daily forex technical analysis report – 17 04-2014

Please do not print this report unless it is absolutely necessary. Save a tree. Date: 17/04/2014

www.sevenstarfx.com

MARKET WATCH A leading online forex broker that offers

most constructive updates about forex market that helps you to recognize right possibilities to make profit. Get daily updates of market watch about Metals like Gold, Silver, Copper, Energy, and Foreign Currencies like Euro, Great Britain Pound, USD and many more…

Daily Technical Analysis Report


www.sevenstarfx.com

GOLD ST Trend Down RANGE REVERSAL 26.16

SWING POINT 1308.80 SWING TARGET 1261.70

JUNE FUTURE LEVEL1 LEVEL2 LEVEL3

RESISTANCES 1310.60 1311.99 -

SUPPORTS 1292.61 1276.65 -

Comment : 1* The directional selloff shows a strong probability for a corrective rebound

today above 1311.99. 2* The downside objectives for this formation range from 1261.70 to

1260.10 with a close over 1316.92 needed to negate a bear trading stance. 3* Market is within

proximity of this week's projected support range of 1268.20-1284.74, which may provide a

likely zone for bottoming action or rebounds.

SILVER ST Trend Down RANGE

REVERSAL 62.75


MAY FUTURE LEVEL1 LEVEL2 LEVEL3

RESISTANCES 19.8534 1989.04 -

SUPPORTS 19.3975 19.1400 -

Comment: 1* The downside objectives for this formation range from 1888.50 to 1863.50 with a

close over 1982.87 needed to negate a bear trading stance. 2* Market is within proximity of

this week's projected resistance range of 2020.62- 1981.00, which may provide a likely zone

for topping action or setbacks.

COPPER ST Trend Neutral RANGE

REVERSAL 8.10

SWING POINT 3.0721 SWING TARGET None


RESISTANCES 3.0524 3.0925 -

SUPPORTS 2.9965 2.9855 -

Commodities | Precious - Metals


www.sevenstarfx.com

Comment: 1* Market is challenging a previous daily swing high and may attempt a breakout.

Closing beyond 307.40 calls for continuation rallies. A failure around 307.40 cautions for a

reactionary setback. 2* Market is within proximity of this week's projected resistance range of

307.73-304.40, which may provide a likely zone for topping action or setbacks.


www.sevenstarfx.com

CRUDE OIL ST Trend Up RANGE

REVERSAL 1.87



RESISTANCES 104.54 105.00

-

SUPPORTS 103.06 102.88 -

Comment: 1* Market showing a preliminary breakout over a previous weekly swing high

and needs to quickly extend rallies into a close beyond 104.48. Failure to extend the breakout

today-tomorrow alerts for a bull failure. A close under 101.94 helps confirm a breakout

failure. 2* Yesterday's failed test over the (104.48) swing high and weak close alerts for a

reversal selloff the next 1-2 days and chance for larger trend turn barring a penetration over

104.99 or close over 104.48. Overbought adds a strong bias for corrections with this signal. 3*

Yesterday's range reversal alerts for a turnaround in the trend and suggests follow-through

selloffs the next 1-3 days and could highlight a larger trend directional change. Only a close

over 103.83 negates the turning signal. 4* The upside target zone for this pattern is from

106.03 to 106.19 with a close under 103.70 needed to negate a bull trading stance. 5* Market is

within proximity of this week's projected resistance range of 105.82-104.57, which may

provide a likely zone for topping action or setbacks.

NATURAL GAS ST Trend Up RANGE

REVERSAL 1.42




SUPPORTS 4.470 4.460 -

Comment: 1* Market is within proximity of this week's projected resistance range of 47.09-45.56,

which may provide a likely zone for topping action or setbacks.

