Page 17 of 60 FirstFirst ... 7151617181927 ... LastLast
Results 161 to 170 of 597
  60 60 Attachment(s)    

Thread: Daily Technical Analysis from ACFX

  1. #161

    Default

    Daily Technical Analysis from ACFX 11/19/2013


    Daily Technical Analysis for EURUSD as at 19th November 2013

    DAILY OVERVIEW

    Trend : Down



    Yesterday’s summary
    Yesterday EURUSD did manage to breach the over head trend line resistance only for the price action to fall back and close higher but under this level.

    Market open focus
    This morning EURUSD has traded down some 50 pips from yesterday’s high but is trading well above yesterday’s low. I am currently monitoring if EURUSD will break higher and in gear with the intraday trend.

    The possible projected maximum daily ranges based upon current price action are 1.3439 to 1.3596.

    Today’s scenarios
    1. EURUSD has traded above to the 8 period moving averages which is a value area where I am monitoring the possibility that the market once more rotates to the downside. This is reinforced by the EURUSD now trading at previous broken support. A downside break could mean EURUSD test the low of the 15th November trading range which is in line with the low of today’s projected trading range.

    2. Alternatively as EURUSD has penetrated and closed above the 8 period moving averages there is potential for a move to the 34 period moving averages. However the price action must first be able to penetrate current trend line resistance. Today’s upside target of the 34 period moving averages will require a move from today’s low of some 70 pips which is in within the upper limit of today’s projected high of the daily range.

    Macro trade Ideas
    1. The breach of the 16th October prior isolated low has changed the daily trend on a swing basis from up to down. This negative swing bias has been confirmed by multiple breaches of trend line support and the moving averages being layered negatively. Furthermore the RSI positive divergence has been invalidated by the 7th November break down. As the dominant daily trend based on swing analysis is down corrective pullbacks especially to resistance areas could be viewed as potential value areas where shorts could be added.

    2. However the weekly time frame continues to be swing positive. Therefore there is a possibility that the down trend on the daily chart is nothing more than a corrective sell off that brings the price action into potential value areas where long term swing position buy trades could be executed. It should also be noted that EURUSD has traded into a large Fibonacci support area where price action stalled and bounced. With this in mind there is potential for a substantial upside move that could bring the daily trend back into line with the weekly trend. This scenario is valid as long as EURUSD can trade above the 6th September swing long which comes in around the 1.3100 area.

    The Macro Technical Targets
    The upside targets are 1.3470, 1.3530, 1.3650, and 1.3830. The downside targets are 1.3300, 1.3200, 1.3100 and 1.2750.


    Daily Technical Analysis for GBPUSD as at 19th November 2013

    DAILY OVERVIEW

    Trend : Short



    Yesterday’s summary
    Yesterday GBPUSD experience a narrow range day with some 70 odd pips separating the high to the low. This is well below the daily average of 100 pips. GBPUSD continues to trade above the swing high of the 6th November and above both the downward sloping trend line and at the 34 period moving averages.

    Market open focus
    This morning GBPUSD has open and is trading in the middle of yesterday’s range. We are monitoring a possible initial move to the high or low of this range.

    The possible projected maximum daily ranges based upon current price action are 1.6050 to 1.6180.

    Today’s scenarios
    1. I am currently monitoring the price action as it now trades in between yesterday’s range. As this morning’s range is fairly tight an upside breach of the overnight high of 1.6148 could see GBPUSD make an attempt at reaching the multi month downward sloping trend line. However this would entail a move of 140 odd pips from the overnight low and therefore this might not be achievable during today’s session.

    2. Alternatively a break beneath yesterday’s low could see GBPUSD make an attempt at breaching trend line support. This move will be well within the projected daily range.

    Macro trade ideas
    1. Following the breach of the 16th October swing low the trend on a daily swing basis has changed from up to down. This move was preceded by multiple trend line breaks and the averages switching their bias from up to down. With the price action having also broken through Fibonacci support the down side is now very much in focus on the daily time frame. Conservative entry methods as a means to participate in the down move could be to wait for possible pullbacks to key value areas such as the 8 period moving averages and trend line resistance.

    2. Alternatively as the weekly time frame continues to have a positive swing bias and with the price action on the daily time frame very much extended from the averages there is a possibility of a substantial upside correction.

    Marco Technical Targets
    1.6260, 1.6170, 1.5890, 1.5715, 1.5570, 1.5720


    Daily Technical Analysis for USDCHF as at 19th November 2013

    DAILY OVERVIEW

    Trend : Up



    Yesterday’s summary
    Yesterday USDCHF traded and closed beneath Friday’s low following its attempt to breach trend line support. This move has taken USDCHF back into the area of between both positively layered averages.

    Market open focus
    This morning USDCHF is trading within yesterday’s New York range in what has so far been a quiet open.

    The possible projected maximum daily ranges based upon current price action are 0.9070 to 0.9165.


    Today’s scenarios
    1. With the price action now trading within moving average support and at trend line support a break above the overnight high of 0.9142 could see USDCHF attempt to trade up to the 15th November high.

    2. Alternatively a breach of the New York session low of 0.9095 could see USDCHF breach trend line support and trade down to the 34 period moving averages.

    Macro trade ideas
    1. On a basis swing bases the trend is now positive following the breach of the prior isolated high. The price action is trading within the positively layered moving averages and above trend line support after what has been a substantial downside correction. An upside break would have initial target of the 9th September swing high at 0.9455.

    2. However the weekly time frame continues to point down. Therefore a sustained breach of the 8 period moving averages puts into play a potential move to the 34 period moving averages

    Macro technical levels
    The macro technical levels are 0.9020 0.8930, 0.8570 and 0.9200.


    Daily Technical Analysis for USDJPY as at 19th November 2013

    DAILY OVERVIEW

    Trend : Up



    Yesterday’s summary
    Yesterday USDJPY was unable to continue with its upward momentum as it broke beneath Friday’s low. However late in the session USDJPY did manage to correct somewhat and in the process the price action managed to close marginally above Friday’s low.

    Market open focus
    This morning USDJPY has once again resumed its downward correction and has traded some 25 pips beneath yesterday’s low. I am monitoring price action to see if it can sustain a move beneath yesterday’s low.

    The price action has move some 88 pips lower off the 15th November high. This exceeds a daily true range projection by some 18 pips. Therefore USDJPY may find it needs to retrace somewhat before moving lower. The upside project is 100.25.

    Today’s scenarios
    1. I am currently monitoring if USDJPY can bounce off the trend line support with a resulting move taking the price action back up to at least the 100 level.

    2. Alternatively a failure to sustain a move above the previous day’s low could see USDJPY trade back down to the area of the 13th November low at 99.10.

    Macro trade ideas
    1. With USDJPY having breached the prior swing high of the 17th October has changed the trend on a swing bias to up. The change of the daily trend now puts the swing bias in line with the weekly trend. The breach of both the downward sloping trend line and significant 100 level now puts in play potential moves to both 100.60 and 101.50 swing levels.

    2. Alternatively failure to sustain a move above the downward sloping trend line and significant 100 level added to the downside pressure offered by the Fibonacci area could lead to USDJPY trading back deep into the prior triangle pattern.

  2. #162

    Default

    Daily Technical Analysis from ACFX 11/20/2013


    Daily Technical Analysis for EURUSD as at 20th November 2013




    Yesterday’s summary
    Yesterday European open was initially positive as EURUSD traded marginally above the previous day’s high. However EURUSD reversed during the early morning session and tested but did not breach the previous day’s low. The holding of support gave EURUSD an opportunity to build a base from where it once again tested and this time breached intraday resistance. Ultimately EURUSD closed the day up and above trend line resistance.


    Market open focus
    The overnight session has seen EURUSD trade 33 pips above the previous day’s high. However the price action found resistance at the 34 period moving averages and has since retraced most of its gains and is now trading just above intraday support.

    We are monitoring the price action around the overnight 1hour pivot high for an indication of today’s possible market direction with potential longs above 1.3580 and shorts beneath 1.3530.

    The possible projected maximum daily ranges based upon current price action are 1.3480 to 1.3580.


    Today’s scenarios
    1. EURUSD has traded up to but found resistance at the 34 period moving averages. If the price action can hold beneath this average there is a possibility that EURUSD trades down to the previous day’s low which coincides with the 8 period moving averages.

