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Technical Outlook

Technical Outlook

Product Momentum Strength Support Resistance
EUR/USD
4/17/2014 5:47:29 AM
1hr overbought 1.3850 1.3860
4hr bullish crossover 1.3800 1.3900
Daily bullish crossover 1.3760 1.3965

Comments: EURUSD drifts aimlessly higher, supported by weaker USD after Yellen's remarks yesterday. 1.3860 near-term resistance being tested, break above paves way for 1.3900

Product Momentum Strength Support Resistance
GBP/USD
4/17/2014 6:22:49 AM
1hr bearish crossover 1.6820 1.6840
4hr bullish crossover 1.6785 1.6860
Daily bullish crossover 1.6750 1.6920

Comments: GBP/USD finally breaks previous 2014 high of ~1.6820/5, thus paving way for potential move towards next Fib extensions at 1.6860 & 1.6920. Close below 1.6820 bearish

Product Momentum Strength Support Resistance
USD/JPY
4/17/2014 6:28:20 AM
1hr bearish crossover 101.90 102.35
4hr neutral 101.55 102.70
Daily bearish crossover 101.20 103.05

Comments: USDJPY holding below 50-day SMA ~102.35 after recent bounce. The next potential resistance is at 102.60, previously support, followed by 103.05 - 61.8%. ST support at 101.90

Product Momentum Strength Support Resistance
USD/CHF
4/17/2014 6:51:55 AM
1hr bearish crossover 0.8780 0.8800
4hr potential bearish crossover 0.8745 0.8820
Daily bearish crossover 0.8700 0.8860

Comment: USDCHF's bias lower on potential break below support at 0.8780 towards last week's low of ~0.8745 initially.  38.2% Fib at 0.8820/5 capping the upside.

Product Momentum Strength Support Resistance
AUD/USD
4/17/2014 6:40:27 AM
1hr bearish crossover 0.9335 0.9385
4hr neutral 0.9305 0.9425
Daily potential bearish crossover 0.9280 0.9460

Comments: AUDUSD in no man's land as investors take profit ahead of long weekend. Support seen at 0.9335 then 0.9280

Product Momentum Strength Support Resistance
USD/CAD
4/17/2014 6:50:36 AM
1hr bearish crossover 1.1000 1.1030
4hr neutral 1.0960 1.1045
Daily potential bullish crossover 1.0930 1.1060

Comments: USDCAD continues to drift higher after creating that Doji candle on weekly chart which suggests downtrend may have concluded. Canadian CPI & US data eyed.

Product Momentum Strength Support Resistance
EUR/JPY
4/16/2014 1:42:25 AM
1hr neutral 141.15 141.60
4hr neutral 140.00 142.55
Daily neutral 139.10 143.50

Comments: This pair is nearing a resistance zone around 141.55. Bias lower below this level, towards 141.00 and then 140.05

Product Momentum Strength Support Resistance
NZD/USD
4/16/2014 1:45:32 AM
1hr neutral 08515 0.8600
4hr oversold 0.8440 0.8620
Daily neutral 0.8345 0.8700

Comments: The pair is testing long-term trend line support. Bias lower in near-term on weak NZ CPI data. Bias lower below 0.8600

Product Momentum Strength Support Resistance
EUR/GBP
4/16/2014 1:49:10 AM
1hr neutral 0.8245 0.8310
4hr neutral 0.8205 0.8400
Daily neutral 0.8155 0.8450

Comments: This cross is testing the bottom of its daily Ichimoku cloud. Basi lower below this level. Above to 0.8285.

Product Momentum Strength Support Resistance
AUD/JPY
4/16/2014 1:52:12 AM
1hr neutral 95.40 96.15
4hr bullish crossover 94.85 96.50
Daily bearish crossover 93.80 97.10

Comments: This pair remains in consolidating mode. We are watching for a break of 96.50. Bias higher above this level

Product Momentum Strength Support Resistance
GBP/JPY
4/16/2014 1:55:32 AM
1hr neutral 170.00 170.05
4hr neutral 169.50 171.65
Daily neutral 167.80 173.15

Comments: This cross is testing a key resistance zone, but it may have broken out of its MT downward trend. Slight bullish bias

Product Momentum Strength Support Resistance
CAD/JPY
4/16/2014 1:58:33 AM
1hr neutral 92.30 93.15
4hr neutral 91.70 93.95
Daily bearish crossover 90.65 94.95

Comments: The pair bounced off some strong support around the base of its dailt Ichimoku cloud, but it remains in a LT downward trend

Disclaimer: The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency or CFD contract. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. Any references to historical price movements or levels is informational based on our analysis and we do not represent or warranty that any such movements or levels are likely to reoccur in the future. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions.

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