Daily Forex Technical Analysis Report - 21-04-2014

Daily Technical Analysis Report
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Date: 21/04/2014
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Commodities | Precious - Metals
GOLD
ST Trend
SWING POINT JUNE FUTURE RESISTANCES SUPPORTS
Down
1291.35 LEVEL1 1302.56 1285.11
RANGE REVERSAL SWING TARGET LEVEL2 1304.26 1274.43
23.07
1261.70 LEVEL3 -
Comment : 1* Double Inside Day favors continuation of the previous trend today-tomorrow with a move beyond the range low of 2 days ago (1284.40). 2* The downside objectives for this formation range from 1261.70 to 1260.10 with a close over 1316.65 needed to negate a bear trading stance. 3* Market is within proximity of this week's projected support range of 1260.60-1277.14, which may provide a likely zone for bottoming action or rebounds. 4* Yesterday's penetration of resistance range levels gives a statistical bias for rallies todaytomorrow.
SILVER
ST Trend
SWING POINT MAY FUTURE RESISTANCES SUPPORTS
Down
19.7488 LEVEL1 19.8635 19.4267
49.50
1888.50 LEVEL3 -
Comment: 1* Double Inside Day favors continuation of the previous trend today-tomorrow with a move beyond the range low of 2 days ago (1922.00). 2* 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. 3* Market is within proximity of this week's projected resistance range of 2022.62-1983.00, which may provide a likely zone for topping action or setbacks.
Date: 21/04/2014
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COPPER
ST Trend
SWING POINT MAY FUTURE RESISTANCES SUPPORTS
Down
3.0585 LEVEL1 3.0767 3.0229
6.47
2.9475 LEVEL3 -
Comment: 1* Market is challenging a previous daily swing high and may attempt a breakout. Closing beyond 308.00 calls for continuation rallies. A failure around 308.00 cautions for a reactionary setback. 2* Yesterday's close has penetrated above a key (303.63) resistance point, implying a trend turn and follow-through moves in coming days. 3* Market is within proximity of this week's projected resistance range of 310.19-306.90, which may provide a likely zone for topping action or setbacks.
Date: 21/04/2014
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Commodities | ENERGY
CRUDE OIL
ST Trend
SWING POINT MAY FUTURE RESISTANCES SUPPORTS Up 104.94 LEVEL1 105.10 103.63 RANGE REVERSAL SWING TARGET LEVEL2 105.43 103.48
1.58
105.62 LEVEL3 -
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 101.81 helps confirm a breakout failure. 2* The upside target zone for this pattern is from 105.62 to 106.44 with a close under 103.62 needed to negate a bull trading stance. 3* Yesterday's penetration of support range levels gives a statistical bias for declines today-tomorrow.
NATURAL GAS
ST Trend
SWING POINT MAY FUTURE RESISTANCES SUPPORTS Up 4.779 LEVEL1 4.817 4.681 RANGE REVERSAL SWING TARGET LEVEL2 4.957 4.671
2.62
4.783 LEVEL3 -
Comment: 1* Market showing a breakout over a previous daily swing high and should quickly extend rallies. Failure to extend the breakout now alerts for a bull failure. A close back under 46.46 signals a breakout failure and turnaround. 2* Market is challenging a previous contract high and may attempt a breakout. Closing beyond 48.93 calls for continuation rallies. A failure around 48.93 cautions for a reactionary setback. 3* The directional rally shows a strong probability for a corrective dip today below 46.71. 4* Note that yesterday's outside bull day suggests a breakout over a previous high and could prompt strong follow-through rallies. 5* Note that yesterday's outside bull day favors rallies into the next 1-3 days. Corrections inside the outside range should stay over 45.84 to promote follow-through action. A reluctance to trade over 47.46 or a close under 45.84 by the second day increases the chance for full reversal of the outside day. 6* Yesterday's close signals breakout over a previous daily swing high and
Date: 21/04/2014
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should prompt continuation rallies the next 1-3 days. Sustained trade over the previous high will help motivate rallies. Corrections should not close below 46.46 to maintain the breakout. 7* The upside target zone for this pattern is from 47.83 to 49.22 with a close under 45.84 needed to negate a bull trading stance.
