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Thread: Daily Technical Analysis from ACFX

  1. #51

    Default

    Daily Technical Analysis for Oil (WTI) as at 8th May 2013
    DAILY OVERVIEW
    Trend : Long
    Ambush Zone : -
    Target 1 : -
    Target 2 : -
    Stop : -




    Comments
    Oil continues to trade within a tight range at the highs of the last move. We are monitoring a potential move into the area of the 1st April high.

    Alternatively as the price action is extended from the averages we are monitoring the possibility of a corrective pull back prior to a further up move.

    Definitions
    Trend : Current trend as defined by technical Swing Analysis
    HH : Higher High
    HL : Higher Low
    LL : Lower Low
    LH : Lower High
    CofT : Change of Trend



    Daily Technical Analysis for Gold as at 8th May 2013
    DAILY OVERVIEW
    Trend : Short
    Ambush Zone : 1452.60 – 1525.85
    Target 1 : 1321.75
    Target 2 : 1308.08
    Stop : 1590.20






    Comments
    Gold yesterday closed beneath the 8 period moving averages and as mentioned previously, bounced off Fibonacci resistance and a previously broken trend line. We are monitoring the price action at these levels for potential move to Target 1.

    Alternatively if Gold can break above trend line resistance a move to the 34 period moving averages is a possibility.

    Definitions
    Trend : Current trend as defined by technical Swing Analysis
    HH : Higher High
    HL : Higher Low
    LL : Lower Low
    LH : Lower High
    CofT : Change of Trend

  2. #52

    Default

    Daily Technical Analysis for EURUSD as at 8th May 2013
    DAILY OVERVIEW
    Trend : Long
    Ambush Zone : 1.2970 – 1.2845
    Target 1 : 1.3200
    Target 2 : 1.3710
    Stop : 1.2745




    Comments
    EURUSD continues to trade just beneath the 8 period moving averages. We are monitoring a potential move to the prior swing high.

    Alternatively if EURUSD cannot close above the 8 period moving averages then the next potential down side target is the 34 period moving averages.

    Definitions
    Trend : Current trend as defined by technical Swing Analysis
    HH : Higher High
    HL : Higher Low
    LL : Lower Low
    LH : Lower High
    CofT : Change of Trend

    Daily Technical Analysis for GBPUSD as at 8th May 2013
    DAILY OVERVIEW
    Trend : Long
    Ambush Zone : 1.5400 – 1.5280
    Target 1 : 1.5670
    Target 2 : 1.5845
    Stop : 1.5195



    Comments
    Yesterday GBPUSD broke and closed beneath the downward sloping trend line and 8 period moving averages. We are monitoring a possible move to Fibonacci support.

    Alternatively if GBPUSD can close above the 8 period moving average, there is potential for a move to the area of the last HH.

    Definitions
    Trend : Current trend as defined by technical Swing Analysis.
    HH : Higher High
    HL : Higher Low
    LL : Lower Low
    LH : Lower High
    CofT : Change of Trend


    Daily Technical Analysis for USDCHF as at 8th May 2013
    DAILY OVERVIEW
    Trend : -
    Ambush Zone : -
    Target 1 : -
    Target 2 : -
    Stop : -




    Comments
    USDCHF has traded up to and closed above the 34 period moving averages. We are currently monitoring the price action to see if USDCHF can complete its attempt of trading above the last swing high

    Alternatively, if USDCHF can once again breach trend line support there remains potential for a move to the area of the last swing low.

    Definitions
    Trend : Current trend as defined by technical Swing Analysis
    HH : Higher High
    HL : Higher Low
    LL : Lower Low
    LH : Lower High
    CofT : Change of Trend


    Daily Technical Analysis for USDJPY as at 8th May 2013
    DAILY OVERVIEW
    Trend : Long
    Ambush Zone : 96.00 – 94.30
    Target 1 : 98.85
    Target 2 : 100.45
    Stop : 92.55



    Comments
    As per our prior posting, following the positive RSI divergence USDJPY bounced off the34 period moving averages and is now trading above the 8 period moving averages. We are monitoring a potential third attempt on breaching the 100 level.

    Alternatively if USDJPY can trade beneath the 34 period moving averages there is potential for further selling resulting in a deeper move into Fibonacci support.

    Definitions
    Trend : Current trend as defined by technical Swing Analysis
    HH : Higher High
    HL : Higher Low
    LL : Lower Low
    LH : Lower High
    CofT : Change of Trend

  3. #53

    Default

    Daily Technical Analysis for EURUSD as at 9th May 2013
    DAILY OVERVIEW
    Trend : Long
    Ambush Zone : 1.2970 – 1.2845
    Target 1 : 1.3200
    Target 2 : 1.3710
    Stop : 1.2745




    Comments
    Yesterday EURUSD bounced from the 8 period moving averages. We continue to monitor a potential move to the prior swing high.

    Alternatively if EURUSD a fails to make a move higher we could possible see the price action trade down to the 34 period moving averages.

