Daily Technical Analysis Levels Daily Technical Analysis Levels

for week Monday 18 August 2014 for week Monday 18 August 2014
Preared !y "icola Duke Preared !y "icola Duke

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GBPUSD
Daily view < the hefty dro of last 1ednesday is to !e retested: The ;ara!u=o line at 1:04407
0448 is a key level to watch for shorts to reload:
,a!le stoed at the ;uch fa!led 1:000 level !ut first .i!onacci target is slightly lower at
1:00)0 >2):0 fi!o fro; 201) low?
-ourly view
(esistance 1:044078>;a@or? 1:0404>last weeks low? 1:082/
&uort 1:0010< 1:0000 6 1:00)0
EURUSD
Daily view A the do@i days of su;;er >still?
Multile tests of 1:))) are holding !ut no fuel for a s9uee=e yet and no !reak of the suort for
shorts: A retrace to 1:)4B0 as a counter7trend trade is still ossi!le !ut the trend says this is
likely a wedge C ennant for a !reak lower to interi; target of 1:)1/0
.our -ourly view
Trade the wedge C ennant attern to stay within the range until it !reaks
&uort 1:)))/ >;a@or? 1:)1/0>;a@or?
(esistance 1:)4/0 1:)/0 >;a@or?
AUDUSD
Daily view $ullish re!ound now holding at resistance at B)147B)28>orange?: This is the key level
to watch for short ter; direction today
.our -ourly Diew
(esistance B)28>;a@or? B)/4 >;a@or? 0:B40/
&uort B288 6 B240
USDJPY
Daily view !earish engulfing >outside? day .riday could set another leg lower:
The May7*une rally is e9ual to the *uly August rally which is a !earish attern and we should
now see twoE waves lower: .irst suort is 101:4/7101:8/ >,F0:018A?and if we do not rally
here then it is !ack to the !otto; of the range at 101:18 >,FA?
.our -ourly Diew
This 102:2/7)0 level has !een ivotal resistance since .e!ruary< it is holding as suort 6 will !e
first indicator of direction today
&uorts 102:48 6 102:)0 >;a@or?
(esistance 102:44 >;a@or? 102:80 10):00 >;a@or? 10):11
EURGBP
Daily view $ullish: -6& attern triggered: 1atch retest the neckline for a long entry:
4 hour chart view
&uort 4BB4>;a@or? 4B80 >;a@or? 4B)1
(esistance 80)0 8000>;a@or? 81//>;a@or?
USDCHF
Daily view: Are we rolling overG
.our -ourly view
$roke the suort at B0)/ !ut needs to !reak ;a@or suort 0:B114 ne8t
&uorts 0:B01071B>;a@or? 0:8B8/ 0:8B/) >;a@or?
(esistance 0:B0B4 0:B11)>;a@or?
USDCAD
Daily Diew Descending channel should resolve higher when it !reaks:&uort at 1:08 kees the
!ull view alive short ter;$elow 1:08 2 would wait for a retest of 1:0/8/ to !uy
.our hour view
&uort 1:084)< 1:0804 >;a@or? 1:0440>;a@or?
(esistance 1:08B4
EURJPY
Daily view fought !ack a!ove last weeks lows and held is !ullish !ut A$F,D e9ual ;easured
;ove rally is !earish short ter;
Long targets re;ain 1)0:20
.our -ourly view
&uorts 1)0:40< 1)0:/B >;a@or? 1)0:41 1)0:22
(esistance 1)4:12 >;a@or?< 1)4:/0700>;a@or? 1)8:00
GOLD
Daily view &till consolidation and direction not clear< !ullish ennant failed and !roke lower< now
holding !elow last weeks consolidation we need to clear this area to rove the !ullish case:
12B/ is i;ortant suort:
.our -ourly view
(esistance 1)00 1)2472/ 1)42
&uorts 12B/>;a@or? 12B1:80 1244>;a@or?
OIL %& 1T2 crude
Daily Diew A -uge !ounce .riday was off the suort level B/:/0 !ut the fi!onacci suort is a
!uck lower at B4:44
1atch retest of the lows today for a !ounce that will sustain and a reversal higher this week
.our -ourly view
Ma@or &uort B/:/0 B4:00740>;a@or?
(esistance is at B4:)0 BB:007BB:)0>;a@or? BB:80
DAX
Daily view $earish engulfing C key outside reversal day:
$ullish !ounce off the 2014 lows is failing a !it: Must hold key 8B0B level for !ulls:
Mini;u; target of B))8 then B020
.our -ourly view
&uort at B080 B0/0>;a@or? 8B0B
(esistance B140 B2/0 B)/0>;a@or? B411 B44)>;a@or?
S&P
Daily view A long legged do@i day A lots of volatility !ut closed where we started
(eversal at the )8fi! gives us new high targets of 2014 and 20/0< this fi! will nor;ally roduce
new highs
.our -ourly view
(esistance 1B/8:/>;a@or? 1B48>;a@or? and rev high 1BB1
&uort 1B42>;a@or? 1B)1
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