    2. Alternatively as EURUSD has now made an initial attempt to penetrate the 34 period moving averages so early in the session there is a possibility that a further attempt is made today to breach this level. However the move up from yesterday’s low are some 90 pips which equate to us around 1 daily average range. Therefore is a question mark on how much more energy EURUSD has left to continue the up thrust from here.


    Macro trade Ideas
    1. The breach of the 16th October prior isolated low has changed the daily trend on a swing basis from up to down. This negative swing bias has been confirmed by multiple breaches of trend line support and the moving averages being layered negatively. As the dominant daily trend based on swing analysis is down corrective pullbacks especially to resistance areas could be viewed as potential value areas where shorts could be added.

    2. However the weekly time frame continues to be swing positive. Therefore there is a possibility that the down trend on the daily chart is nothing more than a corrective sell off that brings the price action into potential value areas where long term swing position buy trades could be executed. It should also be noted that EURUSD has traded into a large Fibonacci support area where price action stalled and bounced. With this in mind there is potential for a substantial upside move that could bring the daily trend back into line with the weekly trend. This scenario is valid as long as EURUSD can trade above the 6th September swing long which comes in around the 1.3100 area.


    The Macro Technical Targets
    The upside targets are 1.3470, 1.3530, 1.3650, and 1.3830. The downside targets are 1.3300, 1.3200, 1.3100 and 1.2750.


    Daily Technical Analysis for GBPUSD as at 19th November 2013





    Yesterday’s summary
    Yesterday GBPUSD experience another narrow range day with some 70 odd pips separating the high to the low. This is well below the daily average of 100 pips. GBPUSD continues to trade above the swing high of the 6th November and above both the downward sloping trend line and at the 34 period moving averages.


    Market open focus
    This morning GBPUSD has opened mixed and is trading in the middle of yesterday’s range.

    We are monitoring a possible initial break of the high or low of this range.

    The possible projected maximum daily ranges based upon current price action are 1.6040 to 1.6160.


    Today’s scenarios
    1. I am currently monitoring the price action as it now trades in between yesterday’s range. As this morning’s range is fairly tight an upside breach of the 18th November high of 1.6148 could see GBPUSD make an attempt at reaching the multi month downward sloping trend line. However this would entail a move of 140 odd pips from the overnight low and therefore this might not be achievable during today’s session.

    2. Alternatively a break beneath yesterday’s low could see GBPUSD make an attempt at breaching trend line support. This move will be well within the projected daily range.


    Macro trade ideas
    1. Following the breach of the 16th October swing low the trend on a daily swing basis has changed from up to down. This move was preceded by multiple trend line breaks and the averages switching their bias from up to down. With the price action having also broken through Fibonacci support the down side is now very much in focus on the daily time frame. Conservative entry methods as a means to participate in the down move could be to wait for possible pullbacks to key value areas such as the 8 period moving averages and trend line resistance.

    2. Alternatively as the weekly time frame continues to have a positive swing bias and with the price action on the daily time frame very much extended from the averages there is a possibility of a substantial upside correction.


    Marco Technical Targets
    1.6260, 1.6170, 1.5890, 1.5715, 1.5570, 1.5720



    Daily Technical Analysis for USDCHF as at 20th November 2013




    Yesterday’s summary
    Yesterday USDCHF open mixed but then experienced a modest up thrust but which failed to breach the prior session high. During the New York session USDCHF began to weaken and traded down and in the process breached and closed beneath the prior session low.


    Market open focus
    This morning USDCHF continued to follow the prior sessions lead and traded lower but has found support at the 34 period moving averages.

    The possible projected maximum daily ranges based upon current price action are 0.9075 to 0.9145.


    Today’s scenarios
    1. USDCHF is now trading beneath yesterday’s session low but is finding support at the 34 period moving averages. If support can hold there is a possibility that USDCHF trades up to the previous sessions high.

    2. Alternatively a breach of the overnight low could see USDCHF breach the 34 period moving averages.


    Macro trade ideas
    1. On a basis swing bases the trend is now positive following the breach of the prior isolated high. The price action is trading within the positively layered moving averages and above trend line support after what has been a substantial downside correction. An upside break would have initial target of the 9th September swing high at 0.9455.

    2. However the weekly time frame continues to point down. Therefore a sustained breach of the 8 period moving averages puts into play a potential move to the 34 period moving averages.

    Macro technical levels
    The macro technical levels are 0.9020 0.8930, 0.8570 and 0.9200.



    Daily Technical Analysis for USDJPY as at 20th November 2013




    Yesterday’s summary
    Yesterday USDJPY traded down to the 8 period moving averages where it found support at 99.56. Off support USDJPY traded higher and this led to an intraday one hour swing low pivot being printed. The up move off support continued with USDJPY printing an intraday higher low and high higher sequence. USDJPY finally closed day above the prior days high.


    Market open focus
    This morning USDJPY has opened and trading lower from yesterday’s session high. I am monitoring a potential move down to yesterday’s session intraday support level.

    The possible projected maximum daily ranges based upon current price action are 99.50 to 100.60.


    Today’s scenarios
    1. I am currently monitoring if USDJPY can bounce off the trend line support with a resulting move taking the price action back up to at least the 100.60 level.

    2. Alternatively a failure to sustain a move above the previous day’s high could see USDJPY trade back down yesterday’s session low.


    Macro trade ideas
    1. With USDJPY having breached the prior swing high of the 17th October has changed the trend on a swing bias to up. The change of the daily trend now puts the swing bias in line with the weekly trend. The breach of both the downward sloping trend line and significant 100 level now puts in play potential moves to both 100.60 and 101.50 swing levels.

    2. Alternatively failure to sustain a move above the downward sloping trend line and significant 100 level added to the downside pressure offered by the Fibonacci area could lead to USDJPY trading back deep into the prior triangle pattern.

  3. #163

    Default

    Daily Technical Analysis from ACFX 11/21/2013


    Daily Technical Analysis for EURUSD as at 21st November 2013



    Yesterday’s summary
    During yesterday’s session EURUSD initially traded higher. This move resulted in EURUSD printing a 1 hour swing pivot high with a range of some 45 pips. During the London morning session EURUSD tested and traded around the bottom of this range prior to breaking aggressively down in the New York session. EURUSD eventually found support late in the New York session slightly above the 1.3400 level.

    Market open focus
    Overnight EURUSD has traded within a 30 pip range above the 1.3400 level. The key morning levels to watch are 1.3410 and 1.3450.

    The possible projected maximum daily ranges based upon current price action are 1.3350 to 1.3510.

    Today’s scenarios
    1. EURUSD is trading within a 30 pip early morning range. I am monitoring potential shorts below 1.3410 with a target of 1.3350. However the 1.3400 may offer additional support.

    2. Alternatively a potential break above 1.3450 has an upside intraday target of 1.3510.

    Macro trade Ideas
    1. The breach of the 16th October prior isolated low has changed the daily trend on a swing basis from up to down. The move back up to the averages and previously broken trend line yesterday proved a good value area where shorts could be added. I am monitoring a continuation of the move down to the 7th November low at 1.3300 levels a prior daily swing low.

    2. However the weekly time frame continues to be swing positive. Therefore there is a possibility that the down trend on the daily chart is nothing more than a corrective sell off that brings the price action into potential value areas where long term swing position buy trades could be executed. It should also be noted that EURUSD has traded into a large Fibonacci support area where price action stalled and bounced. With this in mind there is potential for a substantial upside move that could bring the daily trend back into line with the weekly trend. This scenario is valid as long as EURUSD can trade above the 1st September swing long which comes in around the 1.3100 area.

    The Macro Technical Targets
    The upside targets are 1.3470, 1.3530, 1.3650, and 1.3830. The downside targets are 1.3300, 1.3200, 1.3100 and 1.2750.


    Daily Technical Analysis for GBPUSD as at 21st November 2013



    Yesterday’s summary
    Yesterday GBPUSD trade higher in the European / London session. This was in contrast to the 30 pip range consolidation during the Tokyo session. This positivity continued into the New York session before abruptly reversing off the highs and collapsing by some 90 pips.

    Market open focus
    The overnight price action has seen GBPUSD trade lower during the Tokyo session only for support to come into the market at the 1.6070 level which also corresponds to trend line and slightly above the 19th November low.