Date: 21/04/2014
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T Bonds | INDICES
MINI S&P
ST Trend
Down
1865.53 LEVEL1 1868.96 1847.77
26.55
1800.00 LEVEL3 -
Comment: 1* Yesterday's retracement against the outside day 5 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* Market is within proximity of this week's projected support range of 1827.80-1849.80, which may provide a likely zone for bottoming action or rebounds.
MINI DOW
ST Trend
Up
16399 LEVEL1 16437 16261
RANGE REVERSAL SWING TARGET LEVEL2 16470 16224
2.14
16585 LEVEL3 -
Comment : 1* Market showing a preliminary breakout over a previous daily swing high and needs to quickly extend rallies into a close beyond 163.84. Failure to extend the breakout today-tomorrow alerts for a bull failure. A close under 161.93 helps confirm a breakout failure. 2* Retracement penetration of outside day high 5 days ago signals a trend reversing turn that favors follow-through moves. 3* 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. 4* The upside target zone for this pattern is from 165.85 to 168.87 with a close under 160.74 needed to negate a bull trading stance. 5* Market is within proximity of this week's projected support range of 160.85-162.43, which may provide a likely zone for bottoming action or rebounds.
Date: 21/04/2014
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MINI NASDAQ
ST Trend
Down
3548.75 LEVEL1 3552.20 3490.88
75.93
3347.75 LEVEL3 -
Comment: 1* The downside objectives for this formation range from 3347.75 to 3267.00 with a close over 3553.66 needed to negate a bear trading stance. 2* Market is within proximity of this week's projected support range of 3450.63- 3486.33, which may provide a likely zone for bottoming action or rebounds.
Date: 21/04/2014
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Commodities | GRAINS
SOYBEANS
ST Trend
SWING POINT JULY FUTURE RESISTANCES SUPPORTS Up 1488.94 LEVEL1 1516.90 1492.10 RANGE REVERSAL SWING TARGET LEVEL2 1523.92 1486.00
28.67
1535.75 LEVEL3 -
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* 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 1473.57 is needed to negate a bull trading stance. 3* Market is within proximity of this week's projected support range of 1480.96-1499.75, which may provide a likely zone for bottoming action or rebounds.
SOYMEAL
ST Trend
SWING POINT JULY FUTURE RESISTANCES SUPPORTS Up 473.41 LEVE1 483.35 474.57 RANGE REVERSAL SWING TARGET LEVEL2 485.07 473.41
10.30
495.60 LEVEL3 -
Comment: 1* Market is showing a breakout test over a previous contract high, but the reversal into the close alerts for a breakout failure and turnaround. Secondary rallies that stay under 481.07 will reinforce the reversal today-tomorrow. A close under 476.14 helps confirm breakout failure. 2* 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 470.66 is needed to negate a bull trading stance. 3* Market is within proximity of this week's projected support range of 470.76-476.70, which may provide a likely zone for bottoming action or rebounds.
Date: 21/04/2014
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SOYBEAN OIL
ST Trend
SWING POINT JULY FUTURE RESISTANCES SUPPORTS Up 43.38 LEVEL1 44.11 43.28 RANGE REVERSAL SWING TARGET LEVEL2 44.23 43.17 0.90 44.46 LEVEL3 -
Comment: 1* The upside target zone for this pattern is from 44.46 to 45.38 with a close under 42.75 needed to negate a bull trading stance. 2* Market is within proximity of this week's projected support range of 42.76-43.60, which may provide a likely zone for bottoming action or rebounds.
Date: 21/04/2014
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WHEAT
ST Trend
SWING POINT JULY FUTURE RESISTANCES SUPPORTS Up 691.25 LEVEL1 709.52 689.82 RANGE REVERSAL SWING TARGET LEVEL2 717.94 687.82
25.38
743.25 LEVEL3 -
Comment : 1* The upside target zone for this pattern is from 743.25 to 747.75 with a close under 681.13 needed to negate a bull trading stance. 2* Market is within proximity of this week's projected resistance range of 749.00-713.59, which may provide a likely zone for topping action or setbacks.