    Definitions
    Trend : Current trend as defined by technical Swing Analysis
    HH : Higher High
    HL : Higher Low
    LL : Lower Low
    LH : Lower High
    CofT : Change of Trend

    Daily Technical Analysis for GBPUSD as at 9th May 2013
    DAILY OVERVIEW
    Trend : Long
    Ambush Zone : 1.5400 – 1.5280
    Target 1 : 1.5670
    Target 2 : 1.5845
    Stop : 1.5195




    Comments
    Yesterday GBPUSD held its support at the downward sloping trend line. If GBPUSD can close above the 8 period moving average, there is potential for a move to the area of the last HH.

    Alternatively if GBPUSD cannot breach the last HH, a break of support could possible see GBPUSD move to Fibonacci and upward sloping trend line support.

    Definitions
    Trend : Current trend as defined by technical Swing Analysis.
    HH : Higher High
    HL : Higher Low
    LL : Lower Low
    LH : Lower High
    CofT : Change of Trend



    Daily Technical Analysis for Gold as at 9th May 2013
    DAILY OVERVIEW
    Trend : Short
    Ambush Zone : 1452.60 – 1525.85
    Target 1 : 1321.75
    Target 2 : 1308.08
    Stop : 1590.20




    Comments
    Gold continues to trade within Fibonacci resistance and at the 8 period moving averages. We are monitoring the price action at these levels for potential move to Target 1.

    Alternatively as Gold has broken above trend line resistance a move to the 34 period moving averages is a possibility.

    Definitions
    Trend : Current trend as defined by technical Swing Analysis
    HH : Higher High
    HL : Higher Low
    LL : Lower Low
    LH : Lower High
    CofT : Change of Trend


    Daily Technical Analysis for Oil (WTI) as at 9th May 2013
    DAILY OVERVIEW
    Trend : Long
    Ambush Zone : -
    Target 1 : -
    Target 2 : -
    Stop : -




    Comments
    As posted previously, Oil continues to trade within a tight range at the highs of the last move. We are monitoring a potential move into the area of the 1st April high.

    Alternatively as the price action is extended from the averages we are monitoring the possibility of a corrective pull back prior to a further up move.

    Definitions
    Trend : Current trend as defined by technical Swing Analysis
    HH : Higher High
    HL : Higher Low
    LL : Lower Low
    LH : Lower High
    CofT : Change of Trend



    Daily Technical Analysis for USDCHF as at 9th May 2013
    DAILY OVERVIEW
    Trend : -
    Ambush Zone : -
    Target 1 : -
    Target 2 : -
    Stop : -




    Comments
    USDCHF has initially failed to hold above the 34 period moving averages. We are currently monitoring the price action to see if USDCHF can trade to the last swing low and into Fibonacci support.

    Alternatively, if USDCHF can once again trade above trend line support there remains potential for a move to the area of the last Swing High.

    Definitions
    Trend : Current trend as defined by technical Swing Analysis
    HH : Higher High
    HL : Higher Low
    LL : Lower Low
    LH : Lower High
    CofT : Change of Trend


    Daily Technical Analysis for USDJPY as at 9th May 2013
    DAILY OVERVIEW
    Trend : Long
    Ambush Zone : 96.00 – 94.30
    Target 1 : 98.85
    Target 2 : 100.45
    Stop : 92.55





    Comments
    As per our prior posting, following the positive RSI divergence USDJPY bounced off the34 period moving averages and is now trading above the 8 period moving averages. We are monitoring a potential third attempt on breaching the 100 level.

    Alternatively if USDJPY can trade beneath the 34 period moving averages there is potential for further selling resulting in a deeper move into Fibonacci support.

    Definitions
    Trend : Current trend as defined by technical Swing Analysis
    HH : Higher High
    HL : Higher Low
    LL : Lower Low
    LH : Lower High
    CofT : Change of Trend

  4. #54

    Default

    Daily Technical Analysis for USDJPY as at 10th May 2013
    DAILY OVERVIEW
    Trend : Long
    Ambush Zone : 96.00 – 94.30
    Target 1 : 98.85
    Target 2 : 100.45
    Stop : 92.55




    Comments
    USDJPY has dramatically broken the 100 level and in the process traded through Target 1.

    There is potentially clear daylight for USDJPY to reach the 110 level. We are monitoring the price action to see if the upward momentum continues and which leads to USDJPY trading higher. However a large negative divergence is forming on the Weekly time frame and this needs to be considered when considering any position plays on the long side for USDJPY.

    Alternatively as the price action is extended, there is potential that USDJPY trades down to sideways as this currency pair corrects and allows the averages to catch up with the last move. Initially support for a possible correction being found at the 8 period moving averages.

    Definitions
    Trend : Current trend as defined by technical Swing Analysis
    HH : Higher High
    HL : Higher Low
    LL : Lower Low
    LH : Lower High
    CofT : Change of Trend

    Daily Technical Analysis for EURUSD as at 10th May 2013
    DAILY OVERVIEW
    Trend : Long
    Ambush Zone : 1.2970 – 1.2845
    Target 1 : 1.3200
    Target 2 : 1.3710
    Stop : 1.2745




    Comments
    Yesterday after initially trading higher EURUSD collapsed before finding support at the 34 period moving averages.