    Key early morning levels to watch are 1.6070 and 1.6100.

    The possible projected maximum daily ranges based upon current price action are 1.6010 to 1.6170.

    Today’s scenarios
    1. GBPUSD is trading within a 30 pip early morning range. I am monitoring potential shorts below 1.6070 with a target of 1.6010.

    2. Alternatively a potential break above 1.6100 has an upside intraday target of 1.6170.

    Macro trade ideas
    1. Following the breach of the 16th October swing low the trend on a daily swing basis has changed from up to down. This move was preceded by multiple trend line breaks and the averages switching their bias from up to down. With the price action having also broken through Fibonacci support the down side is now very much in focus on the daily time frame. Conservative entry methods as a means to participate in the down move could be to wait for possible pullbacks to key value areas such as the 8 period moving averages and trend line resistance.

    2. Alternatively as the weekly time frame continues to have a positive swing bias and with the price action on the daily time frame very much extended from the averages there is a possibility of a substantial upside correction.

    Marco Technical Targets
    1.6260, 1.6170, 1.5890, 1.5715, 1.5570, 1.5720



    Daily Technical Analysis for USDCHF as at 21st November 2013



    Yesterday’s summary
    USDCHF yesterday traded initially lower during the Tokyo session. The move down was halted the 0.9078 level which corresponds with the 34 period moving averages. USDCHF consolidated off its lows in both the Tokyo and London sessions. This consolidation did not last long as USDCHF as the price action broke aggressively higher during the New York session. The upside breakout printed a high at 0.9192.


    Market open focus
    The high print at 0.9192 has once been followed by a consolidation at the highs and a 33 range. The key morning levels to watch are 0.9159 and 0.9192.

    The possible projected maximum daily ranges based upon current price action are 0.9120 to 0.9230.


    Today’s scenarios
    1. USDCHF is trading within a 33 pip early morning range. I am monitoring potential shorts below 0.9159 with a target of 0.9120.

    2. Alternatively a potential break above 0.9192 has an upside intraday target of 0.9230.

    Macro trade ideas
    1. On a basis swing bases the trend is now positive following the breach of the prior isolated high. The price action has broken higher since trading within positively layered moving averages and above trend line support after what has been a substantial downside correction. An upside break would have initial target of the 9th September swing high at 0.9455.

    2. However the weekly time frame continues to point down. Therefore a sustained breach of the 8 period moving averages puts into play a potential move to the 34 period moving averages

    Macro technical levels
    The macro technical levels are 0.9020 0.8930, 0.8570 and 0.9200.



    Daily Technical Analysis for USDJPY as at 21st November 2013



    Yesterday’s summary
    Yesterday USDJPY traded within the range of the previous day’s session’s in what was a 45 pip range. A swing pivot London session 1 hour low was printed at 99.77.

    Market open focus
    USDJPY broke higher off the previous day’s low early in the Tokyo session. This moved continued throughout the morning. This has resulted in USDJPY printing a high early in the London session. This move has taken out the 11th September 100.60 high.

    The key morning levels to watch are 100.65 and 100.85.

    The possible projected maximum daily ranges based upon current price action are 100.10 to 101.35.

    Today’s scenarios
    1. USDJPY is trading within a 20 pip early morning range. I am monitoring potential shorts below 100.65 with a target of 100.10.

    2. Alternatively a potential break above 100.85 has an upside intraday target of 101.35.

    Macro trade ideas
    1. With USDJPY having breached the prior swing high of the 17th October has changed the trend on a swing bias to up. The change of the daily trend now puts the swing bias in line with the weekly trend. The breach of both the downward sloping trend line and significant 100 levels now puts in play potential moves 101.50 swing levels. The previous 100.60 target having been reached this morning.

    2. Alternatively failure to sustain a move above the 100.60 level could possibly see USDJPY trade back to the prior broken converging triangle.

  4. #164

    Default

    Daily Technical Analysis from ACFX 11/22/2013


    Daily Technical Analysis for EURUSD as at 22nd November 2013



    Yesterday’s summary
    Yesterday initially EURUSD traded lower and marginally breached the 1.3400 level. This down move turned out to be the full extent of yesterday’s negativity as EURUSD reversed and broke higher from this level during the London session.

    During the New York session EURUSD continued to trade higher and eventually close near the top of its daily range.

    Market open focus
    EURUSD has been trading within a 40 odd pip overnight and Tokyo session range being 1.3444 to 1.3486. Currently EURUSD is currently attempting to breach the top of this range.

    The key intraday levels to watch are 1.3399, 1.3433, 1.3444, 1.3486, 1.3532, and 1.3578.

    The possible projected maximum daily ranges based upon current price action are 1.3399 to 1.3510.

    Today’s scenarios
    1. EURUSD is trading within a 40 pip early morning range. I am monitoring potential shorts below 1.3444 with a target of 1.3399. However the 1.3433 may offer additional support.

    2. Alternatively a potential break above 1.3486 has an upside intraday target of 1.3510.

    Macro trade Ideas
    1. The breach of the 16th October prior isolated low has changed the daily trend on a swing basis from up to down. The move back up to the averages and previously broken trend line has proved a good value area where shorts could be added. I am monitoring a continuation of the move down to the 7th November low at 1.3300 levels a prior daily swing low.

    2. However the weekly time frame continues to be swing positive. Therefore there is a possibility that the down trend on the daily chart is nothing more than a corrective sell off that brings the price action into potential value areas where long term swing position buy trades could be executed. It should also be noted that EURUSD has traded into a large Fibonacci support area where price action stalled and bounced. With this in mind there is potential for a substantial upside move that could bring the daily trend back into line with the weekly trend. This scenario is valid as long as EURUSD can trade above the 1st September swing long which comes in around the 1.3100 area.

    The Macro Technical Targets
    The upside targets are 1.3470, 1.3530, 1.3650, and 1.3830. The downside targets are 1.3300, 1.3200, 1.3100 and 1.2750.



    Daily Technical Analysis for GBPUSD as at 22nd November 2013



    Yesterday’s summary
    GBPUSD traded lower during the Tokyo session before it found support and reversed at the 1.6070 level. Off this low GBPUSD broke higher during the European / London session. The move higher continued into the New York session with the GBPUSD eventually closing at its highs and printing a large 130 pip daily range.

    Market open focus
    This morning’s Tokyo session range of 1.6174 and 1.6202 being some 27 pips is relatively small compared to the prior sessions. GBPUSD has already made one attempt this morning to trade above the high of this range.

    The key intraday levels to watch are 1.6070, 1.6108, 1.6174, and 1.6202.
    The possible projected maximum daily ranges based upon current price action are 1.6100 to 1.6275.

    Today’s scenarios
    1. GBPUSD is trading within a 27 pip early morning range. I am monitoring potential shorts below 1.6174 with a target of 1.6100.

    2. Alternatively a potential break above 1.6202 has an upside intraday target of 1.6275.

    Macro trade ideas
    1. The breach of the 16th October swing low the trend on a daily swing basis has changed from up to down. However the breach of the 6th November minor swing high and the averages crossing positively does put a question mark with respect to the strength of this trend. Despite this and with GBPUSD now trading up to multi month trend line resistance may offer a potential opportunity for the price action to once again reverse to the down side.

    2. Alternatively the weekly time frame continues to have a positive swing bias which could indicate that the daily chart negativity could be little more than a downside correction. A break above the 23rd October high would confirm this scenario.

    Marco Technical Targets
    1.6260, 1.6170, 1.5890, 1.5715, 1.5570, 1.5720



    Daily Technical Analysis for USDCHF as at 22nd November 2013



    Yesterday’s summary
    USDCHF yesterday traded higher during Tokyo session prior to breaking lower at the London open. The New York session saw USDCHF consolidate within a tight 25 pip range prior to resuming the downward momentum in overnight trading.

    Market open focus
    This morning’s Tokyo has seen USDCHF trade with a tight 23 pip range. I am currently monitoring a breach of 0.9126 being the bottom of the range during the London session.

    The key intraday levels to watch are 0.9078, 0.9112, 0.9159, and 0.9192.
    The possible projected maximum daily ranges based upon current price action are 0.9078 to 0.9192.


    Today’s scenarios
    1. USDCHF is trading within a 23 pip early morning range. I am monitoring potential shorts below 0.9126 with a target of 0.9078.

