Technical analysis of USD/CHF for January 14, 2014
The USD/CHF pair will set below the strong resistance at the level of 0.9066. Equally important, the price is still trapped between 0.9033 and 0.8977 as well as it has still been below 38.2% of Fibonacci retracement levels in H1 chart of the last week. As a result the price has already formed a strong resistance at this level of 0.9066 and it is now approaching it in order to test it. Therefore, the Swissy will get a downside momentum rather convincing and the structure of the fall does not look corrective, for indicating a bearish opportunity below the 0.9066 level for that it will a good sign to sell below 0.9066 with a first target of 0.8980 (this level is coinciding with the weekly pivot point for January 14 - 17, 2013) and it will call for downtrend in order to continue bearish towards 0.8933. Additionally, it also have to note that the price at 0.0.8933 will possibly form a strong support this week. So it will be saturation around 0.8930 to rebound the USD/CHF pair.
Technical analysis of EUR/USD for January 14, 2014
When the European market opens, some economic news will be released such as? German WPI m/m, French CPI m/m, Industrial Production m/m.The US will release economic data such as the US-Retail Sales m/m, US-Business Inventories m/m, so amid the reports, EUR/USD will move with moderate volatility during this day.
TODAY's TECHNICAL LEVELS:
Breakout BUY Level: 1.3737.
Strong Resistance:1.3728.
Original Resistance: 1.3715.
Inner Sell Area: 1.3702.
Target Inner Area: 1.3669.
Inner Buy Area: 1.3636.
Original Support: 1.3623.
Strong Support: 1.3610.
Breakout SELL Level: 1.3601.
DESCRIPTION:
Today EUR/USD has support and resistance at 1.3623 and 1.3715. The rate is accompanied by strong support at 1.3610 and by 1.3728 as strong resistance.
If EUR/USD breaks out and closes below the 1.3601 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3601 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 1.3636 and at 1.3702, a SELL position. In this case both targets should be placed at the level of 1.3669.
Technical analysis of EUR/JPY for January 14, 2014.
Technical outlook and chart setups:
1. EUR/JPY stopped us out at 141.00 yesterday; nonetheless, the setup still favors counter trend rally towards 143.50/75 at least. Aggressive trade setup would still be to initiate long positions with risk at 140.00, while conservative approach would remain flat for now.
2. Immediate resistance is at 143.00, followed by 145.50, while supports are spread through 140.50 (intermediary), followed by 138.50, 134.00 and lower.
3. Structure reveals that the fall from 145.50 is in 5 steps, hence according to Elliot Theory a 3 wave correction is possible towards 143.50/70, before continuing further down.
Trading recommendations:
Go long, stop is at 140.00, target is 143.70.
Good luck!
Daily analysis of the GBP/USD January 14, 2014
Daily chart: GBP/USD was a profound drop below the resistance level of 1.6447. It is now very likely, this pair to fall to 1.6326 support level. If you pair this level, expect to fall to 1.6235. Now, the GBP/USD is to form a higher low sample, so most likely will continue to fall. However, our outlook remains bullish in the medium term. The MACD indicator is in negative territory.
The H4 chart: this couple has made a bullish rebound over 200 SMA and, now, the GBP/USD is facing resistance in the bullish trend line near 1.6395 level. If the couple manages to break this level is expected to rise to 1.6435 level. In addition, if the couple take a break from the support level is expected to fall to the level of 1.6336 1.6292. The MACD indicator is still in negative territory.
The H1 chart: GBP/USD has become a point of scrutiny under a support level, that gives strength to the couple perform 1.6375 bullish rebounds. It is very likely that this pair goes up the resistance level 1.6419. If you pair this level is expected to rise to a level above 200 1.6464, which would be the consolidation of the SMA. The MACD indicator is still positive.
Trading recommendations today: H1 chart orders buy (long) if the EUR/USD pair breaks a bullish candlestick; the resistance level 1.6419, take profit and stop loss is at 1.6464 1.6375.
