28-Jul-2014 12:05
EURO-DOLLAR TECHS: $1.3390-$1.3372 The Prime Targets Of Latest Decline
*RES 4: $1.3548 Jul 21 high
*RES 3: $1.3514 Jul 21 low, now resistance
*RES 2: $1.3475/84 July 25 & Jul 24 highs
*RES 1: $1.3455/60 Hourly resistance
*PRICE: $1.3436 @1003GMT
*SUP 1: $1.3422 Jul 25 low
*SUP 2: $1.3390 1.618 swing of $1.3507-$1.3697
*SUP 3: $1.3372 50% Fibo of $1.2754-$1.3989
*SUP 4: $1.3303 Nov 7 low
*COMMENTARY* Failure to break back above the floor of the 8 month channel base
last week, the catalyst for the latest decline. This initially aims to test the
$1.3390-$1.3372 region, this includes the 1.618 swing target of the June
recovery as well as a 50% Fibo retrace of the Apr 2013-May 2014 rise. Resistance
from $1.3455-$1.3460 on the day, with the $1.3475-$1.3484 more important above.
Back above here the minimum requirement for any meaningful bounce.
28-Jul-2014 12:06
CABLE TECHS: Making It's Way Back Down The 5 Month Bull Channel
*RES 4: $1.7048/52 10 day res line, Jul 24 high
*RES 3: $1.7039 Jul 18 low, now resistance
*RES 2: $1.7026 Jul 23 low, now resistance
*RES 1: $1.6996 Jul 25 high
*PRICE: $1.6982 @1004GMT
*SUP 1: $1.6953/66 Jun 25 & Jul 25 lows
*SUP 2: $1.6941 50% Fibo of $1.6696-$1.7186
*SUP 3: $1.6883 61.8% Fibo of $1.6696-$1.7186
*SUP 4: $1.6866 5 month channel base
*COMMENTARY: After the failure at/around the 1.618 swing target at $1.7181 we
have seen a decline back down the 5 month bull channel. Also looking at the Fibo
retracements of gains seen since the $1.6696 low on May 29. Next supports of
note are the 50% retrace at $1.6941, then the 61.8% at $1.6883 and then the
channel base itself, at $1.6866 by time today. Recoveries limited by $1.6996 at
present, needing a rally through here to kickstart a decent correction.
28-Jul-2014 12:08
DOLLAR-YEN TECHS: Recovery Still Faltering Below Y101.98 Resistance
*RES 4: Y102.79 Jun 4 high
*RES 3: Y102.46 2014 falling resistance line
*RES 2: Y102.26/30 Jul 3 & Jun 18 highs
*RES 1: Y101.98 Jul 4 low, 76.4% of Y102.26-Y101.09
*PRICE: Y101.86 @1005GMT
*SUP 1: Y101.30/40 Hourly support
*SUP 2: Y101.09 Jul 10 low
*SUP 3: Y100.85/89 May 21 low, 2014 support line
*SUP 4: Y100.79 Feb 4 low
*COMMENTARY: Recovery from the July 10 low at Y101.09 has been slow and has yet
to challenge the remaining Fibo resistance at Y101.98, of the preceding fall
from Y102.26. Will need the stimulus of a break here, before thoughts can turn
to a test and possible breach of the 2014 falling resistance line, at Y102.46 by
time today. Nearest supports of note currently lie between Y101.30-Y101.40 and
need a loss here to turn the tide.
28-Jul-2014 12:09
EURO-YEN TECHS: Y137.46-Y137.53 The Barrier To Any Recovery Hopes
*RES 4: Y137.94 Jun 26 low, now resistance
*RES 3: Y137.46/53 4 week channel top, Jul 10 low
*RES 2: Y137.24/33 Jul 25 & Jul 22 highs
*RES 1: Y137.00/10 Hourly resistance
*PRICE: Y136.87 @1006GMT
*SUP 1: Y136.55/65 Hourly support
*SUP 2: Y136.28/38 Feb 4 & Jul 24 lows
*SUP 3: Y136.00 4 week channel base projection
*SUP 4: Y135.86 5 month channel base
*COMMENTARY: Key near term resistance is seen to be between the 4 week channel
top at Y137.46 and the July 10 low at Y137.53. Need a move back above here,
before any thoughts can turn to higher recovery levels. On the day, see
Y137.00-10 as the initial barrier ahead of last weeks Y137.24-Y137.33 highs.
Back below Y136.55 would trigger bearish hopes for a better test of the years
previous Y136.28 low, with Y136.00-Y135.86, the next supports below.
28-Jul-2014 12:10
EURO-STERLING TECHS: Stg0.7906-Stg0.7892 To Hold If Recovery To Continue
*RES 4: Stg0.7987 5 month falling resistance line
*RES 3: Stg0.7980 Jul 14, Jul 15 highs
*RES 2: Stg0.7955 Hourly pivot
*RES 1: Stg0.7938 Jul 24 high
*PRICE: Stg0.7914 @1007GMT
*SUP 1: Stg0.7906 Jul 25 low
*SUP 2: Stg0.7892 Jul 24 low
*SUP 3: Stg0.7875 Jul 23 low
*SUP 4: Stg0.7852 11 month channel base projection
*COMMENTARY: Still room for some further recovery all the while support from
between Stg0.7906-Stg0.7892 remains intact. Initial resistance remains from last
week's Stg0.7938 high and then more significantly from the near term pivot at
Stg0.7955. Will need to post levels above here, before confidence will return
for a further rise aimed at Stg0.7980-Stg0.7987. Loss of Stg0.7892 will concern
and suggest a tilt for the 11 month channel base at Stg0.7852 is back on.
28-Jul-2014 12:11
GOLD TECHS: Dual Resistance From $1310.7 Blocks Recovery Today
*RES 4: $1324.3 Jul 17 high
*RES 3: $1318.2 Jul 21 high
*RES 2: $1315.9 76.4% Fibo of $1324.3-$1288.8
*RES 1: $1310.7 Jul 23 high,61.8% of $1324.3-$1288.8
*PRICE: $1304.7 @1010GMT
*SUP 1: $1288.8 Jul 24 low
*SUP 2: $1280.6 61.8% Fibo of $1241.3-$1344.3
*SUP 3: $1273.2 1.618 swing of $1292.7-$1324.3 rise
*SUP 4: $1265.6 76.4% Fibo of $1241.3-$1344.3
*COMMENTARY: The decline from the 1.618 swing target at $1344.3, seen on July
10, looks corrective so far. This will remain the case all the while that
support from above the 76.4% Fibo retrace level at $1265.6 remains unscathed. On
the day, the dual resistance at $1310.7 represents the initial barrier to the
upside and there is scope for further losses while this caps. Support seen from
last weeks $1288.8 low and then $1280.6-$1273.2 ahead of that $1265.6 level.