Commodities | ENERGY


www.sevenstarfx.com

MINI S&P ST Trend Down RANGE

REVERSAL 28.62



RESISTANCES 1864.01 1870.95 -

SUPPORTS 1842.34 1836.16 -

Comment: 1* Yesterday's retracement against the outside day 4 days ago hurts reliability for

bear follow-through moves. 2* Market is challenging a previous daily swing high and may

attempt a breakout. Closing beyond 1867.10 calls for continuation rallies. A failure around

1867.10 cautions for a reactionary setback. 3* Yesterday's close has penetrated above a key

(1842.84) resistance point, implying a trend turn and follow-through moves in coming days.

4* Market is within proximity of this week's projected support range of 1822.70-1844.70,

which may provide a likely zone for bottoming action or rebounds.

MINI DOW ST Trend Down RANGE REVERSAL 2.35

SWING POINT 16386 SWING TARGET 15863


RESISTANCES 16430 16492 -

SUPPORTS 16247 16199 -

Comment : 1* Yesterday's retracement against the outside day 4 days ago hurts reliability for

bear follow-through moves. 2* Market is challenging a previous daily swing high and may

attempt a breakout. Closing beyond 163.84 calls for continuation rallies. A failure around

163.84 cautions for a reactionary setback. 3* Yesterday's close has penetrated above a key

(163.09) resistance point, implying a trend turn and follow-through moves in coming days. 4*

Market is within proximity of this week's projected resistance range of 166.07-164.83, which

may provide a likely zone for topping action or setbacks.

T Bonds | INDICES


www.sevenstarfx.com

MINI NASDAQ ST Trend Down RANGE

REVERSAL 78.81



RESISTANCES 3529.53 3536.50 -

SUPPORTS 3467.24 3448.45 -


close over 3553.66 needed to negate a bear trading stance. 2* Market is within proximity of this

week's projected support range of 3428.88- 3464.58, which may provide a likely zone for

bottoming action or rebounds.


www.sevenstarfx.com

SOYBEANS ST Trend Up RANGE

REVERSAL 28.75


JULY FUTURE LEVEL1 LEVEL2 LEVEL3

RESISTANCES 1523.74 1535.13 -

SUPPORTS 1499.28 1496.88 -

Comment: 1* Historical analysis of this minor swing pattern shows a definite bullish bias for

today's action, with the odds of this market taking out yesterday's high in the next two

trading sessions around 71 percent. 2* Yesterday's close signals breakout over a previous

daily swing high and should prompt continuation rallies the next 1-3 days. Sustained trade

over the previous high will help motivate rallies. Corrections should not close below 1484.88

to maintain the breakout. 3* We have currently achieved the initial swing objective of 1491.75,

and could penetrate the top end of the target zone (1535.75) shortly. A close under 1469.37 is

needed to negate a bull trading stance. 4* Market is within proximity of this week's projected

resistance range of 1556.67-1532.76, which may provide a likely zone for topping action or

setbacks.

SOYMEAL ST Trend Up RANGE

REVERSAL 9.20


JULY FUTURE LEVE1 LEVEL2 LEVEL3


SUPPORTS 476.57 475.95 -

Comment: 1* Market showing a breakout over a previous contract high and should quickly

extend rallies. Failure to extend the breakout now alerts for a bull failure. A close back under

473.79 signals a breakout failure and turnaround. 2* Historical analysis of this minor swing

pattern shows a definite bullish bias for today's action, with the odds of this market taking

out yesterday's high in the next two trading sessions around 71 percent. 3* Yesterday's close

signals breakout over a previous daily swing high and should prompt continuation rallies the

next 1-3 days. Sustained trade over the previous high will help motivate rallies. Corrections

Commodities | GRAINS


www.sevenstarfx.com

should not close below 473.79 to maintain the breakout. 4* We have currently achieved the

initial swing objective of 479.70, and could penetrate the top end of the target zone (495.60)

shortly. A close under 469.21 is needed to negate a bull trading stance. 5* Market is within

proximity of this week's projected support range of 472.56-478.50, which may provide a likely

zone for bottoming action or rebounds.

