Technical analysis of EUR/JPY for July 17, 2014 Trend News

EUR/JPY

The pair drifts to a five-month low trading at 137.37 levels.

In the weekly chart, the pair has hit the 50 WSma and trading below that.

In the daily chart, the pair is trading below the daily, weekly, and medium-term moving averages.

On the down side, the pair's support is at 137 and 136.20 levels. If the euro hits the 136.20 level, gates will be open for a steep fall to 135.50, 132.40, and 131.20 levels. The weekly RSI is traveling to the South.

For the hourly trading purpose, the pair is trading below the hourly moving averages. The pair has resistance at 137.70, 137.95 and 138.05 levels. The hourly momentum oscillators are indicating oversold signs. Until the pair trades above 139.25, we can expect 136.87 on the down side.

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Technical analysis of EUR/USD for July 17, 2014 Trend News

When the European market opens, some economic news will be released such as CPI y/y, Core CPI y/y, Spanish 10-y Bond Auction. The US will release the economic data too such as the Building Permits, Unemployment Claims, Housing Starts, Philly Fed Manufacturing Index, Natural Gas Storage, so amid the reports, EUR/USD will move with low to medium volatility during this day.

TODAY's TECHNICAL LEVELS:

Breakout BUY Level: 1.3592.

Strong Resistance:1.3584.

Original Resistance: 1.3571.

Inner Sell Area: 1.3558.

Target Inner Area: 1.3526.

Inner Buy Area: 1.3494.

Original Support: 1.3481.

Strong Support: 1.3468.

Breakout SELL Level: 1.3460.

DESCRIPTION:

Today EUR/USD has support and resistance at 1.3481 and 1.3571. The rate is accompanied by strong support at 1.3468 and by 1.3584 as strong resistance. If EUR/USD breaks out and closes below the 1.3460 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3592 level, then it will denote high bullish strength. Alternatively, for advance traders, you can trade in a way to open a BUY position at the level of 1.3494 and at 1.3558, a SELL position. In this case both targets should be placed at the level of 1.3526. Disclaimer:
Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

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Technical analysis of USD/JPY for July 17, 2014 Trend News

In Asia, Japan will not release any economic data, but the US will release some economic data such as Building Permits, Unemployment Claims, Housing Starts, Philly Fed Manufacturing Index, Natural Gas Storage. So there is a big probability the USD/JPY will move with low volatility during the Asian session, but with low to medium volatility during the US session.

TODAY's TECHNICAL LEVELS:

Resistance. 3: 102.11.

Resistance. 2: 101.91.

Resistance. 1: 101.71.

Support. 1: 101.47.

Support. 2: 101.27.

Support. 3: 101.07. DESCRIPTION:

Please, pay attention to the levels of support 3 (101.07) and resistance 3 (102.11). Normally, when a level is touched, USD/JPY will rebound from the previous minimum by 10 to 20 pips, but if the levels are broken through by over 50 pips, then it will be a sign that these currencies have found trends today.

Disclaimer:
Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

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Technical analysis of GOLD for July 17, 2014 Trend News

The yellow metal holds support at 50 DSma at $1,291.40 levels and trading above it. The pair has resistance at $1,311-$1,3$1,3.50. For the short term basis, if the metal closes below $1,291, it can extend its fall up to $1,286, $1,284 and $1,280 levels. On the north side, it has resistance at $1,302.50 (30 DSma), above this, $1,311 (200DEma) and $1,3$1,3.50 will act as a major resistance level.

Supports $1,291, $1,286.

Resistance $1,303.50, $1,305.

For an intraday basis, the metal is slowly moving up towards the initial resistance level at $1,303.50 35HDema above this it can fly up to $1,307.75 (21HSma), $1,311, $1,313.40, and $1,317.50. Until the pair trades below $1,317.50 (34HSma), bears have an upper hand. The hourly RSI is indicating an oversold levels.

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Technical analysis of GBP/JPY for July 17, 2014 Trend News

GBP/JPY

The pair gave a symmetric triangle breakout, made a high at 175.35 (double top). The pair started correction and held at the breakout level. Currently, the pair is holding above the 30 DSma. The pair has support at 173.44 (30 DSma), 172.90 (breakout level) and 172.36 (50 DSma). For the near term the trading range is framed between 173.26-175.35 levels. On the down side, if the pair closes below 173.26, it can drift up to 172.56 which is strong support for the near and medium term. If a day close below 172.56, the near term turns to negative towards 171.80 170.95 levels. On an upside, if the pair manages to breach the double top at 175.35 we can see 178.80 (138% fib level).

Note-

The near term turns to negative towards 171.80, 170.95 levels, if it closes below 172.50.

Fresh buy above 175.50 for targets 178.80.

On an hourly basis, the pair is trading above the hourly moving averages. The pair has support at 174, 173.88, 173.80. Below 173.80 the pair looks weak for a downside target 173.55 and 173.26 levels.

Sell below 173.80.

Buy above 174.55.

Strong momentum is only above 176 for targets 178.80.

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Daily analysis of GBP/USD for July 17, 2014 Trend News

Daily chart: The GBP/USD remains in the bullish trend without major changes, because this pair has tried to make a breakout on the resistance level of 1.7169 but has not succeeded. If the pair manages to consolidate above this level, the next target would be the level of 1.7290. However, it is likely that the GBP/USD will make a pullback at current levels. The MACD indicator is in negative territory.

H4 chart: This pair made a rebound on the support level of 1.7062, which is close to the 200-day moving average, so GBP/USD is likely to try a breakout at the 1.7180 level, because this pair is forming a lower high pattern. GBP/USD remains bullish while above the 200 SMA. The MACD indicator is entering neutral territory.

H1 chart: The GBP/USD has moved sideways during the last hours, above the 200 SMA. Now this pair is trying to consolidate above the resistance level of 1.7150, which has been shown to be a strong level. However, it is likely that the GBP/USD will fall to the support level of 1.7100. The MACD indicator is in neutral 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 1.7150, take profit is at 1.7200, and stop loss is at 1.7100.

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Technical analysis of EUR/USD for July 17, 2014 Trend News

EUR/USD

The US dollar continued its rally due to Federal Chairwoman Yellen testimony. The EUR/USD pair continues sliding to the previous swing low at 1.35 levels. A break below 1.35 will trigger many sl and we can see a panic situation with an intermediate support at 1.3477 levels. On the down side, the pair has strong support at 1.35, 1.3477 and 1.3420 (weekly 200S/Ema). On the upside, it has strong resistance at 1.37 (monthly resistance). As we recommended earlier (to sell at 1.3646 with a target at 1.3525), yesterday it was completed. The pair made a low at 1.3520 levels.

Support: 1.35, 1.3477, 1.3420/1.34.

Resistance: 1.3651, 1.37.

A free fall mode will trigger below 1.34 (50MSma) for a downside target at 1.3220 levels. The weekly and monthly momentum oscillators are indicating a sell mode. So, the short-term outlook favors bears until it breaches the 1.37 levels. The pair is trying to hold the weekly support trend line, if it breaches, it can damage more in next few weeks.

The hourly momentum oscillators are indicating an oversold level, expecting the previous support to hold for a while between 1.3520-1.35 levels. The pair has strong resistance at 1.3560 and 1.3575 levels. Until the pair trades below the following levels, bears will mint the money.

35 DEma 1.3560.

Hourly trend reversal 1.3575.

34 HSma 1.3597.

21 HSma 1.3584.

Wait for an up move and sell again, below 1.35 more weaknesses. Until the pair trades above 1.3575, we are expecting 1.3525 and 1.3452 (1.3525 done).

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