    2. Alternatively a potential break above 0.9150 has an upside intraday target of 0.9192.

    Macro trade ideas
    1. On a basis swing bases the trend is now positive following the breach of the prior isolated high. The price action has broken higher since trading within positively layered moving averages and above trend line support after what has been a substantial downside correction. An upside break would have initial target of the 9th September swing high at 0.9455.

    2. However the weekly time frame continues to point down. Therefore a sustained breach of the 8 period moving averages puts into play a potential move to the 34 period moving averages

    Macro technical levels
    The macro technical levels are 0.9020 0.8930, 0.8570 and 0.9200.



    Daily Technical Analysis for USDJPY as at 22nd November 2013



    Yesterday’s summary
    Yesterday USDJPY traded higher during the Tokyo session and this positivity continued in the London and New York sessions in what was a very large 115 pip daily range.

    Market open focus
    During this morning’s Tokyo session USDJPY has traded within a 35 pip range. I am currently monitoring an initial attempt break beneath 100.98 being the bottom of this range.

    The key morning levels to watch are 99.59, 99.99, 100.98, and 101.35.

    The possible projected maximum daily ranges based upon current price action are 100.60 to 101.70.

    Today’s scenarios
    1. USDJPY is trading within a 35 pip early morning range. I am monitoring potential shorts below 100.98 with a target of 100.60.

    2. Alternatively a potential break above 101.35 has an upside intraday target of 101.70.

    Macro trade ideas
    1. With USDJPY having breached the prior swing high of the 17th October has changed the trend on a swing bias to up. The change of the daily trend now puts the swing bias in line with the weekly trend. The breach of both the downward sloping trend line and significant 100 levels now puts in play potential moves 101.50 swing levels. The previous 100.60 target having been reached.

    2. Alternatively failure to sustain a move above the 100.60 level could possibly see USDJPY trade back to the prior broken converging triangle.

  5. #165

    Default

    Daily Technical Analysis from ACFX 11/22/2013


    Daily Technical Analysis for EURUSD as at 22nd November 2013



    Yesterday’s summary
    Yesterday initially EURUSD traded lower and marginally breached the 1.3400 level. This down move turned out to be the full extent of yesterday’s negativity as EURUSD reversed and broke higher from this level during the London session.

    During the New York session EURUSD continued to trade higher and eventually close near the top of its daily range.

    Market open focus
    EURUSD has been trading within a 40 odd pip overnight and Tokyo session range being 1.3444 to 1.3486. Currently EURUSD is currently attempting to breach the top of this range.

    The key intraday levels to watch are 1.3399, 1.3433, 1.3444, 1.3486, 1.3532, and 1.3578.

    The possible projected maximum daily ranges based upon current price action are 1.3399 to 1.3510.

    Today’s scenarios
    1. EURUSD is trading within a 40 pip early morning range. I am monitoring potential shorts below 1.3444 with a target of 1.3399. However the 1.3433 may offer additional support.

    2. Alternatively a potential break above 1.3486 has an upside intraday target of 1.3510.

    Macro trade Ideas
    1. The breach of the 16th October prior isolated low has changed the daily trend on a swing basis from up to down. The move back up to the averages and previously broken trend line has proved a good value area where shorts could be added. I am monitoring a continuation of the move down to the 7th November low at 1.3300 levels a prior daily swing low.

    2. However the weekly time frame continues to be swing positive. Therefore there is a possibility that the down trend on the daily chart is nothing more than a corrective sell off that brings the price action into potential value areas where long term swing position buy trades could be executed. It should also be noted that EURUSD has traded into a large Fibonacci support area where price action stalled and bounced. With this in mind there is potential for a substantial upside move that could bring the daily trend back into line with the weekly trend. This scenario is valid as long as EURUSD can trade above the 1st September swing long which comes in around the 1.3100 area.

    The Macro Technical Targets
    The upside targets are 1.3470, 1.3530, 1.3650, and 1.3830. The downside targets are 1.3300, 1.3200, 1.3100 and 1.2750.



    Daily Technical Analysis for GBPUSD as at 22nd November 2013



    Yesterday’s summary
    GBPUSD traded lower during the Tokyo session before it found support and reversed at the 1.6070 level. Off this low GBPUSD broke higher during the European / London session. The move higher continued into the New York session with the GBPUSD eventually closing at its highs and printing a large 130 pip daily range.

    Market open focus
    This morning’s Tokyo session range of 1.6174 and 1.6202 being some 27 pips is relatively small compared to the prior sessions. GBPUSD has already made one attempt this morning to trade above the high of this range.

    The key intraday levels to watch are 1.6070, 1.6108, 1.6174, and 1.6202.
    The possible projected maximum daily ranges based upon current price action are 1.6100 to 1.6275.

    Today’s scenarios
    1. GBPUSD is trading within a 27 pip early morning range. I am monitoring potential shorts below 1.6174 with a target of 1.6100.

    2. Alternatively a potential break above 1.6202 has an upside intraday target of 1.6275.

    Macro trade ideas
    1. The breach of the 16th October swing low the trend on a daily swing basis has changed from up to down. However the breach of the 6th November minor swing high and the averages crossing positively does put a question mark with respect to the strength of this trend. Despite this and with GBPUSD now trading up to multi month trend line resistance may offer a potential opportunity for the price action to once again reverse to the down side.

    2. Alternatively the weekly time frame continues to have a positive swing bias which could indicate that the daily chart negativity could be little more than a downside correction. A break above the 23rd October high would confirm this scenario.

    Marco Technical Targets
    1.6260, 1.6170, 1.5890, 1.5715, 1.5570, 1.5720



    Daily Technical Analysis for USDCHF as at 22nd November 2013



    Yesterday’s summary
    USDCHF yesterday traded higher during Tokyo session prior to breaking lower at the London open. The New York session saw USDCHF consolidate within a tight 25 pip range prior to resuming the downward momentum in overnight trading.

    Market open focus
    This morning’s Tokyo has seen USDCHF trade with a tight 23 pip range. I am currently monitoring a breach of 0.9126 being the bottom of the range during the London session.

    The key intraday levels to watch are 0.9078, 0.9112, 0.9159, and 0.9192.
    The possible projected maximum daily ranges based upon current price action are 0.9078 to 0.9192.


    Today’s scenarios
    1. USDCHF is trading within a 23 pip early morning range. I am monitoring potential shorts below 0.9126 with a target of 0.9078.

    2. Alternatively a potential break above 0.9150 has an upside intraday target of 0.9192.

    Macro trade ideas
    1. On a basis swing bases the trend is now positive following the breach of the prior isolated high. The price action has broken higher since trading within positively layered moving averages and above trend line support after what has been a substantial downside correction. An upside break would have initial target of the 9th September swing high at 0.9455.

    2. However the weekly time frame continues to point down. Therefore a sustained breach of the 8 period moving averages puts into play a potential move to the 34 period moving averages

    Macro technical levels
    The macro technical levels are 0.9020 0.8930, 0.8570 and 0.9200.



    Daily Technical Analysis for USDJPY as at 22nd November 2013



    Yesterday’s summary
    Yesterday USDJPY traded higher during the Tokyo session and this positivity continued in the London and New York sessions in what was a very large 115 pip daily range.

    Market open focus
    During this morning’s Tokyo session USDJPY has traded within a 35 pip range. I am currently monitoring an initial attempt break beneath 100.98 being the bottom of this range.

    The key morning levels to watch are 99.59, 99.99, 100.98, and 101.35.

    The possible projected maximum daily ranges based upon current price action are 100.60 to 101.70.

    Today’s scenarios
    1. USDJPY is trading within a 35 pip early morning range. I am monitoring potential shorts below 100.98 with a target of 100.60.

    2. Alternatively a potential break above 101.35 has an upside intraday target of 101.70.

    Macro trade ideas
    1. With USDJPY having breached the prior swing high of the 17th October has changed the trend on a swing bias to up. The change of the daily trend now puts the swing bias in line with the weekly trend. The breach of both the downward sloping trend line and significant 100 levels now puts in play potential moves 101.50 swing levels. The previous 100.60 target having been reached.

    2. Alternatively failure to sustain a move above the 100.60 level could possibly see USDJPY trade back to the prior broken converging triangle.

