Daily Forex Technical Analysis Report – 16-04-2014

Please do not print this report unless it is absolutely necessary. Save a tree. Date: 16/04/2014

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Daily Technical Analysis Report


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GOLD ST Trend Down

Obj: 1296.60, 1260.20 TRP: 1331.40

DECEMBER FUTURE LEVEL1 LEVEL2 LEVEL3

RESISTANCES 1311.06 1312.65 -

SUPPORTS 1292.43 1260.20 -

Comment : Computer: Yesterday's action has changed the minor trend for June Gold to down

with very recent trade looking a bit soft. We have currently traded below the first swing

target for this market (1296.60). The next objective is 1260.20. A reversal and rally through

1331.40 is needed to change this pattern. Historical analysis of this minor swing pattern

shows a definite bearish bias for today's action, with the odds of this market taking out

yesterday's low in the next two trading sessions around 69 percent.

SILVER ST Trend Down

Obj: 19.4600, 1930.00 TRP: 20.1400


RESISTANCES 19.7790 19.8207 -

SUPPORTS 19.3217 18.8150 -

Comment: Computer: Yesterday's action has changed the minor trend for May Silver to

down with very recent trade looking a bit soft. We have taken out all minor downside target

objectives for this pattern and are now looking to test intermediate target levels. Historical

analysis of this minor swing pattern shows a definite bearish bias for today's action, with the

odds of this market taking out yesterday's low in the next two trading sessions around 70

percent.

Commodities | Precious - Metals


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COPPER ST Trend Sdwys /Down

Obj: 2.9340, 2.8730 TRP: 3.0800


RESISTANCES 3.0183 3.0249 -

SUPPORTS 2.9644 2.9285 -

Comment: Computer: Yesterday's action has changed the minor trend for May Copper to down

with very recent trade looking a bit soft. The downside objectives for this formation range from

293.40 to 287.30, with a rally through 308.00 needed to negate the pattern. Historical analysis of

this minor swing pattern shows a definite bearish bias for today's action, with the odds of this

market taking out yesterday's low in the next two trading sessions around 69 percent.


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CRUDE OIL ST Trend Sdwys/Down

Obj: 102.09, 101.47 TRP: 104.55

JANUARY FUTURE LEVEL1 LEVEL2 LEVEL3

RESISTANCES 104.49 104.67

-

SUPPORTS 103.04 102.61 -

Comment: Computer: Yesterday's action has changed the minor trend for May Crude Oil to

down with very recent trade looking neutral. The downside objectives for this formation

range from 102.09 to 101.47, with a rally through 104.55 needed to negate the pattern.

Historical analysis of this minor swing pattern shows no discernible bias for today's action,

with the odds of this market closing above yesterday's close in the next two trading sessions

around 61 percent.

NATURAL GAS ST Trend Sdwys

Obj: 4.810, 4.895 TRP: 4.404



SUPPORTS 4.506 4.496 -

Comment: Computer: The minor trend for May Natural Gas remains up but with very recent

action looking a bit soft. The upside target zone for this pattern is from 48.10 to 48.95, with a

penetration of 44.04 needed to negate the formation. Historical analysis of this minor swing

pattern shows a slightly negative bias for today's action, with the odds of this market taking out


Commodities | ENERGY


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MINI S&P ST Trend Up

Obj: 1779.75, 1762.50 TRP: 1867.50


RESISTANCES 1850.83 1859.00 -

SUPPORTS 1827.47 1818.38 -

Comment: Computer: The minor trend for June E-Mini S&P 500 remains down but with very

recent action looking strong. The downside objectives for this formation range from 1779.75

to 1762.50, with a rally through 1867.50 needed to negate the pattern. Historical analysis of

this minor swing pattern shows a slightly positive bias for today's action, with the odds of

this market taking out yesterday's high in the next two trading sessions around 68 percent.

MINI DOW ST Trend Up

Obj: 15754, 15505 TRP: 16384


RESISTANCES 16299 16366 -

SUPPORTS 16113 16040 -

Comment : Computer: The minor trend for June Mini Dow Jones remains down but with

very recent action looking strong. The downside objectives for this formation range from

157.54 to 155.05, with a rally through 163.84 needed to negate the pattern. Historical analysis

of this minor swing pattern shows a slightly positive bias for today's action, with the odds of

this market taking out yesterday's high in the next two trading sessions around 68 percent.

