acfx Posted February 26, 2013 Report Share Posted February 26, 2013 Daily Technical Analysis for EURUSD as at 26th February 2013 DAILY OVERVIEW Trend : - Ambush Zone : - Target 1 : - Target 2 : - Stop : - Comments EURUSD did trade higher off the lows and at one point was up over 120points on the day which actually exceeds one daily Average True Range only forEuro to rapidly lose value during the New York session and brake downaggressively through the down trend line. Technically EURUSD is swing long as it is still trading above the last isolatedHL of the 4th January which is at the 1.3000 area. It would not be asurprise if this downward momentum is halted around this significant pricelevel however the aggressiveness of the move down has to be allowed for especiallyafter the break of trend line support. As the current price level is extended from the 8 period movingaverages we are monitoring the possibility that EURUSD trades back to the areaof this average which also coincides with the bottom of the uptrend line wherewe would expect to see a reaction that either rejects this price level and wesee a possible downward bounce off resistance or EURUSD breaches and closesabove resistance. Alternatively through the force of its own momentum EURUSDcontinues to trade lower from this current level in the direction of 1.3000areas. Definitions Trend : Currenttrend 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 26th February 2013 DAILY OVERVIEW Trend : Short Ambush Zone : - Target 1 : - Target 2 : - Stop : - Comments GBPUSD continues to trade beneath prior support but is this morningattempting to trade back up towards this area. This may offer the possibilityfor bears add additional shorts. Definitions Trend : Current trend as defined by technicalSwing Analysis. HH : HigherHigh HL : HigherLow LL : LowerLow LH : LowerHigh CofT : Change of Trend Daily Technical Analysis for USDJPY as at 26th February 2013 DAILY OVERVIEW Trend : Long Ambush Zone : - Target 1 : - Target 2 : - Stop : - Comments Yesterday morning initial upward momentum reversed and collapsed inwhat was one of the biggest moves of the past 12 months. The loss of value inthe USD was significant as it is completely opposite to what happened with boththe EURUSD and USDCHF and possibly points to a bigger picture that includeswhat is happening to both the US Bond and Equities markets. Although we are still Swing Positive the aggressiveness of the move hasto be allowed for therefore more down side momentum should not be a surprise. Alternatively that USDJPY has actually bounced off the 34 period movingaverages could see a reaction that pushes the price higher at least to the 8period moving averages. Definitions Trend : Current trend as defined by technicalSwing Analysis HH : Higher High HL : Higher Low LL : Lower Low LH : Lower High CofT : Change of Trend Daily Technical Analysis for USDCHF as at 26th February 2013 DAILY OVERVIEW Trend : Short Ambush Zone : 0.9205 – 0.9310 Target 1 : 0.9020 Target 2 : 0.8930 Stop : >0.9390 Comments Yesterday morning’s initial sell off in USDCHF was strong with a 70 pipdown move which is roughly in line with one daily Average True Range move.However as with EURUSD the weakness in the USD was reversed during the New Yorksession. We continue to monitor the price action to see if USDCHF can follow throughhigher during the London session. A failure to push higher will of course givethe bears encouragement to short these levels. Definitions Trend : Current trend as defined by technicalSwing Analysis HH : Higher High HL : Higher Low LL : Lower Low LH : Lower High CofT : Change of Trend Daily Technical Analysis for Gold as at 26th February 2013 DAILY OVERVIEW Trend : Short Ambush Zone : - Target 1 : - Target 2 : - Stop : - Comments Asmentioned yesterday we pin pointed the 8 period moving averages as the initialtarget area where additional shorts could possibly be considered. This morningGold has reached this target and is showing initial signs of negativity. We aremonitoring the price action at this levels for confirmation of this negativerotation. Definitions Trend : Current trend as defined by technicalSwing 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 26th February 2013 DAILY OVERVIEW Trend : Long Ambush Zone : - Target 1 : - Target 2 : - Stop : - Comments Oil has traded lower but has not significantly breached the downwardsloping trend line. We continue to monitor the price action at these levels soas to identify the possibility that Oil is building a base where it can atleast trade up to the 8 period moving averages. Alternatively a break ofsupport may see Oil move to the Fibonacci area where the price action will bemonitored for a possible positive rotation. Definitions Trend : Current trend as defined by technicalSwing Analysis HH : Higher High HL : Higher Low LL : Lower Low LH : Lower High CofT : Change of Trend Quote Link to comment Share on other sites More sharing options...
Tanzil Al Banna Posted December 16, 2016 Report Share Posted December 16, 2016 Your trading analysis is really impressive! I hope, you will continue your outstanding contribution here! I believe, using trading analysis is the most useful way of learning Forex trading for new Forex traders, I personally used daily market analysis of TradingBanks broker for learning technical and news trading! As a result, now I can make market analysis manually since I found there proper direction! Quote https://www.tradingbanks.com/ Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.