Technical Charts Daily view for 12 August 2014

Prepared by Nicola Due

Page 2 !"P#$D % &#'#$D
Page ( A#D#$D % #$D)P*
Page 4 &#'!"P % #$DC+,
Page - &#')P* % !old
Page . /T0 1il % DA2
Page 3 $%P-00
4et 5e now if you would lie a chart for anything else6
GBPUSD
Daily view
+as stopped going down7 and s5all hara5i inside day yesterday6 Not a co5pelling trade into the
inflation report6 "elow 168.3- support is 168.(( A close below that 5eans continuation to
1688(06 1verhead resistance 168320 and 1683..
+ourly view
Cable loves to spie through support and resistance levels and co5e bac6 /atch for a false
brea of last wees low before higher this 5orning
EURUSD
Daily view
The support in &#'#$D is 16((( and that is holding6 4ongs still favoured to 16(490 for now6
+ourly view
"earish pattern triggered on ,riday could set up a retest of the lows6
The rally fro5 Thursdays low was -:(; waves so looing for two swings lower before higher
again6 16((-. % 16((4. support today
AUDUSD
Daily view
0nside day6 "ullish gartley fibonacci pattern fro5 the April lows and bullish ha55er fro5 ,riday
still in play6 $till looing for support here or the range botto5 below6
+ourly <iew
0nverse head and shoulders failed :showing why you wait for the necline; gives us a nice entry
/atch for resistance at 9(600 % 9(61.6 !artley pattern targets a 5ini5u5 of 9(62- and liely a
return to the top of the range in the 94=s
>a?or support below at 92600 and 916(0
USDJPY
Daily view
"ullish ha55er fro5 ,riday has been triggered and 5oved higher6 /e are now holding at -0@
of the decline since the end of )uly7 a co55on place for shorts to reload 666
,our +our <iew
4ooing left this 10262-A(0 level has been pivotal resistance since ,ebruary6 1scillators say its
liely to hold today too6 "ac above and holding above is bullish6
EURGBP
Daily view
"ullish bat fibonacci pattern still in play targets return to 0634
'etest of the inverse head and shoulders pattern gives a nice long entry6
4 hour chart view
0nverse head and shoulder bullish reversal still the trade to watch6 0nverse patterns with
downward sloping neclines perfor5 better but that does not negate this pattern7 it is August
after all6
USDCHF
Daily view6
Consolidation days inside of ,ridays big drop6 Two weely shooting star do?is warn of bearish
reversal6
The topping price action and bearish bat fibonacci pattern favour shorts6 'esistance beco5es
support at the )une highs at 069010 but first target for the fibonacci pattern is 0639--
,our +ourly view
4ooing for 903( to hold as resistance for another leg lower this 5orning6 Above that level sets
up a retest of the range highs at 910(6
EURJPY
Daily view
,riday=s bullish candle off good support triggered longs yesterday and now we appear to be
doing so5e bac and fill6 4ong targets re5ain 1(8620
,our +ourly view
/atching for an interi5 botto5ing pattern7 rather than downtrend continuation support lies at
1(8640 and 1(8618
GOLD
Daily view
$till waiting for follow through of ,ridays bearish shooting star7 we have gone sideways6 4ooing
for lower to test the breaout level of 129-A1(00
4ongs waiting to reload long there
,our +ourly view
0f too 5any people are looing at this pattern then the false trigger short 5ay ?ust send it
higher today without looing bac B 0f it does trigger short still waiting for 129-A1(00
#pside targetsCresistance at 1((1 and 1(43 if we 5ae new highs
OIL #$ /T0 crude
Daily <iew
0f we botto5 9820A40 then its an A"C or A"DCD correction which is bullish and we will be bac
above 100 in short order and looing for new 2014 highs so what we do here is ey
,our +ourly view
$till looing for a botto5 and a brea of this consolidation6 'esistance is at 906(0 and ey
support for bulls 98613A40
DAX
The >arch low has not been broen to eep the uptrend intact for now6 )ust6
Daily view
"ullish piercing line candle pattern in play we have hit fibonacci resistance buying dips still
favoured for a 5ini5u5 target of 9((- then 9820
,our +ourly view
At the 918.A91.0 pivot which we need to clear for higher6
$upport at 903- % 908-
S&P
Daily view
Continuous rally with shallow pullbacs off ,riday 5ornings low suggests too 5any shorts or a
bit of a sEueeFe6 /e have gone straight to the -0@ retrace5ent of the decline fro5 24)ul14
high6 $horts who believe the high is in will loo to reload here for a trend 5ove to new lows so
eGpect so5e bac and forth
,our +ourly view
,urther resistance at 1949 % 19-4
'esistance $upport 191.7 below that we retest ,ridays low6
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