Technical Charts for week commencing 10 August 2014

Prepared by Nicola uke

Page 2 !"P#$
page % &#'#$
Page 4 A##$
Page ( #$)P*
Page + &#'!"P
Page , #$C-.
Page / &#')P*
Page 0 !old
Page 10 1T2 3il
Page 11 A4
Page 12 $5P(00
2f there are any other markets you would like to see please let us know6
GBPUSD weekly 7iew
Cable8s summer swoon is greater than the two pre7ious declines this year suggesting an interim
trend re7ersal off a ma9or o7erhead resistance6 As we approach recent pre7ious annual highs
after ( straight weeks in decline for the first time in 2 years we could well see support this week6
1ith no sign of a re7ersal or support yet this is the weakest of the ma9or pairs6
aily 7iew
-ighs from earlier this year supporting at 16+,/( 2 would be looking for a minimum bounce to
16+/10 or possibly 16+/(0 to sell again6
-ourly 7iew
EURUSD 1eekly 7iew
Two hammers in a row sitting on the weekly 200sma suggest that we may slow 5 go back to
retest the breakdown le7el from the wedge at 16%(20 or pre7ious ma9or 16%((0 resistance6 The
short positioning in this pair is 7ery high lea7ing it 7ulnerable to a s:uee;e that could o7er shoot
but for now selling a retest or trading a short term bounce look promising6
aily 7iew
-ourly 7iew
16%%/( first le7el of support we are looking for today
AUDUSD weekly 7iew
Although it looks like A##$ has broken below the mid summer trading range the weekly do9i
shows little follow through and we are still ho7ering abo7e last summers highs and the April<=ay
lows6
aily 7iew
"ullish gartley fibonacci pattern from the April lows and a bullish hammer .riday says Aussie
could find some interim support this week and a bullish trade set up6
-ourly >iew
2n7erse head and shoulders gi7es us a nice entry into a counter?recent@trend long6 1atch for
resistance at 0%610 5 0%61,
!artley pattern targets a minimum of 0%62( and likely a return to the top of the range in the
048s
USDJPY weekly 7iew
The bullish wedge breakout has seen a retest and we closed the week as a sideways do9i6 1ith
most )apanese companies on holiday this week it may not be the fastest trade6
aily 7iew
"ullish hammer following the retest of the breakout suggests longs6
-ourly >iew
Pullbacks to 101600 could be bought for a minimum target of 1026+0
EURGBP weekly 7iew
This might be my fa7ourite trade based on the eAtreme short positioning in &#' and the
unwinding of !"P longs6 "ullish bat fibonacci pattern targets return to 06/4
aily 7iew
'etest of the in7erse head and shoulders pattern gi7es a nice long entry6
4 hour chart 7iew
This pair likes to meanBre7ert so could pullback to 06,040 or lower and pattern still intact6 1atch
the price action6
USDCHF weekly 7iew
=arket fought hard to make sure #$C-. did not break the start of the year closing highs6
Two weekly shooting stars in a row are bearishC like the re7erse of &#'#$
aily 7iew6
The topping price action and bearish bat fibonacci pattern fa7our shorts6 'esistance becomes
support at the )une highs at 060010 but first target for the fibonacci pattern is 06/0((
-ourly 7iew
Price actionC mo7ing a7erages are all bearish6 3nly trading abo7e 00/% negates that 7iew for
the start of the week6
EURJPY weekly 7iew
.ibonacci says this pair should be on its way to 1%2 but the break to new lows for the year and
the failure to close below that =arch low is short term bullish6
aily 7iew
"ullish piercing line .riday is :uite a reliable bullish pattern6 $o a counterBtrend trade set up for
the bra7e6 The less bra7e can wait and sell a break and retest of 1%+620
-ourly 7iew
1atching for a bottoming patternC support lies at 1%+6+2 and 1%+61,
=o7ing a7erages are supporti7e6
GOLD weekly 7iew
The middle of a wedge is a hard place to trade but the bigger pattern is bullish and should
resol7e higher to 14/(6
aily 7iew
"earish candles D suggest if we ha7e broken from a declining wedge we retest the breakout
le7el at 120(B1%00
-ourly 7iew
Possible short term topping pattern we need to see right shoulder de7elop ?or break lower@
today
OIL #$ 1T2 crude weekly 7iew
!artley fibonacci pattern has met its 2
nd
target and crude has good structure support at the
0,6(0 le7el
aily >iew
2f we bottom 0+20B40 then its an A"C or A"EC correction which is bullish and we will be back
abo7e 100 in short order and looking for new 2014 highs so what we do here is key
-ourly 7iew
1e do seem to be consolidating hereC resistance is at 006%0 and key support for bulls 0+620B40
DAX weekly 7iew
The =arch low has not been broken to keep the uptrend intact for now6 )ust6
aily 7iew
"ullish piercing line candle pattern is a reliable one D and we are a long way from mo7ing
a7erages6 $horter term pullbacks look like buys for now
-ourly 7iew
=o7ing a7erages and trendlines all suggest a bullish re7ersal but we need to clear 01+, pi7ot
and fibonacci resistance to confirm this week6 2f we do then first targets are 0%(% and 0+20
S&P weekly 7iew
"ullish weekly hammer and support from the spring highs ?resistance becomes support@ and the
%/62 fib retracement from the 2014 lows is 7ery bullish6
aily 7iew
Any pull backs to last weeks low are buys with the trend
The only caution that we will not see new highs ?for now@ is that the decline is in ( wa7es6
-ourly 7iew
Fey support for bulls to buy is 101,62( and a retest of last weeks lows
'esistance 10%1C 1042 5 10(0
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