Daily Technical Analysis by ACFX.com

[acfx]

Daily Technical Analysis for EURUSD as at 2nd April 2013



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


Comments
EURUSD has traded back to the 8 period moving which is a possible initial area to monitor market rotation for shorting opportunities. As the Fibonacci shorting area we have identified is some 375 pips from the current price a more appropriate target if the Euro trades higher could potentially be 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 USDCHF as at 2nd April 2013



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


Comments
USDCHF would appear to be attempting to put in a lower high. A breach of the 25th March low would confirm a potential change to a negative bias. However as the prevailing trend is up we continue to monitor a possible 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 2nd April 2013



DAILY OVERVIEW
Trend : Long
Ambush Zone : 91.70 – 87.90
Target 1 : 98.20
Target 2 : 100.40
Stop : 85.20



Comments
After a continued up move Oil did pull back and as expected found support at the 8 period moving averages. We are monitoring the price action at these levels to see if support can hold and possibly push Oil 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 Gold as at 2nd April 2013



DAILY OVERVIEW
Trend : Short
Ambush Zone : 1619.30 – 1656.55
Target 1 : 1554.60
Target 2 : 1526.85
Stop : 1684.80


Comments
Gold continues to trade around its Golden cross and within a tight range. A breakout from the current level may potentially push Gold into the direction of the downward sloping trend line.

Alternatively a failure for the price action to close above the 8 period moving averages would switch our attention to the short side and a breach of the potential HL would confirm this bias.

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 2nd April 2013



DAILY OVERVIEW
Trend : Long
Ambush Zone : 93.90 – 92.30
Target 1 : 96.70
Target 2 : 97.75
Stop : 90.85



Comments
USDJPY moved lower and for the first time since 11th October 2012 the 8 period moving averages has crossed beneath the 34 period moving averages. The move into Fibonacci support has also been very aggressive. The long scenario would be to purchase USDJPY within the Fibonacci support area but we would like to see a support base built before longs are taken. The alternative scenario would be for an extended down trend with shorting opportunities on pull backs to 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 2nd April 2013



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


Comments
Although the pound continues to trade beneath resistance the potential Golden Cross that we had been monitoring has been completed. The Golden cross combined with the inverse Head and Shoulders patterns potentially points GBPUSD trading up to the downward sloping trend line.

Alternatively a failure to trade above resistance will put the bias back onto the down side.

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

[acfx]

Daily Technical Analysis for EURUSD as at 3rd April 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -



Comments
The 8 period moving averages have provided initial resistance and EURUSD has moved down from this level by some 80 pips. We are monitoring a potential move towards the last isolated LL. A breach of the last LL would confirm the continued downward momentum and a possible move to 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 GBPUSD as at 3rd April 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -



Comments
Yesterday GBPUSD attempted to breach horizontal resistance but failed to break that level and reversed. This reversal has continued today with a negative open.

Although the past two days action has been bearish both the Golden Cross and the inverse Head and Shoulders pattern are still in play which may give those with a bullish bias some encouragement.

If the price action can hold above the last LL a third attempt at taking out resistance should not be ruled out. Alternatively a failure to breach resistance should give bears encouragement to push GBPUSD to the area of the last LL.

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 3rd April 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -



Comments
USDCHF continues to find support at the 8 period moving averages. A breach of the 25th March low would confirm a potential change to a negative bias. However as the prevailing trend is up we continue to monitor a possible 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 USDJPY as at 3rd April 2013

DAILY OVERVIEW
Trend : Long
Ambush Zone : 93.90 – 92.30
Target 1 : 96.70
Target 2 : 97.75
Stop : 90.85



Comments
The 8 period moving averages continue to trade beneath the 34 period moving averages which is technically short. However USDJPY has found support in the Fibonacci area and offers the possibility of taking longs at these levels. The alternative scenario would be for an extended down trend with shorting opportunities on pull backs to 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 Oil (WTI) as at 3rd April 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : 91.70 – 87.90
Target 1 : 98.20
Target 2 : 100.40
Stop : 85.20



Comments
Yesterday Oil moved to the 8 period averages where support was found. We are monitoring the price action at these levels to see if support can hold and possibly push Oil to Target 1. The alternative scenario would be for a breach of the 8 period moving average and a move into the direction of the 34 period moving average.

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 3rd April 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : 1619.30 – 1656.55
Target 1 : 1554.60
Target 2 : 1526.85
Stop : 1684.80



Comments
Gold yesterday broke down and this negative momentum has continued this morning. If Gold can breach the last isolated HL it would not be a surprise if the bears push Gold into the direction of the last isolated LL. A breach of these levels would of course confirm the continued down trend.

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

[acfx]

Daily Technical Analysis for EURUSD as at 4th April 2013

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



Comments
EURUSD continues to trade at the 8 period moving averages which is offering some resistant to further upside momentum.

If we can get an open and close above this average them there is potential for a continued move to the 34 period moving averages.

Alternatively a failure to clear the 8 period moving averages would indicate a possible move to towards the last isolated LL. A breach of the last LL would confirm the continued downward momentum and a possible move to 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 GBPUSD as at 4th April 2013

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



Comments
After Monday’s strong down day, GBPUSD has consolidated at the lows.

Although the Golden Cross and the inverse Head and Shoulders pattern are still in play we would like to see the price action to trade above the 8 period moving averages as confirmation of a long bias prior to trading up to and breaching resistance.

The bearish alternatively would be for GBPUSD to fail to trade above the 8 period moving averages and breach resistance. This would indicate the possibility of GBPUSD of moving into the direction of the last LL.

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 4th April 2013

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



Comments
USDCHF has today opened beneath the 8 period moving averages and moving into the direction of the 34 period moving averages which is an area where we will monitor the price action for potential support.

If USDCHF can trade beneath the 34 period moving averages and breach the 25th March low would confirm a potential change to a negative bias. However as the prevailing trend is up we continue to monitor a possible 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 USDJPY as at 4th April 2013

DAILY OVERVIEW
Trend : Long
Ambush Zone : 93.90 – 92.30
Target 1 : 96.70
Target 2 : 97.75
Stop : 90.85



Comments
This morning’s news of Bank of Japan bond purchases has pushed USDJPY higher. This news coincided with the price action trading within Fibonacci support area. We are now monitoring a 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 4th April 2013

DAILY OVERVIEW
Trend : Long
Ambush Zone : 91.70 – 87.90
Target 1 : 98.20
Target 2 : 100.40
Stop : 85.20



Comments
Yesterday Oil slashed through the 8 period moving averages and is now approaching the 34 period moving averages where we will monitor the price action for potential support. A break of the 34 period moving averages could possibly indicate a move 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

Daily Technical Analysis for Gold as at 4th April 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : 1619.30 – 1656.55
Target 1 : 1554.60
Target 2 : 1526.85
Stop : 1684.80



Comments
Gold yesterday continued with the downward momentum and took out both the prior HL and LL and in the process hitting Target 1. The price action is currently extended from the 8 period moving averages. As such any pull backs to this average can be possibly viewed as shorting opportunities.