    We are monitoring the price action at these levels to see if support can hold prior to a resumption of the uptrend.

    Alternatively if EURUSD a fails hold support at the 34 period moving averages there is potential for a move to the prior Swing Low.

    Definitions
    Trend : Current trend as defined by technical Swing Analysis
    HH : Higher High
    HL : Higher Low
    LL : Lower Low
    LH : Lower High
    CofT : Change of Trend


    Daily Technical Analysis for GBPUSD as at 10th May 2013
    DAILY OVERVIEW
    Trend : Long
    Ambush Zone : 1.5400 – 1.5280
    Target 1 : 1.5670
    Target 2 : 1.5845
    Stop : 1.5195




    Comments
    Yesterday GBPUSD traded lower but continues to find support in the area of the downward sloping trend line and 8 period moving averages.

    If GBPUSD can close above the 8 period moving average, there is potential for a move to the area of the last HH.

    Alternatively if GBPUSD cannot breach the last HH, a break of support could possible see GBPUSD move to Fibonacci and upward sloping trend line support.

    Definitions
    Trend : Current trend as defined by technical Swing Analysis.
    HH : Higher High
    HL : Higher Low
    LL : Lower Low
    LH : Lower High
    CofT : Change of Trend


    Daily Technical Analysis for Gold as at 10th May 2013
    DAILY OVERVIEW
    Trend : Short
    Ambush Zone : 1452.60 – 1525.85
    Target 1 : 1321.75
    Target 2 : 1308.08
    Stop : 1590.20




    Comments
    As posted previously, Gold continues to trade within Fibonacci resistance and at the 8 period moving averages. We are monitoring the price action at these levels for potential move to Target 1.

    Alternatively as Gold has broken above trend line resistance a move to the 34 period moving averages is a possibility.

    Definitions
    Trend : Current trend as defined by technical Swing Analysis
    HH : Higher High
    HL : Higher Low
    LL : Lower Low
    LH : Lower High
    CofT : Change of Trend


    Daily Technical Analysis for Oil (WTI) as at 10th May 2013
    DAILY OVERVIEW
    Trend : Long
    Ambush Zone : -
    Target 1 : -
    Target 2 : -
    Stop : -






    Comments
    As posted previously, Oil continues to trade within a tight range at the highs of the last move. We are monitoring a potential move into the area of the 1st April high.

    Alternatively as the price action is extended from the averages we are monitoring the possibility of a corrective pull back prior to a further up move.

    Definitions
    Trend : Current trend as defined by technical Swing Analysis
    HH : Higher High
    HL : Higher Low
    LL : Lower Low
    LH : Lower High
    CofT : Change of Trend



    Daily Technical Analysis for USDCHF as at 10th May 2013
    DAILY OVERVIEW
    Trend : -
    Ambush Zone : -
    Target 1 : -
    Target 2 : -
    Stop : -





    Comments
    Yesterday USDCHF experienced a dramatic reversal and traded higher from the averages and the upward sloping trend line. This morning the move has continued with the price action breaching the prior Swing High.

    We are monitoring the price action to see if the upward momentum continues and takes USDCHF to the area of the March 2013 highs. This would probably lead to a golden cross of the moving averages.

    Alternatively as the price action is extended, there is potential that USDCHF trades down to sideways as this currency pair corrects and allows the averages to catch up with the last move.

    Definitions
    Trend : Current trend as defined by technical Swing Analysis
    HH : Higher High
    HL : Higher Low
    LL : Lower Low
    LH : Lower High
    CofT : Change of Trend

  5. #55

    Default Daily Technical Analysis from ACFX 13.05.2013

    Daily Technical Analysis for EURUSD as at 13th May 2013
    DAILY OVERVIEW
    Trend : Short
    Ambush Zone : -
    Target 1 : -
    Target 2 : -
    Stop : -



    Comments
    EURUSD failed to hold support at the 34 period moving averages and has breached the prior swing low therefore switching the trend from long to short.

    We are monitoring the price action at these levels to see if EURUSD can trade beneath Friday’s low and continue down to the upward sloping trend line. Continued downward momentum may also possibly see the 8 period moving averages cross beneath the 34 period moving averages which would confirm the new down trend.

    Alternatively if EURUSD can hold support at this area then there is potential for a base forming which could see the price action propelled up to the downward sloping trend line.

    Definitions
    Trend : Current trend as defined by technical Swing Analysis
    HH : Higher High
    HL : Higher Low
    LL : Lower Low
    LH : Lower High
    CofT : Change of Trend


    Daily Technical Analysis for GBPUSD as at 13th May 2013
    DAILY OVERVIEW
    Trend : Long
    Ambush Zone : 1.5400 – 1.5280
    Target 1 : 1.5670
    Target 2 : 1.5845
    Stop : 1.5195



    Comments
    GBPUSD has traded into Fibonacci support and upward sloping trend line.

    We are monitoring the price action to see if GBPUSD can find support at these levels prior to trading to the downward sloping trend line prior to possibly breaching the prior swing high.

    Alternatively if GBPUSD can breach the upward sloping trend line there is potential for a move to the prior swing low.

