Technical analysis of NZD/USD for July 22, 2014 Trend News

• Pair: NZD/USD


• Period: from Tuesday to Friday.


• Date: July 22, 2014.


• Weekly range: between 110 pips and 140 pips.


• Volatility: 287.63

Overview :

• The NZD/USD pair will continue falling straight from the level of 0.8622 in H4 chart. It is probably going to form a double bottom at the level of 0.8620. Therefore, the Kiwi is showing signs of strenght following the break of the highest level of 0.8620. So, it will be a good sign to buy in the short term above the level of 50% of Fibonacci retracement levels in H4 chart (0.8621) with the first target of 0.8680 in order to retest the daily pivot point and further 0.8740 (the price of 0.8740 will act as strong resistance, so it is going to be a good place to take profit). Also, it should be noted that this level of taking profit will coincide at 78.6% of Fibonacci. However, in case a reversal takes place and NZD/USD breaks through the support level of 0.8605, the market will lead to further decline to 0.8570, in order to indicate the bearish market today.

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Gold analysis for July 22, 2014 Trend News

Overview:

Since our last analysis, gold has been trading downwards. The price tested the level of 1,304.39 in a volume below average according to the daily timeframe. According to the daily timeframe, we can observe demand in a volume below average as well as rejecting from our Fibonacci retracement 61.8% at the price of 1,324.70. We can observe a strong buying climax bar in the background according to the 4H timframe, which caused the price to start downward movement. I have placed Fibonacci expansion to find potential resistance. and I got Fibonacci expansion 61.8% at the price of 1,323.00 and Fibonacci expansion 100% at the price of 1,336.00. Support level is still around the price of 1,291.00.

Daily pivot Fibonacci points:

Resistance levels:

R1: 1,317.84

R2: 1,320.46

R3: 1,324.70

Support levels:

S1: 1,309.36

S2: 1,306.74

S3: 1,302.50

Trading recommendations: Be careful with buying and watch for potential selling opportunities after retracement.

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Technical analysis of USD/CHF for July 22, 2013 Trend News

Overview :

• Probably, a strong resistance level of the USD/CHF pair will be set at the level of 0.9050 (below the 127.2% Fibonacci retracement level in the 1H chart). But a double top has been formed at the 0.9036 price. The latest bearish wave for the last month was created, and the level of 0.9050 became strong resistance. So, the saturation is likely to take place around 0.9050, because this level is the second strong support (the previous minor resistance level was set at 0.9010). Therefore, it is possible that the market will start showing bearish signs from the spot of 0.9050 or 0.9030. Inn the other words, short positions are recommended below 0.9050/0.9030 with the first target at the 0.9010 level and further at the 0.8967 level. The stop loss should be placed at 0.9080.

Intraday technical levels :

Date:22/07/2014

Pair:USD/CHF

• R3: 0.9062


• R2: 0.9038


• R1: 0.9025


• PP: 0.9001


• S1: 0.8988


• S2: 0.8964


• S3: 0.8951

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

Today's support and resistance levels:

R3: 1.5657

R2: 1.5628

R1: 1.5598

Current spot: 1.5581

S1: 1.5553

S2: 1.5540

S3: 1.5510

Technical summary:

We are currently looking for a break above minor resistance at 1.5598 as confirmation that the next impulsive rally higher to 1.5885 is developing. However, as long as this minor resistance at 1.5598 is able to protect the upside, we will have to allow for a new test of 1.5510 and maybe even slightly lower to 1.5484, but this is not our preferred outcome at this point.

Trading recommendations:

We are long in EUR from 1.5525 with stop placed at 1.5395. If you are not long in EUR yet, then buy EUR near 1.5485 or upon a break above 1.5598 with the same stop at 1.5395.

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

General overview for 22/07/2014 08:45 CET

Not much development on this pair has occurred since yesterday's analysis. So, let me remind again the current situation. Any breakout below the level of 1.0711 confirms the main bearish view and lower levels should be expected then. Nevertheless, any breakout higher above the key level invalidates the main bearish impulsive count. Please notice, that the medium outlook remains bearish and only a sustained violation of the level of 1.0794 invalidates this view.

Support/Resistance:

1.0794 - Swing High

1.0775 - WR1

1.0765 - Intraday Resistance

1.0741 - Weekly Pivot

1.0726 - Intraday Support

1.0695 - Techncial Support

Trading recommendations:

Swing and day traders should keep the short positions open with SL above the level of 1.0794 and TP below the level of 1.0625

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

General overview for 22/07/2014 08:30 CET

As anticipated yesterday, the market is in a corrective upward cycle of green wave c or wave alt:(iv). Currently, this pair is trading just below the weekly pivot at the level of 137.32, and it will act as resistance here. Moreover, the next hurdle for the market is the intraday resistance at the level of 137.41. Golden trendline dynamic resistance is just above that as well. The upside then seems to be pretty limited. Lower prices are still expected in the near term. Please notice, that any breakout above the level of 137.50 invalidates the green alternate count.

Support/Resistance:

139.05 - WR2

138.43 - Wave 4 Top

137.91 - WR1

137.48 - 137.63 - Techncial Resistance

137.32 - Weekly Pivot

137.41 - Intraday Resistance

136.76 - Intraday Support

136.17 - WS1

136.07 - Wave alt.(v) Target Level

Trading recommendations:

The current price action looks clearly corrective and lower prices are expected in the near term anyway. So, day traders should consider opening short orders from the current price levels, with SL above the level of 137.64 and TP below the level of 136.90.

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

The hourly oscillators favor the pullback mode. The pair is holding above the hourly moving averages. In Asia's session, it is facing resistance at 137.39-137.45. Fresh buyers can buy above 137.50 with targets at 137.75 and 138 levels. On the down side, the pair has support at 137 and 136.85 levels. Below 136.85, the pair looks weak. On the down side, the pair has weekly support at 136.20/136 levels. A day close below 136, it can drift up to 134 levels.

A day close above 137.75, the pair can fly up to 138.50 on a positional basis.

Intraday buying is only above 137.50 with targets at 138, 138.25, 138.40 and 138.50.

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