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

[acfx]

Daily Technical Analysis for EURUSD as at 8th April 2013

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



Comments
Thursdays stellar up day was followed on Friday with a further strong positive close. However on this occasion some selling did come in during the latter part of the London session which was continued in New York. This selling came in at around the 34 period moving average levels. Friday’s up move did not manage to take out the highs of the 25th March which needs to happen if we are going to have confirmation of a continued up move.

This morning EURUSD has opened flat to negative but as we are extended from the 8 period moving average it would not be a surprise if the price action traded back to this average.

Alternatively, and as happened on Friday this morning’s negativity could offer the opportunity to either purchase this morning’s weakness or place orders above the high so as to participate in any long break out.


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 April 2013

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



Comments
On Friday we saw a close above resistance and a HL HH combination that followed the proceeding Golden Cross with price action trading and closing above the averages.

As we are in firmly bullish mode, buying weakness as the price action approaches support or placing orders above the last isolated HH is a possibility if one wanted to participate in any further potential up move with a target being the downward sloping trend line.

Alternatively, if EURUSD fails to hold above the last isolated HL then there is a possibility of a move to the last LL.

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 April 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 continued its near vertical up move since the Bank of Japan news. However the price action is somewhat extended from the averages and we have a pronounced RSI negative divergence setting up. Therefore it would not be unlikely if the price action trends down to sideways thus allowing the averages to catch up with the last move.
Alternatively, one could possibly participate in a further potential up move by buying weakness or placing long orders above the last isolated 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 April 2013

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



Comments
Over the past couple of weeks, USDCHF has put in a bearish LH LL combination which has seen the price action trade down to just above Fibonacci support. With the weekly trend being positive, we are monitoring the price action for potential buying opportunities.

However due to the current negative of the daily trend during this corrective pull back. Retracements to the 8 period moving averages could also offer possible opportunities to enter short on approaches to this average.

Alternatively a continuation of the daily LH LL sequence could possibly push USDCHF down further and in the process change the weekly trend to negative.

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 8th April 2013

DAILY OVERVIEW
Trend : Long
Ambush Zone : 91.70 – 87.90
Target 1 : 98.20
Target 2 : 100.40
Stop : 85.20



Comments
Oil moved marginally lower on Friday but found support at the upward sloping trend line and just above the Fibonacci supports area.

We are currently monitoring the price action for a bullish rotation within Fibonacci support area.

Alternatively this morning negative open could possibly continue with a move to the upward 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 Gold as at 8th April 2013

DAILY OVERVIEW
Trend : Short
Ambush Zone : 1619.30 – 1656.55
Target 1 : 1554.60
Target 2 : 1526.85
Stop : 1684.80



Comments
The Hammer Candlestick that was identified on Friday morning did precede a continued buying on that day that pushed Gold back to the averages and Fibonacci resistance.

We are currently monitoring the price action at these levels as a potential shorting opportunity.

Alternatively, if Gold can trade and close above the two averages a move up to the last isolated LH cannot be discounted.

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

[acfx]

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



Comments
Last week’s positive theme has continued into this week with the price action trading above the averages and the 25th March high.

With the market trending positively both within daily and weekly time frames one would look for buying opportunities on approaches to the 34 and 8 period moving averages and then at daily Fibonacci support with traders who have a more aggressive risk profile either purchasing intraday weakness or placing orders above the current daily high. Any further positivity would most probably create a golden cross of the averages.

As the conservative long scenario is to purchase weakness at the 34 and 8 period moving averages and then at daily Fibonacci support this would also imply a possibility that EURUSD could also experience a substantial pull back. As the moving averages have not as yet positively crossed on the daily chart and furthermore as we have not had a Higher Low, the uptrend on the daily chart has not been confirmed. Therefore a reversion to a broader negative trend is also a possibility if a positive trend confirmation does not happen in the next few sessions.

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 April 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -



Comments
Yesterday’s pullback into support was not unexpected after two strong up days. The price action has approached the 8 period moving averages which offer the possibility of buying weakness with a target being the downward sloping trend line.

Alternatively, if EURUSD fails to hold above the last isolated HL then there is a possibility of a move to the last LL.

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 April 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 been totally news driven but with 100 number looming over head there is a possibility that the Yen’s weakness is halted at this level but there is still a relatively small distance to go before this currency pair reaches this number.
As mentioned yesterday however the price action is somewhat extended from the averages and we have a pronounced RSI negative divergence setting up. Therefore it would not be unlikely if the price action trends down to sideways thus allowing 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


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




Comments
With the price action basing above both daily and weekly Fibonacci support we are monitoring the price action for potential buying opportunities. However there is a possibility that USDCHF drops a further 170 pips into this Fibonacci zone therefore one could possibly ignore any further longs until the price action has retraced sufficiently into this area.

Traders with a more aggressive risk profile could possibly enter off signs of intraday positive rotation with an initial target being the 8 period moving averages. However as there is an established bearish LH LL combination the short side on approaches to the 8 period moving average could also offers some down side opportunity.

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 8th April 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : 91.70 – 87.90
Target 1 : 98.20
Target 2 : 100.40
Stop : 85.20



Comments
This morning Oil is trading higher off the support area that we identified. The possible initial target is the 8 period moving averages.

Alternatively a failure to close higher by the end of today’s session could give the bears encouragement to push Oil back to trend support for a further retest.

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

Daily Technical Analysis for Gold as at 9th April 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : 1577 – 1599.25
Target 1 : 1539.30
Target 2 : 1526.85
Stop : 1616.60



Comments
Gold continues to trade around Fibonacci resistance and the moving averages.We are currently monitoring the price action at these levels as a potential shorting opportunity.

Alternatively, if Gold can trade and close above the two averages a move up to the last isolated LH cannot be discounted.

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

CofT : Change of Trend

[acfx]

Daily Technical Analysis for EURUSD as at 11th April 2013

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



Comments
EURUSD yesterday initially traded higher only to close negatively for the first time in 5 days. The moving

averages are kissing each other in what is a potential Golden Cross.

As the price action is fairly extended from the averages we are monitoring buying opportunities on approaches

to the 34 and 8 period moving averages and then at daily Fibonacci support with traders who have a more

aggressive risk profile either purchasing intraday weakness or placing orders above the current daily high.

The target for any long side move initially being overhead Fibonacci resistance and then the upward sloping

trend line.

A corrective pullback is a possibility and we are therefore monitoring the power of the next correction to see

how this impacts the potential changes of trend. If a new HL can be formed then this will of course give

further confirmation to the long side.

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 11th April 2013

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



Comments
GBPUSD continues to trade close to support and the 8 period moving averages. We are monitoring a potential

move to the downward sloping trend line.

Alternatively, if GBPUSD fails to hold above the last isolated HL then there is a possibility of a move to the

last LL.

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 11th April 2013

DAILY OVERVIEW
Trend : Long
Ambush Zone : 96.00 – 94.30
Target 1 : 98.85
Target 2 : 100.45
Stop : 92.55




Comments
USDJPY continues to edge closer to the 100 level but at a somewhat slow pace.
However the price action is somewhat extended from the averages and we have a pronounced RSI negative

divergence setting up.
The question is does USDJPY go down first before it tests the 100 level or does it make an attempt to push

through this level now. Very exciting times if you trade this currency pair.
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 11th April 2013

DAILY OVERVIEW
Trend : Long
Ambush Zone : 91.70 – 87.90
Target 1 : 98.20
Target 2 : 100.40
Stop : 85.20



Comments
Oil this morning is attempting to trade above the 8 period moving averages in what is a potential resumption

of the long trend.