    Definitions
    Trend : Current trend as defined by technical Swing Analysis.
    HH : Higher High
    HL : Higher Low
    LL : Lower Low
    LH : Lower High
    CofT : Change of Trend


    Daily Technical Analysis for USDCHF as at 13th May 2013
    DAILY OVERVIEW
    Trend : -
    Ambush Zone : -
    Target 1 : -
    Target 2 : -
    Stop : -



    Comments
    We mention of Friday “We are monitoring the price action to see if the upward momentum continues and takes USDCHF to the area of the March 2013 highs. This would probably lead to a golden cross of the moving averages.” This scenario happened and effectively the trend has turned positive with the breach of the prior swing high.

    USDCHF could potentially trade down to sideways so as to allow the averages can catch up with the price action

    Alternatively the upward momentum could continue with a possible target being the 161.80 Fibonacci expansion level.

    Definitions
    Trend : Current trend as defined by technical Swing Analysis
    HH : Higher High
    HL : Higher Low
    LL : Lower Low
    LH : Lower High
    CofT : Change of Trend

  6. #56

    Default

    Daily Technical Analysis for GBPUSD as at 14th May 2013
    DAILY OVERVIEW
    Trend : Long
    Ambush Zone : 1.5400 – 1.5280
    Target 1 : 1.5670
    Target 2 : 1.5845
    Stop : 1.5195




    Comments
    GBPUSD closed beneath the upward sloping trend line but still within Fibonacci support.

    We are monitoring the price action to see if GBPUSD can find support at these levels prior to trading to the downward sloping trend line prior to possibly breaching the prior swing high.

    Alternatively as GBPUSD has breached the upward sloping trend line there is potential for a move to the prior swing low.

    Definitions
    Trend : Current trend as defined by technical Swing Analysis.
    HH : Higher High
    HL : Higher Low
    LL : Lower Low
    LH : Lower High
    CofT : Change of Trend


    Daily Technical Analysis for EURUSD as at 14th May 2013
    DAILY OVERVIEW
    Trend : Short
    Ambush Zone : -
    Target 1 : -
    Target 2 : -
    Stop : -




    Comments
    As posted previously, “EURUSD failed to hold support at the 34 period moving averages and has breached the prior swing low therefore switching the trend from long to short.”

    We are monitoring the price action at these levels to see if EURUSD can trade beneath Friday’s low and continue down to the upward sloping trend line. Continued downward momentum may also possibly see the 8 period moving averages cross beneath the 34 period moving averages which would confirm the new down trend.

    Alternatively if EURUSD can hold support at this area then there is potential for a base forming which could see the price action propelled up to the downward sloping trend line.

    Definitions
    Trend : Current trend as defined by technical Swing Analysis
    HH : Higher High
    HL : Higher Low
    LL : Lower Low
    LH : Lower High
    CofT : Change of Trend


    Daily Technical Analysis for USDCHF as at 13th May 2013
    DAILY OVERVIEW
    Trend : -
    Ambush Zone : -
    Target 1 : -
    Target 2 : -
    Stop : -


    http://i1359.photobucket.com/albums/...psa1bbd366.gif


    Comments
    As mentioned yesterday USDCHF has traded down from its highs in what can possibly view as a correction.

    We are monitoring the potential for a further correction to the area of the prior Swing High followed by further targets being the 8 period moving average and Fibonacci support.

    Alternatively this downward correction could end with a resumption of upward momentum with a possible target being the 161.80 Fibonacci expansion level.

    Definitions
    Trend : Current trend as defined by technical Swing Analysis
    HH : Higher High
    HL : Higher Low
    LL : Lower Low
    LH : Lower High
    CofT : Change of Trend


    Daily Technical Analysis for USDJPY as at 14th May 2013
    DAILY OVERVIEW
    Trend : Long
    Ambush Zone : 96.00 – 94.30
    Target 1 : 98.85
    Target 2 : 100.45
    Stop : 92.55



    Comments
    As mention previously “USDJPY has dramatically broken the 100 level and in the process traded through Target 1.”

    We have identified 110 as the next potential swing target and the 104 area as a possible Fibonacci expansion target.

    Alternatively as the price action is extended, there is potential that USDJPY trades down to sideways as this currency pair corrects and allows the averages to catch up with the last move. Initially support for a possible correction being found at the 8 period moving averages.

    Definitions
    Trend : Current trend as defined by technical Swing Analysis
    HH : Higher High
    HL : Higher Low
    LL : Lower Low
    LH : Lower High
    CofT : Change of Trend


    Daily Technical Analysis for Gold as at 14th May 2013
    DAILY OVERVIEW
    Trend : Short
    Ambush Zone : 1452.60 – 1525.85
    Target 1 : 1321.75
    Target 2 : 1308.08
    Stop : 1590.20




    Comments
    Gold has broken down from Fibonacci resistance and at the 8 period moving averages. We are monitoring the price action at these levels for potential move to Target 1.

