daily fx levels 25august
DESCRIPTION
Technical analysisTRANSCRIPT
Daily Technical Analysis LevelsDaily Technical Analysis Levelsfor 25 August 2014for 25 August 2014
Prepared by Nicola DukePrepared by Nicola Duke
Page 2 GBPUSD EURUSDPage 3 AUDUSD USDJPYPage 4 EURGBP USDCHFPage 5 USDCAD EURJPY
Page 6 Gold WTI OilPage 7 DAX S&P500
Talking-Forex is unique in that it is the only audio service in the world that is available 24 hours a day and exclusivelyfor FX traders. It is delivered by our highly skilled team of Talking-Forex analysts around the clock from Sunday
evening through to Friday evening. Every member of our team has a different market speciality and each one has anumber of years experience working for an investment bank, hedge fund or financial news agency. Most importantly Talking-Forex analysts are completely independent and neutral in their opinions.
GBPUSD After two days of sideways bearish consolidation last week (possibly bear flag) cable has broke away gap lower Sunday night into support. Traders who like bounce trades watch the price action here for a move higher to retest 1.6630-50 level.Hourly view
Resistance 1.6563 1.6630(major) 1.6650 1.666 (major)Support 1.655465, 1.6527, 1.6450-56(major) 1.6375 1.6283(major & short swing target)
EURUSD Daily view continued selling Friday followed by a bear flag into the close = bearish but has met the flag pole objective so could bounce to retest previous support before lower.Hourly view
Support 1.3156 1.3148(major) 1.3017(major)Resistance 1.3247(major) 1.3300 1.3316
AUDUSD Daily view Price action is bullish off the 9237 level but we need to get trading above 9346 to really start the party (target would be 9450) Wedge pattern trade ...Four Hourly View
Resistance 0.9328(major) 0.9348 0.9373 0.9410 0.9456Support 0.9287 0.9238 0.9208(major) 0.9133
USDJPY Daily view Friday was a hugely volatile long legged doji day and Sunday night sees us gap abovethose extreme highs. If you are not already long hard to buy here without some good consolidating first. 103.09 should be good support on any retest. Don't fight the trend (for now)Four Hourly View
Supports 103.75(major) 103.45 103.06 Resistance 104.03(major) 104.70 104.88
EURGBP Daily view – continued sideways consolidation still bodes well for EURGBP longs. Has gapped lower to very good support at 7970 to buy or bull flag could see another leg lower to 0.7949 to buy and a close below that means my bullish view is wrong.4 hour chart view
Support 0.7974-80(major) 0.7949-54 0.7930-34Resistance 0.7997 0.8035(major) 0.8074(major)
USDCHF Daily view. Bull flag pattern broke higher and Sunday night open gap even higher.Bull flag pattern projects 0.93Four Hourly chart view
Supports 0.9270-80 0.93(major) Resistance 0.9146(major) 0.9156(2014high) 0.9175-80(major)
USDCAD Daily View inside day and no follow through on the triple top off good level 1.0982Hard to say sell this when the US dollar is so strong against everything else … Patience needed.For Monday 10970-73 should hold as resistance to sell.Four Hourly view
Support 1.0918-21 1.0870 1.0844-50 1.0804 (major)Resistance 1.0970-3 109.85 1.1026 1.1055 1.1135 1.1188-1.1200(major)
EURJPY Double topped at 1.38 needs confirmation. No daily trend change to bullish below 1.38Four Hourly view
Supports 137.42 137.10 136.84Resistance 137.70 138.00 138.24 (2009 triple top)
GOLD Daily view – bearish day into support area which was Jan high and March/April lows. A good level to buy off if the dollar rally slows. However buyers beware the wedge pattern line from Jan lows is a bit lower … Hourly price action is a wedge which is very tradeable hereHourly Hour view
Resistance 1292 1296 1307(major)Supports 1278 1278(major) 1268 1265 1238(major)
OIL US WTI crude Daily View – bearish inside day after support at 92.70 meant a close close to the weekly lows. Oversold but 95.00 & 95.23 looks like good areas to reload shorts for 91.60 Good level for bounce longs but not a good enough level for swing longs yet.Hourly chart – wedge
Support 93.11 92.77 91.50(major) 91.23(Jan low)Resistance is at 95.00-25 95.90 96.50 97.35 99.00-99.30(major) 99.80
DAX Daily view – we broke above the 38.2fib 9335 resistance and this should now be support for a move to 9475 (50% retracement)Four Hourly view
Support at 9250 9175(major) 9086 9050(major) 8909Resistance 9338-50(major) 9411 9473(major)
S&P Daily view – At new highs! The pattern in the S&P seems to be to make marginal new highs thensell off hard before continuing higher. Be ready! Watching the price action and the rising wedgeFour Hourly view
Resistance 1993 2000-01 2017(major)Support 1991 1980-83(major), 1978 1950 1944(major) 1930
---------------------------------