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Thread: Daily Technical Analysis from ACFX

  1. #131

    Default Daily Technical Analysis from ACFX 09/18/2013

    Daily Technical Analysis from ACFX 09/18/2013

    Daily Technical Analysis for EURUSD as at 18th September 2013

    DAILY OVERVIEW

    Trend : Short
    Ambush Zone : -
    Target 1 : -
    Target 2 : -
    Stop : -



    Comments

    EURUSD is this morning trading unchanged from the open after yesterdays up day.
    EURUSD continues to trade above Monday mornings opening upside gap and the moving averages have just crossed positively. This positive price activity is in line with the uptrend that is found on the weekly time frame. We are currently monitoring the possibility that EURUSD either trades up to and breaches the prior swing high or attempts to print a higher low prior to trading higher.

    However as the swing bias is still negative we are monitoring a potential move to the area of the prior swing low.

    In terms of the bigger picture the swing bias has changed to negative.

    The following factors are confirming or reinforcing this market bias:
    1. The swing bias is negative.
    2. The price action is trading at moving average resistance which could be viewed as over bought.
    3. The price action is trading within Fibonacci resistance.
    4. The RSI is showing signs of negative divergence.

    Alternative counter trend bullish factors:
    1. The weekly time frame has a positive swing bias.
    2. The averages have crossed positively.
    3. The price action has breached trend line resistance.

    Scenario 1
    As the dominant daily trend is down retracements into resistance could be viewed as selling opportunities

    Scenario 2
    Alternatively if EURUSD can breach Fibonacci resistance there is a possibility that the move continues to the previous swing high.



    Daily Technical Analysis for GBPUSD as at 18th September 2013

    DAILY OVERVIEW

    Trend : Long
    Ambush Zone : -
    Target 1 : -
    Target 2 : -
    Stop : -



    Comments

    GBPUSD is this morning trading higher from the open after yesterdays up day.

    GBPSD continues to trade above Mondays opening upside gap and 1.5825 support level.

    We are monitoring the price action for continued positive momentum and a potential move to trend line resistance. However as the price action is looking extended then the averages a corrective down to sideways move is a possibility.

    In terms of the bigger picture the swing bias is positive.

    The following factors are confirming or reinforcing this market bias:
    1. The swing bias has turned positive.
    2. The price action has bounced off positively layered averages.
    3. The averages have crossed positively.
    4. The RSI is confirming the move.
    5. The weekly time frame is in gear with the daily time frame.

    Alternative counter trend bearish factors:
    1. GBPUSD is trading within Fibonacci resistance.
    2. The price action is extended from the averages.
    3. The price action is approaching trend line resistance.

    Scenario 1
    As the dominant daily trend is up retracements into support could be viewed as buying opportunities.

    Scenario 2
    Alternatively as the price action is extended from the averages short scalping opportunities could potentially become available.



    Daily Technical Analysis for USDCHF as at 18th September 2013

    DAILY OVERVIEW

    Trend : Long
    Ambush Zone : -
    Target 1 : -
    Target 2 : -
    Stop : -



    Comments

    USDCHF is this morning trading unchanged from the open after yesterdays down day

    USDCHF has made a weak attempt to fill its downside gap and is finding some initial resistance at the 34 period moving averages. If this resistance can be breached there is a possibility that USDCHF bounces off Fibonacci support and trade in the direction of the prior swing high.

    However a breach of the 0.9200 support area could see USDCHF trade towards the prior swing low.

    In terms of the bigger picture the swing bias has changed to positive.

    The following factors are confirming or reinforcing this market bias:
    1. The swing bias is positive.
    2. The RSI is in gear with the move.
    3. The averages are positively layered.

    Alternative counter trend bearish factors:
    1. The weekly time frame continues to have a negative bias.

    Scenario 1
    As the dominant daily trend is up corrective pullbacks could possibly offer buying opportunities.

    Scenario 2
    Alternatively as the 34 period moving averages as been breached could now see USDCHF move in the direction of the prior swing low.



    Daily Technical Analysis for USDJPY as at 18th September 2013

    DAILY OVERVIEW

    Trend : Long
    Ambush Zone : -
    Target 1 : -
    Target 2 : -
    Stop : -



    Comments

    USDJPY is this morning higher from the open after yesterdays up day.

    USDJPY has filled its downside gap following the printing of a bullish hammer candle.
    We are monitoring the price action to see if support can hold prior to a retest of the 100 level.

    However a breach of the 34 period moving averages could see USDJPY trading down towards the prior swing low.

    In terms of the bigger picture the swing bias is positive.

    The following factors are confirming or reinforcing this market bias:
    1. The swing bias positive.
    2. The price action has printed a higher low.
    3. The price action has breached the upper trend line of a converging triangle.
    4. The moving averages have crossed positively.
    5. The price action is trading into the moving averages which could be viewed as oversold.
    6. The RSI is confirming the move.

    Alternative counter trend bearish factors:
    1. The 100 level is offering resistance.
    2. Fibonacci resistance could offer down side pressure.

    Scenario 1
    As the dominant daily trend is up retracements into support could be viewed as buying opportunities

    Scenario 2
    Alternatively a breach of the 34 period moving averages could offer a shorting opportunity to the prior swing low.



    Daily Technical Analysis for Gold as at 18th September 2013

    DAILY OVERVIEW

    Trend : Long
    Ambush Zone : -
    Target 1 : -
    Target 2 : -
    Stop : -



    Comments

    Gold is this morning trading lower from the open after yesterdays down day.

    Gold has experienced a broad downside correction and is now breaching the bottom of Fibonacci support. We are monitoring to see if the price action can hold above the last swing low prior to a potential move to the swing high.

    However if the correction gains momentum there is a possibility that Gold attempts to breach the prior pivot swing low which will effectively change the trend to short.

    In terms of the bigger picture the swing bias has reversed to positive.

    The following factors are confirming or reinforcing this market bias:
    1. The swing bias is positive.
    2. The price action has printed a higher low.
    3. The moving averages are layered positively.
    4. The price action is trading above the 1322 support level.
    5. The RSI is in gear with the move.
    6. The price action has entered Fibonacci support.

    Alternative counter trend bearish factors:
    1. The weekly time frame continues to point down.

    Scenario 1
    As the dominant daily trend is up corrective sideways to down movements could potentially be viewed as buying opportunities.

    Scenario 2
    Alternatively the breach of the 34 moving averages could see Gold trade down to the 1300 area.




    Daily Technical Analysis for Oil (WTI) as at 18th September 2013

    DAILY OVERVIEW

    Trend : Long
    Ambush Zone : -
    Target 1 : -
    Target 2 : -
    Stop : -



    Comments

    Oil is this morning trading higher from the open after yesterdays down day.
    Oil continues to trade within the 104.80 to 110.70 range. The price action within this range has been very choppy. Although there is a prominent RSI negative divergence, the move down thus far has been weak. Furthermore the weak correction corresponds with a positive hidden divergence of the RSI which could potentially indicates that the uptrend will stay intact.

    As the swing bias remains positive for the time being we are monitoring a potential bounce off Fibonacci support and a move to the prior swing high. Furthermore moving average support has been breached which could be taken as a sign that Oil is oversold. However if the price action can hold beneath the averages for a sustained period of time will focus more of our attention to the short side. A breach of the prior swing low will reverse the trend to short.

    In terms of the bigger picture the swing bias is positive.

    The following factors are confirming or reinforcing this market bias:
    1. The swing bias is positive.
    2. Oil is trading beneath the averages which could be a sign that this instrument is oversold.
    3. The prior down spike has been reversed.
    4. The averages are layered positively.
    5. The price action is trading above the large monthly converging triangle.

    Alternative counter trend bearish factors:
    1. The weekly RSI diverging negatively.
    2. Moving average support has been breached.