Alternatively if the move fails to trade higher with any conviction a breach of the 34 period moving averages

could give the bears encouragement to push Oil back to retest 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 11th April 2013

DAILY OVERVIEW
Trend : Short
Ambush Zone : 1577 – 1599.25
Target 1 : 1539.30
Target 2 : 1526.85
Stop : 1616.60



Comments
Gold has broken down from Fibonacci resistance and the moving averages. We are currently monitoring a 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 USDCHF as at 11th April 2013

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



Comments
The price action continues to trade above both daily and weekly Fibonacci support we are monitoring the price

action for potential buying opportunities. However there is a potential that USDCHF drops a further 170 pips

into this Fibonacci zone therefore one could possibly ignore any further longs until the price action has

retraced sufficiently into this area.

Traders with a more aggressive risk profile could possibly enter off signs of intraday positive rotation with

an initial target being the 8 period moving averages. However as there is an established bearish LH LL

combination the short side on approaches to the 8 period moving average could also offers some down side

opportunity.

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

[acfx]

Daily Technical Analysis for EURUSD as at 12th April 2013

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



Comments
EURUSD continues to trade higher and the Golden Cross has been completed therefore reinforcing the bullish bias.

As the price action is fairly extended from the averages we are monitoring buying opportunities on approaches to the 34 and 8 period moving averages and then at daily Fibonacci support with traders who have a more aggressive risk profile either purchasing intraday weakness or placing orders above the current daily high. The target for any long side move initially being overhead Fibonacci resistance and then the upward sloping trend line.

A corrective pullback is a possibility and we are therefore monitoring the power of the next correction to see how this impacts the potential changes of trend. If a new HL can be formed then this will of course give further confirmation to the long side.

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 12th April 2013

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




Comments
Further to yesterdays commentary GBPUSD continues to trade above support and the 8 period moving averages. We are monitoring a potential move to the downward sloping trend line.

Alternatively, if GBPUSD fails to hold above the last isolated HL then there is a possibility of a move to the last LL.

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 12th April 2013

DAILY OVERVIEW
Trend : Short
Ambush Zone : 1577 – 1599.25
Target 1 : 1539.30
Target 2 : 1526.85
Stop : 1616.60



Comments
As posted yesterday, Gold has broken down from Fibonacci resistance and the moving averages. We are currently monitoring a 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 12th April 2013

DAILY OVERVIEW
Trend : Long
Ambush Zone : 91.70 – 87.90
Target 1 : 98.20
Target 2 : 100.40
Stop : 85.20



Comments
Oil did attempt to trade above the 8 period moving averages only to fall back and is now trading beneath the 34 period moving averages.

We are monitoring a possible move to the 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 USDCHF as at 12th April 2013

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



Comments
The price action continues to trade above both daily, weekly Fibonacci and trend line support we are monitoring the price action for potential buying opportunities. However there is a potential that USDCHF drops a further 170 pips into this Fibonacci zone therefore one could possibly ignore any further longs until the price action has retraced sufficiently into this area.

Traders with a more aggressive risk profile could possibly enter off signs of intraday positive rotation with an initial target being the 8 period moving averages. However as there is an established bearish LH LL combination the short side on approaches to the 8 period moving average could also offers some down side opportunity.

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 12th April 2013

DAILY OVERVIEW
Trend : Long
Ambush Zone : 96.00 – 94.30
Target 1 : 98.85
Target 2 : 100.45
Stop : 92.55



Comments
As commented yesterday, USDJPY continues to edge closer to the 100 level but at a somewhat slow pace.
However the price action is somewhat extended from the averages and we have a pronounced RSI negative divergence setting up.
The question is does USDJPY go down first before it tests the 100 level or does it make an attempt to push through this level now. Very exciting times if you trade this currency pair.
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

[acfx]

Daily Technical Analysis for Oil (WTI) as at 7th May 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -



Comments
Oil failed in its attempt to reach Target 1 from its bounce off Fibonacci resistance and has now put in a HL and HH combination. This has coincided with the 8 moving above the 34 period moving averages.

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 EURUSD as at 7nd May 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : 1.2970 – 1.2845
Target 1 : 1.3200
Target 2 : 1.3710
Stop : 1.2745




Comments
After hitting Target 1, EURUSD has retraced back to the averages.

We are monitoring the price action at these levels to see if the price action rotates positively prior to making an attempt to take out the prior swing high.

Alternatively if EURUSD can close beneath 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 7th May 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -




Comments
As posted previously, GBPUSD broke and closed above the downward sloping trend line. As the price action continues to be extended from the averages a corrective pullback remains a possibility.

However as the price action has broken resistance there is potential for a move the prior broken upward 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 7th May 2013
DAILY OVERVIEW
Trend : -
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -





Comments
USDCHF has experience a positive rotation within Fibonacci support. 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 7th May 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : 96.00 – 94.30
Target 1 : 98.85
Target 2 : 100.45
Stop : 92.55




Comments
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


Daily Technical Analysis for Gold as at 7th 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 mentioned previously, Gold moved into Fibonacci resistance and is now trading at a previously broken trend line. We are monitoring the price action at these levels for potential negative rotation.

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

[acfx]

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


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

[acfx]

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

[acfx]

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

[acfx]

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

Edited May 10, 2013 by acfx

[acfx]

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

[acfx]

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/q783/acfxuser1/DTA%2014052013/chf_zpsa1bbd366.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

[acfx]

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

[acfx]

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

[acfx]

Daily Technical Analysis for EURUSD as at 22nd May 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -




Comments
As posted previously EURUSD is bouncing at trend line support. We are monitoring the price action to see if there is a potential move up to Fibonacci resistance.

Alternatively as EURUSD is now trading at the 8 period moving averages there is a possibility of a rejection of this level followed by a move to the 4th April 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 22nd May 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -






Comments
As posted previously GBPUSD is basing just under the 1.5270 support area. We are monitoring a potential move to Fibonacci resistance.

Alternatively as the price action has traded back to the 8 period moving averages there is possibility that there is a rejection of this level followed by a move to the 1.5030 area which is a pivot low for the 4th April.

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 22nd May 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -





Comments
As posted previously USDCHF has once again traded up to and rejected the 161.80 extension level. Furthermore a pronounced negative RSI divergence is forming.

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.

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 22nd 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 22nd 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 traded back to the 8 period moving averages.

We continue to monitor 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 22nd May 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -





Comments
After closing above the weekly and monthly triangle resistance Oil has experienced a minor pullback. We are monitoring the possibility 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 first need to initially breach the significant 100 level.

Alternatively if Oil cannot move higher from these levels could lead to the possibility that we see a further pull back to 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

[acfx]

Daily Technical Analysis for EURUSD as at 23rd May 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -



Comments
EURUSD yesterday spiked higher only to fallback and close at it lows. The price action continues to bounce around the upward sloping trend line.