CORN
ST Trend
SWING POINT JULY FUTURE RESISTANCES SUPPORTS
Down
497.72 LEVEL1 505.23 495.08
11.64
488.50 LEVEL3 -
Comment: 1* Market showing a preliminary breakout under a previous daily swing low and needs to quickly extend selloffs into a close beyond 499.75. Failure to extend the breakout today-tomorrow alerts for a bear failure. A close over 504.19 helps confirm a breakout failure. 2* 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. 3* The downside objectives for this formation range from 488.50 to 486.50 with a close over 507.56 needed to negate a bear trading stance. 4* Market is within proximity of this week's projected support range of 491.42-497.00, which may provide a likely zone for bottoming action or rebounds.
Date: 21/04/2014
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Commodities | SOFTS
SUGAR
ST Trend
Down
17.12 LEVEL1 17.51 17.11
0.51
16.80 LEVEL3 -
Comment: 1* The market has shifted into a sideways congestion zone in recent days. A close beyond 17.95 or an intraday rally past 18.07 signals an upside breakout. A close below 17.24 or an intraday selloff below 16.82 signals a downside breakout. 2* The downside objectives for this formation range from 16.80 to 16.53 with a close over 17.66 needed to negate a bear trading stance. 3* Market is within proximity of this week's projected resistance range of 17.87-17.54, which may provide a likely zone for topping action or setbacks.
COFFEE
ST Trend
SWING POINT JULY FUTURE RESISTANCES SUPPORTS Down 206.46 LEVEL1 209.78 199.95 RANGE REVERSAL SWING TARGET LEVEL2 219.75 197.62
15.65
183.00 LEVEL3 -
Comment : 1* Yesterday's retracement against the outside day 2 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 210.90 calls for continuation rallies. A failure around 210.90 cautions for a reactionary setback. 3* Yesterday's close has penetrated above a key (202.34) 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 219.23-209.95, which may provide a likely zone for topping action or setbacks.
Date: 21/04/2014
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COCOA
ST Trend
Up
3028.00 LEVEL1 3042.00 2998.00
0.50
3068.00 LEVEL3 -
Comment: 1* Market is challenging a previous contract high and may attempt a breakout. Closing beyond 30.47 calls for continuation rallies. A failure around 30.47 cautions for a reactionary setback. 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* The directional rally shows a strong probability for a corrective dip today below 29.95. 4* Market is challenging a previous daily swing high and may attempt a breakout. Closing beyond 30.36 calls for continuation rallies. A failure around 30.36 cautions for a reactionary setback. 5* The upside target zone for this pattern is from 30.68 to 31.10 with a close under 29.85 needed to negate a bull trading stance. 6* Market is within proximity of this week's projected resistance range of 30.70-30.32, which may provide a likely zone for topping action or setbacks. 7* The penetration of the recent 30.15 inside day high provides a bull trend signal.
Date: 21/04/2014
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COTTON
ST Trend
SWING POINT JULY FUTURE RESISTANCES SUPPORTS Neutral 91.79 LEVEL1 93.42 91.58 RANGE REVERSAL SWING TARGET LEVEL2 93.68 91.37
2.26
None LEVEL3 -
Comment: 1* Market is challenging a previous daily swing high and may attempt a breakout. Closing beyond 93.48 calls for continuation rallies. A failure around 93.48 cautions for a reactionary setback. 2* Market is within proximity of this week's projected resistance range of 94.80-93.64, which may provide a likely zone for topping action or setbacks.
Date: 21/04/2014
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Forex | CURRENCIES
EURO
ST Trend
SWING POINT JUNE FUTURE RESISTANCES SUPPORTS Up 1.3802 LEVEL1 1.3853 1.3784 RANGE REVERSAL SWING TARGET LEVEL2 1.3862 1.3777
0.76
1.4019 LEVEL3 -
Comment : 1* The upside target zone for this pattern is from 140.19 to 140.21 with a close under 138.16 needed to negate a bull trading stance. 2* Market is within proximity of this week's projected resistance range of 139.19-138.17, which may provide a likely zone for topping action or setbacks.
