Daily forex technical analysis report – 04 04-2014

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

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: 1265.00 TRP: 1321.20

DECEMBER FUTURE LEVEL1 LEVEL2 LEVEL3

RESISTANCES 1295.00 1297.60 1321.20*

SUPPORTS 1281.50 1277.00 1265.20*-

Comment: The market is bearish, but trying to correct off the 1284-1275 target zone. Be ready

for modest rebounding or corrective days. Any corrections should try to setup a bear flag and

stay under 1305. A close over 132120* is needed to secure a short term turnaround and spark

retracements against the recent selloff. Suspect one more bear leg with a close under 1277

warns for a drop to the 126520*-1262 area.

SILVER ST Trend Down

Obj: 19.520 TRP: 20.950


RESISTANCES 20.120 20.315 20.585

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 3.0420 3.0700 3.0885*

SUPPORTS 3.0095 2.9945 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. The current recovery

suggests rising congestion to force a 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 100.58 101.11 101.62*

SUPPORTS 98.99* 98.40- 96.36*

Comment: The market is caught between 9899* support and 10162* resistance. A close under

9899* alerts for a short term bear turnover and larger selling wave to 9800-9700 and possibly

9636*. Yesterday’s bounce off 9899*+/- gives a slight bull bias for today. However, a close

over 10162* is needed for a critical upturn to higher prices.

NATURAL GAS ST Trend Sdwys

Obj: 4.636 TRP: 4.321


RESISTANCES 4.487 4.568 4.636*

SUPPORTS 4.413 4.366 4.321*

Comment: The past two day rebound is twisting short term trend forces up and hints for

climbing moves to 4636*. Be prepared for near term sideways congestion along 4400+/- as trade

works to turn trend momentum forces up. Stable action over 4321* will build for rallies. Only a

close under 4321* rekindles bear trend forces.

Commodities | ENERGY


www.sevenstarfx.com

MINI S&P ST Trend Up

Obj: 1900.00+ TRP: 1854.25


RESISTANCES 1900.00+ - -

SUPPORTS 1874.75 1868.00 -

Comment: The breakout push into new highs provides short term bull signals, projecting a

drive to over 1900+. Be ready for follow through rallies. Any corrective dips should fight to

stay around breakout levels in the 1870's. A slip under 186725 is negative for the day, but only

a close under 185375* reverses the market to topping trade action.

MINI DOW ST Trend Up

Obj: 16760+ TRP: 16147


RESISTANCES 16580 16760 16800

SUPPORTS 16419 16360+/- 16271*

Comment :

MINI NASDAQ ST Trend Up

Obj: 3531.00 TRP: 3669.00


RESISTANCES 3650.25 3669.00* 3700.00+

SUPPORTS 3606.00 3580.00* -

Comment: The market is still in a bear trend, but rebounding action alerts for recovery moves to

test around 366900*+/-. A close over 366900* signals a bull turn, projecting a run back over

370000+. If rally attempts are rejected around 366900*, be ready for a slide back through

Tuesday’s upturn, but a close under 358000* is needed to rekindle bear trending.

T Bonds | INDICES


www.sevenstarfx.com

SOYBEANS ST Trend Sdwys/Up



RESISTANCES 1490.00+ 1516.00 1545.00+/-

SUPPORTS 1454.00- 1438.00 -

Comment: The market is in a bull drive, but yesterday’s rally hit the expected target at 1490+.

The formation retains potential, but look for a close over 1490 to send a push up around

1545+/-. Yesterday’s back off from over 1490+ cautions for a slip into a few flagging

congestion days. Trade should find support back along the upper edges of previous

congestion. Only a close under 1438 3/4* negates the breakout signal.

SOYMEAL ST Trend Sdwys/Up

Obj: 497.70 TRP: 463.40

JANUARY FUTURE LEVE1 LEVEL2 LEVEL3

RESISTANCES 485.10 491.50 497.70

SUPPORTS 472.30 469.90 463.40*

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 46340* highlights a topping turnover.

SOYBEAN OIL ST Trend Sdwys/Up



RESISTANCES 41.76 42.06* 42.35

SUPPORTS 41.22 40.80* 40.43

Comment: Wednesday’s reversal rejected the corrective rally at 4206*+ and the sharp retreat

into the close warns for a shift into defensive congestion trade for the next few days. A close

Commodities | GRAINS


www.sevenstarfx.com

under 4057 could send a drop to again test 4016* weekly support. Only a close over 4176* will

boost trade to challenge 4206* resistance again and attempt sustained advances.


www.sevenstarfx.com

WHEAT ST Trend Down

Obj: 658.00 TRP: 701.25

MARCH FUTURE LEVEL1 LEVEL2 LEVEL3

RESISTANCES 682.00 688.00 701.00

SUPPORTS 666.00 658.00 -

Comment : The market is in short term topping selloffs and open for a selling leg down to 658

1/2. Be ready for continued aggressive selloffs today, but a stall around 658 1/2+/- could

prompt a near term bounce to start corrections. Any rally attempts will likely struggle inside

Tuesday’s range. A close over 701 1/4* is needed for a reversing upturn. A close under 658

1/2 warns for a larger unfolding selloff to 640-.