We are monitoring a potential move up to Fibonacci resistance.

Alternatively as EURUSD is now trading at the 8 period moving averages there is a possibility of a rejection of this level followed by a move to the 4th April 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 23rd May 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -




Comments
GBPUSD yesterday traded lower and has closed beneath the low for the 4th April.

We are monitoring a potential move to the pivot low of 12th March with initial support possibly coming in at trend line support in and around the 1.4900 area.

Alternatively as the price action is extended from the averages there is potential for a pullback initially to 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 USDCHF as at 23rd May 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -




Comments
USDCHF has slashed through the 161.80 Fibonacci extension level and has touched the 200 level.

We are monitoring a potential move to further targets being 0.9970 which corresponds to a prior Swing High and then the significant USDCHF 1.0000 level.

Alternatively as the price action is extended from the averages there is a possibility for the price action to retrace so as to allow for a correction.

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 23rd 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 23rd 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 traded back to the 8 period moving averages.

We continue to monitor 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 23rd May 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -




Comments
Oil has pull backed following its move above the weekly and monthly triangle resistance. This pullback has corrected down to daily Fibonacci support.

We are monitoring the price action at these levels for a possible resumption of the uptrend with possible targets being the 138.2% Fibonacci Expansion level in the area of 103 being a potential target. However Oil will first need to initially breach the significant 100 level.

Alternatively if Oil cannot find support at these levels there is a possibility for a move initially to broken upward 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

[acfx]

Daily Technical Analysis for EURUSD as at 24th May 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : 1.3015 – 1.3145
Target 1 : 1.2795
Target 2 : 1.2745
Stop : 1.3245




Comments
The swing bias remains negative with the averages confirming this direction. The price action continues to range around the upward sloping trend line and between both the short and long moving averages.

Scenario 1
We are monitoring a potential break down in the direction of the 4th April Swing Low.

Scenario 2
Alternatively EURUSD could possibly retrace up the long average and Fibonacci resistance 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 GBPUSD as at 24th May 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -





Comments
GBPUSD on a swing basis continues to have a negative bias and is trading under both the short and long moving averages.

Scenario 1
We are monitoring a potential move to the pivot low of 12th March. However an uptrend line may initially offer support at around the 1.4900 area.

Scenario 2
Alternatively as the price action is extended from the averages there is potential for a pullback initially to 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 USDCHF as at 24th May 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -





Comments
USDCHF on a swing basis continues to trend positively with the moving averages confirming the trend. Currently the price action is ranging between the 161.80 and 200 percent expansion levels.

Scenario 1
We are monitoring a potential move to further targets being 0.9970 which corresponds to a prior Swing High and then the significant USDCHF 1.0000 level.

Scenario 2
Alternatively as the price action is extended from the averages there is a possibility for the price action to retrace so as to allow for an orderly correction.


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 24th May 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : 100.50 – 98.40
Target 1 : 104.00
Target 2 : 110.00
Stop : 97.00






Comments
USDJPY on a swing basis continues to trend positively with the moving averages confirming the market direction. However yesterday price action rejected the 161.80 Fibonacci expansion level and USDJPY has subsequently corrected down to a level slightly above the 34 period moving averages and Fibonacci support. This move was in line with the negative weekly RSI divergence that was identified in prior postings.

We have identified the following levels as possible long targets.
1. A retouch of 104.00 being the 161.80 Fibonacci Expansion target.
2. The 105.00 level being the 200 percent Fibonacci Expansion target.
3. Around 108.00 being long term trend line resistance.
4. 110.00 being a prior Swing High Pivot.
Scenario 1
A move down to Fibonacci support could offer a potential opportunity to buy USDJPY with targets mentioned coming into focus.

Scenario 2
Alternatively if the price action can breach and close beneath the long average there is a possibility for a further move to 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 24th 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 on a swing basis is trading negatively with the moving averages confirming the trend. However the price action has retraced to the small average thus creating the possibility of a Higher Low and double bottom scenario.
That said as the trend is negative the focus will continue on the short side.

Scenario 1
We are monitoring the price action at the area of the 8 period moving averages so as to identify possible selling opportunities.

Scenario 2
Alternatively if Gold can close above the 8 period moving averages the potential for a move to Fibonacci resistance comes into play.

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 24th May 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : 94.45 – 93.00
Target 1 : 97.30
Target 2 : 99.00
Stop : 92.00





Comments
Oil on a swing basis continues to trade positively with the moving averages confirming the direction. However Oil has pullback into Fibonacci support where it touched and rejected a prior broken up trend line. The bigger picture continues to be one where the price action is trading near the top of a large monthly converging triangle.

Scenario 1
We are monitoring the price action at these levels for a possible resumption of the uptrend with possible targets being the 100 % and 138.2% Fibonacci Expansion level in the areas of 99.00 and 103.00 respectively. However the psychological 100.00 level will need to be broken for any further upside to continue.

Scenario 2
Alternatively if Oil cannot find support at these levels there is a possibility of a retest of the prior broken upward 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

[acfx]

Daily Technical Analysis for EURUSD as at 27th May 2013
DAILY OVERVIEW



Trend : Short
Ambush Zone : 1.3015 – 1.3145
Target 1 : 1.2795
Target 2 : 1.2745
Stop : 1.3245





Comments
The swing bias remains negative with the averages confirming this direction. The price action continues to range around the upward sloping trend line and between both the short and long moving averages.

Scenario 1
We are monitoring a potential break down in the direction of the 4th April Swing Low.

Scenario 2
Alternatively EURUSD could possibly retrace up the long average and Fibonacci resistance 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 GBPUSD as at 27th May 2013
DAILY OVERVIEW


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



Comments
GBPUSD on a swing basis continues to have a negative bias and is trading under both the short and long moving averages.

Scenario 1
We are monitoring a potential move to the pivot low of 12th March. However an uptrend line may initially offer support at around the 1.4900 area.

Scenario 2
Alternatively as the price action is extended from the averages there is potential for a pullback initially to 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 USDCHF as at 27th May 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -





Comments
USDCHF on a swing basis continues to trend positively with the moving averages confirming the trend. Currently the price action has retraced from the Fibonacci expansion area and moved back into the averages. The next potential support level is at the prior swing high to be found at 0.9550.

Scenario 1
We are monitoring a potential move to further targets being 0.9970 which corresponds to a prior Swing High and then the significant USDCHF 1.0000 level.

Scenario 2
Alternatively the price action could possibly continue its correction down 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


Daily Technical Analysis for USDJPY as at 27th May 2013
DAILY OVERVIEW


Trend : Long
Ambush Zone : 100.50 – 98.40
Target 1 : 104.00
Target 2 : 110.00
Stop : 97.00



Comments
USDJPY on a swing basis continues to trend positively with the moving averages confirming the market direction. However yesterday price action rejected the 161.80 Fibonacci expansion level and USDJPY has subsequently corrected down to a level slightly above the 34 period moving averages and Fibonacci support. The RSI has not confirmed this move down as a positive divergence is forming. This would possibly imply that support could hold.