B POUND
ST Trend
SWING POINT JUNE FUTURE RESISTANCES SUPPORTS Up 1.6772 LEVEL1 1.6836 1.6756 RANGE REVERSAL SWING TARGET LEVEL2 1.6865 1.6749 -
0.88
1.6907 LEVEL3 -
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 166.89 helps confirm a breakout failure. 2* Yesterday's failed test over the (168.05) 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 168.34 or close over 168.05. Overbought adds a strong bias for corrections with this signal. 3* The market is following a bull channel. A close over 168.98 or rally beyond 169.31 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 166.53 or drop under 166.19 today signals a downturn from the bull channel. 4* Market is challenging a previous daily swing high and may attempt a breakout. Closing beyond 168.12 calls for continuation rallies. A failure around 168.12 cautions for a reactionary setback. 5* The upside target zone for this pattern is from 169.07 to 169.84 with a close under
Date: 21/04/2014
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167.14 needed to negate a bull trading stance.
J YEN
ST Trend
Down
0.9755 LEVEL1 0.9800 0.9734
0.74
0.9756 LEVEL3 -
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 98.20 is needed to negate a bear trading stance. 2* Market is within proximity of this week's projected resistance range of 98.69-97.85, which may provide a likely zone for topping action or setbacks.
Date: 21/04/2014
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AUSSIE$
ST Trend SWING POINT JUNE FUTURE RESISTANCES SUPPORTS Down 0.9276 LEVEL1 0.9328 0.9257 RANGE REVERSAL SWING TARGET LEVEL2 0.9334 0.9229 0.77 0.9259 LEVEL3 -
Comment: 1* Note that yesterday's outside bear day favors declines into the next 1-3 days. Corrections inside the outside range should stay under 93.28 to promote follow-through action. A reluctance to trade under 92.85 or a close over 93.28 by the second day increases the chance for full reversal of the outside day. 2* We have currently traded below the first swing target for this market (92.88). The next objective is 92.59. A close over 93.47 is needed to negate a bear trading stance. 3* Market is within proximity of this week's projected resistance range of 94.11-93.19, which may provide a likely zone for topping action or setbacks.
CANADIAN$
ST Trend SWING POINT JUNE FUTURE RESISTANCES SUPPORTS Down 0.9059 LEVEL1 0.9102 0.9047 RANGE REVERSAL SWING TARGET LEVEL2 0.9107 0.9035 0.60 0.9028 LEVEL3 -
Comment: 1* The downside objectives for this formation range from 90.28 to 90.06 with a close over 90.94 needed to negate a bear trading stance. 2* Market is within proximity of this week's projected resistance range of 91.68-90.91, which may provide a likely zone for topping action or setbacks.
SWISS FRANC
ST Trend
Up
1.1312 LEVEL1 1.1374 1.1305
0.76
1.1565 LEVEL3 Date: 21/04/2014
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Comment: 1* The upside target zone for this pattern is from 115.65 to 115.85 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 114.53-113.40, which may provide a likely zone for topping action or setbacks
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.
Date: 21/04/2014
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Daily Forex Technical Analysis Report - 21-04-2014

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Daily Technical Analysis Report

Commodities | Precious - Metals

RANGE REVERSAL SWING TARGET LEVEL2 1304.26 1274.43

RANGE REVERSAL SWING TARGET LEVEL2 19.9073 19.2767

RANGE REVERSAL SWING TARGET LEVEL2 3.0980 3.0160

RANGE REVERSAL SWING TARGET LEVEL2 1873.73 1842.99

RANGE REVERSAL SWING TARGET LEVEL2 16470 16224

RANGE REVERSAL SWING TARGET LEVEL2 3564.25 3477.30

RANGE REVERSAL SWING TARGET LEVEL2 506.19 493.75

RANGE REVERSAL SWING TARGET LEVEL2 17.57 16.82

RANGE REVERSAL SWING TARGET LEVEL2 3068.00 2995.00

167.14 needed to negate a bull trading stance.

RANGE REVERSAL SWING TARGET LEVEL2 0.9808 0.9730

RANGE REVERSAL SWING TARGET LEVEL2 1.1386 1.1298

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