Forex Trend Prediction July 17, 2013
USD/CAD 17/7/2013
1 week Trend: (=) 1 month Trend:
(=)
USD/CAD intraday: break of a ST rising trendline support.
Pivot: 1.044
Our preference: Short positions below 1.044 with targets @ 1.0355 & 1.0325 in extension.
Alternative scenario: Above 1.044 look for further upside with 1.047 & 1.052 as targets.
Comment: as long as 1.044 is resistance, look for choppy price action with a bearish bias.
Key levels
1.052
1.047
1.044
1.0392 last
1.0355
1.0325
1.025
AUD/USD 17/7/2013
1 week Trend: (=) 1 month Trend:
(=)
AUD/USD intraday: bullish bias above 0.912.
Pivot: 0.912
Our preference: Long positions above 0.912 with targets @ 0.9305 & 0.934 in extension.
Alternative scenario: Below 0.912 look for further downside with 0.903 & 0.9 as targets.
Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
Key levels
0.94
0.934
0.9305
0.92119 last
0.912
0.903
0.9
NZD/USD 17/7/2013
1 week Trend: (=) 1 month Trend:
(=)
NZD/USD intraday: further upside.
Pivot: 0.779
Our preference: Long positions above 0.779 with targets @ 0.797 & 0.8 in extension.
Alternative scenario: Below 0.779 look for further downside with 0.773 & 0.768 as targets.
Comment: the next resistances are at 0.797 and then at 0.8.
Key levels
0.805
0.8
0.797
0.7856 last
0.779
0.773
0.768
EUR/GBP 17/7/2013
1 week Trend: (=) 1 month Trend:
(=)
EUR/GBP intraday: intraday support around 0.864.
Pivot: 0.864
Our preference: Long positions above 0.864 with targets @ 0.871 & 0.8725 in extension.
Alternative scenario: Below 0.864 look for further downside with 0.8605 & 0.8575 as targets.
Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
Key levels
0.8745
0.8725
0.871
0.86501 last
0.864
0.8605
0.8575
Gold 17/7/2013
1 week Trend: (=) 1 month Trend:
(=)
GOLD (Spot) intraday: further upside.
Pivot: 1276.00
Our preference: LONG positions above 1276 with 1298 & 1320 in sight.
Alternative scenario: The downside penetration of 1276 will call for 1267 & 1247.
Comment: a break above 1298 would have strong bullish implications.
Trend: ST Ltd downside; MT Bearish
Key levels Comment
1338** Intraday resistance
1320** Fib retracement (61.8%)
1298*** Previous high
1284.82 Last
1276** Intraday pivot point
1267** Intraday support
1247** Intraday support
Technical Analysis – Time MetaTrader4
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