectively. Immediate resistance is the 1.4800 level.

Trade Recommendations:

Remain short, stop is at 1.4950, target is 1.4000.

Good luck!

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Gold: analysis for December 31, 2013 Trend News

Overview:

Since our last analysis, Gold has been trading downwards, as we expected, the price tested the level of 1,194.68 on low volume and that is the reason why we saw the small upward correction and the testing of 1,206.13.We can observe that supply on high volume has entered the market at 1,206.00, so the level of 1,206.00 may be the point for further bearish continuation.We can also see decreasing volume on upper legs which is good sign for further bearish continuation.We may see testing of previous swing lows at the price of 1,192.00 and 1,187.00.Do not forget, Gold is in the bearish trend so buying looks very risky. Watch for selling opportunities.

Daily pivot Fibonacci points:

Resistance levels:

R1: 1,209.31

R2: 1,213.75

R3: 1,220.93

Support levels:

S1: 1,194.95

S2: 1,190.51

S3: 1,183.33

Trading recommendation: Trading the metal, be careful with short-term buying and look for selling opportunities.

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#USDX Analysis for December 31, 2013 Trend News

The Dollar index is still trading within price limits that do not show a clear trend path. So we neither prefer bullish or bearish setups. We are not bullish or bearish. We prefer to remain neutral as the price action in the Dollar index due to holiday season remains low and volatility is expected to remain low.

Price action remains overlapping and there is no clear sign of a direction in this market. Although the longer term trend favors bearish positions as prices continue to make lower lows and lower highs, we prefer to remain neutral. Short term support is found at 79.70 and short term resistance is found at 80.40. We prefer to think of opening a new position only if prices break an important resistance or support.

The daily chart remains complicated with no real directional signal. We remain neutral.

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Gold analysis for December 31, 2013 Trend News

Gold prices as expected by our analysis have not managed to move above the downward sloping channel resistance levels at $1,220 and reversed down. Prices have broken below the short-term pivot area of $1,205 and are now testing the first important support level at $1,1195. We continue to prefer the wave scenario shown in the chart below.

The alternative preferred wave scenario implies that we are making a couple of 1-2 waves down. This scenario implies even more downside potential. We should not forget we are currently in the final stages of the downward move from $1,360. However, there is an opportunity to open short positions to take profit of the potential decline towards $1,140-$1,150, we anticipate.

The daily chart continues to show that the trend is downward. Prices continue to trade within the long-term downward channel. We remain bearish. The target is $1,140-$1,150.

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Gold: analysis for December 30, 2013 Trend News

Overview:

Since our last analysis, Gold has been trading downwards, as we expected, the price rejected from the level of 1,218.76 (FE 100 %) on ultra high volume and tested the level of 1,200.49 on high volume. According to the 1H chart, Gold finished bullish corrective phase. We can observe that strong supply on very high volume has entered the market at 1,218.00 so the level of 1,218.46 may be our point d (abcd corrective). We can also see decreasing volume on upper legs which is good sign for further bearish continuation.We may see testing of previous swing lows at the price of 1,192.00 and 1,187.00. Anyway, if the price breaks the area of 1,218.76 on high volume, we may see the testing of FE 161.8% at 1,225.90, before we start with bearish continuation. Do not forget, Gold is in bearish trend so buying looks very risky. Watch for selling opportunities.

Daily pivot Fibonacci points:

Resistance levels:

R1: 1,214.98

R2: 1,215.66

R3: 1,216.77

Support levels:

S1: 1,212.76

S2: 1,212.08

S3: 1,210.97

Trading recommendation: Trading the metal, be careful with short-term buying and look for selling opportunities.

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