24-Apr-2014 11:22
EURO-DOLLAR TECHS: $1.3864-$1.3876 Sill Resistance To This Rally
*RES 4: $1.3965 Mar 13 high
*RES 3: $1.3904 Apr 11 high
*RES 2: $1.3876 76.4% Fibo of $1.3904-$1.3786
*RES 1: $1.3864 Apr 17 high
*PRICE: $1.3829 @0921GMT
*SUP 1: $1.3800/10 Hourly support
*SUP 2: $1.3786 Apr 22 low
*SUP 3: $1.3763 61.8% Fibo of $1.3676-$1.390404
*SUP 4: $1.3749 1.618 swing of $1.3793-$1.3864
*COMMENTARY: Wednesday's rally fell just shy of a test to the Apr 17 high at
$1.3864 and below the key near term resistance at $1.3876. Today this latter
point also encompasses the 7 week falling resistance line. Subsequent decline
has yet to do anything dangerous, needing a loss of $1.3800 to swing bias back
lower again and and see scope for a deeper $1.3786-$1.3730 fall. Above $1.3876
and we probably head for the year's $1.3965 high again.
24-Apr-2014 11:24
CABLE TECHS: Rallies Benign While Capped By $1.6825-$1.6841
*RES 4: $1.6918 1.618 swing of $1.6820-$1.6662 fall
*RES 3: $1.6881 5th wave tgt in rise from $1.6465
*RES 2: $1.6841 April 17 & Apr 22 highs
*RES 1: $1.6815/25 Hourly resistance
*PRICE: $1.6796 @0924GMT
*SUP 1: $1.6765 Apr 23 low
*SUP 2: $1.6748 Apr 15 high
*SUP 3: $1.6715 Double hourly lows Apr 15
*SUP 4: $1.6660/62 Apr 2& 3 highs, now support
*COMMENTARY: Wednesday's loss of $1.6775 support coupled with the added
potential of a double top at $1.6841, keeps the initial focus on lower today.
Require a move back above $1.6825 & then $1.6841 to remove the downside bias and
point to a $1.6881-$1.6918 rise. Supported by Wednesday's 1.6765 low and this
currently protects against a further $1.6748-$1.6715 fall. Beneath which sees
last week's $1.6662 low as key support.
24-Apr-2014 11:25
DOLLAR-YEN TECHS: Supported Near Term While Above Y102-10-Y102.20
*RES 4: Y104.10 Apr 3 & Apr 4 highs
*RES 3: Y103.45 76.4% Fibo of Y104.10-Y101.35
*RES 2: Y103.05 61.8% Fibo of Y104.10-Y101.35
*RES 1: Y102.72 50% Fibo of Y104.10-Y101.35
*PRICE: Y102.39 @0925GMT
*SUP 1: Y102.10/20 Hourly support
*SUP 2: Y101.88 Apr 17 low / 61.8% of Y101.35-Y102.72
*SUP 3: Y101.67 76.4% Fibo of y101.35-Y102.72
*SUP 4: Y101.35 Apr 11 low
*COMMENTARY: The pullback seen since last week's Y102.72 high has reached
Y102.19, roughly in line with a 61.8% retrace of the latest gains from the Apr
17 low at Y101.88. Still seeing some near term oversold conditions and in turn
this can lead to a Y102.60-Y102.72 bounce. Still require a further move above
here to continue the overall upside correction and on to Y103.05-Y103.45. Loss
of Y102.10-20 now will disappoint and pressure Y101.88-Y101.67 next.
24-Apr-2014 11:28
EURO-YEN TECHS: Y141.85-Y142.17 The Intraday Barrier To Surmount
*RES 4: Y143.17 7 week falling res line
*RES 3: Y142.66 76.4% Fibo of Y143.45-Y140.10
*RES 2: Y142.34 1.618 swing of Y141.54-Y140.25 fall
*RES 1: Y142.17 61.8% Fibo of Y143.45-Y140.10
*PRICE: Y141.55 @0927GMT
*SUP 1: Y141.35 Hourly support
*SUP 2: Y141.21 Apr 23 low
*SUP 3: Y141.01 Apr 17 low
*SUP 4: Y140.81 Rising support line from Nov 2013
*COMMENTARY: Unable to break clear of key Y141.23 support on Wednesday, posting
a low of Y141.21. Subsequent recovery looks to resistance initially from around
Y141.85 but again more importantly from the 61.8% Fibo retrace at Y142.17. Must
clear here to continue upside momentum and a further Y142.34-Y142.66 rise. In
the interim, support has moved up to Y141.35, which protects that Y141.21 low
and the risk of a deeper Y141.01-Y140.81 fall.
24-Apr-2014 11:29
EURO-STERLING TECHS: Key Resistance Between Stg0.8246-Stg0.8253 Now
*RES 4: Stg0.8282 Hourly highs Apr 14
*RES 3: Stg0.8267 Apr 16 high
*RES 2: Stg0.8253 5 week falling resistance line
*RES 1: Stg0.8246/47 Apr 15 low & Apr 17 high
*PRICE: Stg0.8232 @0928GMT
*SUP 1: Stg0.8209 Initial recovery high Apr 23
*SUP 2: Stg0.8198 Apr 22 low
*SUP 3: Stg0.8192 Feb 28 low
*SUP 4: Stg0.8159 Feb 17 low
*COMMENTARY: Wednesday's rally reached the next level of resistance at
Stg0.8246/47 before faltering. Subsequent pullback is neutral while held above
Stg0.8209 and can produce another attempt higher on the now key
Stg0.8246-Stg0.8253 area. Above the latter will see a break out of the 5 week
downtrend. While capped here, there remains the risk of a fresh downside move
and a renewed Stg0.8209-Stg0.8192 fall.
24-Apr-2014 11:30
GOLD TECHS: $1293.7-$1294.2 Break Needed To Improve Near Term
*RES 4: $1306.6 Apr 16 high
*RES 3: $1301.1 Apr 21 high
*RES 2: $1294.2 Apr 16 and Apr 17 lows
*RES 1: $1293.7 7 day falling resistance line
*PRICE: $1284.3 @0930GMT
*SUP 1: $1277.9 Apr 1 low
*SUP 2: $1272.8 Feb 5 high/ 2% volatility band
*SUP 3: $1264.1 61.8% Fibo of $1185.2-$1391.8
*SUP 4: $1252.9 Feb 5 low
*COMMENTARY: Still trading within a narrow range, with a near term downside bias
while capped into the $1293.7-$1294.2 region. Need to find the strength to move
back above here in order to avoid a renewed downside push and further drop
towards the lower 2% volatility band at $1272.8 today and more importantly Fibo
support at $1264.1. Above $1294.2 and outlook improves for a $1301.1-$1306.6
rise, as we begin to correct losses from the Apr 14 high at $1330.6.