CORN ST Trend Down

Obj: 515.00+ TRP: 489.50


RESISTANCES 501.00 506.00 515.00+

SUPPORTS 492.00 489.00 -

Comment: Monday’s bull day still indicates an upside breakout over recent sideways flagging

congestion and creates potential for a significant bull wave to 515+. Yesterday’s corrective

setback has trade testing back against previous flagging levels. Trade should hold 489 1/2* to

maintain a bull posture. A surge over 507 1/2 will likely spark rallies. Only a close under 489

1/2* signal a reversing turn to the downside.


www.sevenstarfx.com

SUGAR ST Trend Down



RESISTANCES 17.26 17.50 17.60*

SUPPORTS 16.87 16.80- 16.49-

Comment: This week’s drop off signals a short term bear reversal with a chance for sustained

choppy declines to 1650. Trade is poised for selloffs, but modest recovery / congestion action

over 1680 could prompt sideways higher consolidation inside the lower half of Tuesday’s

downturn for bear flag congestion today-Monday. Only a close over 1760* rekindles bull

trend forces.

COFFEE ST Trend Sdwys/Up

Obj: 159.50- TRP: 193.05


RESISTANCES 175.80 178.00 183.30*

SUPPORTS 167.20 166.00 159.50

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

larger selling wave to below 160-. We may see attempts to hold sideways in flagging action,

but any corrections should struggle to rally over 17830. Tight congestion will lead into

selloffs. A penetration under 166 could propel selloffs / bear trending to 15950.

COCOA ST Trend Up



RESISTANCES 2940.00 2987.00* 3039.00

SUPPORTS 2900.00 2885.00* -

Comment: The market is suggesting a downturn from peaking congestion and should extend

the current selling wave to 2885*. A close under 2885* is bearish. Any attempts to recover will

Commodities | SOFTS


www.sevenstarfx.com

likely just resume choppy sideways trade and stay setup for selloffs. Only a close over 2987*

rekindles 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 92.37 93.06 94.86*

SUPPORTS 90.39 90.11 89.64*

Comment: The market is signaling a negative flip to short term bear trending 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-. A reluctance to penetrate below 9000 could bounce

trade for a few more sideways congestion days, but a close over 9486* is needed to rekindle bull

trend forces.


www.sevenstarfx.com

EURO ST Trend Sdwys/Down

Obj: 1.3666 TRP: 1.3864


RESISTANCES 1.3749 1.3790 1.3803

SUPPORTS 1.3702 1.3666* -

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

sustained drop under last Friday’s low should drive follow through selloffs against 13666*. A

reluctance to extend under 13702 may yet prompt corrections, but tight congestion will bear

flag. A close over 13864* is needed for a reversing turn back to higher levels.

B POUND ST Trend Sdwys/Up



RESISTANCES 1.6672* 1.6765 1.6773

SUPPORTS 1.6555 1.6539* 1.6434

Comment: The market shows mostly sideways drifting action, but keeping trade capped

under 16672* keeps the balance of trend forces to the downside. A close below 16539* will

recapture bear trend forces and drive trade to 16434 and could foster a slide to 16350-. A close

over 16672* will trigger a reversing turn back to higher prices, sending trade to attack for a

breakout over previous swing highs.

J YEN ST Trend Down

Obj: 0.9617 TRP: 0.9776


RESISTANCES 0.9677 0.9705 0.9776*

SUPPORTS 0.9617 0.9598 0.9561-

Comment: The market is bearish, but dropping selloffs to the 9617 target. A close under 9598 is

needed to continue washout declines against the base levels from early this year. Be alert for a

Forex | CURRENCIES


www.sevenstarfx.com

reluctance to renew selloffs under 9700 and in turn trigger a reactionary bounce today-early

next week. However, only a close back over 9776* reverses trade back to the upside.


www.sevenstarfx.com

AUSSIE$ ST Trend Down

Obj: 0.9362 TRP: 0.8992


RESISTANCES 0.9219 0.9257 0.9362+

SUPPORTS 0.9160 0.9114 0.9075-

Comment: The market is in a bull drive, but a punch over Tuesday’s high is needed to spark

continued direct rallies to reach for 9362. Suspect a few corrective days. Corrective dips

should hold along the upper edges of recent congestion at 9075- to keep a friendly alignment.

Likely another 1-2 day sideways congestion will bull flag. A close under 8992* 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: 1.1395


RESISTANCES 1.1271 1.1300 1.1395*

SUPPORTS 1.1209 1.1159 1.1155

Comment: The market is bearish, but yesterday’s selloff dropped trade to the expected 11219

target. A close under 11219 could add washouts to 11159-, but be alert for a reluctance to

continue selloffs under 11219- which could prompt modest reactionary rebounds today-


www.sevenstarfx.com

Monday. Be ready for resistance around the middle of previous congestion near 113+/-.

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.


www.sevenstarfx.com

Business

Daily forex technical analysis report – 04 04-2014