    Scenario 1
    As the dominant daily trend is up retracements to support areas could possibly be viewed as buying opportunities.

    Scenario 2
    Alternatively a breach of current support could see Oil trade down to the previous swing low.

  2. #132

    Default Daily Technical Analysis from ACFX 09/23/2013

    Daily Technical Analysis from ACFX 09/23/2013


    Daily Technical Analysis for EURUSD as at 23rd September 2013

    DAILY OVERVIEW

    Trend : Long
    Ambush Zone : -
    Target 1 : -
    Target 2 : -
    Stop : -



    Comments

    EURUSD continues to trade within a tight trading range and at the highs of the large spike up. Furthermore there has not to date been a broad correction down to key support value areas such as the prior pivot high, moving average or trend line support. We are therefore monitoring the price for signs of possible break out or break downs from this level during the opening of the London session.

    Further positivity for EURUSD will be in line with the change of the daily trend to up, the bullish weekly time frame the moving averages crossing positively and the break of the multiyear downward sloping trend line.

    As posted previously we are currently monitoring the possibility of a move to 1.3710 being a previous weekly pivot high. However as the price action is extended from the averages there is potential for EURUSD to experience a corrective down to sideways movement. As the weekly RSI has yet to show signs of confirming this move the possibility of some kind of correction should not be ruled out.

    Scenario 1
    As the dominant daily trend is up retracements into support could be viewed as buying opportunities. However due to the strength of the move, the possibility of EURUSD continuing to break higher until it reaches the 1.3700 area should not be discounted with these moves probably following minor intraday corrections which could be identified off lower time frame charts.

    Scenario 2
    Alternatively as EURUSD has experienced a strong move higher, bargain hunters may view areas such as the previous swing high, broken trend line resistance and trend line support as areas to add positions. If this scenario plays out there is potential for shorts to be taken with a view of hitting these support targets. However it must be stressed that fighting such a dominant up trend can be a danger to your wealth.



    Daily Technical Analysis for GBPUSD as at 23rd September 2013

    DAILY OVERVIEW

    Trend : Long
    Ambush Zone : -
    Target 1 : -
    Target 2 : -
    Stop : -



    Comments

    GBPUSD has traded down around 180 pips from the highs. This correction is to be expected after such a stellar up move .The move down does appear large. However in relative terms when compared to the proceeding uptrend is actually minor.

    The preferred retracement levels for bargain hunters would probably be to key support levels such as the 8 period moving averages, trend line support or previous pivot high. Of these support levels only the 8 period moving averages has come under threat with the price action approaching but not reaching this level.

    This morning’s price action is trading within a tight opening range and is encompassed by Friday’s price range. We are monitoring the possibility of a London session upside breakout.

    A continued up move should put in focus the possibility of GBPUSD threatening to breach a multiyear down trend line and the 1.6400 area which coincides with a prior weekly pivot high. With the RSI and the moving averages confirming the up move and weekly time frame being in gear with the daily time frame shorting such a strong up trend can be dangerous. However with GBPUSD has yet to experience a good retracement and there is a possibility of further corrective down to sideways price action.

    Scenario 1
    As the dominant daily trend is up retracements into support could be viewed as buying opportunities. These retracements would be ideally taken off an obvious corrective pull back to the 8 period moving averages, trend line support or previous pivot high. However there is a possibility that pull backs are limited and GBPUSD continues to break higher. In this case pullbacks and break outs could potentially be identified off lower time frames.

    Scenario 2
    Alternatively as the price action is extended from the averages short scalping opportunities could potentially become available with targets being the value areas where longs will add positions such as the 8 period moving averages, trend line support or previous pivot high.



    Daily Technical Analysis for USDCHF as at 23rd September 2013

    DAILY OVERVIEW

    Trend : Down
    Ambush Zone : -
    Target 1 : -
    Target 2 : -
    Stop : -



    Comments

    USDCHF has continued to trade lower albeit at a much slower pace. The market is now trading within a very tight range near to the lows of this down move. We are monitoring the London open for a possible indication of which way the market will break.

    To recap on the bigger picture the price action breached trend line support, horizontal support and more importantly the prior swing low which effectively changes the trend to down. The RSI is in gear with this downtrend and this is further confirmed by the averages and weekly time frame. The next support level we are monitoring is the 0.9020 area.

    Scenario 1
    As the dominant daily trend is down corrective pullbacks could possibly offer selling opportunities with retracements back to the averages, the prior pivot low and broken support being value areas where shorts could potentially be added. However there is a possibility of USDCHF continuing to break lower following relatively minor corrective pullbacks which can be identified off intraday charts.

    Scenario 2
    Alternatively one could potentially take scalp longs up to the previously mentioned value areas.



    Daily Technical Analysis for USDJPY as at 23rd September 2013

    DAILY OVERVIEW

    Trend : Long
    Ambush Zone : -
    Target 1 : -
    Target 2 : -
    Stop : -



    Comments

    USDJPY experienced a minor 70 pip downward correction following the strong bounce off the point of intersection of the converging triangle trend lines.

    Across the markets the USD is showing signs of weakness, especially against the majors such as GBPUSD and EURUSD. In the case of EURUSD and USDCHF this weakness in the USD has effectively changed the trends.

    However, USDJPY has stubbornly put up a resistance and maintained an uptrend. With the RSI confirming the move and the averages and weekly time frame pointing positive, we are monitoring the strength of this bounce. If the price action can hold above the triangle and trade through last Monday’s opening downside gap there is potential that USDJPY will retest the 100 level.

    If USDJPY however can trade beneath the converging triangle pattern a move and breach of the prior swing low comes into focus. A breach of the prior swing low will effectively change the swing trend to negative. This scenario is currently being highlighted by downside pressure being exerted by Fibonacci resistance.

    Scenario 1
    As the dominant daily trend is up retracements into support could be viewed as buying opportunities

    Scenario 2
    Alternatively a move beneath the converging triangle opens up a possibility of shorting USDJPY down to the prior swing low.




    Daily Technical Analysis for Gold as at 23rd September 2013

    DAILY OVERVIEW

    Trend : Long
    Ambush Zone : -
    Target 1 : -
    Target 2 : -
    Stop : -



    Comments

    The bounce off Fibonacci and the 1320 support area has thus far failed to follow through with the price action trading back down deep into the Fibonacci area. The move down however has not retested the 1320 level.

    In terms of the bigger picture the daily trend is positive and the up move is in line with the hidden weekly divergence in the RSI. However the weekly time frame does continue to have a bearish outlook and the daily averages are layered negatively.

    We are currently monitoring a potential move to the prior swing pivot high. However a failure to follow through could see Gold breach the prior swing low and effectively changing the trend to negative.

    Scenario 1
    As the dominant daily trend is up corrective sideways to down movements could potentially be viewed as buying opportunities.

    Scenario 2
    Alternatively the breach of the 1320 support area could see Gold trade down to the prior pivot low.



    Daily Technical Analysis for Oil (WTI) as at 23rd September 2013

    DAILY OVERVIEW

    Trend : Long
    Ambush Zone : -
    Target 1 : -
    Target 2 : -
    Stop : -



    Comments

    Oil on Friday broke the bottom off the 104.80 to 110.70 range. The downside correction would appear to be gathering momentum with the averages also turning negative however a further move south will need to overcome support offered by the Fibonacci support area and the positive hidden divergence of the weekly RSI.

    As the swing bias remains positive we are monitoring the bounce off Fibonacci support and a potential move to the prior swing high.

    A failure to follow through with a strong up move could however see Oil trade down the previous pivot low which would effectively change the trend to short.

    Scenario 1
    As the dominant daily trend is up retracements to support areas could possibly be viewed as buying opportunities.

    Scenario 2
    Alternatively a breach of current support could see Oil trade down to the previous swing low.

  3. #133

    Default Daily Technical Analysis from ACFX 09/24/2013

    Daily Technical Analysis from ACFX 09/24/2013


    Daily Technical Analysis for EURUSD as at 24th September 2013

    DAILY OVERVIEW

    Trend : Long
    Ambush Zone : -
    Target 1 : -
    Target 2 : -
    Stop : -



    Comments

    Yesterday EURUSD broke down from the tight two day trading range however this downside momentum has failed to follow through in this morning session. Furthermore there has not to date been a broad correction down to key support value areas such as the prior pivot high, moving average or trend line support. We are therefore monitoring the price for signs of possible break out or break downs from this level during the opening of the London session.

    Further positivity for EURUSD will be in line with the change of the daily trend to up, the bullish weekly time frame the moving averages crossing positively and the break of the multiyear downward sloping trend line.

    As posted previously we are currently monitoring the possibility of a move to 1.3710 being a previous weekly pivot high. However as the price action is extended from the averages there is potential for EURUSD to experience a corrective down to sideways movement. As the weekly RSI has yet to show signs of confirming this move the possibility of some kind of correction should not be ruled out.

    Scenario 1
    As the dominant daily trend is up retracements into support could be viewed as buying opportunities. However due to the strength of the move, the possibility of EURUSD continuing to break higher until it reaches the 1.3700 area should not be discounted with these moves probably following minor intraday corrections which could be identified off lower time frame charts.

    Scenario 2
    Alternatively as EURUSD has experienced a strong move higher, bargain hunters may view areas such as the previous swing high, broken trend line resistance and trend line support as areas to add positions. If this scenario plays out there is potential for shorts to be taken with a view of hitting these support targets. However it must be stressed that fighting such a dominant up trend can be a danger to your wealth.




    Daily Technical Analysis for GBPUSD as at 24th September 2013

    DAILY OVERVIEW

    Trend : Long
    Ambush Zone : -
    Target 1 : -
    Target 2 : -
    Stop : -



    Comments

    Yesterday GBPUSD traded and closed higher following its 180 pips correction from its highs. The pre London open has however thus far been quiet with no signs yet of following through with higher market prices.

    The correction although strong did not reach the preferred retracement levels for bargain hunters which are key support levels such as the 8 period moving averages, trend line support or previous pivot high. Of these support levels only the 8 period moving averages has come under threat with the price action approaching but not reaching this level.

    As the price action continues to trade within a tight opening range and is encompassed by Friday’s price range we are monitoring the possibility of a London session upside breakout.

    A continued up move should put in focus the possibility of GBPUSD threatening to breach a multiyear down trend line and the 1.6400 area which coincides with a prior weekly pivot high. With the RSI and the moving averages confirming the up move and weekly time frame being in gear with the daily time frame shorting such a strong up trend can be dangerous. However with GBPUSD has yet to experience a good retracement and there is a possibility of further corrective down to sideways price action.

    Scenario 1
    As the dominant daily trend is up retracements into support could be viewed as buying opportunities. These retracements would be ideally taken off an obvious corrective pull back to the 8 period moving averages, trend line support or previous pivot high. However there is a possibility that pull backs are limited and GBPUSD continues to break higher. In this case pullbacks and break outs could potentially be identified off lower time frames.

    Scenario 2
    Alternatively as the price action is extended from the averages short scalping opportunities could potentially become available with targets being the value areas where longs will add positions such as the 8 period moving averages, trend line support or previous pivot high.




    Daily Technical Analysis for USDCHF as at 24th September 2013

    DAILY OVERVIEW

    Trend : Down
    Ambush Zone : -
    Target 1 : -
    Target 2 : -
    Stop : -



    Comments

    Yesterday USDCHF continued to trade lower only for buyers to intervene support the market. USDCHF eventually closed higher. This morning’s price action has been muted with the market probably waiting for London to open before deciding on which direction to take.

    To recap on the bigger picture the price action breached trend line support, horizontal support and more importantly the prior swing low which effectively changes the trend to down. The RSI is in gear with this downtrend and this is further confirmed by the averages and weekly time frame. The next support level we are monitoring is the 0.9020 area.

    Scenario 1
    As the dominant daily trend is down corrective pullbacks could possibly offer selling opportunities with retracements back to the averages, the prior pivot low and broken support being value areas where shorts could potentially be added. However there is a possibility of USDCHF continuing to break lower following relatively minor corrective pullbacks which can be identified off intraday charts.

    Scenario 2
    Alternatively one could potentially take scalp longs up to the previously mentioned value areas.




    Daily Technical Analysis for USDJPY as at 24th September 2013

    DAILY OVERVIEW

    Trend : Long
    Ambush Zone : -
    Target 1 : -
    Target 2 : -
    Stop : -



    Comments

    Yesterday USDJPY continued to experience a downside correction following the bounce off the point of intersection of the converging triangle trend lines. The downside momentum has not as yet followed through into the European session with the price action trading higher.

    As USDJPY is trading above the broken converging triangle and with the RSI confirming the move and the averages and weekly time frame pointing positive, we are monitoring the strength of this bounce. If the price action can hold above the triangle and trade through last Monday’s opening downside gap there is potential that USDJPY will retest the 100 level.

    If USDJPY however can trade beneath the converging triangle pattern a move and breach of the prior swing low comes into focus. A breach of the prior swing low will effectively change the swing trend to negative. This scenario is currently being highlighted by downside pressure being exerted by Fibonacci resistance.

    Scenario 1
    As the dominant daily trend is up retracements into support could be viewed as buying opportunities

    Scenario 2
    Alternatively a move beneath the converging triangle opens up a possibility of shorting USDJPY down to the prior swing low.




    Daily Technical Analysis for Gold as at 24th September 2013,

    DAILY OVERVIEW

    Trend : Long
    Ambush Zone : -
    Target 1 : -
    Target 2 : -
    Stop : -



    Comments

    The bounce off Fibonacci and the 1320 support area has thus far failed to follow through with the price action trading back down deep into the Fibonacci area. The move down however has not retested the 1320 level.

    In terms of the bigger picture the daily trend is positive and the up move is in line with the hidden weekly divergence in the RSI. However the weekly time frame does continue to have a bearish outlook and the daily averages are layered negatively.

    We are currently monitoring a potential move to the prior swing pivot high. However a failure to follow through could see Gold breach the prior swing low and effectively changing the trend to negative.

    Scenario 1
    As the dominant daily trend is up corrective sideways to down movements could potentially be viewed as buying opportunities.

    Scenario 2
    Alternatively the breach of the 1320 support area could see Gold trade down to the prior pivot low.




    Daily Technical Analysis for Oil (WTI) as at 24th September 2013

    DAILY OVERVIEW

    Trend : Short
    Ambush Zone : -
    Target 1 : -
    Target 2 : -
    Stop : -



    Comments

    Yesterday Oil continued to trade lower and in the process traded through the previous swing low pivot which effectively changed the trend to down. Both Fibonacci support and the positive hidden RSI divergence have been negated and the moving averages have crossed negatively.

    Scenario 1
    As the dominant daily trend is down retracements up to resistance such as the averages areas could possibly be viewed as selling opportunities. However there is a possibility that Oil breaks lower during the London session and an attempt is made to reach trend line support. Such break downs can potentially be identified off lower time frame charts.

    Scenario 2
    Alternatively one could possibly take scalp longs up to the averages.

  4. #134

    Default

    Daily Technical Analysis from ACFX 09/25/2013

    Daily Technical Analysis for EURUSD as at 25th September 2013

    DAILY OVERVIEW

    Trend : Long
    Ambush Zone : -
    Target 1 : -
    Target 2 : -
    Stop : -



    Comments

    This morning EURUSD has finally traded down to our first value area which is the 8 period moving averages. We are therefore monitoring the price action for signs of support coming in at these levels prior to a resumption of the uptrend.

