Daily forex technical analysis report 01-04-2014

Please do not print this report unless it is absolutely necessary. Save a tree. Date: 01/04/2014

www.sevenstarfx.com

MARKET WATCH A leading online forex broker that offers

most constructive updates about forex market that helps you to recognize right possibilities to make profit. Get daily updates of market watch about Metals like Gold, Silver, Copper, Energy, and Foreign Currencies like Euro, Great Britain Pound, USD and many more…

Daily Technical Analysis Report


www.sevenstarfx.com

GOLD ST Trend Down

Obj: 1284.00- TRP: 1350.40

DECEMBER FUTURE LEVEL1 LEVEL2 LEVEL3

RESISTANCES 1304.50 1319.00 1328.50*

SUPPORTS 1273.00- 1273.00- 1265.20*

Comment: The market is bearish, dropping selloffs to the upper edges of the 1284-1275 target

zone. Sustained action under 1308- should help propel selloffs. Any corrections should try to

setup a bear flag and stay under 1320-. A reluctance to climb over 1320 will encourage

selloffs. A close over 132850* is needed for a near term flip up with retracements back to

135040*.

SILVER ST Trend Down

Obj: 19.520 TRP: 20.950


RESISTANCES 19.815 20.055 20.315

SUPPORTS 19.600- 19.500 -

Comment: The market is short term bearish and warns for a slide to 1952-. A close under

1945 will send declines against old lows from Dec-January. If trade is reluctant to extend

under 1950 by mid-week, be alert for a bounce into several corrective days, likely starting

flagging congestion up around 2030. Closes over 2061 and 2095* are needed to signal a bullish

turn.

COPPER ST Trend Sdwys /Down

Obj: 2.7100 TRP: 3.0885


RESISTANCES 3.0460 3.0885* -

SUPPORTS 3.0095 2.9865 2.9595

Comment: Overall the market is still bearish and drop below 29595 could resume declines to

Commodities | Precious - Metals


www.sevenstarfx.com

test at 290-. A close under 28770 is needed to add to washouts to 271. Friday’s push over 303

suggests a friendly upturn from congestion and could motivate corrections to test at 30885*

resistance for a bottoming turn. Be careful for a setback from 30885*.


www.sevenstarfx.com

CRUDE OIL ST Trend Sdwys/Down

Obj: None TRP: 98.99

JANUARY FUTURE LEVEL1 LEVEL2 LEVEL3

RESISTANCES 101.62* 102.24 103.60+

SUPPORTS 100.81 100.40 98.99*

Comment: The market is up against 10162* resistance, challenging for a larger advance. A

close over 10162* projects rallies to push into the early March swing high. However, be

careful for a rejection around 10162* that could drive trade back into corrections along 100-. A

close under 9899* is needed for a reversing turn to lower levels.

NATURAL GAS ST Trend Sdwys

Obj: 4.200 TRP: 44.81


RESISTANCES 4.060 4.481* 4.650

SUPPORTS 4.330 4.260 4.256

Comment: The rejection of last week’s upturn cautions for additional reactionary selloffs to

attack the last swing low. A penetration under the 4256 low implies a selling wave into the

4200-4100 range. Trade may try to creep back higher, but mostly expect sideways congestion. A

close over 4481* is needed to flip the trend bias back up.

Commodities | ENERGY


www.sevenstarfx.com

MINI S&P ST Trend Up

Obj: 1821.00 TRP: 1860.50


RESISTANCES 1871.00 1880.50 -

SUPPORTS 1859.75 1847.00* -

Comment: The push higher on Monday flips the short term trend bias up and calls for rallies

to attack against recent swing highs. A close over 1871 and 188050 are bullish and project a

drive to over 1900+. Any corrective dips should fight to hold around 1850- and only a close

under 1847* should rekindle short term negative trend forces.

MINI DOW ST Trend Up

Obj: None TRP: 16094


RESISTANCES 16398 16439 -

SUPPORTS 16295 16228 16094*

Comment : The market posture retains a short term bull bias, signaling for a secondary drive

to challenge previous swing highs over 16400+. A breakout at new highs is needed to launch

advances. Near term congestion may slip and extend sideways congestion along 16200-, but

only a close under 16098* signals a turn to bear trending trade.

MINI NASDAQ ST Trend Up

Obj: 3531.00 TRP: 3669.00


RESISTANCES 3606.50 3612.00 3669.00*

SUPPORTS 3553.00 3531.00 3488.00-

Comment: The market is showing topping / bearish signals and open to declines at 353100 and

possibly lower. Trade is positioned to again extend selloffs. Any further minor corrections

T Bonds | INDICES


www.sevenstarfx.com

should continue to struggle to get over 360000+ and sideways action will bear flag. Only a close

over 366900* rekindles bull trend forces.


www.sevenstarfx.com

SOYBEANS ST Trend Sdwys/Up

Obj: 1490.00+ TRP: 1427.75


RESISTANCES 1490.00+ 1516.00 1545.00+/-

SUPPORTS 1443.00 1436.00 1427.00

Comment: The market triggered a bull breakout over recent congestion / swing highs,

opening up the formation for another significant bull wave to 1490+ and potentially up

around 1545+/-. Stable action over the previous 1460 high could prompt strong rallies. Any

corrective dips should find support back in previous congestion just under 1450-. Only a close

under 1427 3/4* negates the breakout signal.

SOYMEAL ST Trend Sdwys/Up

Obj: 497.70 TRP: 461.10

JANUARY FUTURE LEVE1 LEVEL2 LEVEL3

RESISTANCES 482.00+ 491.50 497.70

SUPPORTS 474.00 469.90 461.10*

Comment: The market is bullish, showing a breakout into new highs and signaling for a

drive to 49770. Trade is positioned for aggressive rallies the next few days. Any corrective

dips should fight to hold within Monday’s range to maintain the upside breakout signals.

Only a close under 46110* highlights a topping turnover.

SOYBEAN OIL ST Trend Sdwys/Up

Obj: 40.16 TRP: 42.06


RESISTANCES 40.84 41.20 41.31

SUPPORTS 40.30 40.16* 39.85

Comment: The market is bearish, but on Monday dropped against the bear target at 4016*

retracement support. A close under 4016* is bearish, but Monday’s bounce from under 4016*

Commodities | GRAINS


www.sevenstarfx.com

hints for a short term extreme low. Be alert for corrections back through recent down sloping

congestion. A push over 4131 could spark rebounds towards the 4206* resistance level.


www.sevenstarfx.com

WHEAT ST Trend Down


MARCH FUTURE LEVEL1 LEVEL2 LEVEL3

RESISTANCES 705.00 708.00 713.00

SUPPORTS 690.00* 682.00 676.00

Comment : The market remains in a bull trend. However, a breakout over 713 1/2 is needed

to rekindle bull trending action and pop over last week’s high is the trigger for a blow off run

over 750+. Suspect additional corrections. A close under 690* marks a reversal into topping

trade for a likely retracement selloff into the 670-660 levels.

CORN ST Trend Down

Obj: 515.00+ TRP: 472.00


RESISTANCES 502.00 515.00+ -

SUPPORTS 495.00 492.00- 486.00

Comment: Yesterday’s outside bull day triggers an upside breakout over recent sideways

flagging congestion and creates potential for a significant bull wave to 515+. Sustained action

over the 502 1/2 high will encourage rallies. Any corrective dips or consolidation should hold in

the upper half of yesterday’s rally. Only a close under 486 1/4* signal a reversing turn to the

downside.


www.sevenstarfx.com

SUGAR ST Trend Down



RESISTANCES 18.03+ 18.22 18.47

SUPPORTS 17.64 17.46 17.44

Comment: The surging rallies late last week signals a bull turn and calls for a secondary

advance to attack the last swing high. Trade is poised for rallies. A breakout over 1847 could

launch a sustained bull drive over 1900+. Be prepared for a minor pullback from the 1803-

1810 area that could lead into a few consolidation days. Any dips should fight to hold just

under 1750- to maintain bull forces from last week’s upturn.

COFFEE ST Trend Sdwys/Up

Obj: 159.50- TRP: 193.05


RESISTANCES 181.65 183.30* 193.05*

SUPPORTS 175.00 173.60 166.00

Comment : The market remains bearish and drop from last week’s flagging action suggests a

larger selling wave to below 160-. We may see continued flagging action, but any corrections

should struggle to rally over 18330*. Tight congestion below 18330* will setup for selloff

attempts. A drop under 17360 could resume selloffs / bear trending.

COCOA ST Trend Up



RESISTANCES 2992.00* 3006.00 3039.00

SUPPORTS 2946.00 2931.00 2918.00

Comment: The market is caught in congestion. A close under 2918 could open up a larger

Commodities | SOFTS


www.sevenstarfx.com

selling wave. Friday’s outside bull day may lead to secondary rallies, but key on a close over

2992* to rekindle bull trend forces and drive trade to attack the last swing high.


www.sevenstarfx.com

COTTON ST Trend Down

Obj: 89.64 TRP: 94.86


RESISTANCES 94.86* 96.50 97.35

SUPPORTS 91.74 90.11 89.64*

Comment: Last Wednesday’s reversal still signals a negative flip in the short term trend and

calls for pressured trade to test a key 8964* support. A close under 8964* marks a multi-week

peaking turn and should foster selloffs to 8600-. Residual bull forces are trying to lift trade back

into the bull drive. A close over 9486* will rekindle bull trend forces. Sideways consolidation

under 9486* will lead into another selloff.


www.sevenstarfx.com

EURO ST Trend Sdwys/Down

Obj: 1.3666 TRP: 1.3866


RESISTANCES 1.3809 1.3810 1.3866*

SUPPORTS 1.3729 1.3702 1.3666*

Comment : Down sloping trade signals a bear turnover and potential for selloffs to 13666*. A

drop under Friday’s low should drive follow through selloffs against 13666*. Current

corrections should stall around 13800+/- to stay aligned for selloffs. A close over 13866* is

needed for a reversing turn back to higher levels.

B POUND ST Trend Sdwys/Up



RESISTANCES 1.6672* 1.6765 1.6773

SUPPORTS 1.6600- 1.6555 1.6539*

Comment: The climb back into previous peaking congestion negates bear forces and leaves

trade up around the balance point between bull / bear trend forces. A close over 16672* will

trigger a reversing turn back to higher prices, sending trade to attack for a breakout over

previous swing highs. A rejection from 16672* could prompt dips under 166-, but a close

below 16539* is needed to recapture bear trend forces.

J YEN ST Trend Down

Obj: 0.9617 TRP: 0.9802


RESISTANCES 0.9752 0.9783 0.9802*

SUPPORTS 0.9697 0.9660- 0.9617

Comment: The market is triggering a bear flag downturn from a week and half sideways

flagging congestion, signaling for selloffs to 9617 as well as potential to test basing levels under

Forex | CURRENCIES


www.sevenstarfx.com

9600-. A press below 9697 will encourage selloffs. Only a close back over 9802* reverses trade

back to the upside.


www.sevenstarfx.com

AUSSIE$ ST Trend Down

Obj: 0.9362 TRP: 0.8988


RESISTANCES 0.9244 0.9280 0.9362+

SUPPORTS 0.9176 0.9112 0.9075-

Comment: The market shows a bottoming upturn, signaling for a potential run to 9362. Any

corrective dips should hold along the upper edges of recent congestion at 9075- to keep a

friendly alignment. Likely any 2- 3 day congestion off 9075 will bull flag. Only a close under

8988* marks a reversing turnover.

CANADIAN$ ST Trend Sdwys/Down



RESISTANCES 0.9069 0.9074 0.9111

SUPPORTS 0.9002 0.8980 0.8932*

Comment: The climbing moves over the past week signal a short term upturn. A breakout

surge over 9069 suggests a drive to 9150-9200. Trade is poised for rallies, but Fri-Monday’s

rejections from just over 9069 cautions for a minor slip to sideways congestion along 9000 as

trade consolidates gains. Tight congestion days should bull flag. A close under 8932*

rekindles bear trend forces.

SWISS FRANC ST Trend Sdwys

Obj: 1.1219 TRP: 1.1409


RESISTANCES 1.1337 1.1409* -

SUPPORTS 1.1271 1.1244 1.1219

Comment: The market shows a bottoming upturn, signaling for a potential run to 9362. Any

corrective dips should hold along the upper edges of recent congestion at 9075- to keep a

friendly alignment. Likely any 2- 3 day congestion off 9075 will bull flag. Only a close under

8988* marks a reversing turnover.


www.sevenstarfx.com

Disclaimer: This Report Is only for General Information. Opinions/Estimates Contained Herein is Subject to

Change without Notice. The Data/Information Herein Provided Is Believed to Be Reliable But Does Not Warrant

for Its Accuracy/Completeness. We are Not Liable for Any Action Taken by Any Party Based on the above

Information. This Material Is Not Intended As An Offer Or

Solicitation for the Purchase or Sale of Any Financial Instrument.

Daily forex technical analysis report 01-04-2014

Economy & Finance

Transcript of Daily forex technical analysis report 01-04-2014