    Definitions
    Trend : Current trend as defined by technical Swing Analysis
    HH : Higher High
    HL : Higher Low
    LL : Lower Low
    LH : Lower High
    CofT : Change of Trend


    Daily Technical Analysis for Oil (WTI) as at 14th May 2013
    DAILY OVERVIEW
    Trend : Long
    Ambush Zone : -
    Target 1 : -
    Target 2 : -
    Stop : -





    Comments
    As posted previously, Oil on Friday aggressively traded down before bouncing at Fibonacci support. Oil is effectively trading at the top of a large Monthly and Weekly triangle

    Oil needs to close above this triangle for the upward momentum to continue with the 138.2% Fibonacci Expansion level in the area of 103 being a potential target. However Oil will need to initially breach the significant 100 level.

    Alternatively if Oil cannot break the triangle top could lead to the possibility of moving back to Fibonacci support.

    Definitions
    Trend : Current trend as defined by technical Swing Analysis
    HH : Higher High
    HL : Higher Low
    LL : Lower Low
    LH : Lower High
    CofT : Change of Trend

  7. #57

    Default

    Daily Technical Analysis for EURUSD as at 15th May 2013
    DAILY OVERVIEW
    Trend : Short
    Ambush Zone : -
    Target 1 : -
    Target 2 : -
    Stop :




    Comments
    EURUSD continues to trade lower. We are monitoring a possible move down to the upward sloping trend line. A black cross down trend confirmation is in the process of forming with the 8 period moving averages attempting to cross beneath the 34 period moving averages.

    Definitions
    Trend : Current trend as defined by technical Swing Analysis
    HH : Higher High
    HL : Higher Low
    LL : Lower Low
    LH : Lower High
    CofT : Change of Trend


    Daily Technical Analysis for GBPUSD as at 15th May 2013
    DAILY OVERVIEW
    Trend : Long
    Ambush Zone : 1.5400 – 1.5280
    Target 1 : 1.5670
    Target 2 : 1.5845
    Stop : 1.5195




    Comments
    Although GBPUSD closed beneath the upward sloping trend line and slice through Fibonacci support the price action has failed thus far to breach the prior swing low. As long as this is the case the trend is still positive.

    We are monitoring the price action to see if GBPUSD can find support at these levels prior to trading to the downward sloping trend line prior to possibly breaching the prior swing high.

    Alternatively as GBPUSD has breached the upward sloping trend line there is potential for a breach of the prior swing low.

    Definitions
    Trend : Current trend as defined by technical Swing Analysis.
    HH : Higher High
    HL : Higher Low
    LL : Lower Low
    LH : Lower High
    CofT : Change of Trend


    Daily Technical Analysis for USDCHF as at 15th May 2013
    DAILY OVERVIEW
    Trend : -
    Ambush Zone : -
    Target 1 : -
    Target 2 : -
    Stop : -




    Comments
    USDCHF initially traded lower only to reverse and close above the prior high on its potential approach to the 161.80 Fibonacci expansion level.

    Alternatively as the price action is extended from the averages there is a possibility that USDCHF corrects down to the prior Swing High followed by further targets being the 8 period moving average and Fibonacci support.

    Definitions
    Trend : Current trend as defined by technical Swing Analysis
    HH : Higher High
    HL : Higher Low
    LL : Lower Low
    LH : Lower High
    CofT : Change of Trend

    Daily Technical Analysis for USDJPY as at 15th May 2013
    DAILY OVERVIEW
    Trend : Long
    Ambush Zone : 96.00 – 94.30
    Target 1 : 98.85
    Target 2 : 100.45
    Stop : 92.55




    Comments
    As mention previously “USDJPY has dramatically broken the 100 level and in the process traded through Target 1.”

    We have identified 110 as the next potential swing target and the 104 area as a possible Fibonacci expansion target.

    Alternatively as the price action is extended, there is potential that USDJPY trades down to sideways as this currency pair corrects and allows the averages to catch up with the last move. Initially support for a possible correction being found at the 8 period moving averages.

    Definitions
    Trend : Current trend as defined by technical Swing Analysis
    HH : Higher High
    HL : Higher Low
    LL : Lower Low
    LH : Lower High
    CofT : Change of Trend


    Daily Technical Analysis for Gold as at 15th May 2013
    DAILY OVERVIEW
    Trend : Short
    Ambush Zone : 1452.60 – 1525.85
    Target 1 : 1321.75
    Target 2 : 1308.08
    Stop : 1590.20




    Comments
    As posted previously Gold has broken down from Fibonacci resistance and at the 8 period moving averages. We are monitoring the price action at these levels for potential move to Target 1.

    Definitions
    Trend : Current trend as defined by technical Swing Analysis
    HH : Higher High
    HL : Higher Low
    LL : Lower Low
    LH : Lower High
    CofT : Change of Trend

    Daily Technical Analysis for Oil (WTI) as at 15th May 2013
    DAILY OVERVIEW
    Trend : Long
    Ambush Zone : 93.60 – 91.60
    Target 1 : 97.10
    Target 2 : 100.00
    Stop : 90.00




    Comments
    As posted previously, Oil on Friday aggressively traded down before bouncing at Fibonacci support. Oil is effectively trading at the top of a large Monthly and Weekly triangle

    Oil needs to close above this triangle for the upward momentum to continue with the 138.2% Fibonacci Expansion level in the area of 103 being a potential target. However Oil will need to initially breach the significant 100 level.