    Further positivity for EURUSD will be in line with the change of the daily trend to up, the bullish weekly time frame the moving averages crossing positively and the break of the multiyear downward sloping trend line.

    As posted previously we are currently monitoring the possibility of a move to 1.3710 being a previous weekly pivot high. However as the price action is extended from the averages there is potential for EURUSD to experience a corrective down to sideways movement. As the weekly RSI has yet to show signs of confirming this move the possibility of some kind of correction should not be ruled out.

    Scenario 1
    As the dominant daily trend is up retracements into support could be viewed as buying opportunities

    Scenario 2
    Alternatively a breach of the 8 period moving averages could see EURUSD trading down to the 34 period moving averages.



    Daily Technical Analysis for GBPUSD as at 25th September 2013

    DAILY OVERVIEW

    Trend : Long
    Ambush Zone : -
    Target 1 : -
    Target 2 : -
    Stop : -



    Comments

    Yesterday GBPUSD traded down to the 8 period moving averages where support was found. In the process a bullish hammer candle was printed.

    The touching of the 8 period moving averages has now pushed GBPUSD to the first value area. We are monitoring the price action at these levels for a possible up move to the previous swing high.

    A continued up move should put in focus the possibility of GBPUSD threatening to breach a multiyear down trend line and the 1.6400 area which coincides with a prior weekly pivot high. With the RSI and the moving averages confirming the up move and weekly time frame being in gear with the daily time frame shorting such a strong up trend can be dangerous.

    However with GBPUSD has yet to experience a good retracement and there is a possibility of further corrective down to sideways price action.

    Scenario 1
    As the dominant daily trend is up retracements into support could be viewed as buying opportunities. These retracements would be ideally taken off an obvious corrective pull back to the 8 period moving averages, trend line support or previous pivot high. However there is a possibility that pull backs are limited and GBPUSD continues to break higher. In this case pullbacks and break outs could potentially be identified off lower time frames.

    Scenario 2
    Alternatively a breach of the 8 period moving averages could see GBPUSD trade down to trend line support.



    Daily Technical Analysis for USDCHF as at 25th September 2013

    DAILY OVERVIEW

    Trend : Down
    Ambush Zone : -
    Target 1 : -
    Target 2 : -
    Stop : -



    Comments

    Yesterday USDCHF continues to bounce off the lows. We are monitoring a potential move to the 8 period moving averages.

    To recap on the bigger picture the price action breached trend line support, horizontal support and more importantly the prior swing low which effectively changes the trend to down. The RSI is in gear with this downtrend and this is further confirmed by the averages and weekly time frame. The next support level we are monitoring is the 0.9020 area.

    Scenario 1
    As the dominant daily trend is down corrective pullbacks could possibly offer selling opportunities with retracements back to the averages, the prior pivot low and broken support being value areas where shorts could potentially be added. However there is a possibility of USDCHF continuing to break lower following relatively minor corrective pullbacks which can be identified off intraday charts.

    Scenario 2
    Alternatively one could potentially take scalp longs up to the previously mentioned value areas.


    Daily Technical Analysis for USDJPY as at 25th September 2013

    DAILY OVERVIEW

    Trend : Long
    Ambush Zone : -
    Target 1 : -
    Target 2 : -
    Stop : -



    Comments

    USDJPY continues to experience a downside correction following the bounce off the point of intersection of the converging triangle trend lines. This move lower however has yet to breach trend line support.

    As USDJPY is trading above the broken converging triangle and with the RSI confirming the move and the averages and weekly time frame pointing positive, we are monitoring the strength of this bounce. If the price action can hold above the triangle and trade through last Monday’s opening downside gap there is potential that USDJPY will retest the 100 level.

    If USDJPY however can trade beneath the converging triangle pattern a move and breach of the prior swing low comes into focus. A breach of the prior swing low will effectively change the swing trend to negative. This scenario is currently being highlighted by downside pressure being exerted by Fibonacci resistance.

    Scenario 1
    As the dominant daily trend is up retracements into support could be viewed as buying opportunities

    Scenario 2
    Alternatively a move beneath the converging triangle opens up a possibility of shorting USDJPY down to the prior swing low.




    Daily Technical Analysis for Gold as at 25th September 2013

    DAILY OVERVIEW

    Trend : Long
    Ambush Zone : -
    Target 1 : -
    Target 2 : -
    Stop : -



    Comments

    Yesterday Gold traded down to trend line support where buying came into the market and in the process the price action printed a bullish hammer. We are monitoring a possible move up to the 34 period moving averages.
    The bounce off Fibonacci and the 1320 support area has thus far failed to follow through with the price action trading back down deep into the Fibonacci area. The move down however has not retested the 1320 level.

    In terms of the bigger picture the daily trend is positive and the up move is in line with the hidden weekly divergence in the RSI. However the weekly time frame does continue to have a bearish outlook and the daily averages are layered negatively.

    We are currently monitoring a potential move to the prior swing pivot high. However a failure to follow through could see Gold breach the prior swing low and effectively changing the trend to negative.

    Scenario 1
    As the dominant daily trend is up corrective sideways to down movements could potentially be viewed as buying opportunities.

    Scenario 2
    Alternatively the breach of the 1320 support area could see Gold trade down to the prior pivot low.




    Daily Technical Analysis for Oil (WTI) as at 25th September 2013

    DAILY OVERVIEW

    Trend : Short
    Ambush Zone : -
    Target 1 : -
    Target 2 : -
    Stop : -



    Comments

    Yesterday Oil traded down to trend line support where buying came into the market and in the process the price action printed a bullish hammer. We are monitoring a possible move up to the 8 period moving averages.

    Scenario 1
    As the dominant daily trend is down retracements up to resistance such as the averages areas could possibly be viewed as selling opportunities.

    Scenario 2
    Alternatively one could possibly take scalp longs up to the averages.

  5. #135

    Default Daily Technical Analysis from ACFX 09/27/2013

    Daily Technical Analysis from ACFX 09/27/2013


    Daily Technical Analysis for EURUSD as at 27th September 2013

    DAILY OVERVIEW

    Trend : Long
    Ambush Zone : -
    Target 1 : -
    Target 2 : -
    Stop : -



    Comments

    EURUSD continues to trade around our first value area which is the 8 period moving averages. We are therefore monitoring the price action for signs of support coming in at these levels prior to a resumption of the uptrend.

    Further positivity for EURUSD will be in line with the change of the daily trend to up, the bullish weekly time frame the moving averages crossing positively and the break of the multiyear downward sloping trend line.

    As posted previously we are currently monitoring the possibility of a move to 1.3710 being a previous weekly pivot high. However as the price action is extended from the averages there is potential for EURUSD to experience a corrective down to sideways movement. As the weekly RSI has yet to show signs of confirming this move the possibility of some kind of correction should not be ruled out.

    Scenario 1
    As the dominant daily trend is up retracements into support could be viewed as buying opportunities

    Scenario 2
    Alternatively a breach of the 8 period moving averages could see EURUSD trading down to the 34 period moving averages.



    Daily Technical Analysis for GBPUSD as at 27th September 2013

    DAILY OVERVIEW

    Trend : Long
    Ambush Zone : -
    Target 1 : -
    Target 2 : -
    Stop : -



    Comments

    GBPUSD continues to find support at the 8 period moving averages which is our first value area. We are monitoring the price action at these levels for a possible up move to the previous swing high.

    A continued up move should put in focus the possibility of GBPUSD threatening to breach a multiyear down trend line and the 1.6400 area which coincides with a prior weekly pivot high. With the RSI and the moving averages confirming the up move and weekly time frame being in gear with the daily time frame shorting such a strong up trend can be dangerous.