  6. #166

    Default

    Daily Technical Analysis from ACFX 11/25/2013

    Daily Technical Analysis for EURUSD as at 25th November 2013



    Yesterday’s summary
    Friday initially EURUSD traded lower during the Tokyo session. However this negativity was short lived as EURUSD reversed off its lows and broke higher into the London session. This move continued into the New York session and saw EURUSD close on a daily and weekly basis near to its highs.

    Market open focus
    This morning’s Toyo session has seen EURUSD correct some 25 pip lower from the session highs. We are monitoring the price action for signs of as continuation of this down move into the London session.

    The key intraday levels to watch are 1.3398, 1.3442, 1.3460, 1.3475, 1.3536 and 1.3560.

    The possible projected maximum daily ranges based upon current price action are 1.3460 to 1.3630.

    Today’s scenarios
    1. EURUSD is trading within a 25 pip early morning range. I am monitoring potential shorts below 1.3536 with a target of 1.3460.

    2. Alternatively a potential break above 1.3560 has an upside intraday target of 1.3630.

    Macro trade Ideas
    1. The breach of the 16th October prior isolated low has changed the daily trend on a swing basis from up to down. The move back up to the averages and previously broken trend line has proved a good value area where shorts could be added. I am monitoring a continuation of the move down to the 7th November low at 1.3300 levels a prior daily swing low.

    2. Alternatively the weekly time frame continues to be swing positive. Therefore there is a possibility that the down trend on the daily chart is nothing more than a corrective sell off that brings the price action into potential value areas where long term swing position buy trades could be executed. It should also be noted that EURUSD has traded into a large Fibonacci support area where price action stalled and bounced. With this in mind there is potential for a substantial upside move that could bring the daily trend back into line with the weekly trend. This scenario is valid as long as EURUSD can trade above the 1st September swing long which comes in around the 1.3100 area.

    The Macro Technical Targets
    The upside targets are 1.3470, 1.3530, 1.3650, and 1.3830. The downside targets are 1.3300, 1.3200, 1.3100 and 1.2750.



    Daily Technical Analysis for GBPUSD as at 25th November 2013



    Yesterday’s summary
    Friday GBPUSD traded in a tight range during Tokyo trading before trading marginally higher during the London and New York sessions.

    Market open focus
    This morning has seen GBPUSD correct some 33 points lower off its opening Tokyo session morning high. I am monitoring the 1.6202 level as a possible area of support or if broken an indication that the downside correction will be extended into the London session.

    The key intraday levels to watch are 1.6071, 1.6107, 1.6175, 1.6202 and1.6240.
    The possible projected maximum daily ranges based upon current price action are 1.6140 to 1.6300.

    Today’s scenarios
    1. GBPUSD is trading within a 30 pip early morning range. I am monitoring potential shorts below 1.6202 with a target of 1.6140.

    2. Alternatively a potential break above 1.6240 has an upside intraday target of 1.6300.

    Macro trade ideas
    1. The breach of the 16th October swing low has changed the trend on a daily swing basis from up to down. However both the breach of the 6th November minor swing high and the averages crossing positively does put a question mark on the strength of this trend. Despite this and with GBPUSD now trading up to multi month trend line resistance may offer a potential opportunity for the price action to once again reverse to the down side.

    2. Alternatively the weekly time frame continues to have a positive swing bias which could indicate that the daily chart negativity could be little more than a downside correction. A break above the 23rd October high would confirm this scenario.

    Marco Technical Targets
    1.6260, 1.6170, 1.5890, 1.5715, 1.5570, 1.5720




    Daily Technical Analysis for USDCHF as at 25th November 2013



    Yesterday’s summary
    Friday USDCHF initial traded lower during Tokyo session prior to breaking down. This down move continued and accelerated during the London and New York sessions.

    Market open focus
    USDCHF has bounced off the downward sloping trend line during this morning’s Tokyo session. I am monitoring the possibility for this bounce to continue during London trading

    The key intraday levels to watch are 0.9060, 0.9089, 0.9150, 0.9159 and 0.9192.
    The possible projected maximum daily ranges based upon current price action are 0.9020 to 0.9130.

    Today’s scenarios
    1. USDCHF is trading within a 30 pip early morning range. I am monitoring potential longs above 0.9089 with a target of 0.9130.

    2. Alternatively a potential break below 0.9060 has a downside intraday target of 0.9020.

    Macro trade ideas
    1. On a basis swing bases the trend is now positive following the breach of the prior isolated high. However the price action has been struggling to extend a move away from the downside sloping trend line. Notwithstanding this as long USDCHF can trade above 0.8889 being the current isolated low then the potential for a substantial upside breakout is possibility.

    2. However the weekly time frame continues to point down. Therefore a sustained breach of the 34 period moving averages puts into play a move to the 0.8889 isolated low areas.

    Macro technical levels
    The macro technical levels are 0.9020 0.8930, 0.8570 and 0.9200.



    Daily Technical Analysis for USDJPY as at 25th November 2013



    Yesterday’s summary
    Friday USDJPY traded within a range of some 40 pips throughout the Tokyo, London and New York session.

    Market open focus
    In comparison to Friday’s small range USDJPY has broken higher and already traded an 80 pip range during this morning’s Tokyo session. This morning’s move has in the process taken out the 101.52 level being a prior swing high. I am monitoring the possibility that this positive market action continues into the London session.

    The key intraday levels to watch are 99.54, 100.26, 100.95, 101.60, and 101.93.

    The possible projected maximum daily ranges based upon current price action are 101.15 to 101.92.

    Today’s scenarios
    1. USDJPY has traded an 80 pip early morning break out. I am monitoring potential longs above 101.93. However as this morning’s move already equates to one daily average range further upside maybe limited.

    2. Alternatively a potential break beneath 101.60 has a downside intraday target of 101.15.

    Macro trade ideas
    1. With USDJPY having breached the prior swing high of the 17th October has changed the trend on a swing bias to up. The change of the daily trend now puts the swing bias in line with the weekly trend. The breach of both the downward sloping trend line and significant 100 levels now puts in play potential moves 103.73 swing level which is also a major multi year high. The previous 101.52 target having been breached this morning.

    2. Alternatively failure to sustain a move above the 101.52 level could possibly see USDJPY trade back to the prior broken converging triangle.

  7. #167

    Default Daily Technical Analysis from ACFX 11/26/2013

    Daily Technical Analysis from ACFX 11/26/2013


    Daily Technical Analysis for EURUSD as at 26th November 2013



    Yesterday’s summary
    Yesterday’s Tokyo session opened with an attempt to breach trend line resistance during the first hour of trading. However this attempt was quickly turned back which led to EURUSD trading moderately down. This trend continued through to the London and New York sessions in what was a relatively small 65 pip range day.

    Market open focus
    This morning’s EURUSD has opened slightly higher off yesterday’s low with the price action trading back up into a previous two day congestion area.

    The key intraday levels to watch are 1.3398, 1.3442, 1.3535 and 1.3560.

    The possible projected maximum daily ranges based upon current price action are 1.3445 to 1.3600.

    Today’s scenarios
    1. EURUSD is trading within a 26 pip early morning range. I am monitoring potential shorts below 1.3535 with a target of 1.3445.

    2. Alternatively a potential break above 1.3560 has an upside intraday target of 1.3600.

    Macro trade Ideas
    1. The breach of the 16th October prior isolated low has changed the daily trend on a swing basis from up to down. The move back up to the averages and previously broken trend line has proved a good value area where shorts could be added. I am monitoring a continuation of the move down to the 7th November low at 1.3300 levels a prior daily swing low.

    2. Alternatively the weekly time frame continues to be swing positive. Therefore there is a possibility that the down trend on the daily chart is nothing more than a corrective sell off that brings the price action into potential value areas where long term swing position buy trades could be executed. It should also be noted that EURUSD has traded into a large Fibonacci support area where price action stalled and bounced. With this in mind there is potential for a substantial upside move that could bring the daily trend back into line with the weekly trend. This scenario is valid as long as EURUSD can trade above the 1st September swing long which comes in around the 1.3100 area.

    The Macro Technical Targets
    The upside targets are 1.3470, 1.3530, 1.3650, and 1.3830. The downside targets are 1.3300, 1.3200, 1.3100 and 1.2750.


    Daily Technical Analysis for GBPUSD as at 26th November 2013



    Yesterday’s summary
    Yesterday GBPUSD traded lower throughout the Tokyo, London and New York sessions. However support did come into the market above the 1.6130 level which led to the market forming a 25 pip congestion zone at trend line support.