    Alternatively if Oil cannot break the triangle top could lead to the possibility of moving back to Fibonacci support.

    Definitions
    Trend : Current trend as defined by technical Swing Analysis
    HH : Higher High
    HL : Higher Low
    LL : Lower Low
    LH : Lower High
    CofT : Change of Trend

  8. #58

    Default Daily Technical Analysis 16.05.2013 By ACFX.com

    Daily Technical Analysis for EURUSD as at 16th May 2013
    DAILY OVERVIEW
    Trend : Short
    Ambush Zone : -
    Target 1 : -
    Target 2 : -
    Stop : -




    Comments
    EURUSD yesterday traded down to the upward sloping trend line and this has been followed by a black cross down trend confirmation where the 8 period moving averages have crossed beneath the 34 period moving averages.

    A break of the upward sloping trend line has the potential to follow through to the area of the 4th April Swing Low.

    Alternatively as the price action is extended from the averages there is a possibility that EURUSD bounces from trend line support with the initial target being the 8 period moving averages.

    Definitions
    Trend : Current trend as defined by technical Swing Analysis
    HH : Higher High
    HL : Higher Low
    LL : Lower Low
    LH : Lower High
    CofT : Change of Trend


    Daily Technical Analysis for GBPUSD as at 16th May 2013
    DAILY OVERVIEW
    Trend : Short
    Ambush Zone : -
    Target 1 : -
    Target 2 : -
    Stop : -



    Comments
    Following the break of trend line support the price action has now breached the prior swing low therefore changing the trend to negative.

    We are monitoring a potential move to the 1.5030 area which is a pivot low for the 4th April.

    Alternatively as GBPUSD is extended from its averages there is a possibility that trades up to the area of the 8 period moving averages. This area also coincides with broken trend line support which now becomes resistance and Fibonacci resistance.

    Definitions
    Trend : Current trend as defined by technical Swing Analysis.
    HH : Higher High
    HL : Higher Low
    LL : Lower Low
    LH : Lower High
    CofT : Change of Trend



    Daily Technical Analysis for USDCHF as at 16th May 2013
    DAILY OVERVIEW
    Trend : Long
    Ambush Zone : -
    Target 1 : -
    Target 2 : -
    Stop : -





    Comments
    USDCHF has hit and rejected the 161.80 target level.

    As the price action is extended from the averages there is a possibility that USDCHF corrects down to the prior Swing High followed by further targets being the 8 period moving average and Fibonacci support.

    Alternatively, a further break of the 161.8 level has the potential to follow through to the 200 Fibonacci extension level with further targets being 0.9970 which corresponds to a prior Swing High and then the significant USDCHF 1.0000 level.

    Definitions
    Trend : Current trend as defined by technical Swing Analysis
    HH : Higher High
    HL : Higher Low
    LL : Lower Low
    LH : Lower High
    CofT : Change of Trend




    Daily Technical Analysis for USDJPY as at 16th May 2013
    DAILY OVERVIEW
    Trend : Long
    Ambush Zone : -
    Target 1 : -
    Target 2 : -
    Stop : -





    Comments
    USDJPY continues to trade at its highs without making any significant progress over the past few sessions. The RSI is showing a weekly negative divergence.

    We have identified 110 as the next potential swing target and the 104 area as a possible Fibonacci expansion target.

    Alternatively as the price action is extended, there is potential that USDJPY trades down to sideways as this currency pair corrects and allows the averages to catch up with the last move. Initially support for a possible correction being found at the 8 period moving averages.

    Definitions
    Trend : Current trend as defined by technical Swing Analysis
    HH : Higher High
    HL : Higher Low
    LL : Lower Low
    LH : Lower High
    CofT : Change of Trend



    Daily Technical Analysis for Gold as at 16th May 2013
    DAILY OVERVIEW
    Trend : Short
    Ambush Zone : 1452.60 – 1525.85
    Target 1 : 1321.75
    Target 2 : 1308.08
    Stop : 1590.20





    Comments
    As posted previously Gold has broken down from Fibonacci resistance and at the 8 period moving averages. We are monitoring the price action at these levels for potential move to Target 1.

    Definitions
    Trend : Current trend as defined by technical Swing Analysis
    HH : Higher High
    HL : Higher Low
    LL : Lower Low
    LH : Lower High
    CofT : Change of Trend



    Daily Technical Analysis for Oil (WTI) as at 16th May 2013
    DAILY OVERVIEW
    Trend : Long
    Ambush Zone : 93.60 – 91.60
    Target 1 : 97.10
    Target 2 : 100.00
    Stop : 90.00





    Comments
    Oil has traded down into Fibonacci and trend line support where it experienced a significant bounce and where a bullish candle stick hammer formed. Oil however continues to trade near the highs of a large Monthly and Weekly triangle.

    Oil needs to close above this triangle for the upward momentum to continue with the 138.2% Fibonacci Expansion level in the area of 103 being a potential target. However Oil will need to initially breach the significant 100 level.

    Alternatively if Oil cannot move higher from these levels and break the triangle top could lead to the possibility that we see a further pull back with the initial target being the last swing low.

    Definitions
    Trend : Current trend as defined by technical Swing Analysis
    HH : Higher High
    HL : Higher Low
    LL : Lower Low
    LH : Lower High
    CofT : Change of Trend

  9. #59

    Default

    Daily Technical Analysis for EURUSD as at 17th May 2013
    DAILY OVERVIEW
    Trend : Short
    Ambush Zone : -
    Target 1 : -
    Target 2 : -
    Stop : -




    Comments
    As posted previously, EURUSD yesterday traded down to the upward sloping trend line and this has been followed by a black cross down trend confirmation where the 8 period moving averages have crossed beneath the 34 period moving averages.

    A break of the upward sloping trend line has the potential to follow through to the area of the 4th April Swing Low.

    Alternatively as the price action is extended from the averages there is a possibility that EURUSD bounces from trend line support with the initial target being the 8 period moving averages.

    Definitions
    Trend : Current trend as defined by technical Swing Analysis
    HH : Higher High
    HL : Higher Low
    LL : Lower Low
    LH : Lower High
    CofT : Change of Trend


    Daily Technical Analysis for GBPUSD as at 17th May 2013
    DAILY OVERVIEW
    Trend : Short
    Ambush Zone : -
    Target 1 : -
    Target 2 : -
    Stop : -



    Comments
    As posted previously, following the break of trend line support the price action has now breached the prior swing low therefore changing the trend to negative.

    We are monitoring a potential move to the 1.5030 area which is a pivot low for the 4th April.

    Alternatively as GBPUSD is extended from its averages there is a possibility that trades up to the area of the 8 period moving averages. This area also coincides with broken trend line support which now becomes resistance and Fibonacci resistance.

    Definitions
    Trend : Current trend as defined by technical Swing Analysis.
    HH : Higher High
    HL : Higher Low
    LL : Lower Low
    LH : Lower High
    CofT : Change of Trend


    Daily Technical Analysis for USDCHF as at 17th May 2013
    DAILY OVERVIEW
    Trend : Long
    Ambush Zone : -
    Target 1 : -
    Target 2 : -
    Stop : -




    Comments
    USDCHF has hit and rejected the 161.80 target level and traded down to the 8 period moving averages.

    We are monitoring the potential for a further break of the 161.8 level. A move above this level has the potential to follow through to the 200 Fibonacci extension level with further targets being 0.9970 which corresponds to a prior Swing High and then the significant USDCHF 1.0000 level.

    Alternatively a failure to break above the 161.8 level could possibly lead to a deeper pullback into Fibonacci support. This would coincide with the formation of a weekly negative RSI divergence.

    Definitions
    Trend : Current trend as defined by technical Swing Analysis
    HH : Higher High
    HL : Higher Low
    LL : Lower Low
    LH : Lower High
    CofT : Change of Trend



    Daily Technical Analysis for USDJPY as at 17th May 2013
    DAILY OVERVIEW
    Trend : Long
    Ambush Zone : -
    Target 1 : -
    Target 2 : -
    Stop : -






    Comments
    As posted previously, USDJPY continues to trade at its highs without making any significant progress over the past few sessions. The RSI is showing a weekly negative divergence.

    We have identified 110 as the next potential swing target and the 104 area as a possible Fibonacci expansion target.

    Alternatively as the price action is extended, there is potential that USDJPY trades down to sideways as this currency pair corrects and allows the averages to catch up with the last move. Initially support for a possible correction being found at the 8 period moving averages.

    Definitions
    Trend : Current trend as defined by technical Swing Analysis
    HH : Higher High
    HL : Higher Low
    LL : Lower Low
    LH : Lower High
    CofT : Change of Trend


    Daily Technical Analysis for Gold as at 17th May 2013
    DAILY OVERVIEW
    Trend : Short
    Ambush Zone : 1452.60 – 1525.85
    Target 1 : 1321.75
    Target 2 : 1308.08
    Stop : 1590.20




    Comments
    As posted previously Gold has broken down from Fibonacci resistance and at the 8 period moving averages. We are monitoring the price action at these levels for potential move to Target 1.

    Definitions
    Trend : Current trend as defined by technical Swing Analysis
    HH : Higher High
    HL : Higher Low
    LL : Lower Low
    LH : Lower High
    CofT : Change of Trend


    Daily Technical Analysis for Oil (WTI) as at 17th May 2013
    DAILY OVERVIEW
    Trend : Long
    Ambush Zone : 93.60 – 91.60
    Target 1 : 97.10
    Target 2 : 100.00
    Stop : 90.00




    Comments
    Oil experienced a good move up off Fibonacci and trend line support but continues to trade near the highs of a large Monthly and Weekly triangle.

    Oil needs to close above this triangle for the upward momentum to continue with the 138.2% Fibonacci Expansion level in the area of 103 being a potential target. However Oil will need to initially breach the significant 100 level.

    Alternatively if Oil cannot move higher from these levels and break the triangle top could lead to the possibility that we see a further pull back with the initial target being the last swing low.

    Definitions
    Trend : Current trend as defined by technical Swing Analysis
    HH : Higher High
    HL : Higher Low
    LL : Lower Low
    LH : Lower High
    CofT : Change of Trend

  10. #60

    Default

    Daily Technical Analysis for EURUSD as at 20th May 2013
    DAILY OVERVIEW
    Trend : Short
    Ambush Zone : -
    Target 1 : -
    Target 2 : -
    Stop : -




    Comments
    EURUSD is attempting to close beneath the upward sloping trend line. We are monitoring a potential move to the area of the 4th April Swing Low.

    Alternatively as the price action is extended from the averages there is a possibility that EURUSD bounces from trend line support with the initial target being the 8 period moving averages.

    Definitions
    Trend : Current trend as defined by technical Swing Analysis
    HH : Higher High
    HL : Higher Low
    LL : Lower Low
    LH : Lower High
    CofT : Change of Trend


    Daily Technical Analysis for GBPUSD as at 20th May 2013
    DAILY OVERVIEW
    Trend : Short
    Ambush Zone : -
    Target 1 : -
    Target 2 : -
    Stop : -





    Comments
    GBPUSD continues to trade lower, following the break of trend line support the price action has now breached the prior swing low therefore changing the trend to negative.

    We are monitoring a potential move to the 1.5030 area which is a pivot low for the 4th April.

    Alternatively as GBPUSD is extended from its averages there is a possibility that trades up to the area of the 8 period moving averages. This area also coincides with broken trend line support which now becomes resistance and Fibonacci resistance.

    Definitions
    Trend : Current trend as defined by technical Swing Analysis.
    HH : Higher High
    HL : Higher Low
    LL : Lower Low
    LH : Lower High
    CofT : Change of Trend


    Daily Technical Analysis for USDCHF as at 20th May 2013
    DAILY OVERVIEW
    Trend : Long
    Ambush Zone : -
    Target 1 : -
    Target 2 : -
    Stop : -






    Comments
    USDCHF has again traded up to the 161.80 extension level

    We are monitoring the potential for a further break of the 161.8 level. A move above this level has the potential to follow through to the 200 Fibonacci extension level with further targets being 0.9970 which corresponds to a prior Swing High and then the significant USDCHF 1.0000 level.

    Alternatively a failure to break above the 161.8 level could possibly lead to a deeper pullback into Fibonacci support. This would coincide with the formation of a weekly negative RSI divergence.

    Definitions
    Trend : Current trend as defined by technical Swing Analysis
    HH : Higher High
    HL : Higher Low
    LL : Lower Low
    LH : Lower High
    CofT : Change of Trend


    Daily Technical Analysis for USDJPY as at 20th May 2013
    DAILY OVERVIEW
    Trend : Long
    Ambush Zone : -
    Target 1 : -
    Target 2 : -
    Stop : -





    Comments
    As posted previously, USDJPY continues to trade at its highs without making any significant progress over the past few sessions. The RSI is showing a weekly negative divergence.

    We have identified 110 as the next potential swing target and the 104 area as a possible Fibonacci expansion target.

    Alternatively as the price action is extended, there is potential that USDJPY trades down to sideways as this currency pair corrects and allows the averages to catch up with the last move. Initially support for a possible correction being found at the 8 period moving averages.

    Definitions
    Trend : Current trend as defined by technical Swing Analysis
    HH : Higher High
    HL : Higher Low
    LL : Lower Low
    LH : Lower High
    CofT : Change of Trend


    Daily Technical Analysis for Gold as at 20th May 2013
    DAILY OVERVIEW
    Trend : Short
    Ambush Zone : 1452.60 – 1525.85
    Target 1 : 1321.75
    Target 2 : 1308.08
    Stop : 1590.20





    Comments
    As posted previously Gold has broken down from Fibonacci resistance and at the 8 period moving averages. We are monitoring the price action at these levels for potential move to Target 1.

    Definitions
    Trend : Current trend as defined by technical Swing Analysis
    HH : Higher High
    HL : Higher Low
    LL : Lower Low
    LH : Lower High
    CofT : Change of Trend


    Daily Technical Analysis for Oil (WTI) as at 20th May 2013
    DAILY OVERVIEW
    Trend : Long
    Ambush Zone : 93.60 – 91.60
    Target 1 : 97.10
    Target 2 : 100.00
    Stop : 90.00






    Comments
    As posted previously Oil experienced a good move up off Fibonacci and trend line support but continues to trade near the highs of a large Monthly and Weekly triangle.

    Oil needs to close above this triangle for the upward momentum to continue with the 138.2% Fibonacci Expansion level in the area of 103 being a potential target. However Oil will need to initially breach the significant 100 level.

    Alternatively if Oil cannot move higher from these levels and break and close above the triangle top could lead to the possibility that we see a further pull back with the initial target being the last swing low.

    Definitions
    Trend : Current trend as defined by technical Swing Analysis
    HH : Higher High
    HL : Higher Low
    LL : Lower Low
    LH : Lower High
    CofT : Change of Trend

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