Daily analysis of USDX for August 11, 2014 Trend News

Daily chart: The USDX remains below the resistance level of 81.50. That level has remained very strong in recent days, so the USDX has not been able to progress more bullish on the road. If the USDX does make a breakout at that level, it would be expected to rise to the level of 82.51. The MACD indicator is entering negative territory.

H4 chart: The USDX continues to find support at the 81.58 level, where this instrument has made rebounds for many times to try to make a breakout at the level of 81.60, but without success. However, if the USDX does make a breakout at the 81.02 level, it is expected to fall to the support level of 80.60. The MACD indicator is in negative territory.

H1 chart: The USDX remains above the 200 SMA and the support level of 81.40, so it is very likely that this instrument will go up to the resistance level of 81.58. However, if the USDX does make a breakout at 81.40 level, it is expected to fall to the support level of 81.19. MACD indicator is in positive territory.

Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the USD Index breaks with a bullish candlestick; the resistance level is at 81.58, take profit is at 81.73, and stop loss is at 81.43.

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Daily analysis of GBP/USD for August 11, 2014 Trend News

Daily chart: The GBP/USD has begun to form a higher low pattern above the support level of 1.6766, because in the previous session, the pair had a fairly steep decline. If the GBP/USD manages to make a breakout at that level, it would be expected to fall to the support level of 1.6663. The MACD indicator is in negative territory.

H4 chart: This pair is trying to make a breakout at the level of 1.6762, where the GBP/USD has begun to form a fractal. This pair is likely to make a rebound at current levels, although the bearish force is becoming more solid. If the GBP/USD manages to make a breakout at the level of 1.6841, it is expected to rise to the level of 1.6900.

H1 chart: The GBP/USD has made a successful breakout at the level of 1.6800 and now, the GBP/USD is trying to form a bearish pattern below that level. If the pair manages to make a breakout at the support level of 1.6750, it would be expected to fall to the 1.6700 level in the short term. The MACD indicator is in neutral 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 1.6750, take profit is at 1.6700, and stop loss is at 1.6800.

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Intraday technical levels and trading recommendations on GBP/USD for August 8, 2014 Trend News

Breakdown of the DEMAND level around 1.6975 allowed quick decline of the GBP/USD pair towards the price zone of 1.6800-1.6820.

At retesting the price zone of 1.6800-1.6820, considerable bullish recovery took place. This bullish movement was formed below 1.6880.

On Wednesday, the GBP/USD pair declined again towards 1.6827. This came after the release of the British manufacturing data, which came below expectations.

In case the bears keep applying bearish pressure, we expect the pair to visit the price level of 1.6760 ( previous broken top established in February 2014 ).

As expected, the price zone between 1.7140 - 1.7170 provided evident bearish price action.

A pattern of multiple tops was confirmed after breakdown of the depicted bullish channel. Moreover, successive bearish targets were already reached last week.

As expected, the GBP/USD bears could have kept their SELL positions up to the price level of 1.6830 where the current Demand Level is located.

The price zone of 1.6830 - 1.6800 remains a significant zone as it corresponds to a previous consolidation zone established in June. However, 4H breakdown of this zone exposed price level around 1.6760 and 1.6730 to come next.

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Technical analysis of USD/JPY for August 8, 2014 Trend News

Overview:

USD/JPY is expected to consolidate in a lower range. USD/JPY is undermined by the selling of yen crosses amid the increasing risk aversion (VIX fear gauge rose 1.77% to 16.66, S&P 500 fell 0.56% to close at 1,909.57 overnight) as well as concerns over ongoing geopolitical tensions in the Middle East, and between the West and Russia over Ukraine. USD/JPY is also weighed by the lower U.S. Treasury yields and Japanese export sales. But USD/JPY losses are tempered by the demand from Japanese importers and the positive dollar sentiment (ICE spot dollar index last 81.53 versus 81.43 early Thursday) after smaller-than-expected U.S. jobless claims of 289,000 in week ended Aug. 2 (versus forecast 300,000); reports that Japan's Government Pension Investment Fund plans to increase its allocation to domestic stocks to over 20%; adjustment of positions before the weekend.

Technical comment:

The daily chart is mixed as MACD is bullish, but stochastics is falling from the overbought zone, inside-day-range pattern was completed on Thursday.

Trading recommendations:
The pair is trading below its pivot point. It is likely to trade in a lower range as far as it remains below its pivot point. Short position is recommended with the first target at 101.40. A break of this target will move the pair further downwards to 101.15. The pivot point stands at 102.15. In case the price moves in the opposite direction and bounces back from the support level, then it will moves above its pivot point. It is likely to move further to the upside. In that scenario, a long position is recommended with the first target at 102.45 and the second target at 102.75.

Resistance levels:

102.45

102.75

103

Support levels:

101.40

101.15

100.75

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Technical analysis of USD/CHF for August 8, 2014 Trend News

Overview:

USD/CHF is expected to trade with a bullish bias. It is supported by the positive dollar sentiment, franc sales on soft CHF/JPY cross, and dovish Swiss National Bank's monetary policy. But USD/CHF gains are tempered by the flows to haven CHF amid heightened geopolitical concerns over Ukraine and the Middle East as well as adjustment of positions before the weekend. The daily chart is mixed as MACD is bullish, five and 15-day moving averages are advancing but stochastics is bearish in the overbought zone.

Trading recommendations:

The pair is trading below its pivot point. It is likely to trade in a lower range as far as it remains below its pivot point. Short position is recommended with the first target at 0.9035. A break of this target will move the pair further downwards to 0.9010. The pivot point stands at 0.9085. In case the price moves in the opposite direction and bounces back from the support level, then it will moves above its pivot point. It is likely to move further to the upside. In that scenario, a long position is recommended with the first target at 0.9115 and the second target at 0.9135.

Resistance levels:

0.9115

0.9135

0.9155



Support levels:

0.9035

0.9010

0.8975

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Technical analysis of NZD/USD for August 8, 2014 Trend News

Overview:

NZD/USD is expected to trade in a lower range. It is undermined by the Kiwi sales on soft NZD/JPY cross amid the increasing investor risk aversion, the positive dollar sentiment and weak dairy prices. But NZD/USD losses are tempered by the Kiwi demand on soft AUD/NZD cross, NZD-USD interest differential, and adjustment of positions before the weekend. Kiwi is vulnerable to China July trade balance data. The daily chart is negative-biased as MACD is bearish, stochastics stays suppressed in the oversold zone; five and 15-day moving averages are declining.

Trading recommendations:
The pair is trading above its pivot point. It is likely to trade in a higher range as far as it remains above its pivot point. As long as the price is keeping above its pivot point, a long position is recommended with the first target at 0.8375 and the second target at 0.8350. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 0.8505. A break of this target would push the pair further downwards and one may expect the second target at 0.8530. The pivot point is at 0.8420.

Resistance levels:

0.8505

0.8530

0.8560

Support levels:

0.8375

0.8350

0.8315

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Technical analysis of GBP/JPY for August 8, 2014 Trend News

Overview:

GBP/JPY is expected to trade in a lower range. It is undermined by the increasing investor risk aversion and Japanese export sales. But GBP/JPY losses are tempered by the demand from Japanese importers and adjustment of positions before the weekend. The daily chart is negative-biased as MACD and stochastics are bearish, five and 15-day moving averages are declining.

Trading recommendations:
The pair is trading below its pivot point. It is likely to trade in a lower range as far as it remains below its pivot point. Short position is recommended with the first target at 170.70. A break of this target will move the pair further downwards to 170.20. The pivot point stands at 171.65. In case the price moves in the opposite direction and bounces back from the support level, then it will moves above its pivot point. It is likely to move further to the upside. In that scenario, a long position is recommended with the first target at 172 and the second target at 172.65.

Resistance levels:

172

172.65

173



Support levels:

170.70

170.20

169.85

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