SOYBEAN OIL ST Trend Up RANGE

REVERSAL 1.21




SUPPORTS 43.56 43.49 -

Comment: 1* Historical analysis of this minor swing pattern shows a definite bullish bias for

today's action, with the odds of this market taking out yesterday's high in the next two trading

sessions around 71 percent. 2* Yesterday's close signals breakout over a previous daily swing

high and should prompt continuation rallies the next 1-3 days. Sustained trade over the

previous high will help motivate rallies. Corrections should not close below 43.21 to maintain

the breakout. 3* We have currently achieved the initial swing objective of 43.85, and could

penetrate the top end of the target zone (44.31) shortly. A close under 42.75 is needed to negate

a bull trading stance. 4* Market is within proximity of this week's projected resistance range of



www.sevenstarfx.com

WHEAT ST Trend Up RANGE

REVERSAL 28.50




SUPPORTS 685.41 676.25 -

Comment : 1* The upside target zone for this pattern is from 726.75 to 745.50 with a close

under 684.57 needed to negate a bull trading stance. 2* Market is within proximity of this

week's projected resistance range of 738.00-709.66, which may provide a likely zone for

topping action or setbacks. 3* Yesterday's penetration of support range levels gives a

statistical bias for declines today-tomorrow.

CORN ST Trend Neutral RANGE

REVERSAL 11.90




SUPPORTS 498.01 494.75 -

Comment: 1* Market is challenging a previous daily swing low and may attempt a breakout.

Closing beyond 499.75 calls for continuation selloffs. A failure around 499.75 cautions for a

reactionary rebound. 2* Market is within proximity of this week's projected support range of

494.79-502.50, which may provide a likely zone for bottoming action or rebounds.


www.sevenstarfx.com

SUGAR ST Trend Up RANGE

REVERSAL 0.51




SUPPORTS 17.50 17.45 -

Comment: 1* Market showing a preliminary breakout over a previous daily swing high and

needs to quickly extend rallies into a close beyond 17.93. Failure to extend the breakout

today-tomorrow alerts for a bull failure. A close under 17.68 helps confirm a breakout failure.

2* Yesterday's range reversal alerts for a turnaround in the trend and suggests follow through

selloffs the next 1-3 days and could highlight a larger trend directional change. Only a close

over 17.63 negates the turning signal. 3* Market is challenging a previous daily swing high

and may attempt a breakout. Closing beyond 17.93 calls for continuation rallies. A failure

around 17.93 cautions for a reactionary setback. 4* The upside target zone for this pattern is

from 18.31 to 18.62 with a close under 17.51 needed to negate a bull trading stance. 5* Market

is within proximity of this week's projected resistance range of 18.20-17.80, which may

provide a likely zone for topping action or setbacks. 6* The penetration of the recent 17.86

inside day high provides a bull trend signal.

COFFEE ST Trend Down RANGE

REVERSAL 14.75




SUPPORTS 184.28 179.13 -

Comment : 1* Market showing a breakout under a previous daily swing low and should

quickly extend selloffs. Failure to extend the breakout now alerts for a bear failure. A close

back over 196.71 signals a breakout failure and turnaround. 2* Yesterday's close signals

breakout under a previous daily swing low and should prompt continuation selloffs the next

1-3 days. Sustained trade under the previous low will help motivate selloffs. Corrections

Commodities | SOFTS


www.sevenstarfx.com

should not close above 196.71 to maintain the breakout. 3* We have currently traded below

the first swing target for this market (193.60). The next objective is 179.00. A close over 201.79

is needed to negate a bear trading stance. 4* Market is within proximity of this week's

projected resistance range of 203.98-194.70, which may provide a likely zone for topping

action or setbacks.

COCOA ST Trend Down RANGE

REVERSAL 0.47



RESISTANCES 2994.00 2997.00 -

SUPPORTS 2951.00 2948.00 -

Comment: 1* The downside objectives for this formation range from 29.54 to 29.35 with a close

over 29.95 needed to negate a bear trading stance. 2* Market is within proximity of this week's

projected resistance range of 30.24-29.86, which may provide a likely zone for topping action or

setbacks.


www.sevenstarfx.com

COTTON ST Trend Neutral RANGE

REVERSAL 2.33




SUPPORTS 91.81 91.58 -

Comment: 1* Market is challenging a previous daily swing high and may attempt a breakout.


reactionary setback. 2* Market is within proximity of this week's projected resistance range of



www.sevenstarfx.com

EURO ST Trend Up RANGE

REVERSAL 0.76




SUPPORTS 1.3785 1.3778 -

Comment : 1* The upside target zone for this pattern is from 140.19 to 140.21 with a close

under 138.11 needed to negate a bull trading stance. 2* Market is within proximity of this

week's projected resistance range of 139.21-138.19, which may provide a likely zone for

topping action or setbacks.

B POUND ST Trend Up RANGE

REVERSAL 1.04




SUPPORTS 1.6753 1.6741 -

Comment: 1* Market showing a preliminary breakout over a previous weekly swing high

and needs to quickly extend rallies into a close beyond 168.05. Failure to extend the breakout

today-tomorrow alerts for a bull failure. A close under 166.78 helps confirm a breakout

failure. 2* The market is following a bull channel. A close over 168.81 or rally beyond 169.13

today signals a breakout and acceleration up from the channel. An upside channel breakout

may not show rallies the next day, but carries a strong bias for advances in the coming 2-5

days. A close under 166.42 or drop under 166.09 today signals a downturn from the bull

channel. 3* Market is challenging a previous daily swing high and may attempt a breakout.


reactionary setback. 4* The upside target zone for this pattern is from 169.07 to 169.84 with a

close under 167.07 needed to negate a bull trading stance. 5* Market is within proximity of

this week's projected resistance range of 169.15-167.97, which may provide a likely zone for

topping action or setbacks.

Forex | CURRENCIES


www.sevenstarfx.com

J YEN ST Trend Down RANGE

REVERSAL 0.74




SUPPORTS 0.9746 0.9730 -

Comment: 1* We have currently traded below the first swing target for this market (97.89). The

next objective is 97.56. A close over 98.24 is needed to negate a bear trading stance. 2* Market is

within proximity of this week's projected resistance range of 98.82-97.98, which may provide a

likely zone for topping action or setbacks. 3* The penetration of the recent 97.93 inside day low

provides a bear trend signal.


www.sevenstarfx.com

AUSSIE$ ST Trend Down RANGE

REVERSAL 0.77




SUPPORTS 0.9315 0.9299 -



week's projected resistance range of 94.67-93.75, which may provide a likely zone for topping

action or setbacks.

CANADIAN$ ST Trend Down RANGE REVERSAL 0.64




SUPPORTS 0.9037 0.9021 -



week's projected resistance range of 91.61-90.84, which may provide a likely zone for topping

action or setbacks.

SWISS FRANC ST Trend Up RANGE

REVERSAL 0.73




SUPPORTS 1.1316 1.1306 -

Comment: 1* The upside target zone for this pattern is from 115.60 to 115.90 with a close under

112.75 needed to negate a bull trading stance. 2* Market is within proximity of this week's

projected resistance range of 114.64-113.51, which may provide a likely zone for topping action


www.sevenstarfx.com

or setbacks. 3* Yesterday's penetration of support range levels gives a statistical bias for declines

today-tomorrow.

Disclaimer: This Report Is only for General Information. Opinions/Estimates Contained Herein is Subject to

Change without Notice. The Data/Information Herein Provided Is Believed to Be Reliable But Does Not Warrant

for Its Accuracy/Completeness. We are Not Liable for Any Action Taken by Any Party Based on the above

Information. This Material Is Not Intended As An Offer Or Solicitation for the Purchase or Sale of Any Financial

Instrument.


www.sevenstarfx.com

daily forex technical analysis report – 17 04-2014

Business

swing target

swing point

formation range

weeks projected support

previous daily swing

forex market

yesterdays close

gold st trend