We have identified the following levels as possible long targets.
1. A retouch of 104.00 being the 161.80 Fibonacci Expansion target.
2. The 105.00 level being the 200 percent Fibonacci Expansion target.
3. Around 108.00 being long term trend line resistance.
4. 110.00 being a prior Swing High Pivot.
Scenario 1
A move down to Fibonacci support could offer a potential opportunity to buy USDJPY with targets mentioned coming into focus.

Scenario 2
Alternatively if the price action can breach and close beneath the long average there is a possibility for a further move to 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 27th 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 on a swing basis is trading negatively with the moving averages confirming the trend. However the price action has retraced to the small average thus creating the possibility of a Higher Low and double bottom scenario.
That said as the trend is negative the focus will continue on the short side.

Scenario 1
We are monitoring the price action at the area of the 8 period moving averages so as to identify possible selling opportunities.

Scenario 2
Alternatively if Gold can close above the 8 period moving averages the potential for a move to Fibonacci resistance comes into play.

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 27th May 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : 94.45 – 93.00
Target 1 : 97.30
Target 2 : 99.00
Stop : 92.00




Comments
Oil on a swing basis continues to trade positively with the moving averages confirming the direction. However Oil has pullback into Fibonacci support where it touched and rejected a prior broken up trend line. The bigger picture continues to be one where the price action is trading near the top of a large monthly converging triangle.

Scenario 1
We are monitoring the price action at these levels for a possible resumption of the uptrend with possible targets being the 100 % and 138.2% Fibonacci Expansion level in the areas of 99.00 and 103.00 respectively. However the psychological 100.00 level will need to be broken for any further upside to continue.

Scenario 2
Alternatively if Oil cannot find support at these levels there is a possibility of a retest of the prior broken upward 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

[acfx]

Daily Technical Analysis for EURUSD as at 28th May 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : 1.3015 – 1.3145
Target 1 : 1.2795
Target 2 : 1.2745
Stop : 1.3245




Comments
EURUSD has this morning opened negatively.

The swing bias remains negative with the averages confirming this direction. The price action continues to range around the upward sloping trend line and between both the short and long moving averages. That the price action has retraced into the averages when the trend is down could be viewed as a possible selling opportunity. However the upward sloping trend line may offer resistance to further downside movement.

Scenario 1
We are monitoring a potential break down in the direction of the 4th April Swing Low.

Scenario 2
Alternatively EURUSD could possibly retrace up the long average and Fibonacci resistance 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 GBPUSD as at 28th May 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -





Comments
This morning GBPUSD has opened neutral.

GBPUSD on a swing basis continues to have a negative bias and is trading under both the short and long moving averages.

Scenario 1
We are monitoring a potential move to the pivot low of 12th March. However an uptrend line may initially offer support at around the 1.4900 area.

Scenario 2
Alternatively a close above 8 period moving averages could potentially signal an attempt to trade up to the 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 28th May 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -





Comments
This morning USDCHF has opened positively.

USDCHF on a swing basis continues to trend positively with the moving averages confirming the trend. Currently the price action has retraced from the Fibonacci expansion area and moved back into the averages. The next potential support level is at the prior swing high to be found at 0.9550.

Scenario 1
We are monitoring a potential move to further targets being 0.9970 which corresponds to a prior Swing High and then the significant USDCHF 1.0000 level.

Scenario 2
Alternatively the price action could possibly continue its correction down 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




Daily Technical Analysis for USDJPY as at 28th May 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : 100.50 – 98.40
Target 1 : 104.00
Target 2 : 110.00
Stop : 97.00





Comments
This morning USDJPY has opened positively.

USDJPY on a swing basis continues to trend positively with the moving averages confirming the market direction. The price action has retraced and trading within the averages which could potentially offer a buying opportunity. The RSI is also diverging positively.

We have identified the following levels as possible long targets.
1. A retouch of 104.00 being the 161.80 Fibonacci Expansion target.
2. The 105.00 level being the 200 percent Fibonacci Expansion target.
3. Around 108.00 being long term trend line resistance.
4. 110.00 being a prior Swing High Pivot.
Scenario 1
A move down to Fibonacci support could offer a potential opportunity to buy USDJPY with targets mentioned coming into focus.

Scenario 2
Alternatively if the price action can breach and close beneath the long average there is a possibility for a further move to 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 28th 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 this morning opened negative to neutral.

Gold on a swing basis is trading negatively with the moving averages confirming the trend. A failure to breach the 16th April low will effectively put in place a higher low.

Scenario 1
As the price action has retraced between the averages this offers a potential selling opportunity as the trend is down. We are monitoring the price action at these levels so as to identify possible selling opportunities.

Scenario 2
Alternatively as Gold has closed above the 8 period moving averages the potential for a move to Fibonacci resistance comes into play.

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 28th May 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : 94.45 – 93.00
Target 1 : 97.30
Target 2 : 99.00
Stop : 92.00





Comments
Oil has this morning opened flat to positive.

Oil on a swing basis continues to trade positively with the moving averages confirming the direction. However Oil has pullback into Fibonacci support where it touched and rejected a prior broken up trend line. The bigger picture continues to be one where the price action is trading near the top of a large monthly converging triangle.

Scenario 1
We are monitoring the price action at these levels for a possible resumption of the uptrend with possible targets being the 100 % and 138.2% Fibonacci Expansion level in the areas of 99.00 and 103.00 respectively. However the psychological 100.00 level will need to be broken for any further upside to continue.

Scenario 2
Alternatively if Oil cannot find support at these levels there is a possibility of a retest of the prior broken upward 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

[acfx]

Daily Technical Analysis for EURUSD as at 29th May 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : 1.3015 – 1.3145
Target 1 : 1.2795
Target 2 : 1.2745
Stop : 1.3245




Comments
EURUSD has this morning opened unchanged after yesterdays strong down day where it closed beneath the downward sloping trend line.

The swing bias remains negative with the averages confirming this direction. The price action continues to range around the upward sloping trend line but has rejected a move into the averages is now trading beneath both the short and long moving averages. This possibility was mentioned in yesterdays post. Although a continuation o of the down move is a possibility the upward sloping trend line may still offer some resistance to further downside movement.

Scenario 1
We are monitoring a potential break down in the direction of the 4th April Swing Low.

Scenario 2
Alternatively EURUSD could possibly retrace up the long average and Fibonacci resistance 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 GBPUSD as at 29th May 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -





Comments
This morning GBPUSD has opened down to unchanged.

GBPUSD on a swing basis continues to have a negative bias and is trading under both the short and long moving averages.

Scenario 1
The price action has retraced and rebound off the 8 period moving averages. We are monitoring a potential move to the pivot low of 12th March. However an uptrend line may initially offer support at around the 1.4900 area.

Scenario 2
Alternatively a close above 8 period moving averages could potentially signal an attempt to trade up to the 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 29th May 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -





Comments
This morning USDCHF has opened slightly negative after experiencing a strong up day yesterday.

USDCHF on a swing basis continues to trend positively with the moving averages confirming the trend. Currently the price action has re-entered the Fibonacci expansion area and breached the 161.80 level.