    Market open focus
    This morning has seen GBPUSD within a 43 pip range during the Tokyo session. I am monitoring a potential upside break of this range during London early morning trading.

    The key intraday levels to watch are 1.6071, 1.6107, 1.6132, 1.6175, 1.6202 and 1.6240.
    The possible projected maximum daily ranges based upon current price action are 1.6090 to 1.6230.

    Today’s scenarios
    1. GBPUSD is trading within a 43 pip early morning range. I am monitoring potential shorts below 1.6132with a target of 1.6090.

    2. Alternatively a potential break above 1.6175 has an upside intraday target of 1.6230.

    Macro trade ideas
    1. The breach of the 16th October swing low has changed the trend on a daily swing basis from up to down. However both the breach of the 6th November minor swing high and the averages crossing positively does put a question mark on the strength of this trend. Despite this and with GBPUSD now trading up to multi month trend line resistance may offer a potential opportunity for the price action to once again reverse to the down side.

    2. Alternatively the weekly time frame continues to have a positive swing bias which could indicate that the daily chart negativity could be little more than a downside correction. A break above the 23rd October high would confirm this scenario.

    Marco Technical Targets
    1.6260, 1.6170, 1.5890, 1.5715, 1.5570, 1.5720



    Daily Technical Analysis for USDCHF as at 26th November 2013



    Yesterday’s summary
    Yesterday saw USDCHF trade higher throughout the Tokyo, London and New York sessions with the price action closing near to its highs.

    Market open focus
    USDCHF has traded lower over the overnight and this morning’s Tokyo session. This price action has seen USDCHF break down from the previous days 24 pip area of congestion and into the previous sessions 0.9089 to 0.9060 area of support.

    The key intraday levels to watch are 0.9060, 0.9089, 0.9107, 0.9131, 0.9137, 0.9150, 0.9159 and 0.9192.
    The possible projected maximum daily ranges based upon current price action are 0.9050 to 0.9150.


    Today’s scenarios
    1. USDCHF has this morning traded down from the previous day’s high into the area of previous day’s support. I am monitoring a potential bounce off 0.9089.

    2. Alternatively a potential break below 0.9060 has a downside intraday target of 0.9050.

    Macro trade ideas
    1. On a basis swing bases the trend is now positive following the breach of the prior isolated high. However the price action has been struggling to extend a move away from the downside sloping trend line. Notwithstanding this as long USDCHF can trade above 0.8889 being the current isolated low then the potential for a substantial upside breakout is possibility.

    2. However the weekly time frame continues to point down. Therefore a sustained breach of the 34 period moving averages puts into play a move to the 0.8889 isolated low areas.

    Macro technical levels
    The macro technical levels are 0.9020 0.8930, 0.8570 and 0.9200.



    Daily Technical Analysis for USDJPY as at 26th November 2013



    Yesterday’s summary
    Yesterday USDJPY traded aggressively higher during Tokyo session. However this upside momentum stalled as the price action approached the 102.00 level during the London and New York session.

    Market open focus
    The overnight and this morning’s Tokyo session have seen USDJPY experience a corrective pullback. I am monitoring the possibility that this negative market action continues into the London session.

    The key intraday levels to watch are 99.54, 100.26, 100.95, 101.20, 101.60 and101.9.

    The possible projected maximum daily ranges based upon current price action are 101.10 to 102.10.

    Today’s scenarios
    1. USDJPY is trading beneath yesterday’s high area of congestion. I am monitoring the potential for further downside under the 101.60 to 101.90 area with a target of 101.10

    2. Alternatively a potential break above 101.90 has an intraday target of 102.10.

    Macro trade ideas
    1. With USDJPY having breached the prior swing high of the 17th October has changed the trend on a swing bias to up. The change of the daily trend now puts the swing bias in line with the weekly trend. The breach of both the downward sloping trend line and significant 100 levels now puts in play potential moves 103.73 swing level which is also a major multi year high. The previous 101.52 target having been breached this morning.

    2. Alternatively as USDJPY is now becoming extended from its averages there is a possibility that USDJPY corrects down to these averages.

  8. #168

    Default Daily Technical Analysis from ACFX 12/2/2013

    Daily Technical Analysis from ACFX 12/2/2013


    Daily Technical Analysis for EURUSD as at 2nd December 2013



    Yesterday’s summary
    Friday EURUSD traded within a tight 25 pip range during the Tokyo and London sessions prior to taking a 19 pip leg lower during New York trading. EURUSD finally closed at the upward sloping trend line.

    The technical reason for Friday’s small range can be seen by the price action being squeezed between forces of support and resistance.

    Market open focus
    This morning’s Tokyo session has seen EURUSD trade some 31 higher off Friday’s session low. With the price action now trading above the trend line, I am monitoring possible break outs of this morning range during London trading.

    The key intraday levels to watch are: 1.3489, 1.3517, 1.3598, and 1.3622.
    The possible projected maximum daily ranges based upon current price action are 1.3535 to 1.3655.

    Today’s scenarios
    1. EURUSD is trading within a 31 pip early morning range. I am monitoring potential shorts below 1.3598 with a target of 1.3535.

    2. Alternatively a potential break above 1.3622 has an upside intraday target of 1.3655.

    Macro trade Ideas
    1. The breach of the 16th October prior isolated low has changed the daily trend on a swing basis from up to down. The move back up to the averages and previously broken trend line has proved a good value area where shorts could be added. I am monitoring a continuation of the move down to the 7th November low at 1.3300 levels being a prior daily swing low.

    2. Alternatively the weekly time frame continues to be swing positive. Therefore there is a possibility that the down trend on the daily chart is nothing more than a corrective sell off that brings the price action into potential value areas where long term swing position buy trades could be executed. It should also be noted that EURUSD has traded into a large Fibonacci support area where price action stalled and bounced. With this in mind there is potential for a substantial upside move that could bring the daily trend back into line with the weekly trend. This scenario is valid as long as EURUSD can trade above the 1st September swing long which comes in around the 1.3100 area.

    The Macro Technical Targets
    The upside targets are 1.3470, 1.3530, 1.3650, and 1.3830. The downside targets are 1.3300, 1.3200, 1.3100 and 1.2750.


    Daily Technical Analysis for GBPUSD as at 2nd December2013



    Yesterday’s summary
    Friday GBPUSD closed 27 pips higher in what was a fairly volatile trading day of that printed a 70 pip range
    The technical reason behind Friday’s relatively volatile session could be put down to need for GBPUSD catch its breath prior to breaking higher. Furthermore with the price action trading up to the 1.6385 to 1.6400 area of prior resistance and if you add to this the Friday factor with traders not wishing to place bets and add exposure over the weekend gave GBPUSD an excuse of closing without making any decisive move through or bounce lower off the current overhead resistance area.

    Market open focus
    This morning’s Tokyo session has been relatively active with GBPUSD resuming its upward momentum and gaining some 90 pips from the Friday night low. I am monitoring a potential for further upside momentum into the London open.

    The key intraday levels to watch are: 1.6132, 1.6174, 1.6367 and 1.6442.
    The possible projected maximum daily ranges based upon current price action are 1.6345 to 1.6452.

    Today’s scenarios
    1. GBPUSD has traded a 70 pip range during the Tokyo session and added some 90 pips off Friday nights low. After such a strong open with GBPUSD effectively printing one daily range during Tokyo trading further upside maybe limited. Notwithstanding this I am monitoring potential for further upside above 1.6442.

    2. Alternatively as the price action is now extended from its averages there potential for an intraday correction. I am monitoring an initial move down to 1.6367.

    Macro trade ideas
    1. The breach of the 23rd October swing high has changed the trend on a daily swing basis from down to up. This move has also taken out the prior high of the 1st October and multi month trend line resistance. With the price action in the daily time frame also being confirmed on the weekly time frame there is potential for a multi month move higher with an attempt at the 1.7045 level.

    2. Alternatively the rising wedge formation if triggered could offer a powerful selling opportunity that takes GBPUSD back down to the 7th July low of 1.4810.

