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Technical Outlook

Technical Outlook

Product Momentum Strength Support Resistance
EUR/USD
7/24/2014 8:55:04 AM
1hr neutral 1.3455 1.3485
4hr bullish crossover 1.3440 1.3500
Daily bearish crossover 1.3380 1.3550

Comments: EURUSD has bounced back slightly but while below the 1.3500 handle, the bias remains bearish with the next key support coming in around 1.3380

Product Momentum Strength Support Resistance
GBP/USD
7/22/2014 5:16:15 AM
1hr bearish crossover 1.7060 1.7095
4hr neutral 1.7000 1.7115
Daily bearish crossover 1.6920 1.7190

Comments: GBPUSD testing the key 1.7060 support - previously this was a key resistance level. Thus bias would be bullish above here and bearish below (on a closing basis).

Product Momentum Strength Support Resistance
USD/JPY
7/22/2014 5:35:36 AM
1hr neutral 101.45 101.75
4hr bullish crossover 101.20 102.00
Daily neutral 101.05 102.25

Comments: USDJPY has climbed by a grand total of 40 pips in 3 days (!) Needless to say, it is still range bound. May move higher if US data/earnings top estimates today

Product Momentum Strength Support Resistance
USD/CHF
7/22/2014 5:48:23 AM
1hr overbought 0.9000 0.9035
4hr bullish crossover 0.8970 0.9085
Daily bullish crossover 0.8945 0.9135

Comment: USD/CHF has taken out 0.9000 resistance - 0.9035 next target then 127.2% Fib ext level of corrective move in June, at 0.9085

Product Momentum Strength Support Resistance
AUD/USD
7/22/2014 5:51:46 AM
1hr bullish crossover 0.9350 0.9380
4hr bullish crossover 0.9320 0.9400
Daily neutral 0.9270 0.9455

Comments: AUD/USD has held above 50-day SMA (0.9350) support - closing break below may see 0.9320 (61.8% Fib of last up move) then 0.9270. Resistance at 0.9400.

Product Momentum Strength Support Resistance
USD/CAD
7/22/2014 5:55:12 AM
1hr bullish crossover 1.0710 1.0790
4hr neutral 1.0685 1.0805
Daily bullish crossover 1.0630 1.0820

Comments: USD/CAD's medium-term bearish trend capping gains. But with LT uptrend still intact, it would be bullish development if KEY resistance ~1.0805/20 breaks

Product Momentum Strength Support Resistance
EUR/JPY
7/24/2014 2:05:20 AM
1hr bearish crossover 136.40 137.35
4hr neutral 136.15 138.50
Daily neutral 135.50 139.30

Comments: This pair is testing a key resistance zone around 136.40. Below here the pairs yearly low around 136.15 comes into focus

Product Momentum Strength Support Resistance
NZD/USD
7/24/2014 2:08:51 AM
1hr oversold 0.8570 0.8630
4hr neutral 0.8400 0.8720
Daily neutral 0.8360 0.8855

Comments: This pair has taken a battering after the verbal assualt by the RBNZ. Bias lower, but key support around 0.8570 - 61.8% retracement from 3yr high

Product Momentum Strength Support Resistance
EUR/GBP
7/24/2014 2:10:59 AM
1hr possible bearish crossover 0.7890 0.7935
4hr neutral 0.7875 0.7980
Daily neutral 0.7800 0.8035

Comments: This pair is holding in a long-term downward trend, thus bias is lower over the LT. Possible push towards top of channel in ST

Product Momentum Strength Support Resistance
AUD/JPY
7/24/2014 2:14:16 AM
1hr neutral 95.80 96.20
4hr overbought 95.25 96.50
Daily bullish crossover 94.40 96.95

Comments: This cross is now looking a little strong in the long term. But possibly overbought in the medium term.

Product Momentum Strength Support Resistance
GBP/JPY
7/24/2014 2:15:57 AM
1hr possible bearish crossover 172.65 173.60
4hr neutral 172.40 174.55
Daily neutral 171.50 175.40

Comments: This pair bounced of its 50-day SMA. Bias higher above this level towards top of long-term downward channel

Product Momentum Strength Support Resistance
CAD/JPY
7/24/2014 2:18:10 AM
1hr bearish crossover 93.90 94.70
4hr neutral 93.55 95.55
Daily neutral 92.95 96.25

Comments: This pair is creeping higher, but still looks a little weak in the long term. Watching for break of ST upwards 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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