The USD/CHF pair will set below the strong resistance at the level of 0.9066. Equally important, the price is still trapped between 0.9033 and 0.8977 as well as it has still been below 38.2% of Fibonacci retracement levels in H1 chart of the last week. As a result the price has already formed a strong resistance at this level of 0.9066 and it is now approaching it in order to test it. Therefore, the Swissy will get a downside momentum rather convincing and the structure of the fall does not look corrective, for indicating a bearish opportunity below the 0.9066 level for that it will a good sign to sell below 0.9066 with a first target of 0.8980 (this level is coinciding with the weekly pivot point for January 14 - 17, 2013) and it will call for downtrend in order to continue bearish towards 0.8933. Additionally, it also have to note that the price at 0.0.8933 will possibly form a strong support this week. So it will be saturation around 0.8930 to rebound the USD/CHF pair.
Technical analysis of EUR/USD for January 14, 2014
When the European market opens, some economic news will be released such as? German WPI m/m, French CPI m/m, Industrial Production m/m.The US will release economic data such as the US-Retail Sales m/m, US-Business Inventories m/m, so amid the reports, EUR/USD will move with moderate volatility during this day.
TODAY's TECHNICAL LEVELS:
Breakout BUY Level: 1.3737.
Strong Resistance:1.3728.
Original Resistance: 1.3715.
Inner Sell Area: 1.3702.
Target Inner Area: 1.3669.
Inner Buy Area: 1.3636.
Original Support: 1.3623.
Strong Support: 1.3610.
Breakout SELL Level: 1.3601.
DESCRIPTION:
Today EUR/USD has support and resistance at 1.3623 and 1.3715. The rate is accompanied by strong support at 1.3610 and by 1.3728 as strong resistance.
If EUR/USD breaks out and closes below the 1.3601 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3601 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 1.3636 and at 1.3702, a SELL position. In this case both targets should be placed at the level of 1.3669.
Technical analysis of EUR/JPY for January 14, 2014.
Technical outlook and chart setups:
1. EUR/JPY stopped us out at 141.00 yesterday; nonetheless, the setup still favors counter trend rally towards 143.50/75 at least. Aggressive trade setup would still be to initiate long positions with risk at 140.00, while conservative approach would remain flat for now.
2. Immediate resistance is at 143.00, followed by 145.50, while supports are spread through 140.50 (intermediary), followed by 138.50, 134.00 and lower.
3. Structure reveals that the fall from 145.50 is in 5 steps, hence according to Elliot Theory a 3 wave correction is possible towards 143.50/70, before continuing further down.
Trading recommendations:
Go long, stop is at 140.00, target is 143.70.
Good luck!
Daily analysis of the GBP/USD January 14, 2014
Daily chart: GBP/USD was a profound drop below the resistance level of 1.6447. It is now very likely, this pair to fall to 1.6326 support level. If you pair this level, expect to fall to 1.6235. Now, the GBP/USD is to form a higher low sample, so most likely will continue to fall. However, our outlook remains bullish in the medium term. The MACD indicator is in negative territory.
The H4 chart: this couple has made a bullish rebound over 200 SMA and, now, the GBP/USD is facing resistance in the bullish trend line near 1.6395 level. If the couple manages to break this level is expected to rise to 1.6435 level. In addition, if the couple take a break from the support level is expected to fall to the level of 1.6336 1.6292. The MACD indicator is still in negative territory.
The H1 chart: GBP/USD has become a point of scrutiny under a support level, that gives strength to the couple perform 1.6375 bullish rebounds. It is very likely that this pair goes up the resistance level 1.6419. If you pair this level is expected to rise to a level above 200 1.6464, which would be the consolidation of the SMA. The MACD indicator is still positive.
Trading recommendations today: H1 chart orders buy (long) if the EUR/USD pair breaks a bullish candlestick; the resistance level 1.6419, take profit and stop loss is at 1.6464 1.6375.
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