    Marco Technical Targets
    1.6260, 1.6170, 1.5890, 1.5715, 1.5570, 1.5720



    Daily Technical Analysis for USDCHF as at 2nd December 2013



    Yesterday’s summary
    Friday’s price saw USDCHF trade in a 43 pip range in. The session was volatile session as USDCHD attempted to move lower prior to reversing and closing the day at its highs. The bounce came off support that is being offered by the downward sloping broken trend line with the price action trading within a bullish falling wedge pattern. A breaks up or down from will either validate or fail this pattern formation.

    Market open focus
    USDCHF is trading within a 20 pip opening range. I am monitoring for signs of increased activity during the London session.

    The key intraday levels to watch are 0.9027, 0.9055, 0.9107 and 0.9131.
    The possible projected maximum daily ranges based upon current price action are 0.9000 to 0.9100.


    Today’s scenarios
    1. USDCHF is trading with a very tight opening range. I am monitoring for potential breaks 0.9055 with a target of 0.9100.

    2. Alternatively a failure to break above 0.9055 could see USDCHF potentially trade down to 0.9027 with further targets being 0.9000.

    Macro trade ideas
    1. On a basis swing bases the trend is now positive following the breach of the prior isolated high. However the price action has been struggling to extend a move away from the downside sloping trend line. Notwithstanding this as long USDCHF can trade above 0.8889 being the current isolated low then the potential for a substantial upside breakout is possibility.

    2. However the weekly time frame continues to point down. Therefore a sustained breach of the 34 period moving averages puts into play a move to the 0.8889 isolated low areas.
    Macro technical levels
    The macro technical levels are 0.9020 0.8930, 0.8570 and 0.9200.


    Daily Technical Analysis for USDJPY as at 2nd December 2013



    Yesterday’s summary
    Friday saw USDJPY closed near its open in what was a fairly volatile 50 pip daily range.

    The technical reasons behind Friday’s inactivity could be put down to USDJPY stellar rise which has seen the price action become extended from the averages. I will continue to monitor the 101.00 as a support area with the next logical target being the 22nd May swing pivot high of 103.70. However a controlled correction should not be ruled out.

    Market open focus
    This morning’s trading has been volatile with USDJPY trading within a 36 pip range. The price action is currently trading at the high of its morning range. I will be monitoring the price action for further upside during this morning’s trading.

    The key intraday levels to watch are 100.13, 101.35, 102.24 and 102.61.

    The possible projected maximum daily ranges based upon current price action are 101.90 to 102.85.

    Today’s scenarios
    1. USDJPY has traded in a 36 pip opening range. I am monitoring the price action for breaches of 102.61 with a target of 102.85.

    2. Alternatively there is potential break below 102.24 with a target of 101.90.

    Macro trade ideas
    1. With USDJPY having breached the prior swing high of the 17th October has changed the trend on a swing bias to up. The change of the daily trend now puts the swing bias in line with the weekly trend. The breach of both the downward sloping trend line and significant 100 levels now puts in play potential moves 103.73 swing level which is also a major multi year high. The previous 101.52 target having been breached this morning.

    2. Alternatively as USDJPY is now becoming extended from its averages there is a possibility that USDJPY corrects down to these averages.

  9. #169

    Default

    Daily Technical Analysis from ACFX 12/03/2013


    Daily Technical Analysis for EURUSD as at 3rd December 2013



    Yesterday’s summary
    Yesterday’s trading saw EURUSD trade 55 lower in what was a 90 pip range day.
    EURUSD continues to trade and close to the within a large expanding triangle and horizontal congestion range. Yesterdays down move coincided with EURUSD trading up into the previous 3 day’s session highs

    Market open focus
    This morning’s EURUSD has been trading within a 30 pip range. I am monitoring the price action as it trades with the 1.3557 to 1.3525 previous day’s range for an indication of possible market direction during today’s session.

    The key intraday levels to watch are 1.3525 1.3557, 1.3598 and 1.3622.
    The possible projected maximum daily ranges based upon current price action are 1.3485 to 1.3600.

    Today’s scenarios

    1. EURUSD is trading within a 30 pip early morning Tokyo range. I am monitoring potential shorts below 1.3525 with a target of 1.3485.

    2. Alternatively a potential break above 1.3557 has an upside intraday target of 1.3600.

    Macro trade Ideas
    1. The breach of the 16th October prior isolated low has changed the daily trend on a swing basis from up to down. The move back up to the averages and previously broken trend line has proved a good value area where shorts could be added. I am monitoring a continuation of the move down to the 7th November low at 1.3300 levels being a prior daily swing low.

    2. Alternatively the weekly time frame continues to be swing positive. Therefore there is a possibility that the down trend on the daily chart is nothing more than a corrective sell off that brings the price action into potential value areas where long term swing position buy trades could be executed. It should also be noted that EURUSD has traded into a large Fibonacci support area where price action stalled and bounced. With this in mind there is potential for a substantial upside move that could bring the daily trend back into line with the weekly trend. This scenario is valid as long as EURUSD can trade above the 1st September swing long which comes in around the 1.3100 area.

    The Macro Technical Targets
    The upside targets are 1.3470, 1.3530, 1.3650, and 1.3830. The downside targets are 1.3300, 1.3200, 1.3100 and 1.2750.


    Daily Technical Analysis for GBPUSD as at 2nd December2013



    Yesterday’s summary
    Yesterday’s GBPUSD traded a 100 pip range which saw it close some 20 pips below its previous day’s close. It would appear the 1.6385 area is offering some resistance and with the price action extend from the averages is the possible technical reason for yesterdays sell off.

    Market open focus
    This morning’s open has been relatively busy with trading up by some 45 pips off this sessions low. This move has taken GBPUSD back into the 1.6373 to 1.6442 previous day’s trading range.

    The key intraday levels to watch are 1.6132, 1.6174, 1.6373 and 1.6442.
    The possible projected maximum daily ranges based upon current price action are 1.6300 to 1.6435.

    Today’s scenarios
    1. GBPUSD has traded back into the 1.6373 to 1.6442 previous day’s range. I am monitoring a potential up move to 1.6442.

    2. Alternatively a cross back under 1.6373 could see GBPUSD trade back down to 1.6300.

    Macro trade ideas
    1. The breach of the 23rd October swing high has changed the trend on a daily swing basis from down to up. This move has also taken out the prior high of the 1st October and multi month trend line resistance. With the price action in the daily time frame also being confirmed on the weekly time frame there is potential for a multi month move higher with an attempt at the 1.7045 level.

    2. Alternatively the rising wedge formation if triggered could offer a powerful selling opportunity that takes GBPUSD back down to the 7th July low of 1.4810.

    Marco Technical Targets
    1.6260, 1.6170, 1.5890, 1.5715, 1.5570, 1.5720



    Daily Technical Analysis for USDCHF as at 3rd December 2013



    Yesterday’s summary
    Yesterday’s USDCHF traded a 67 pip range day as it closed 15 pips above the previous sessions high. Yesterday’s move came off a bounce off the downward sloping trend line as the price action has at the moving averages.

    Market open focus
    USDCHF has traded this morning within a 16 pip opening range. Today’s opening key price levels are 0.9110 to 0.9085. I am monitoring for breaks above or beneath this level.
    The key intraday levels to watch are 0.9027, 0.9055, 0.9085 and 0.9110.
    The possible projected maximum daily ranges based upon current price action are 0.9038 to 0.9135.


    Today’s scenarios
    1. USDCHF is trading with a very tight 16 pip opening range. I am monitoring for potential breaks 0.9110 with a target of 0.9135.

    2. Alternatively a break beneath 0.9085 could see USDCHF potentially trade down to 0.9038.

    Macro trade ideas
    1. On a basis swing bases the trend is now positive following the breach of the prior isolated high. However the price action has been struggling to extend a move away from the downside sloping trend line. Notwithstanding this as long USDCHF can trade above 0.8889 being the current isolated low then the potential for a substantial upside breakout is possibility.

    2. However the weekly time frame continues to point down. Therefore a sustained breach of the 34 period moving averages puts into play a move to the 0.8889 isolated low areas.

    Macro technical levels
    The macro technical levels are 0.9020 0.8930, 0.8570 and 0.9200.


    Daily Technical Analysis for USDJPY as at 3rd December 2013



    Yesterday’s summary
    USDJPY yesterday’s trade some 35 pips lower off its open before reversing and trading higher by some 90 pips from that day’s low prior to selling off at the close by a marginal 21 pips. The move up could be viewed as an attempt to take out the 103.70 level which could happen during the course of this week’s trading. However the as the price action becomes extended from its averages a pull back is also possible.

