Research Division   

Daily Technical Analysis
Posted: 8/18/2014 1:34:39 AM



Currency Pair Long Term Momentum Medium Term Momentum Short Term Momentum Support Resistance Comments
EUR/USD 1.3340
1.3330
1.3300
1.3400
1.3450
1.3500
0510GMT The pair is holding steady in the Asia session, eyes on geopolitical risk in near-term. Bias higher above 1.3400
GBP/USD 1.6715
1.6700
1.6660
1.6740
1.6850
1.6895
0515GMT BOE Gov Carney has done it again - the bank won’t wait for real wages to turn positive before hiking rates = GBP strength
USD/JPY 102.25
101.50
101.20
102.50
103.00
104.00
0520GMT Not much price action from yesterday to today, but Fibonacci resistance looms near 102.50.
USD/CHF 0.9025
0.9000
0.8970
0.9100
0.9110
0.9150
0525GMT Possible Head and Shoulders pattern developing if it can break through the neckline around 0.9025. otherwise current bullish trend intact.
AUD/USD 0.9300
0.9240
0.9175
0.9335
0.9345
0.9430
0530GMT This pair is holding below key short-term resistance around 0.9330/35. Bias higher if broken.
USD/CAD 1.0860
1.0800
1.0715
1.0920
1.0955
1.0985
0535GMT double top near 1.0980 could halt the rise of this pair over the ST and LT and the break of 1.09 to the downside opens 1.0820.
EUR/JPY 136.30
136.15
135.50
137.20
138.05
138.75
2150GMT This pair is holding in a long-term downward trend, thus bias lower in long-term. Possible ST strength
NZD/USD 0.8460
0.8400
0.8360
0.8510
0.8530
0.8710
2155GMT The two month long bearish trendline was broken, then it rallied to take out the 0.8500 round handle. momentum higher for this pair.
EUR/GBP 0.7915
0.7875
0.7800
0.8030
0.8035
0.8100
2200GMT Bullish trendline since late July has held once again as Carney takes the bite out of the GBP, but we now reside at the top of the channel.
AUD/JPY 94.60
93.95
93.05
95.75
96.50
96.95
2205GMT This cross was rejected by a support zone around its 200day SMA. Now the pair is finding some sticky ground around top of Ichimoku cloud
GBP/JPY 170.75
170.45
169.50
171.50
172.65
173.55
2210GMT The pair is testing a key support zone around its 200-day SMA. Too early to get bearish without a confirmed break here
CAD/JPY 93.55
92.75
92.00
94.50
94.90
95.00
2215GMT Continued momentum took this pair further away from its bearish trendline lending more credence to the recent rally.

- Optimal phase to initiate position with arrow - Cycle mature, protect profits
- Cycle extreme, t/p, plan for new cycle - Hold Cycle in direction of arrow

Click here for more tips on using the Momentum Grid

- indicate that momentum is positive and moving higher, usually signs of higher prices ahead
- indicate negative and falling momentum, typically implying lower prices in the future

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. 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. 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.