MINI NASDAQ ST Trend Up

Obj: 3405.00, 3349.50 TRP: 3599.50


RESISTANCES 3518.91 3527.13 -

SUPPORTS 3454.65 3425.75 -

T Bonds | INDICES


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Comment: Computer: The minor trend for June E-Mini Nasdaq 100 remains down with very

recent action looking neutral. The next objective is 3349.50.. Yesterday's outside reversal signals

the likelihood that breaks into the 3448.00 area should be well supported for the next couple of

days. Historical analysis of this minor swing pattern shows a slightly positive bias for today's

action, with the odds of this market closing above yesterday's close in the next two trading

sessions around 63 percent.


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SOYBEANS ST Trend Sdwys/Up

Obj: 1491.75, 1535.75 TRP: 1444.25


RESISTANCES 1502.02 1517.75 -

SUPPORTS 1477.46 1475.24 -

Comment: Computer: Yesterday's rally has taken the market to new contract highs. The

minor trend for July Soybeans remains up with very recent action looking strong. A reversal

and penetration of 1444.25 is needed to negate the pattern. Historical analysis of this minor

swing pattern shows a very negligible negative bias for today's action, with the odds of this

market closing above yesterday's close in the next two trading sessions around 62 percent.

SOYMEAL ST Trend Sdwys/Up

Obj: 479.70, 495.60 TRP: 461.80

JANUARY FUTURE LEVE1 LEVEL2 LEVEL3


SUPPORTS 470.98 470.42 -

Comment: Computer: Yesterday's action has changed the minor trend for July Soybean Meal

to up with very recent trade looking firm. The upside target zone for this pattern is from

479.70 to 495.60, with a penetration of 461.80 needed to negate the formation. Historical

analysis of this minor swing pattern shows a slightly positive bias for today's action, with the

odds of this market taking out yesterday's high in the next two trading sessions around 67

percent.

SOYBEAN OIL ST Trend Sdwys/Up

Obj: 43.85, 44.31 TRP: 42.01



Commodities | GRAINS


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SUPPORTS 42.68 42.60 -

Comment: Computer: The minor trend for July Soybean Oil remains up with very recent action

looking strong. The upside target zone for this pattern is from 43.85 to 44.31, with a penetration

of 42.01 needed to negate the formation. Historical analysis of this minor swing pattern shows a

very negligible negative bias for today's action, with the odds of this market closing above

yesterday's close in the next two trading sessions around 62 percent.


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WHEAT ST Trend Down

Obj: 726.75, 734.63 TRP: 663.75

MARCH FUTURE LEVEL1 LEVEL2 LEVEL3


SUPPORTS 700.80 698.46 -

Comment : Computer: The minor trend for July Wheat remains up with very recent action

looking strong. The upside target zone for this pattern is from 726.75 to 734.63, with a

penetration of 663.75 needed to negate the formation. Look for support today from 700.80 to

698.46 and resistance between 720.42 and 736.38. Historical analysis of this minor swing

pattern shows a definite bullish bias for today's action, with the odds of this market taking

out yesterday's high in the next two trading sessions around 70 percent.

CORN ST Trend Down

Obj: 548.75, 486.50 TRP: 499.75



SUPPORTS 504.55 503.23 -

Comment: Computer: Yesterday's action has changed the minor trend for July Corn to neutral

with very recent trade looking firm. Initial swing targets for this range are 548.75 on the upside,

or 486.50 if a breakdown occurs. Look for support today from 504.55 to 503.23 and resistance

between 514.83 and 515.79. Historical analysis of this minor swing pattern shows a slightly

negative bias for today's action, with the odds of this market taking out yesterday's low in the

next two trading sessions around 66 percent.


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SUGAR ST Trend Down

Obj: 16.97, 16.82 TRP: 17.93



SUPPORTS 17.27 17.22 -

Comment: Computer: The minor trend for July Sugar remains down with very recent action

looking neutral. The downside objectives for this formation range from 16.97 to 16.82, with a

rally through 17.93 needed to negate the pattern. Look for support today from 17.27 to 17.22

and resistance between 17.64 and 17.68. Historical analysis of this minor swing pattern shows

a slightly positive bias for today's action, with the odds of this market taking out yesterday's

high in the next two trading sessions around 66 percent.

COFFEE ST Trend Sdwys/Up

Obj: 213.00, 227.30 TRP: 192.40



SUPPORTS 190.54 182.15 -

Comment : Computer: The minor trend for July Coffee remains up but with very recent

action looking weak. The upside target zone for this pattern is from 213.00 to 227.30.

Yesterday's outside reversal signals the likelihood that rallies into the 202.53 area should meet

with good selling pressure for the next couple of days.

COCOA ST Trend Up

Obj: 2954.00, 2935.00 TRP: 3015.00


RESISTANCES 3002.00 3006.00 -

SUPPORTS 2957.00 2952.00 -

Comment: Computer: Yesterday's action has changed the minor trend for July Cocoa to down

Commodities | SOFTS


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with very recent trade looking a bit soft. The downside objectives for this formation range from 29.54 to 29.35, with a rally through 30.15 needed to negate the pattern. Historical analysis of this minor swing pattern shows a very negligible positive bias for today's action, with the odds of this market closing above yesterday's close in the next two trading sessions around 63 percent.


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COTTON ST Trend Down

Obj: 89.45, 87.13 TRP: 92.91



SUPPORTS 90.46 89.52 -

Comment: Computer: Yesterday's action has changed the minor trend for July Cotton to down

with very recent trade looking a bit soft. The downside objectives for this formation range from

89.45 to 87.13, with a rally through 92.91 needed to negate the pattern. Historical analysis of this

minor swing pattern shows a slightly negative bias for today's action, with the odds of this

market taking out yesterday's low in the next two trading sessions around 64 percent.


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EURO ST Trend Sdwys/Down

Obj: 1.4019, 1.4021 TRP: 1.3669



SUPPORTS 1.3771 1.3753 -

Comment : Computer: The minor trend for June Euro remains up but with very recent action

looking weak. The upside target zone for this pattern is from 140.19 to 140.21, with a

penetration of 136.69 needed to negate the formation. Look for support today from 137.71 to

137.53 and resistance between 138.43 and 138.47. Historical analysis of this minor swing

pattern shows a slightly negative bias for today's action, with the odds of this market taking

out yesterday's low in the next two trading sessions around 65 percent.

B POUND ST Trend Sdwys/Up

Obj: 1.6907, 1.6984 TRP: 1.6545



SUPPORTS 1.6671 1.6633 -

Comment: Computer: The minor trend for June British Pound remains up with very recent

action looking neutral. The upside target zone for this pattern is from 169.07 to 169.84, with a


pattern shows a slightly negative bias for today's action, with the odds of this market taking

out yesterday's low in the next two trading sessions around 65 percent.

J YEN ST Trend Down

Obj: 0.9886, 0.9940 TRP: 0.9806



Forex | CURRENCIES


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SUPPORTS 0.9789 0.9785 -

Comment: Computer: The minor trend for June Yen remains up but with very recent action

looking a bit soft. The upside target zone for this pattern is from 98.86 to 99.40, with a

penetration of 98.06 needed to negate the formation. Look for support today from 97.89 to 97.85

and resistance between 98.56 and 98.66. Historical analysis of this minor swing pattern shows a

slightly positive bias for today's action, with the odds of this market taking out yesterday's high

in the next two trading sessions around 67 percent.


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AUSSIE$ ST Trend Down

Obj: 0.9288, 0.9259 TRP: 0.9285



SUPPORTS 0.9282 0.9238 -

Comment: Computer: Yesterday's action has changed the minor trend for June Australian$ to

down with very recent trade looking a bit soft. The downside objectives for this formation

range from 92.88 to 92.59, with a rally through 93.85 needed to negate the pattern. Historical

analysis of this minor swing pattern shows a definite bearish bias for today's action, with the

odds of this market taking out yesterday's low in the next two trading sessions around 70

percent.

CANADIAN$ ST Trend Sdwys/Down

Obj: 0.9001, 0.8939 TRP: 0.9195



SUPPORTS 0.9065 0.9048 -

Comment: Computer: Yesterday's action has changed the minor trend for June Canadian$ to

down with very recent trade looking a bit soft. The downside objectives for this formation

range from 90.01 to 89.39, with a rally through 91.95 needed to negate the pattern. Historical

analysis of this minor swing pattern shows no discernible bias for today's action, with the

odds of this market closing above yesterday's close in the next two trading sessions around 61

percent.

SWISS FRANC ST Trend Sdwys

Obj: 1.1541, 1.1609 TRP: 1.1179



SUPPORTS 1.1329 1.1316 -

Comment: Computer: The minor trend for June Swiss Franc remains up but with very recent


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action looking weak. The upside target zone for this pattern is from 115.41 to 116.09, with a


pattern shows a slightly negative bias for today's action, with the odds of this market taking out


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

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Daily Forex Technical Analysis Report – 16-04-2014