Intraday technical levels and trading recommendations for EUR/USD for January 22, 2014 Trend News

Bullish movement above 1.3450 within the previous bullish channel allowed the pair to hit further supply levels around 1.3650 then 1.3750. This bullish momentum was taking place until obvious bearish rejection was expressed at 1.3850 (failing to reach 100% Fibonacci Expansion at 1.3904).

A breakdown of the depicted bullish channel took place shortly after (January 2). This led to the current bearish movement within the newly established bearish channel.

Within the depicted bearish channel, the bears managed to establish lower lows at 1.3550 then 1.3510.

Price Level of 1.3515 (lower limit of the bearish channel and previous low) has been rejecting the bears for three successive days enhanced by the presence of SMA-100 approximately at the same price zone.

The daily chart outlook remains negative probably targeting at 1.3460-1.3400 (prominent DEMAND levels on DAILY chart).

Indecision around 100-SMA (located at 1.3660) led to a bearish movement towards 1.3500.

The pair remains moving within the channel probably heading to test the lower limit at 1.3450 where bullish rejection is expected to be found.

We should note that 1.3515 is an important key-level on the intraday basis. It corresponds to previous price ranges that goes back to December 3.

The bears need to achieve 4H fixation below 1.3515-1.3500 to gather enough bearish momentum to push towards 1.3400. Otherwise, a bullish impulse towards 1.3600 wouldn't be excluded.

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Elliott Wave Analysis of EUR/NZD for January 22, 2014 Trend News

Today's Support and Resistance levels:

R3: 1.6334

R2: 1.6307

R1: 1.6284

Current spot: 1.6263

S1: 1.6238

S2: 1.6190

S3: 1.6129

Technical summary:

The correction we expected to end at 1.6310 became slightly more complex and ended at 1.6334. However, in the short term we are looking for minor resistance at 1.6284 to protect the upside for the next decline towards 1.6129 and perhaps even lower towards 1.6049 to end wave (v) and iii. Once wave iii is in place look for a complex correction in wave iv towards 1.6315 and likely even higher to 1.6431 before the last impulsive decline towards the ideal target at 1.5793.

Trading recommendation:

Stay short from 1.6405 and lower your stop to 1.6340 and keep take profit at 1.6150. If you are not short in EUR yet, then sell near 1.6285 or upon a break below 1.6238 with the same stop and take profit levels.

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Elliott Wave Analysis of EUR/JPY for January 22, 2014 Trend News

Today's Support and Resistance levels:

R3: 141.77

R2: 141.49

R1: 141.29

Current spot: 141.25

S1: 140.92

S2: 140.60

S3: 140.32

Technical summary:

With the break below support at 141.34 we knew that red wave ii was in place at 141.85 (just below the ideal target at 141.92). In the short term we will be looking for resistance at 141.49 to protect the upside for a break below support at 140.92 which confirms a continuation lower towards 137.64 and perhaps even lower towards 136.65 as the powerful red wave iii extends lower.

In the longer term we are looking for a major correction towards 125.99.

Trading recommendation:

Stay short from 141.85 with your stop at 142.90 Move stop lower to 141.90 upon a break below 140.92. If you are not short EUR yet, then sell upon a break below 140.92 with stop at 141.90.

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

General overview for 22/01/2014 08:30 CET

This pair is keeping making new higher highs and that is why I decided to take a look at the higher time frames like H4 to analyse the possible wave development. There is some evidence, that a termination pattern in shape of Ending Diagonal triangle is being formed on H4 time frame. Currently, there are three waves completed inside the Ending Diagonal and this pattern has one more wave up to complete before the sell off will happen. The projected target area for wave (v) blue is between the levels of 1.1037 - 1.1063. From there the impulsive wave progression should start and the first support for the sell off would be a blue trendline and Weekly Pivot at the level of 1.0939. To confirm this scenario, the breakout below the level of 1.0904 must happen as the first weak confirmation that the top is in place. Please notice that a Bearish Divergence has formed on momentum oscilator, supporting the scenario of a sudden price collapse after the target zone is hit.

Support/Resistance:

11087 - WR2

1.1037 - 1.1063 - Target Zone for wave (v)

1.1018 - Intraday High

1.0939 - Weekly Pivot

1.0904 - Wave (ii) support level

1.0887 - WS1

1.0839 - 1.0866 - Previous wave four area

1.0790 - WS2

Trading recommendations:

Long positions should be opened from curent price levels with SL below the level of 1.0939 and TP at the level of 1.1037.

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

General overview for 22/01/2014 08:15 CET

The yesterday's labeling has been slightly changed and the top for wave (i) blue has been moved higher to the level of 141.82. The following price action is a corrective cycle wave (ii) blue and still more upward price progression is expected when the correction is finished. The first dynamic resistance is being provided by the golden trendline and only a breakout above the Key Level at 141.82 would mean the correction is over and an impulsive wave development has started. On the other hand, the correction might get more complex and time consuming if the mentioned golden trenline and Key Level are not violated. In that case there is a possibility, that Intraday Suport at the level of 141.02 will be tested again, but as long as the low at the level of 140.31 is not taken out, the outlook remains bullish.

Support/Resistance:

142.90 - Wave b green High

142.32 - WR1

141.82 - Intraday Resistance | Key Level|

141.42 - Weekly Pivot

141.02 - Intraday Support

140.31 - Swing Low

139.92 - WS1

Trading recommendations:

As I had mentioned before, the outlook is bullish and long positions should be open if the level of 141.83 is broken. In this case SL should be placed below the level of 141.59 and TP should be placed at the level of 142.15 and 142.32.

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Crude oil: Mathematical Analysis with Murray Lines for January 22, 2014 Trend News

Daily chart

After several days of indecision Crude Oil finally was picking up Tuesday with a large candle of decision. Although it was not sufficient to break the top line of its trading range as the 5/8 (green line), however, it shows us that the force is on the side of buyers. Therefore, we can expect that the following days continue with their upward trend and take buying positions above 95.31, with goals of at least 160 pips until its next resistance at 96.88.

4-hour chart

The price is drilling its housing price for the top area, which gives us indications that the bulls seem to regain control.

Although at this time Crude Oil is encountering resistance at the 5/8 line (green line) and this can make it back a little, despite the accumulation of candles that exists in the area of range which he departed the price, it will be a support area to take into account.

1-hour chart

Finally in the 1-hour chart Crude oil is on the verge of the top line of the channel of trend and although we can expect a slight setback in the next few hours, the more likely it is that during the American session prices will continue to climb, but if the price again enters below the bracket which broke after their promotion makes it about 4 hours, this panorama is invalidated and the best thing would be leaving our buying positions.

If you have any questions or suggestions, please contact me right through:

Email:antonio.inga@analytics.instaforex.com DISCLAIMER

No information published constitutes a solicitation, offer, or recommendation, to buy or sell any investment instrument, to effect any transactions, or to conclude any legal act, whatever its nature.

The information published and opinions expressed are provided on an only for information only and is subject to change without notice, delimiting the company responsibility for decisions originating from the same, and they cause any kind of profit, loss or damage.

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Technical analysis of EUR/USD for 22.01 Trend News

The German economy grew 0.4% in the previous year and is expected to show better performance in the current year of 2014. The euro zone is showing a good sign of recovery led by increase domestic demand. Strong domestic demand plays a vital role in the German recovery. In the year of 2013, GDP stretched by just 0.4% compared to 2012, the worst performance since 2009 - the lowest level for four years. In 2014, GDP is forecasted to grow by 1.2-2.0%. We can see investments by German companies going higher, which is a good sign.

In the currency front, EUR/USD is trading at the level of 1.3558. After making a new high in 2013 at the level of 1.3893 the pair went through correction. In the daily charts oscillators sign oversold indications, which lead to a pull back. But overall trend is down. The pair breaks the trend line and close below the trend line, the first sign of bearishness, prices trading below 21DEMA which adds more bearish views. Final confirmation of bearishness comes if prices close below 1.35, until pull back to resistance zones is possible.

Support- 1.3550 1.35

Resistance- 1.3620 1.365

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