    However with GBPUSD has yet to experience a good retracement and there is a possibility of further corrective down to sideways price action.

    Scenario 1
    As the dominant daily trend is up retracements into support could be viewed as buying opportunities. These retracements would be ideally taken off an obvious corrective pull back to the 8 period moving averages, trend line support or previous pivot high. However there is a possibility that pull backs are limited and GBPUSD continues to break higher. In this case pullbacks and break outs could potentially be identified off lower time frames.

    Scenario 2
    Alternatively a breach of the 8 period moving averages could see GBPUSD trade down to trend line support.



    Daily Technical Analysis for USDCHF as at 27th September 2013

    DAILY OVERVIEW

    Trend : Down
    Ambush Zone : -
    Target 1 : -
    Target 2 : -
    Stop : -



    Comments

    USDCHF has traded up to our first value area being the 8 period moving averages which is a potential shorting zone.

    To recap on the bigger picture the price action breached trend line support, horizontal support and more importantly the prior swing low which effectively changes the trend to down. The RSI is in gear with this downtrend and this is further confirmed by the averages and weekly time frame. The next support level we are monitoring is the 0.9020 area.

    Scenario 1
    As the dominant daily trend is down corrective pullbacks could possibly offer selling opportunities with retracements back to the averages, the prior pivot low and broken support being value areas where shorts could potentially be added. However there is a possibility of USDCHF continuing to break lower following relatively minor corrective pullbacks which can be identified off intraday charts.

    Scenario 2
    Alternatively one could potentially take scalp longs up to the previously mentioned value areas.



    Daily Technical Analysis for USDJPY as at 27th September 2013

    DAILY OVERVIEW

    Trend : Long
    Ambush Zone : -
    Target 1 : -
    Target 2 : -
    Stop : -



    Comments

    USDJPY continues to above the intersection of the converging triangle trend lines.

    As USDJPY is trading above the broken converging triangle and with the RSI confirming the move and the averages and weekly time frame pointing positive, we are monitoring the strength of this bounce. If the price action can hold above the triangle and trade through last Monday’s opening downside gap there is potential that USDJPY will retest the 100 level.

    If USDJPY however can trade beneath the converging triangle pattern a move and breach of the prior swing low comes into focus. A breach of the prior swing low will effectively change the swing trend to negative. This scenario is currently being highlighted by downside pressure being exerted by Fibonacci resistance.

    Scenario 1
    As the dominant daily trend is up retracements into support could be viewed as buying opportunities

    Scenario 2
    Alternatively a move beneath the converging triangle opens up a possibility of shorting USDJPY down to the prior swing low.



    Daily Technical Analysis for Gold as at 27th September 2013

    DAILY OVERVIEW

    Trend : Long
    Ambush Zone : -
    Target 1 : -
    Target 2 : -
    Stop : -



    Comments

    Gold continues to trade in the Fibonacci support area. We are monitoring a possible move up to the 34 period moving averages.
    The bounce off Fibonacci and the 1320 support area has thus far failed to follow through with the price action trading back down deep into the Fibonacci area. The move down however has not retested the 1320 level.

    In terms of the bigger picture the daily trend is positive and the up move is in line with the hidden weekly divergence in the RSI. However the weekly time frame does continue to have a bearish outlook and the daily averages are layered negatively.

    We are currently monitoring a potential move to the prior swing pivot high. However a failure to follow through could see Gold breach the prior swing low and effectively changing the trend to negative.

    Scenario 1
    As the dominant daily trend is up corrective sideways to down movements could potentially be viewed as buying opportunities.

    Scenario 2
    Alternatively the breach of the 1320 support area could see Gold trade down to the prior pivot low.




    Daily Technical Analysis for Oil (WTI) as at 25th September 2013

    DAILY OVERVIEW

    Trend : Short
    Ambush Zone : -
    Target 1 : -
    Target 2 : -
    Stop : -



    Comments

    Oil continues to around trend line support which is a potential area for a bounce to take place. We are monitoring a possible move up to the 8 period moving averages.

    Scenario 1
    As the dominant daily trend is down retracements up to resistance such as the averages areas could possibly be viewed as selling opportunities.

    Scenario 2
    Alternatively one could possibly take scalp longs up to the averages.

  6. #136

    Default Daily Technical Analysis from ACFX 09/30/2013

    Daily Technical Analysis from ACFX 09/30/2013


    Daily Technical Analysis for EURUSD as at 30th September 2013

    DAILY OVERVIEW

    Trend : Long
    Ambush Zone : -
    Target 1 : -
    Target 2 : -
    Stop : -



    Comments

    Following the move that formed the higher high on the 19th September EURUSD has traded within a 110 pip range. As the price action has a positive swing bias we are monitoring if the move down to the 8 period moving averages value area will act as a trigger zone for longs to add positions prior to a move to the previous swing high. However for this to happen we would like to see EURUSD close and trade above this morning’s downside opening gap.

    As posted previously further positivity for EURUSD will be in line with the change of the daily trend to up, the bullish weekly time frame the moving averages crossing positively and the break of the multiyear downward sloping trend line. We are currently monitoring the possibility of a move to 1.3710 being a previous weekly pivot high. However as the weekly RSI has yet to show signs of confirming this move the possibility of some kind of correction should not be ruled out.

    Scenario 1
    As the dominant daily trend is up retracements into support could be viewed as buying opportunities

    Scenario 2
    Alternatively a breach of the 8 period moving averages could see EURUSD trading down to the 34 period moving averages.



    Daily Technical Analysis for GBPUSD as at 30th September 2013

    DAILY OVERVIEW

    Trend : Long
    Ambush Zone : -
    Target 1 : -
    Target 2 : -
    Stop : -



    Comments

    GBPUSD as predicted the 8 period moving averages gave support. This morning GBPUSD has traded above the 18th September high.

    A continued up move should put in focus the possibility of GBPUSD threatening to breach a multiyear down trend line and the 1.6400 area which coincides with a prior weekly pivot high. With the RSI and the moving averages confirming the up move and weekly time frame being in gear with the daily time frame shorting such a strong up trend can be dangerous.

    However with GBPUSD has yet to experience a good retracement and there is a possibility of further corrective down to sideways price action.

    Scenario 1
    As the dominant daily trend is up retracements into support could be viewed as buying opportunities. These retracements would be ideally taken off an obvious corrective pull back to the 8 period moving averages, trend line support or previous pivot high. However there is a possibility that pull backs are limited and GBPUSD continues to break higher. In this case pullbacks and break outs could potentially be identified off lower time frames.

    Scenario 2
    Alternatively a breach of the 8 period moving averages could see GBPUSD trade down to trend line support.



    Daily Technical Analysis for USDCHF as at 30th September 2013

    DAILY OVERVIEW

    Trend : Down
    Ambush Zone : -
    Target 1 : -
    Target 2 : -
    Stop : -



    Comments

    On Friday morning it was identified that USDCHF had traded up to our first value area being the 8 period moving averages which was a potential shorting zone. This scenario played out at USDCHF traded down to the 0.9020 support area where buyers came into the market.

    To recap on the bigger picture the price action breached trend line support, horizontal support and more importantly the prior swing low which effectively changes the trend to down. The RSI is in gear with this downtrend and this is further confirmed by the averages and weekly time frame. The next support level we are monitoring is the 0.9020 area.

    Scenario 1
    As the dominant daily trend is down corrective pullbacks could possibly offer selling opportunities with retracements back to the averages, the prior pivot low and broken support being value areas where shorts could potentially be added. However there is a possibility of USDCHF continuing to break lower following relatively minor corrective pullbacks which can be identified off intraday charts.

    Scenario 2
    Alternatively one could potentially take scalp longs up to the previously mentioned value areas.