    Market open focus
    This morning’s has seen USDJPY trade a 56 pip range. I am monitoring the 103.05 to 103.38 range.
    The key intraday levels to watch are 100.13, 101.35, 103.05 and 103.38.
    The possible projected maximum daily ranges based upon current price action are 102.70 to 103.70.


    Today’s scenarios
    1. This morning USDJPY traded within a 31 pip range. I am monitoring the price action for breaches of 103.38 with a target of 103.70.

    2. Alternatively a breach of 103.05 could see USDJPY trade down to 102.70.

    Macro trade ideas
    1. With USDJPY having breached the prior swing high of the 17th October has changed the trend on a swing bias to up. The change of the daily trend now puts the swing bias in line with the weekly trend. The breach of both the downward sloping trend line and significant 100 levels now puts in play potential moves 103.73 swing level which is also a major multi year high. The previous 101.52 target having been breached this morning.

    2. Alternatively as USDJPY is now becoming extended from its averages there is a possibility that USDJPY corrects down to these averages.

  10. #170

    Default

    Daily Technical Analysis from ACFX 12/04/2013

    Daily Technical Analysis for EURUSD as at 4th December 2013



    Yesterday’s summary
    Yesterday’s trading saw EURUSD end 50 odd pips higher from the previous day’s close whilst trading a ninety pip range.
    The price action continues to have a negative daily swing bias whilst trading within a large expanding triangle and horizontal congestion range.

    Focus on today
    This morning’s EURUSD had been trading within a 15 pip range but has since broken down over the past two hours and is now trading 30 pips lower off its intraday high.

    EURUSD is trading with the yesterday’s high range which is 1.3569, 1.3614. I am monitoring the potential for this trading range to hold with theprice action bouncing within these levels. Alternatively breaks above or beneath this range could offer potential trading opportunities in the direction of the break out or break down.

    Macro trade Ideas
    1. The breach of the 16th October prior isolated low has changed the daily trend on a swing basis from up to down. The move back up to the averages and previously broken trend line has proved a good value area where shorts could be added. I am monitoring a continuation of the move down to the 7th November low at 1.3300 levels being a prior daily swing low.

    2. Alternatively the weekly time frame continues to be swing positive. Therefore there is a possibility that the down trend on the daily chart is nothing more than a corrective sell off that brings the price action into potential value areas where long term swing position buy trades could be executed. It should also be noted that EURUSD has traded into a large Fibonacci support area where price action stalled and bounced. With this in mind there is potential for a substantial upside move that could bring the daily trend back into line with the weekly trend. This scenario is valid as long as EURUSD can trade above the 1st September swing long which comes in around the 1.3100 area.

    The Macro Technical Targets
    The upside targets are 1.3470, 1.3530, 1.3650, and 1.3830. The downside targets are 1.3300, 1.3200, 1.3100 and 1.2750.


    Daily Technical Analysis for GBPUSD as at 4th December2013



    Yesterday’s summary
    Yesterday’s trading saw GBPUSD close 34 pips higher from the previous day’s close whilst trading a 90 pip range.
    The price action continues to have a positive daily swing bias whilst at major resistance of 1.6385.

    Focus on today
    This morning’s GBPUSD had been trading within a 20 pip range but has since broken down over the past hour and is now trading 25 pips lower off its intraday high.

    GBPUSD is trading with the yesterday’s high range which is 1.6368 to 1.6442. I am monitoring the potential for this trading range to hold with the price action bouncing within these levels. Alternatively breaks above or beneath this range could offer potential trading opportunities in the direction of the break out or break down.

    Macro trade ideas
    1. The breach of the 23rd October swing high has changed the trend on a daily swing basis from down to up. This move has also taken out the prior high of the 1st October and multi month trend line resistance. With the price action in the daily time frame also being confirmed on the weekly time frame there is potential for a multi month move higher with an attempt at the 1.7045 level.

    2. Alternatively the rising wedge formation if triggered could offer a powerful selling opportunity that takes GBPUSD back down to the 7th July low of 1.4810.

    Marco Technical Targets
    1.6260, 1.6170, 1.5890, 1.5715, 1.5570, 1.5720


    Daily Technical Analysis for USDCHF as at 4th December 2013



    Yesterday’s summary
    Yesterday’s trading saw USDCHF close 41 pips lower from the previous day’s close whilst trading a 78 pip range.

    The price action continues to have a positive daily swing bias whilst trading within a bullish flag formation.

    Focus on today
    This morning’s EURUSD had been trading within a 10 pip range but has since broken higher over the past 2 hours and is now trading 13 pips lower off its intraday low.

    USDCHF is trading with the yesterday’s low range which is 0.9020 to 0.9059. I am monitoring the potential for this trading range to hold with the price action bouncing within these levels. Alternatively breaks above or beneath this range could offer potential trading opportunities in the direction of the break out or break down.

    Macro trade ideas
    1. On a basis swing bases the trend is now positive following the breach of the prior isolated high. However the price action has been struggling to extend a move away from the downside sloping trend line. Notwithstanding this as long USDCHF can trade above 0.8889 being the current isolated low then the potential for a substantial upside breakout is possibility.

    2. However the weekly time frame continues to point down. Therefore a sustained breach of the 34 period moving averages puts into play a move to the 0.8889 isolated low areas.

    Macro technical levels
    The macro technical levels are 0.9020 0.8930, 0.8570 and 0.9200.


    Daily Technical Analysis for USDJPY as at 4th December 2013



    Yesterday’s summary
    Yesterday’s trading saw USDJPY close 43 pips lower from the previous day’s close whilst trading a 140 pip range.
    The price action continues to have a positive daily swing bias. The 103.70 level is still offering both a target and a strong resistance level to current market activity.

    Focus on today
    This morning’s USDJPY had been trading within a 42 pip range but has since broken up over the past two hours and is now trading 59 pips higher off its intraday low.

    USDJPY is trading between the 100.13, 101.35 and 103.05, 103.38 intraday low to high ranges. I am currently monitoring the potential into the 103.05 to 103.38 resistance area. Alternatively a failure to break into this upper range could see USDJPY trade back down to the 103.13 to 103.35 support range.

    Macro trade ideas
    1. With USDJPY having breached the prior swing high of the 17th October has changed the trend on a swing bias to up. The change of the daily trend now puts the swing bias in line with the weekly trend. The breach of both the downward sloping trend line and significant 100 levels now puts in play potential moves 103.73 swing level which is also a major multi year high. The previous 101.52 target having been breached this morning.

    2. Alternatively as USDJPY is now becoming extended from its averages there is a possibility that USDJPY corrects down to these averages.

Similar Threads

  1. Daily Technical Analysis by PipSafe
    By PipSafe in forum Technical analysis
    Replies: 165
    Last Post: 04-14-2015, 20:20
  2. MAYZUS Daily Technical Analysis
    By MAYZUS.Neeraj in forum Technical analysis
    Replies: 69
    Last Post: 05-19-2014, 08:47
  3. Daily Market Outlook from ACFX
    By Atlas CapitalFx in forum Technical analysis
    Replies: 39
    Last Post: 10-03-2013, 13:53
  4. Daily Technical Analysis
    By dailyfxanalysis in forum Technical analysis
    Replies: 0
    Last Post: 04-22-2013, 06:14
  5. Daily Technical Analysis for Majors
    By FxTT in forum Technical analysis
    Replies: 0
    Last Post: 03-11-2012, 21:50

Tags for this Thread

100, 100 pips, 100% bonus, 2011, abc, adx, analysis, average, bonus, breakout, broker, candle, candlestick, change, channel, closing, commission, comparison, contest, correlation, currency pairs, daily analysis, demo, demo contest, divergence, equation, eur, eur/usd, eurusd, fibonacci, forecast, forex, forex trading, free, fundamentals, fx trading, gbpusd, german, gold, high, historical, home, how to, indicator, intraday, investment, japan, level, live, live account, long term, low, main, managed, mirror, moving average, mt4, news, offer, oscillator, pivot, price action, profit, rating, real, resistance, review, rsi, sales, scalp, scalping, short term, signal, simple, sma, squeeze, strategy, study, support, system, technical analysis, test, time, trader, trading, trading forex, trailing, trend, usd

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •