EUR/NZD analysis for July 14, 2014 Trend News

Overview:

Since our previous analysis, the EUR/NZD pair has been trading sideways. We are facing a quiet day and low activity on this pair. I have placed Fibonacci expansion levels to find the second down station. I got the second down station around the level of 1.5420 (currently on the test). Be careful when buying and watch for potential selling opportunities. The third major down station (short-term) is still at the price of 1.5335 (Fibonacci expansion 161.8%). According to the 1H timeframe, we can observe buying climax and bearish reaction in higher volume, which is a sign that buying at this stage looks risky.

Daily pivot Fibonacci points:

Resistance levels:

R1: 1.5450

R2: 1.5461

R3: 1.5477

Support levels:

S1: 1.5417

S2: 1.5406

S3: 1.5389

Trading recommendation: Be careful when buying the EUR/NZD pair and watch for selling opportunities after retracement.

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Gold analysis for July 14, 2014 Trend News

Overview:

Since our last analysis, gold has been trading downwards. The price tested the level of 1,315.32 on high volume according to the 4H timeframe. According to the daily timeframe, we can observe weak demand (friday bar), which caused the price to start downward movement. I have placed Fibonacci expansion levels to find a major resistance level. Besides, I got Fiboancci expansion 61.8% at the price of 1,368.00. We are now in a bearish corrective phase, so be careful with buying. The support level is the level around the price of 1,305.00 (Fibonacci retracement 38.2%). According to the 4H timeframe, we can observe strong supply in the volume above average.

Daily pivot Fibonacci points:

Resistance levels:

R1: 1,340.46

R2: 1,340.80

R3: 1,341.33

Support levels:

S1: 1,339.40

S2: 1,339.06

S3: 1,338.53

Trading recommendation: Be careful with buying Gold since it is in a bearish corrective phase.

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Technical Analysis of GBP/USD for July 14, 2014 Trend News

The cable is trading below the hourly moving averages. The pair has resistance at the 1.7126 and 1.7132 levels. For a positional view, the cable has a strong resistance zone between 1.7167-1.7180. We recommend to safe buy only above the 1.7180 levels for an upside target at the 1.7330 levels. The cable has strong support at 1.70 levels. It will turn negative in the short run. If the pair hits the 1.70 level, it can fall up to the 1.6840 and 1.6670 levels.

For a weekly perspective, the pair has the nearest support between the 1.7080-1.7060 levels. We recommend to sell below 1.7060 for a downside target at the 1.70, 1.6950, and 1.6930 levels.

Positional -

Sell below 1.7060

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Medium term forecast of EUR/CHF for July- December 2014 Trend News

EUR/CHF

Medium term view-

The pair has been in a down trend from the 1.2649 levels. The pair has a strong support level at 1.21 and 1.1999. It has strong resistance levels at 1.2237 (20-M Sma) and 1.2342 (50-M Sma). The pair hit the 50-M Sma in September 2008 and is trading below that for six years. Until the pair close above 1.2342 levels, it will drift to lower levels again. The trading pattern is framed between the 1.1999-1.2342 levels.

The pair has a minor support at 1.2133 (July 01, low). This pair is a good example of the bearish view. It is trading below the popular moving averages in all possible time frames (monthly, weekly, and daily). It hit the ascending triangle as well. If it hits 1.2133, it can drift up to the previous low at the 1.2105 and 1.2029 levels. Until the pair trades above 1.2393, selling on the rise is the best strategy for the rest of the year.

On the upside, it has resistance at 1.2165, above this at the 1.2184 and 1.2218 levels.

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#USDX Technical analysis for July 14, 2014 Trend News

The Dollar index has broken above the short-term support but did not continue higher as it was expected. This is a weakness sign or that it is not the right time for bulls yet. The good thing for bulls though is the fact that price is above the Ichimoku cloud resistance.

Short-term resistance is found at 80.25. Short-term support is found at 80.05 and 79.95. Breaking below 79.95 will put the 79.75 lows to the test. This is something bulls do not want. Breaking above 80.25 will most probably push the index towards 80.35-80.40.

The daily chart remains supported. However, there is still something inside the Ichimoku cloud that tells me the trend is mainly neutral. The trend will change to bullish if we break above 80.40, whereas it will turn to bearish if we break below 79.75. There is no clear buy or sell signal as the price is moving mainly sideways. I prefer to wait for a strong signal before taking action. However, longer-term view remains in favor of the bulls.

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Technical Analysis of Gold for July 14, 2014 Trend News

GOLD

Gold supported by Protugal's central bank concerns moved to $1,344.70. Today, in Asia's session, the metal holds above the $1,334.60& 61.8 fib levels made a low at the $1,335.90 levels. The weekly Stochastics is indicating an overbought sign. On the weekly basis, the support levels existed at the $1,334.60 and $1,330.70 level. Until the metal holds above the $1,330 level, we can expect another up move up to the $1,360 levels.

In the daily chart, the RSI is indicating an overbought sign. Any unexpected move upwards will sustain. For the positional purpose, we recommend to sell only below $1,330 for a downside target at $1,326, $1,324 and $1,318, and $1,310 levels. We can see a strong upward move above $1,342.10 for a new target at $1,357.80 levels.

For an intraday, basis the metal is holding above 35-hr Dema of $1,335.50 breaking below it. The support levels existed at $1,333.40 (12-hr Low) $1,331 (21-Hr Sma) and $1,326 (34-hr Sma). Safe traders can sell below the $1,326 target at the $1,324, $1,323, and $1,318 levels. The hourly RSI is giving an negative sign.

Risky traders can sell below $1,331 levels.

Safe traders can sell below $1,326 levels.

Safe traders buy only above $1,342.10 levels.

Risky traders can buy above $1,340 levels.

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Monthly forecast and an intraday recommendation on EUR/USD for July 14-18, 2014 Trend News

EUR/USD

Traders will keep an eye on today's economic data about the Euro zone industrial production and the speech of Mario Draghi, the ECB president. The pair is facing strong resistance at 50 WSma at 1.3620. In Asia's session the pair is trading at 1.3599.

Monthly forecast -

The trading pattern is framed between 1.3575-1.37 for the week July 14-18. We can see the extension of the trading range. We expect the pair to hit the downside trading range at 1.3575, looking at the downside target at the 1.3215 levels. Until the pair trades below the 1.37 (monthly resistance), we recommend to sell on a rally with sl 1.3720.

On the downside, it has support at 1.3574 (weekly support), below this 1.35 (swing low), 1.3477, and 1.3420 levels. We can see heavy selling pressure below 1.3420 (200 WEma) up to 1.33 and 1.3215.

Levels to watch 1.3575 < 1.35 < 1.3477 < 1.3460< 1.3420 < 1.33 < 1.3215

For an intraday basis, the pair is trading below the hourly moving averages. The pair made an intraday high at 1.3608, rejected at 34 hr Sma and pushed down. On the down side, it has minor support at 1.3588 and major at 1.3575 levels. We recommend to sell again below 1.3575 for an open target at 1.35 and 1.3452 levels. Earlier, we recommend to sell at 1.3649 levels.

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