Daily Technical Analysis from ACFX

Atlas CapitalFx · December 8, 2015

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MARKET BRIEFING – TECHNICAL ANALYSIS 08.12.2015

EURUSD

http://academy.acfx.com/wp-content/uploads/2015/12/0812EURUSDH4.png

The intraday technical outlook

EURUSD is ranging, trying to define a further direction after last Thursday’s move.

EURUSD needs to break below 1.0838 level being the intraday Pivot Point if the price action is to continue the downward move.

The initial downside target is 1.0789, which is 1st pivot support of the pair. Should this level be reached successfully, a further extension towards 1.0731, being today’s Daily Average True Range (ATR) downside projection level, could take place next.

If EURUSD fails to maintain the downward momentum, a retracement higher could potentially unfold.

If this scenario was to occur the target for today is 1.0939, which is the Daily Average True Range (ATR) upside projection level.

GBPUSD

http://academy.acfx.com/wp-content/uploads/2015/12/0812GBPUSDH4.png

The intraday technical outlook

GBPUSD is heading lower after much lower than expected UK Manufacturing Production figure was published this morning.

GBPUSD needs to hold below 1.5070 level, being the intraday Pivot Point if the price action is to continue its downward move.

The initial downside target is 1.4953, being today’s 3rd pivot support level, which also coincides with Daily Average True Range downside projection level of the pair.

If GBPUSD fails to maintain the downward momentum, a reversal and trading higher could potentially unfold.

If this scenario was to occur, the target for today will be 1.5070, which is the pair’s pivot point of today.

USDJPY

http://academy.acfx.com/wp-content/uploads/2015/12/0812USDJPYH1.png

The intraday technical outlook

USDJPY is retracing this morning.

USDJPY needs to break above the 123.32 level, being the intraday Pivot Point in order to hold the uptrend scenario.

The initial upside target is 123.32, which is the pivot point of today. Should this level be reached, a further extension towards 123.50, being the pair’s 1st pivot resistance level of the day, could likely take place.

If USDJPY fails to maintain the upward momentum, a retracement lower could potentially unfold.

If this scenario was to occur the target for today is 122.83, which is the pair’s 3rd pivot support level of today. In case this scenario will be activated, further extension to 122.72, being the pair’s Daily Average True Range downside target, could likely occur.

USDCHF

http://academy.acfx.com/wp-content/uploads/2015/12/0812USDCHFH4.png

The intraday technical outlook

USDCHF is consolidating after last Thursday’s decline.

USDCHF needs to breach above 1.0000 line being the intraday Pivot Point if the price action is to continue its upward move.

The initial upside target is 1.0033, being the 1st pivot resistance of today. Should that level be reached, the pair could continue trading towards 1.0067, being the 2nd resistance level.

If USDCHF fails to maintain upward momentum, a reversal lower could potentially unfold.

If this scenario was to occur the initial downside target for today will be 0.9927, being the 1st pivot support of today. A further extension towards 0.9900 level, which is the pair’s daily Average True Range downside projection level, could follow next in this case.

USDCAD

http://academy.acfx.com/wp-content/uploads/2015/12/0812USDCADH4.png

The intraday technical outlook

USDCAD has reached the eleven-year high this morning.

USDCAD needs to hold above 1.3461 level being the intraday Pivot Point if the price action is to continue its upward move.

The initial upside aim is 1.3584, being the Average True Range upside projection of today. Should this level be reached, it will open the way towards 1.3620, being the pair’s 2nd pivot resistance level of today.

If USDCAD fails to maintain its upward momentum, a reversal and returning to trade lower could potentially unfold.

If this scenario was to occur the target for today is 1.3461, which is today’s pivot point of the pair. A further extension towards of 1.3412, being the daily Average True Range downside projection could follow that move then.

AUDUSD

http://academy.acfx.com/wp-content/uploads/2015/12/0812AUDUSDH4.png

The intraday technical outlook

AUDUSD has breached the uptrend channel this morning.

AUDUSD needs to hold below 0.7287 level, being the intraday Pivot Point if the price action is to continue the downward move.

The initial downside target for this afternoon will be 0.7190, being the of the Daily Average True Range (ATR) downside projection level. Following that, the pair could decline to 0.7149, being the 3rd pivot support line of today.

If AUDUSD fails to maintain the downside momentum, a retracement higher could potentially unfold.

If this scenario was to occur the target is 0.7287, being the pair’s pivot point level of today.

GOLD

http://academy.acfx.com/wp-content/uploads/2015/12/0812GOLDH4.png

The intraday technical outlook

Gold is retracing from the last Friday’s highs.

The commodity needs to hold below 1074.64 level, being the intraday Pivot Point if the price action is to continue its downward move.

The initial downside target is 1062.82, which is the 1st pivot support of today. Should this target be reached, a move towards 1054.62, being the Daily Average True Range (ATR) downside projection level, could likely take place next.

If the metal fails to maintain the downward momentum, a reversal and trading higher could potentially unfold.

If this scenario was to occur, the target for today is 1085.72, which is the commodity’s upside projection level of the Daily Average True Range.

OIL

http://academy.acfx.com/wp-content/uploads/2015/12/0812OILUSDH4.png

The intraday technical outlook

Oil has declined to a six-year low this morning.

The commodity needs to hold below 39.28 level, being the intraday Pivot Point if the price action is to continue the downward move.

The initial downside target is 37.90, being the 1st pivot support level of today. Should this aim achieved successfully, the price could extend towards 37.30, which is the Daily Average True Range (ATR) downside projection level.

If the commodity fails to maintain the downside momentum, a reversal and trading higher could potentially unfold.

If this scenario was to occur the target for today is 40.28, being the commodity’s Average True Range (ATR) upside projection level of today.

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Atlas CapitalFx · December 9, 2015

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MARKET BRIEFING – LONDON OPEN 09.12.2015

The European Central Banks decisions not to deliver on its promise of QE2 has created indecision in the minds of traders.

Following the ECB’s lack of action, the market is now divided on the outcome of the Reserve Bank of New Zealand’s rate decision that takes place today.

However, some websites are reporting that the forecast is that the Official Cash Rate will be cut by 25 basis points from 2.75% to 2.50%.

A rate cut at this stage although significant, a failure by the RBNZ to follow through at this juncture would not put this story to bed.

What is of equal importance is the wording of the forward guidance that is made available to the market.

A dovish statement by the RBNZ will reinforce the negative bias for NZDUSD. