Daily analysis of GBP/USD for July 04, 2014 Trend News

Daily chart: The GBP/USD has made a pullback on the resistance level of 1.7169, so this pair forming a bullish pattern continues below this level. If GBP/USD manages to make a breakout at the level of 1.7150, it's expected to fall to the support level of 1.7000. The MACD indicator is in positive territory.

H4 chart: This pair has found support on the bullish trend line that is near to the 1.7140 level, so it is very likely that the GBP/USD will attempt to climb to the level of 1.7250. If GBP/USD manages to make a bullish breakout in the trend line, it is expected to fall to the level of 1.7062. The MACD indicator is in negative territory.

H1 chart: The GBP/USD has found support on the point of control that is close to the level of 1.7135, so the bullish outlook remains valid for this pair. If GBP/USD manages to make a breakout in the support level of 1.7150, it's expected to fall to the level of 1.7100. The MACD indicator is in positive territory.

Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is at 1.7200, take profit is at 1.7250, and stop loss is at 1.7150.

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Technical analysis of Crude for July 04, 2014 Trend News

CRUDE-

The oil took support at 103.67 levels (12 hr low). The oil is trading below the hourly moving averages. The hourly momentum oscillators are indicating an oversold sign. The trading pattern is framed between 103.67-104.36. We recommend to buy above 104.36 for 104.80, 105.15 and 105.50 and sell below 103.40 for targets 102.80 and 102.60 levels. If the price stays above yesterday's high at 104.30, we can see some pull back up to 105.60 levels.

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Technical analysis of Silver for July 04, 2014 Trend News

Technical outlook and chart setups:

1. Silver is trading around $21.10 levels for now and has probably resumed pullback/retracement towards $20.00 and $19.65 levels. Please note that the metal would remain supported at the back side of the resistance line for now. Recommendations are to remain short, risk remains above $21.50/60.

2. Support is seen at $20.00 (fibonacci), followed by $19.50, $19.00, $18.60 and lower while resistance is seen at $21.70, followed by $22.30 and higher up.

3. The structure indicates that Silver remains vulnerable for a corrective dip which seems to be begun yesterday. $21.30 remains intermediary top.

Trading recommendations:

Remain short, stop at $21.50/60, target is $19.60.

Good luck!

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Technical analysis of Gold for July 04, 2014 Trend News

Technical outlook and chart setups:

1. Gold has probably resumed its pullback/retracement towards $1,290.00/80.00 levels yesterday. It looks like the metal has formed an intermediary top around $1,330.00 mark and next move is lower. Recommendations are to remain short for now, while risk remains above $1,340.00 to be on the safer side.

2. Support is seen at $1,280.00 (fibonacci), followed by $1,260.00, $1,240.00, $1,230, $1,210.00 and lower while resistance is seen at $1,350.00/60.00, followed by $1,388.00 and higher up respectively.

3. The structure indicates that Gold retracement is on for now, targeting $1,280.00 levels at least.

Trading recommendations:

In the short and medium term, go short, stop at $1,340.00, target is at $1,280.00/90.00.

Good luck!

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Technical analysis of GBP/CHF for July 04, 2014 Trend News

Technical outlook and chart setups:

1. The GBP/CHF pair bounced off the fibonacci 0.382 support levels and printed fresh highs around 1.5330 levels. Immediate upside is still seen around the 1.5410/20 mark as seen here; before the pair could produce a meaningful bounce.

2. Support is seen at 1.5140, followed by 1.4950, 1.4900, 1.4780 and lower, while resistance is seen at 1.5410/20 levels respectively.

3. The structure indicates that the GBP/CHF pair could still push higher towards 1.5410/20 levels.

Trading recommendations:

Remain flat for now. Buy on dips utill prices are above 1.5150.

Good luck!

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Technical analysis of NZD/USD for July 03, 2014 Trend News

Overview:

NZD/USD is expected to consolidate as markets await U.S. non-farm payrolls report. NZD/USD is supported by the Kiwi demand on soft AUD/NZD cross, Kiwi demand on NZD/JPY cross amid positive investor risk appetite, hawkish Reserve Bank of New Zealand's monetary policy stance and NZD-USD interest differential. But NZD/USD gains are tempered by the positive USD sentiment. Daily chart is still positive-biased as MACD is bullish, stochastics stays elevated at overbought zone, five- and 15-day moving averages are advancing.

Trading recommendation:
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 far as the price is above its pivot point, a long position is recommended with the first target at 0.88 and the second target at 0.8835. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 0.87. A breach of this target would push the pair further downwards and one may expect the second target at 0.8680. The pivot point is at 0.8740.

Resistance levels:

0.8800

0.8835

0.8860

Support levels:

0.87

0.8680

0.8655

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Technical analysis of GBPJPY for July 03, 2014 Trend News

Overview:

GBP/JPY is expected to consolidate in a higher range as markets await U.S. non-farm payrolls report. GBP/JPY is supported by the positive investor risk appetite and demand from the Japanese importers. But GBP/JPY gains are tempered by Japan's exporter sales. Daily chart is positive-biased as MACD and stochastics are bullish, five and 15-day moving averages are rising.

Trading recommendation:
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 far as the price is above its pivot point, a long position is recommended with the first target at 175.80 and the second target at 176.15. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 173.70. A breach of this target would push the pair further downwards and one may expect the second target at 173.30. The pivot point is at 173.70.

Resistance levels:

175.80

176.15

176.65

Support levels:

173.70

173.30

174.85

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