Scenario 1
We are monitoring a potential move to further targets being 0.9970 which corresponds to a prior Swing High and then the significant USDCHF 1.0000 level.

Scenario 2
Alternatively the price action could possibly continue its correction down 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



Daily Technical Analysis for USDJPY as at 29th May 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : 100.50 – 98.40
Target 1 : 104.00
Target 2 : 110.00
Stop : 97.00






Comments
This morning USDJPY has opened unchanged after yesterday experiencing a moderately strong up day.

USDJPY on a swing basis continues to trend positively with the moving averages confirming the market direction. The price action had retraced trading within the averages. This as mention yesterday offered a buying opportunity and the price action has since traded higher and is now above both averages. The RSI continues to diverge positively.

We have identified the following levels as possible long targets.
1. A retouch of 104.00 being the 161.80 Fibonacci Expansion target.
2. The 105.00 level being the 200 percent Fibonacci Expansion target.
3. Around 108.00 being long term trend line resistance.
4. 110.00 being a prior Swing High Pivot.
Scenario 1
For USDJPY to continue its upward journey with an initial target being the last swing pivot high.

Scenario 2
Alternatively a move down to Fibonacci support could offer a potential opportunity to buy USDJPY with targets mentioned coming into focus.


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 29th 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 this morning opened slightly positive.

Gold on a swing basis is trading negatively with the moving averages confirming the trend with the price action trading with the averages. Although the trend is down a failure to breach the 16th April low will effectively put in place a higher low.

Scenario 1
As the price action has retraced between the averages this offers a potential selling opportunity as the trend is down. We are monitoring the price action at these levels so as to identify possible selling opportunities.

Scenario 2
Alternatively as Gold has closed above the 8 period moving averages the potential for a move to Fibonacci resistance comes into play.

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 29th May 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : 94.45 – 93.00
Target 1 : 97.30
Target 2 : 99.00
Stop : 92.00





Comments
Oil has this morning opened slightly negatively after yesterday experiencing a strong move up to the downward sloping trend line where selling came in.

Oil on a swing basis continues to trade positively with the moving averages confirming the direction. The price action is now trading just above both averages. The bigger picture continues to be one where the price action is trading near the top of a large monthly converging triangle.

Scenario 1
We are monitoring the price action at these levels for a possible resumption of the uptrend with possible targets being the 100 % and 138.2% Fibonacci Expansion level in the areas of 99.00 and 103.00 respectively. However the psychological 100.00 level will need to be broken for any further upside to continue.

Scenario 2
Alternatively if Oil cannot close above the downward sloping trend line then a retest of the prior broken upward sloping trend line comes into focus.

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

[acfx]

Daily Technical Analysis for EURUSD as at 30th May 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : 1.3015 – 1.3145
Target 1 : 1.2795
Target 2 : 1.2745
Stop : 1.3245



Comments
EURUSD has this morning opened higher after yesterdays strong up day where it closed above the upward sloping trend line. Today’s opening range is 53 pips which equates to 55% of the daily average true range. The swing bias remains negative and the averages are confirming the market direction. However the price action has retraced and is trading between both short and long averages.
In terms of the bigger picture the price action is in the process of forming a higher low but confirmation is required for a change of trend to be established. A prior swing high breach would confirm a possible change of trend. Overhead resistance however in terms of the downward sloping trend line, the long average and Fibonacci resistance may put a brake on further upward momentum.

Scenario 1
As the dominant daily trend is down the retracement into the averages might offer shorting opportunities at resistance or if a clear negative divergence can be identified. The initial target for any down break would be the 17th May prior swing low.

Scenario 2
Alternatively EURUSD could continue its retracement up to the long average and Fibonacci resistance level.


Daily Technical Analysis for GBPUSD as at 30th May 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -




Comments
GBPUSD has this morning opened higher after yesterdays strong up day. Today’s opening range is 72 pips which equates to a 63% of the daily average true range. The swing bias remains negative and the averages are confirming the market direction. However he price action has retraced and is currently trading between both short and long averages.

In terms of the bigger picture the price action is in the process of forming a higher low but confirmation is required for a change of trend to be established. A prior swing high breach would confirm a possible change of trend. Overhead resistance however in terms of the downward sloping trend line, the long average and Fibonacci resistance may put a brake on further upward momentum.
Scenario 1
As the dominant daily trend is down the retracement into the averages might offer shorting opportunities at resistance or if a clear negative divergence can be identified. The initial target for any down break would be the upward sloping trend line that may offer some support followed by the 12th March prior swing low.

Scenario 2
Alternatively GBPUSD could continue its retracement up to the long average and Fibonacci resistance level.


Daily Technical Analysis for USDCHF as at 30th May 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -




Comments
USDCHF has this morning opened lower after yesterdays strong down day. Today’s opening range is 75 pips which equates to 62% of the daily average true range. The swing bias remains positive and the averages are confirming the market direction. However he price action has retraced and is currently trading between both short and long averages.

In terms of the bigger picture the price action has rejected the Fibonacci expansion areas in its attempt to reach the 0.9970 and parity levels and in the process has retraced to be just above Fibonacci support.

Scenario 1
As the dominant daily trend is up the retracement into the averages and possible further move into Fibonacci support might offer buying opportunities at support or if a clear positive divergence can be identified. The initial target for any down break would be the 22nd May prior swing high.

Scenario 2
Alternatively the price action could possibly continue its correction down to Fibonacci support and then the upward sloping trend line.


Daily Technical Analysis for USDJPY as at 30th May 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : 100.50 – 98.40
Target 1 : 104.00
Target 2 : 110.00
Stop : 97.00




Comments
USDJPY has this morning opened lower after yesterdays strong down day. Today’s opening range is 106 pips which equates to 83% of the daily average true range. The swing bias remains positive and the averages are confirming the market direction. However he price action has retraced and is currently trading between both short and long averages.

In terms of the bigger picture the price action has retraced and is trading just above Fibonacci support. Furthermore a large RSI is positive divergence is forming.

Scenario 1
As the dominant daily trend is up the retracement into the averages and possibly further into Fibonacci support may offer buying opportunities at support and this would be in line with the RSI positive divergence.

We have identified the following levels as possible long targets.
1. A retouch of 104.00 being the 161.80 Fibonacci Expansion target.
2. The 105.00 level being the 200 percent Fibonacci Expansion target.
3. Around 108.00 being long term trend line resistance.
4. 110.00 being a prior Swing High Pivot.
Scenario 2
Alternatively USDJPY could continue its retracement down to the long average and Fibonacci support level and then potentially further to trend line support.

Daily Technical Analysis for Gold as at 30th 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 this morning opened higher after yesterdays up down day. Today’s opening range is 209 pips which equates to 68% of the daily average true range. The swing bias remains negative and the averages are confirming the market direction. However he price action has retraced and is currently trading between both short and long averages.

In terms of the bigger picture the price action is in the process of forming a higher low but confirmation is required for a change of trend to be established. A prior swing high breach would confirm a possible change of trend. Overhead resistance however in terms of the long average and Fibonacci resistance may put a brake on further upward momentum. Furthermore TRSI is diverging negatively.

