Daily Technical Analysis LevelsDaily Technical Analysis Levelsfor 25 August 2014for 25 August 2014

Prepared by Nicola DukePrepared by Nicola Duke

Page 2 GBPUSD EURUSDPage 3 AUDUSD USDJPYPage 4 EURGBP USDCHFPage 5 USDCAD EURJPY

Page 6 Gold WTI OilPage 7 DAX S&P500

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GBPUSD After two days of sideways bearish consolidation last week (possibly bear flag) cable has broke away gap lower Sunday night into support. Traders who like bounce trades watch the price action here for a move higher to retest 1.6630-50 level.Hourly view

Resistance 1.6563 1.6630(major) 1.6650 1.666 (major)Support 1.655465, 1.6527, 1.6450-56(major) 1.6375 1.6283(major & short swing target)

EURUSD Daily view continued selling Friday followed by a bear flag into the close = bearish but has met the flag pole objective so could bounce to retest previous support before lower.Hourly view

Support 1.3156 1.3148(major) 1.3017(major)Resistance 1.3247(major) 1.3300 1.3316

AUDUSD Daily view Price action is bullish off the 9237 level but we need to get trading above 9346 to really start the party (target would be 9450) Wedge pattern trade ...Four Hourly View

Resistance 0.9328(major) 0.9348 0.9373 0.9410 0.9456Support 0.9287 0.9238 0.9208(major) 0.9133

USDJPY Daily view Friday was a hugely volatile long legged doji day and Sunday night sees us gap abovethose extreme highs. If you are not already long hard to buy here without some good consolidating first. 103.09 should be good support on any retest. Don't fight the trend (for now)Four Hourly View

Supports 103.75(major) 103.45 103.06 Resistance 104.03(major) 104.70 104.88

EURGBP Daily view – continued sideways consolidation still bodes well for EURGBP longs. Has gapped lower to very good support at 7970 to buy or bull flag could see another leg lower to 0.7949 to buy and a close below that means my bullish view is wrong.4 hour chart view

Support 0.7974-80(major) 0.7949-54 0.7930-34Resistance 0.7997 0.8035(major) 0.8074(major)

USDCHF Daily view. Bull flag pattern broke higher and Sunday night open gap even higher.Bull flag pattern projects 0.93Four Hourly chart view

Supports 0.9270-80 0.93(major) Resistance 0.9146(major) 0.9156(2014high) 0.9175-80(major)

USDCAD Daily View inside day and no follow through on the triple top off good level 1.0982Hard to say sell this when the US dollar is so strong against everything else … Patience needed.For Monday 10970-73 should hold as resistance to sell.Four Hourly view

Support 1.0918-21 1.0870 1.0844-50 1.0804 (major)Resistance 1.0970-3 109.85 1.1026 1.1055 1.1135 1.1188-1.1200(major)

EURJPY Double topped at 1.38 needs confirmation. No daily trend change to bullish below 1.38Four Hourly view

Supports 137.42 137.10 136.84Resistance 137.70 138.00 138.24 (2009 triple top)

GOLD Daily view – bearish day into support area which was Jan high and March/April lows. A good level to buy off if the dollar rally slows. However buyers beware the wedge pattern line from Jan lows is a bit lower … Hourly price action is a wedge which is very tradeable hereHourly Hour view

Resistance 1292 1296 1307(major)Supports 1278 1278(major) 1268 1265 1238(major)

OIL US WTI crude Daily View – bearish inside day after support at 92.70 meant a close close to the weekly lows. Oversold but 95.00 & 95.23 looks like good areas to reload shorts for 91.60 Good level for bounce longs but not a good enough level for swing longs yet.Hourly chart – wedge

Support 93.11 92.77 91.50(major) 91.23(Jan low)Resistance is at 95.00-25 95.90 96.50 97.35 99.00-99.30(major) 99.80

DAX Daily view – we broke above the 38.2fib 9335 resistance and this should now be support for a move to 9475 (50% retracement)Four Hourly view

Support at 9250 9175(major) 9086 9050(major) 8909Resistance 9338-50(major) 9411 9473(major)

S&P Daily view – At new highs! The pattern in the S&P seems to be to make marginal new highs thensell off hard before continuing higher. Be ready! Watching the price action and the rising wedgeFour Hourly view

Resistance 1993 2000-01 2017(major)Support 1991 1980-83(major), 1978 1950 1944(major) 1930

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