Weekly Technical AnalysisWeekly Technical Analysisfor week commencing 01 September 2014for week commencing 01 September 2014

Prepared by Nicola DukePrepared by Nicola Duke

Page 2 GBPUSDpage 3 EURUSDPage 4 AUDUSDPage 5 USDJPYPage 6 EURGBPPage 7 USDCHFPage 8 USDCADPage 9 EURJPYPage 10 Gold

Page 11 WTI OilPage 12 DAX

Page 13 S&P500

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GBPUSD weekly view

Cable had its narrowest range week since 2002. This is not bullish yet , this is just a very little back and fill. We should go back and test 1.6630 and the weekly marabuzo line resistance just above at 1.6650 should cap bit every foray above 1.66 was sold last week.Still prefer to sell rallies for downside no brainer target at 1.6283Daily view

Five doji days in a row, every rally above 1.66 pushed back. Only a break of this narrow descending channel would let me think there was a correction higher under way otherwise looking a bit like a bear flag.I still like a move higher to test of 1.6630-50 before continuing lower.

EURUSD Weekly view

Bearish acceleration … gapped lower and didn't look back, don't stand in this way of this yet. Through and closed below the 1.3146 fibonacci level & a good weekly support & resistance level.Below this we are looking for 1.3017 which is the 50% retrace of the rally from the 2012 lows to2013 highs. Also EURUSD likes big round numbers like 1.30

Daily view

We see sideways consolidation for a few days and then drops, no bounce, all eyes on 1.3017 and Mr Draghi's announcement on Thursday.

AUDUSD weekly view

Still consolidating sideways this pair has been in a 250 pip range for almost 5 months. Fibonacci pattern favours higher before lower. If this consolidation pattern is symmetrical (like July 2012 to April 2013) we have to wait until week beginning 21September before we get a breakout.

Daily view

H&S or wedge breakout has been very slow momentum. If we clear neckline / double top level at @9373 then 0.9410 & .09458 in sight.

USDJPY weekly view

Trading above March highs at 104.24 is a technically bullish signal. We could still dip well back below that level before higher but the bullish signal is only negated below 102.24. Weekly marabuzo support line is at 103.30Cluster of fibonacci resistance at 105.60 next stop higher

Daily view

Gapped up again Sunday, 103.09 should be good support on any retest for longs. No proper reversal signal to get short but beware this is a very crowded trade ...

EURGBP weekly view

Bear flag break down, bullish bat Fibonacci pattern is not negated yet but we are about to retestthe 0.7762 lows. Sell rallies or sit on the sideline

Daily viewShort term bullish view is cancelled for now. Looking for 0.7974 to hold as resistance for new lows.

USDCHF weekly viewBullish breakout and continuationBigger picture this chart is bullish and USDCHF should hold the May low and rally back to 0.9265-70 and then 0.94-9440

Daily view.

Bull flag pattern measure rule (using pole) projects target of 0.93, fibonacci level is 0.94Good Support to buy at 0.9170 & 0.9155

USDCADWeekly view – Bearish engulfing week

Big picture view is we reached the 50% retracement of the 2009 high and sold off. We rallied tothe 50% of that sell off and are selling off again. This could be a second leg lower to 1.0330 & 1.0270

Daily view

Bullish hammer on Friday after taking out the mid august lows.Below 1.0985 keeps the bear view aliveMarabuzo line resistance 1.0907 & 1.0927 good place to reload shorts

EURJPY weekly view

Bearish engulfing week, after last weeks failure to close above July highs. Oscillating and forming a wedge at 2009 highs level keeps bullish argument alive. Very overbought USDJPY might have an effect and could make this an epic short …

Daily view

If we break the Feb lows its a great short back to 129.40Back above 137.30 projects 139 next

GOLD weekly viewThe middle of a wedge and between the 61.8 & 38.2 fib is a hard place to trade & we are still sathere. Watching the trendline from December 2013 low for a long entry (or break)

Daily view

Inside day, sideways. I still prefer longs against the trend-line support

OIL US WTI crude weekly view

WTI crude found support after H&S target has been met. The broken trend-line from the 2009 low (which is not exact) is about to be retested from below.

Daily View

Watching 97.40 for reloading shorts

DAX weekly viewBullish continuation week. The Dax is very slow compared to other stock indexes.

Daily view

Big high roller doji day Friday – volatility but price going nowhere. Below 9600 means 9330 and9170 next. Might be tricky trading into ECB on Thursday.

S&P weekly viewThe weekly and monthly closes last week at new all time highs and above the July highs is a strong technical bullish signal. There is no technical reason to sell yet. Fibonacci projections are2017 & 2050

Daily view

We could have a consolidation / back and fill week this week after closing on the highs for the month.1979 & 1963 good levels to look for buy entries.

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