    Daily Technical Analysis for USDJPY as at 30th September 2013

    DAILY OVERVIEW

    Trend : Long
    Ambush Zone : -
    Target 1 : -
    Target 2 : -
    Stop : -



    Comments

    This morning USDJPY opens with a downside gap and is trading at an intersection of the broken converging triangle. Although the swing bias remains positive this morning’s gap and the Fibonacci resistance area could potentially be a catalyst for downside pressure. However a possible daily trend change to down maybe limited due to the strength of the uptrend’s that can be found in both Monthly and Weekly time frames. A breach of the prior swing high will confirm the uptrend where as a breach of the prior swing low will change the daily trend to negative.

    Scenario 1
    As the dominant daily trend is up retracements into support could be viewed as buying opportunities

    Scenario 2
    Alternatively a move beneath the converging triangle opens up a possibility of shorting USDJPY down to the prior swing low.




    Daily Technical Analysis for Gold as at 30th September 2013

    DAILY OVERVIEW

    Trend : Long
    Ambush Zone : -
    Target 1 : -
    Target 2 : -
    Stop : -



    Comments

    Gold continues to trade in the Fibonacci support area. We are monitoring a possible move up to the 34 period moving averages.
    The bounce off Fibonacci and the 1320 support area has thus far failed to follow through with the price action trading back down deep into the Fibonacci area. The move down however has not retested the 1320 level.

    In terms of the bigger picture the daily trend is positive and the up move is in line with the hidden weekly divergence in the RSI. However the weekly time frame does continue to have a bearish outlook and the daily averages are layered negatively.

    We are currently monitoring a potential move to the prior swing pivot high. However a failure to follow through could see Gold breach the prior swing low and effectively changing the trend to negative.

    Scenario 1
    As the dominant daily trend is up corrective sideways to down movements could potentially be viewed as buying opportunities.

    Scenario 2
    Alternatively the breach of the 1320 support area could see Gold trade down to the prior pivot low.



    Daily Technical Analysis for Oil (WTI) as at 30th September 2013

    DAILY OVERVIEW

    Trend : Short
    Ambush Zone : -
    Target 1 : -
    Target 2 : -
    Stop : -



    Comments

    This morning Oil opened with a downside gap and a breach of trend line support. This move happen following a rejection of the 8 period moving averages.

    Scenario 1
    As the dominant daily trend is down retracements up to resistance such as the averages areas could possibly be viewed as selling opportunities.

    Scenario 2
    Alternatively one could possibly take scalp longs up to the averages.

  7. #137

    Default

    Daily Technical Analysis from ACFX 10/02/2013


    Daily Technical Analysis for EURUSD as at 2nd October 2013

    DAILY OVERVIEW

    Trend : Long
    Ambush Zone : -
    Target 1 : -
    Target 2 : -
    Stop : -



    Comments

    Yesterday EURUSD traded substantially higher only for it to pair its gains and close near its open and just above the 8 period moving averages. This morning this average continues to offer some support and a potential value area for longs to be taken.

    The pattern being formed is a rising wedge. A break down from this pattern could see EURUSD trade down to the 34 period moving averages. A break down would be in line with the weekly RSI which has yet to confirm the up move.

    However with the swing bias continuing to point up on both daily and weekly time frames and the moving averages layered positively we are monitoring a possible move to 1.3710 being a previous weekly pivot high.

    Scenario 1
    As the dominant daily trend is up retracements into support could be viewed as buying opportunities

    Scenario 2
    Alternatively a breach of the 8 period moving averages could see EURUSD trading down to the 34 period moving averages.



    Daily Technical Analysis for GBPUSD as at 2nd October 2013

    DAILY OVERVIEW

    Trend : Long
    Ambush Zone : -
    Target 1 : -
    Target 2 : -
    Stop : -



    Comments

    GBPUSD continue its upward movement following the bounce off the 8 period moving averages. GBPUSD is now threatening to breach a multiyear down trend line and the 1.6400 area which coincides with a prior weekly pivot high. With the RSI and the moving averages confirming the up move and weekly time frame being in gear with the daily time frame shorting such a strong up trend can be dangerous.

    However with GBPUSD now extended from the averages and trading into overhead resistance there is a possibility of a rejection of these level and a potential move back down to the averages.

    Scenario 1
    As the dominant daily trend is up retracements into support could be viewed as buying opportunities. These retracements would be ideally taken off an obvious corrective pull back to the 8 period moving averages, trend line support or previous pivot high. However there is a possibility that pull backs are limited and GBPUSD continues to break higher. In this case pullbacks and break outs could potentially be identified off lower time frames.

    Scenario 2
    Alternatively a rejection of resistance could see GBPUSD trade back down to the 8 period moving averages.



    Daily Technical Analysis for USDCHF as at October 2013

    DAILY OVERVIEW

    Trend : Down
    Ambush Zone : -
    Target 1 : -
    Target 2 : -
    Stop : -



    Comments

    Yesterday USDCHF breached the 0.9020 area only for support to come into the market for this currency pair and in the process the price action printed a bullish hammer. This morning USDCHF continues to hold above the 0.9020 and is now touching the 8 period moving averages which is a potential value area where shorts could potentially be added.

    Scenario 1
    As the dominant daily trend is down corrective pullbacks could possibly offer selling opportunities with retracements back to the averages, the prior pivot low and broken support being value areas where shorts could potentially be added. However there is a possibility of USDCHF continuing to break lower following relatively minor corrective pullbacks which can be identified off intraday charts.

    Scenario 2
    Alternatively one could potentially take scalp longs up to the previously mentioned value areas.



    Daily Technical Analysis for USDJPY as at 2nd October 2013

    DAILY OVERVIEW

    Trend : Long
    Ambush Zone : -
    Target 1 : -
    Target 2 : -
    Stop : -



    Comments
    Yesterday USDJPY traded up to the 8 period moving averages only for this pair to reject this level. This morning the negativity has increased as USDJPY trades down from both the averages and Fibonacci resistance.

    All eyes are now on the 96.80 level which coincides with a prior swing low. A breach of this pivot will effectively change the trend to short on a swing basis.

    However a possible daily trend change to down maybe limited due to the strength of the uptrend’s that can be found in both Monthly and Weekly time frames with a breach of the prior swing high will confirm the uptrend.

    Scenario 1
    As the dominant daily trend is up retracements into support could be viewed as buying opportunities

    Scenario 2
    Alternatively a move beneath the converging triangle opens up a possibility of shorting USDJPY down to the prior swing low.



    Daily Technical Analysis for Gold as at 2nd October 2013

    DAILY OVERVIEW

    Trend : Short
    Ambush Zone : -
    Target 1 : -
    Target 2 : -
    Stop : -



    Comments

    Yesterday Gold breached the low of the 18th September pivot and in the process changed the trend on a swing basis to down. The move yesterday was large and exceeded the daily average range. For this reason and due to the price action being extended from the averages and the weekly RSI continuing to diverge positively we are monitoring Gold for signs of a corrective upward retracement.
    However as the trend is now down and with the formation of a bearish head and shoulders pattern now forming the main focus for the time being would be for possible short set ups.

    Scenario 1
    As the dominant daily trend is down corrective sideways to up movements could potentially be viewed as selling opportunities.

    Scenario 2
    Alternatively as the price action is extended from the averages there is potential for scalp longs back up to these averages.



    Daily Technical Analysis for Oil (WTI) as at 2nd October 2013

    DAILY OVERVIEW

    Trend : Short
    Ambush Zone : -
    Target 1 : -
    Target 2 : -
    Stop : -



    Comments

    Monday’s down move eventually formed a bullish hammer. With yesterdays price action trading within Monday’s range and today’s open being quiet and within this range we are monitoring the 101 area to if support can hold Oil around this level.

    Scenario 1
    As the dominant daily trend is down retracements up to resistance such as the averages areas could possibly be viewed as selling opportunities.

    Scenario 2
    Alternatively one could possibly take scalp longs up to the averages.

  8. #138

    Default

    Daily Technical Analysis from ACFX 10/03/2013

    Daily Technical Analysis for EURUSD as at 3rd October 2013

    DAILY OVERVIEW

    Trend : Long
    Ambush Zone : -
    Target 1 : -
    Target 2 : -
    Stop : -



    Comments

    Yesterday EURUSD bounced off the 8 period moving averages and traded substantially higher. This morning EURUSD has opened positively.

    In terms of the daily trend the swing bias continues to be positive and this direction is being confirmed on the weekly time frame. Furthermore the averages layered positively and the RSI is in gear with the trend. We are monitoring a possible move to 1.3710 being a previous weekly pivot high.

    Scenario 1
    As the dominant daily trend is up retracements into support could be viewed as buying opportunities

    Scenario 2
    Alternatively as the price action is extended from the averages there is a possibility that EURUSD may experience a downward or sideways correction.



    Daily Technical Analysis for GBPUSD as at 3rd October 2013

    DAILY OVERVIEW

    Trend : Long
    Ambush Zone : -
    Target 1 : -
    Target 2 : -
    Stop : -



    Comments

    GBPUSD continue its upward movement following the bounce off the 8 period moving averages. GBPUSD is now threatening to breach a multiyear down trend line and the 1.6400 area which coincides with a prior weekly pivot high. With the RSI and the moving averages confirming the up move and weekly time frame being in gear with the daily time frame shorting such a strong up trend can be dangerous.

    However with GBPUSD now extended from the averages and trading into overhead resistance there is a possibility of a rejection of these level and a potential move back down to the averages.

    Scenario 1
    As the dominant daily trend is up retracements into support could be viewed as buying opportunities. These retracements would be ideally taken off an obvious corrective pull back to the 8 period moving averages, trend line support or previous pivot high. However there is a possibility that pull backs are limited and GBPUSD continues to break higher. In this case pullbacks and break outs could potentially be identified off lower time frames.

    Scenario 2
    Alternatively a rejection of resistance could see GBPUSD trade back down to the 8 period moving averages.



    Daily Technical Analysis for USDCHF as at 3rd October 2013

    DAILY OVERVIEW

    Trend : Down
    Ambush Zone : -
    Target 1 : -
    Target 2 : -
    Stop : -



    Comments

    Yesterday USDCHF breached the 0.9020 area only for support to come into the market for this currency pair and in the process the price action printed a bullish hammer. This morning USDCHF continues to hold above the 0.9020 and is now touching the 8 period moving averages which is a potential value area where shorts could potentially be added.

    Scenario 1
    As the dominant daily trend is down corrective pullbacks could possibly offer selling opportunities with retracements back to the averages, the prior pivot low and broken support being value areas where shorts could potentially be added. However there is a possibility of USDCHF continuing to break lower following relatively minor corrective pullbacks which can be identified off intraday charts.

    Scenario 2
    Alternatively one could potentially take scalp longs up to the previously mentioned value areas.




    Daily Technical Analysis for USDJPY as at 3rd October 2013

    DAILY OVERVIEW

    Trend : Long
    Ambush Zone : -
    Target 1 : -
    Target 2 : -
    Stop : -



    Comments

    USDJPY traded up to the 8 period moving averages only for this pair to reject this level. Yesterday the move down gained momentum however this morning USDJPY has experienced a bounce which would be in line with a correction due to the price action being extended from the averages.

    All eyes are now on the 96.80 level which coincides with a prior swing low. A breach of this pivot will effectively change the trend to short on a swing basis.

    However a possible daily trend change to down maybe limited due to the strength of the uptrend’s that can be found in both Monthly and Weekly time frames.

    Scenario 1
    As the dominant daily trend is up retracements into support could be viewed as buying opportunities

    Scenario 2
    Alternatively a move beneath the converging triangle opens up a possibility of shorting USDJPY down to the prior swing low.




    Daily Technical Analysis for Gold as at 3rd October 2013

    DAILY OVERVIEW

    Trend : Short
    Ambush Zone : -
    Target 1 : -
    Target 2 : -
    Stop : -



    Comments

    Having breached the low of the 18th September pivot the daily trend in Gold has turned negative on a swing bases. The move down was large and exceeded the daily average range. That yesterday Gold experience a large bounce is in line with a corrective move that is in line with the weekly RSI positive divergence and the price action being extended from the averages.
    The correction however may have been completed as Gold has now traded up to the 8 period moving averages which is a potential value area for shorts to be added. Furthermore the formation of a bearish head and shoulders pattern that is now forming continues the focus for the time on possible short set ups.

    Scenario 1
    As the dominant daily trend is down corrective sideways to up movements could potentially be viewed as selling opportunities.

    Scenario 2
    Alternatively a breach of the 8 period moving averages could see Gold trade up to the 34 period moving averages.



    Daily Technical Analysis for Oil (WTI) as at 2nd October 2013

    DAILY OVERVIEW

    Trend : Short
    Ambush Zone : -
    Target 1 : -
    Target 2 : -
    Stop : -



    Comments

    Monday’s down move eventually formed a bullish hammer. With yesterdays price action trading within Monday’s range and today’s open being quiet and within this range we are monitoring the 101 area to if support can hold Oil around this level.

    Scenario 1
    As the dominant daily trend is down retracements up to resistance such as the averages areas could possibly be viewed as selling opportunities.

    Scenario 2
    Alternatively one could possibly take scalp longs up to the averages.

  9. #139

    Default Daily Technical Analysis from ACFX 10/04/2013

    Daily Technical Analysis from ACFX 10/04/2013


    Daily Technical Analysis for EURUSD as at 4th October 2013

    DAILY OVERVIEW

    Trend : Long
    Ambush Zone : -
    Target 1 : -
    Target 2 : -
    Stop : -



    Comments
    Yesterday EURUSD continued to trade higher following it’s bounced off the 8 period moving averages. This morning EURUSD has opened quietly. We are awaiting the London open for an indication of short term directional momentum.

    In terms of the daily trend the swing bias continues to be positive and this direction is being confirmed on the weekly time frame. Furthermore the averages layered positively and the RSI is in gear with the trend. We are monitoring a possible move to 1.3710 being a previous weekly pivot high.

    Scenario 1
    As the dominant daily trend is up retracements into support could be viewed as buying opportunities

    Scenario 2
    Alternatively as the price action is extended from the averages there is a possibility that EURUSD may experience a downward or sideways correction.



    Daily Technical Analysis for GBPUSD as at 4th October 2013

    DAILY OVERVIEW

    Trend : Long
    Ambush Zone : -
    Target 1 : -
    Target 2 : -
    Stop : -



    Comments

    Yesterday GBPUSD traded down off multiyear trend line resistance. This moved has followed through into this morning with GBPUSD approaching close to the 8 period moving averages which is our initial support and value area for potential long entries. If GBPUSD can hold this level there is potential for a retest of resistance and the 1.6400 area which coincides with a prior weekly pivot high.

    With the RSI and the moving averages confirming the up move and weekly time frame being in gear with the daily time frame shorting such a strong up trend can be dangerous. However with GBPUSD now trading into overhead resistance there is a possibility of a rejection of this level and a potential move back down to the 34 period moving averages and trend line support.

    Scenario 1
    As the dominant daily trend is up retracements into support could be viewed as buying opportunities. These retracements would be ideally taken off an obvious corrective pull back to the 8 period moving averages, trend line support or previous pivot high. However there is a possibility that pull backs are limited and GBPUSD continues to break higher. In this case pullbacks and break outs could potentially be identified off lower time frames.

    Scenario 2
    Alternatively a breach of the 8 period moving averages could see GBPUSD trade down the 34 period moving averages and trend line support.



