Coleen's Technical Analysis

[Coleen]

The USD/JPY pair traded at 98.96 Yen, a gain of 0.3%, adding to Thursday’s 1% rise. The EUR/USD pair eased back to $1.3345, a loss of 0.1%, while the EUR/JPY traded 0.1% higher to 132.04 Yen adding to the better than 1% gain from yesterday. The U.S. Dollar Index traded at a session high of 81.719 .DXY and was recently 0.3% higher at 81.449 .DXY; investors use the U.S. Dollar Index to gauge the greenback’s strength relative to major peers which include among others the Euro and the Yen.

EUR/USD Performance Tracker:
• 5-Day: +0.24 percent
• 30-Day: +1.32 percent
• Year-to-Date: +1.03 percent
• Outlook: Slightly Bearish
• Support levels: 1.3370, 1.3337, 1.3303
• Resistance levels: 1.3501, 1.3535, 1.3569

 

[Coleen]

US DOLLAR TECHNICAL ANALYSIS – Prices put in a Spinning Top candlestick below resistance at 10760. Range support is at 10646, with a break below that targeting the bottom of a falling channel set from early July (now at 10581). A reversal above 10760 aims for the channel top at 10804.

EURUSD:
If start bullish movement take profit will be at the level 1.3410 and stop loss at the level 1.3315. In case of bearish movement take profit at the level 1.3257 and stop loss 1.3394.

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GOLD ANALYSIS – Prices overturned bearish reversal cues noted last week, pushing higher to challenge resistance at the 76.4% Fibonacci expansion (1400.72). A break this barrier targets a rising channel top at 1423.17, followed by the 100% level at 1440.23. Near-term support is at 1376.28, the intersection of the channel bottom and the 61.8% Fib.

USDJPY:
Strategy of trading:

If there is bullish movement than target of buying will be 101.11 otherwise take profit of selling will be 97.981.

Results of trading on
2013.08.19 11:36
sell 0.10 gbpusd
started point: 1.56428
closed at: 2013.08.23 20:01
closed point:1.55766
swap: -1.68
Results: 66.20

GBPUSD:
If the price begins uprend than take profit will be at the level 1.5620 and stop loss at the level 1.5506. In case of bearish movement take profit at the level 1.5457 and stop loss 1.5625.