Scenario 1
As the dominant daily trend is down the retracement into the averages might possibly offer shorting opportunities at resistance or as in this case a negative divergence can be identified. The initial target for any down break would be the 20th May prior low.

Scenario 2
Alternatively as Gold has closed above the 8 period moving averages the potential for a move to Fibonacci resistance comes into play.



Daily Technical Analysis for Oil (WTI) as at 30th May 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : 94.45 – 93.00
Target 1 : 97.30
Target 2 : 99.00
Stop : 92.00




Comments
Oil has this morning opened unchanged after yesterdays strong down day. Today’s opening range is 57 pips which equates to 32% of the daily average true range. The swing bias remains positive and the averages are confirming the market direction. However he price action has retraced and is currently trading between both short and long averages.

The bigger picture continues to be one where the price action is trading near the top of a large monthly converging triangle. Furthermore we also we have had a breach and close beneath a prior broken upward sloping trend line and a move through a small Fibonacci support area

Scenario 1
As the dominant daily trend is up we are monitoring the price action at these levels for a possible resumption of the uptrend with possible targets being the 100 % and 138.2% Fibonacci Expansion level in the areas of 99.00 and 103.00 respectively. However the psychological 100.00 level will need to be broken for any further upside to continue.

Scenario 2
Alternatively as Oil has breached the prior broken upward sloping trend line a continued move down the 15th May swing low is a possibility.

[acfx]

Daily Technical Analysis for EURUSD as at 31st May 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : 1.3015 – 1.3145
Target 1 : 1.2795
Target 2 : 1.2745
Stop : 1.3245




Comments
EURUSD is this morning trading lower from the open after yesterdays strong up day. Today’s opening range is 28 pips which equates to 28% of the daily average true range.
In terms of the bigger picture the swing bias remains negative and the averages are confirming the market direction. However the price action is trading and closed above both averages which could be viewed as the market being overbought when the market is in a down trend or the market bias attempting to change its position from negative to positive.
If one was to move to the higher time frame Weekly chart it is easier to see that the price action is in the process of forming a higher low but confirmation is required for a change of trend to be established. Back to a daily time frame a prior swing high breach would confirm a possible change of trend. Overhead resistance in terms of the downward sloping trend line and Fibonacci resistance may put a brake on further upward momentum. However one hurdle in terms closing above the long average has been overcome.
Scenario 1
As the dominant daily trend is down the retracement into Fibonacci resistance combined with overhead trend line resistance might offer shorting opportunities. However we have yet to notice any loss of momentum that could be identified by an oscillator divergence or candle stick pattern. The initial target for any down break would be the 17th May prior swing low.

Scenario 2
Alternatively EURUSD could continue its retracement so as to eventually breach the downward sloping trend line.



Daily Technical Analysis for GBPUSD as at 31th May 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : 1.5260 – 1.5470
Target 1 : 1.5000
Target 2 : 1.4865
Stop : 1.5600




Comments
GBPUSD is this morning trading lower from the open after yesterdays strong up day. Today’s opening range is 24 pips which equates to a 21% of the daily average true range.

In terms of the bigger picture he swing bias remains negative and the averages are confirming the market direction. However he price action has retraced and is currently trading between both short and long averages.

If one was to move to the higher time frame Weekly chart it is easier to see that the price action is in the process of forming a higher low but confirmation is required for a change of trend to be established. Back to a daily time frame a prior swing high breach would confirm a possible change of trend. Overhead resistance however in terms Fibonacci resistance might limit further upward momentum.
Scenario 1
As the dominant daily trend is down the retracement into the averages might offer shorting opportunities. However we have yet to notice any loss of momentum that could be identified by an oscillator divergence or candle stick pattern.The initial target for any down break would be the upward sloping trend line that may offer some support followed by the 12th March prior swing low.

Scenario 2
Alternatively GBPUSD could continue its retracement up to the long average and Fibonacci resistance level.


Daily Technical Analysis for USDCHF as at 31st May 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : 0.9550 – 0.9370
Target 1 : 0.9840
Target 2 : 0.9970
Stop : 0.9245





Comments
USDCHF is this morning trading lower from the open lower after yesterdays strong down day. Today’s opening range is 33 pips which equates to 27% of the daily average true range.

In terms of the bigger picture the swing bias remains positive and the averages are confirming the market direction. However he price action has retraced and is currently trading between both short and long averages and is trading just inside Fibonacci support.

Scenario 1
As the dominant daily trend is up the retracement into the averages and possible further move into Fibonacci support might offer buying opportunities. However we have yet to notice any loss of momentum that could be identified by an oscillator divergence or candle stick pattern. The initial target for any down break would be the 22nd May prior swing high.

Scenario 2
Alternatively the price action could possibly continue its correction down into Fibonacci support and then the upward sloping trend line.


Daily Technical Analysis for USDJPY as at 31st May 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : 100.50 – 98.40
Target 1 : 104.00
Target 2 : 110.00
Stop : 97.00




Comments
USDJPY is this morning trading unchanged from the open after yesterdays down day. Today’s opening range is 57 pips which equates to 44% of the daily average true range.

In terms of the bigger picture the swing bias remains positive and the averages are confirming the market direction. However he price action has retraced and is currently trading between both short and long averages and just above Fibonacci support. Furthermore a large RSI is positive divergence is forming.

Scenario 1
As the dominant daily trend is up the retracement into the averages and possibly further into Fibonacci support may offer buying opportunities at support and this would be in line with the RSI positive divergence.

We have identified the following levels as possible long targets.
1. A retouch of 104.00 being the 161.80 Fibonacci Expansion target.
2. The 105.00 level being the 200 percent Fibonacci Expansion target.
3. Around 108.00 being long term trend line resistance.
4. 110.00 being a prior Swing High Pivot.
Scenario 2
Alternatively USDJPY could continue its retracement down to the long average and Fibonacci support level and then potentially further to trend line support.



Daily Technical Analysis for Gold as at 31st 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 is this morning trading higher from the open after yesterdays up day. Today’s opening range is 900 pips which equates to 28% of the daily average true range

In terms of the bigger picture the swing bias remains negative and the averages are confirming the market direction. However the price action has retraced and is currently trading between both short and long averages. It would appear that Gold is in the process of forming a higher low but confirmation is required for a change of trend to be established. A prior swing high breach would confirm a possible change of trend. Overhead resistance however in terms of the long average and Fibonacci resistance may put a brake on further upward momentum. Furthermore the RSI is diverging negatively.

Scenario 1
As the dominant daily trend is down the retracement into the averages might possibly offer shorting opportunities at resistance. The initial target for any down break would be the 20th May prior low.

Scenario 2
Alternatively as Gold has closed above the 8 period moving averages the potential for a move to Fibonacci resistance comes into play.



Daily Technical Analysis for Oil (WTI) as at 31st May 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -




Comments
Oil is this morning trading higher from the open after yesterdays strong up day. Today’s opening range is 47 pips which equates to 26% of the daily average true range.

In terms of the bigger price action continues to trade near the top of a large monthly converging triangle. However following the breach of the prior pivot low the swing bias has changed from positive to negative. This has coincided with breach of a prior broken upward sloping trend line.