    Daily Technical Analysis for USDCHF as at 4th October 2013

    DAILY OVERVIEW

    Trend : Down
    Ambush Zone : -
    Target 1 : -
    Target 2 : -
    Stop : -



    Comments

    Yesterday once again USDCHF breached the 0.9020 area but on this occasion managed to close beneath this level. This morning this negative momentum is continuing. The next potential support level is 0.8930 which corresponds to a weekly pivot swing low.

    Scenario 1
    As the dominant daily trend is down corrective pullbacks could possibly offer selling opportunities with retracements back to the averages, the prior pivot low and broken support being value areas where shorts could potentially be added. However there is a possibility of USDCHF continuing to break lower following relatively minor corrective pullbacks which can be identified off intraday charts.

    Scenario 2
    Alternatively one could potentially take scalp longs up to the previously mentioned value areas.



    Daily Technical Analysis for USDJPY as at 4th October 2013

    DAILY OVERVIEW

    Trend : Long
    Ambush Zone : -
    Target 1 : -
    Target 2 : -
    Stop : -



    Comments

    Yesterday USDJPY continues its move down following the rejection of the 8 period moving averages. This morning USDJPY has opened quietly. We are awaiting the London open for an indication of possible short term directional momentum.

    All eyes are now on the 96.80 level which coincides with a prior swing low. A breach of this pivot will effectively change the trend to short on a swing basis.

    However a possible daily trend change to down maybe limited due to the strength of the uptrend’s that can be found in both Monthly and Weekly time frames.

    Scenario 1
    As the dominant daily trend is up retracements into support could be viewed as buying opportunities

    Scenario 2
    Alternatively a move beneath the converging triangle opens up a possibility of shorting USDJPY down to the prior swing low.




    Daily Technical Analysis for Gold as at 4th October 2013

    DAILY OVERVIEW

    Trend : Short
    Ambush Zone : -
    Target 1 : -
    Target 2 : -
    Stop : -



    Comments

    Having breached the low of the 18th September pivot the daily trend in Gold has turned negative on a swing bases. The move down was large and exceeded the daily average range. That Gold experience a large bounce is in line with a corrective move that is in line with the weekly RSI positive divergence and the price action being extended from the averages.
    The correction however may have been completed as Gold has now traded up to the 8 period moving averages which is a potential value area for shorts to be added. Furthermore the formation of a bearish head and shoulders pattern that is now forming continues the focus for the time on possible short set ups.

    Scenario 1
    As the dominant daily trend is down corrective sideways to up movements could potentially be viewed as selling opportunities.

    Scenario 2
    Alternatively a breach of the 8 period moving averages could see Gold trade up to the 34 period moving averages.




    Daily Technical Analysis for Oil (WTI) as at 4th October 2013

    DAILY OVERVIEW

    Trend : Short
    Ambush Zone : -
    Target 1 : -
    Target 2 : -
    Stop : -



    Comments

    Monday’s down move eventually formed a bullish hammer. With the 101 level holding Oil was propelled higher and is now trading above the 8 period moving averages.

    As the trend on a swing bias is short we are monitoring the price action for potential shorting opportunities. However as the weekly time frame remains positive there is a possibility that this move down is just a correction.

    Scenario 1
    As the dominant daily trend is down retracements up to resistance such as the averages areas could possibly be viewed as selling opportunities.

    Scenario 2
    Alternatively one could possibly take scalp longs up to the averages.

  10. #140

    Default Daily Technical Analysis from ACFX 10/17/2013

    Daily Technical Analysis from ACFX 10/17/2013


    Daily Technical Analysis for EURUSD as at 17th October 2013

    DAILY OVERVIEW
    Trend : Long
    Ambush Zone : -
    Target 1 : -
    Target 2 : -
    Stop : -



    Comments

    Yesterday EURUSD experienced a great deal of news related volatility before finally closing slightly higher and in the process printing a bullish hammer candle.

    There appears to be on the bases of the last two session’s strong support for EURUSD at the 1.3470 area. This morning EURUSD is trading higher off yesterday’s positive close and is currently broken back above the 8 period moving averages which is our preferred indicator used for the purposes of dynamic support and resistance on the daily time frame.

    In terms of the daily trend the swing bias continues to be positive and this direction is being confirmed on the weekly time frame. Furthermore the averages layered positively and the RSI is in gear with the trend. We are monitoring a possible move to 1.3710 being a previous weekly pivot high.

    However it would appear the EURUSD might be trying to print a bearish Head and Shoulders top. A break lower could see EURUSD trade down to trend line support.

    Scenario 1
    As the dominant daily trend is up retracements into support could be viewed as buying opportunities with the current long term target being the 1.3710 resistance level.

    Scenario 2
    Alternatively as the price action is attempting to print a Head and Shoulders top a break of the neck line could see EURUSD trade substantially lower.


    Daily Technical Analysis for GBPUSD as at 17th October 2013

    DAILY OVERVIEW

    Trend : Long
    Ambush Zone : -
    Target 1 : -
    Target 2 : -
    Stop : -



    Comments

    Yesterday GBPUSD experienced a great deal of volatility and printed a relative wide range in what ended as a negative session. This morning GBPUSD has opened positively and paired most of yesterday’s losses.

    On a swing bases GBPUSD continues to trend positively on both daily and weekly time frames but has traded down off multiyear trend line resistance. This moved has followed through and breached the uptrend line support. However further support has been found at the 34 period moving averages where GBPUSD has bounced. If GBPUSD can hold this level there is potential for a retest of resistance and the 1.6400 area which coincides with a prior weekly pivot high.

    The long bias is reinforced by the RSI and the moving averages confirming the swing direction however a break of the 34 period moving averages could see GBPUSD trade down to 1.5700 area which coincides with the 1.5716 level being a previous swing pivot high of the 21st August 2013.

    Scenario 1
    As the dominant daily trend is up retracements into support could be viewed as buying opportunities.

    Scenario 2
    Alternatively a breach of the 34 period moving averages could see GBPUSD trade down the 1.5700 being a previous swing pivot high of the 21st August 2013.


    Daily Technical Analysis for USDCHF as at 17th October 2013

    DAILY OVERVIEW

    Trend : Down
    Ambush Zone : -
    Target 1 : -
    Target 2 : -
    Stop : -



    Comments

    Yesterday once again USDCHF attempted to breach the 34 period moving averages but failed in its attempt to trade above resistance. This failure to breach resistance has followed into today’s session with USDCHF trading lower and now breaching the 8 period moving averages. This move might be seen as a possible resumption of the down trend.

    On a swing bases the trend continues to be negative with support areas being 0.9020 and 0.8930.

    Scenario 1
    As the dominant daily trend is down corrective pullbacks could possibly offer selling opportunities with retracements back to the averages, the prior pivot low and broken support being value areas where shorts could potentially be added.

    Scenario 2
    Alternatively a failure to hold beneath the 8 period moving averages could see USDCHF trade back up to the 34 period moving averages.


    Daily Technical Analysis for USDJPY as at 17th October 2013

    DAILY OVERVIEW

    Trend : Short
    Ambush Zone : -
    Target 1 : -
    Target 2 : -
    Stop : -



    Comments

    USDJPY continues to trade within a converging triangle formation but is now retracing and trading higher following the breach of the 96.80 level which coincided with a prior swing low. This breach of this pivot has effectively changed the trend to short on a swing basis.

    However trend change to down maybe limited due to the strength of the uptrend’s that can be found in both Monthly and Weekly time frames. Therefore breaks of the converging triangle formation should be treated with care and possible entered after further confirmation is received.

    Scenario 1
    As the dominant daily trend is down retracements into resistance could be viewed as selling opportunities

    Scenario 2
    Alternatively a move above the converging triangle opens up a possibility of buying USDJPY with the view of participating in a large linear uptrend.

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