From a bullish perspective the moving averages however have yet to cross and confirm this new trend. Furthermore the price action has retraced and is trading just above Fibonacci support and yesterday’s price action put in place a bullish hammer candle stick.

Scenario 1
As the dominant daily trend has changed to negative we are monitoring the possibility of continued move down to Fibonacci support.

Scenario 2
Alternatively following yesterday’s candle stick hammer formation and approach of Fibonacci resistance we are monitoring the possibility of a bounce and even a resumption of the prior up trend with potential targets the 100 % and 138.2% Fibonacci Expansion level in the areas of 99.00 and 103.00 respectively. However the psychological 100.00 level will need to be broken for any further upside to continue.

[acfx]

Daily Technical Analysis for EURUSD as at 3rd June 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : 1.3015 – 1.3145
Target 1 : 1.2795
Target 2 : 1.2745
Stop : 1.3245





Comments
EURUSD is this morning trading higher from the open after Fridays down day. Today’s opening range is 35 pips which equates to 35% of the daily average true range.
In terms of the bigger picture the swing bias remains negative and the averages are confirming the market direction. However the price action is trading and closed above both averages which could be viewed as the market being overbought when the market is in a down trend or the market bias attempting to change its position from negative to positive.
If one was to move to the higher time frame Weekly chart it is easier to see that the price action is in the process of forming a higher low but confirmation is required for a change of trend to be established. Back to a daily time frame a prior swing high breach would confirm a possible change of trend. Overhead resistance in terms of the downward sloping trend line and Fibonacci resistance may put a brake on further upward momentum. However one hurdle in terms closing above the long average has been overcome.
Scenario 1
As the dominant daily trend is down the retracement into Fibonacci resistance combined with overhead trend line resistance might offer shorting opportunities. However we have yet to notice any loss of momentum that could be identified by an oscillator divergence or candle stick pattern. The initial target for any down break would be the 17th May prior swing low.

Scenario 2
Alternatively EURUSD could continue its retracement so as to eventually breach the downward sloping trend line.


Daily Technical Analysis for GBPUSD as at 3rd June 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : 1.5260 – 1.5470
Target 1 : 1.5000
Target 2 : 1.4865
Stop : 1.5600




Comments
GBPUSD is this morning trading higher from the open after yesterdays weak down day. Today’s opening range is 39 pips which equates to a 35% of the daily average true range.

In terms of the bigger picture he swing bias remains negative and the averages are confirming the market direction. However he price action has retraced and is currently trading between both short and long averages.

If one was to move to the higher time frame Weekly chart it is easier to see that the price action is in the process of forming a higher low but confirmation is required for a change of trend to be established. Back to a daily time frame a prior swing high breach would confirm a possible change of trend. Overhead resistance however in terms Fibonacci resistance might limit further upward momentum.
Scenario 1
As the dominant daily trend is down the retracement into the averages might offer shorting opportunities. However we have yet to notice any loss of momentum that could be identified by an oscillator divergence or candle stick pattern. The initial target for any down break would be the upward sloping trend line that may offer some support followed by the 12th March prior swing low.

Scenario 2
Alternatively GBPUSD could continue its retracement up to the long average and Fibonacci resistance level.


Daily Technical Analysis for USDJPY as at 3rd June 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : 100.50 – 98.40
Target 1 : 104.00
Target 2 : 110.00
Stop : 97.00




Comments
USDJPY is this morning trading unchanged from the open after Fridays down day. Today’s opening range is 49 pips which equates to 38% of the daily average true range.

In terms of the bigger picture the swing bias remains positive and the averages are confirming the market direction. However he price action has retraced and is currently trading at the long averages and just above Fibonacci support. Furthermore a large RSI is positive divergence is forming.

Scenario 1
As the dominant daily trend is up the retracement into the averages and possibly further into Fibonacci support may offer buying opportunities at support and this would be in line with the RSI positive divergence.

We have identified the following levels as possible long targets.
1. A retouch of 104.00 being the 161.80 Fibonacci Expansion target.
2. The 105.00 level being the 200 percent Fibonacci Expansion target.
3. Around 108.00 being long term trend line resistance.
4. 110.00 being a prior Swing High Pivot.
Scenario 2
Alternatively USDJPY could continue its retracement down to the long average and Fibonacci support level and then potentially further to trend line support.


Daily Technical Analysis for USDCHF as at 3rd June 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : 0.9550 – 0.9370
Target 1 : 0.9840
Target 2 : 0.9970
Stop : 0.9245




Comments
USDCHF is this morning trading lower from the open lower after Fridays up day. Today’s opening range is 42 pips which equates to 35% of the daily average true range.

In terms of the bigger picture the swing bias remains positive and the averages are confirming the market direction. However he price action has retraced and is currently trading between both short and long averages and is trading just inside Fibonacci support.

Scenario 1
As the dominant daily trend is up the retracement into the averages and possible further move into Fibonacci support might offer buying opportunities. However we have yet to notice any loss of momentum that could be identified by an oscillator divergence or candle stick pattern. The initial target for any down break would be the 22nd May prior swing high.

Scenario 2
Alternatively the price action could possibly continue its correction down into Fibonacci support and then the upward sloping trend line.



Daily Technical Analysis for Gold as at 3rd June 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : 1452.60 – 1525.85
Target 1 : 1321.75
Target 2 : 1308.08
Stop : 1590.20





Comments
Gold is this morning trading higher from the open after Fridays down day. Today’s opening range is 946 pips which equates to 29% of the daily average true range

In terms of the bigger picture the swing bias remains negative and the averages are confirming the market direction. However the price action has retraced and is currently trading between both short and long averages. It would appear that Gold is in the process of forming a higher low but confirmation is required for a change of trend to be established. A prior swing high breach would confirm a possible change of trend. Overhead resistance however in terms of the long average and Fibonacci resistance may put a brake on further upward momentum.

Scenario 1
As the dominant daily trend is down the retracement into the averages might possibly offer shorting opportunities at resistance. The initial target for any down break would be the 20th May prior low.

Scenario 2
Alternatively as Gold has closed above the 8 period moving averages the potential for a move to Fibonacci resistance comes into play.


Daily Technical Analysis for Oil (WTI) as at 3rd June 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -




Comments
Oil is this morning trading higher from the open after yesterdays strong down day. Today’s opening range is 70 pips which equates to 38% of the daily average true range.

In terms of the bigger price action continues to trade near the top of a large monthly converging triangle. However following the breach of the prior pivot low the swing bias has changed from positive to negative. This has coincided with breach of a prior broken upward sloping trend line.

From a bullish perspective the moving averages however have yet to cross and confirm this new trend. Furthermore the price action has retraced and is trading just above Fibonacci support.

Scenario 1
As the dominant daily trend has changed to negative we are monitoring the possibility of continued move down into Fibonacci support.

Scenario 2
Alternatively as the price action is trading around Fibonacci we are monitoring the possibility of a bounce and even a resumption of the prior up trend with potential targets the 100 % and 138.2% Fibonacci Expansion level in the areas of 99.00 and 103.00
respectively. However the psychological 100.00 level will need to be broken for any further upside to continue.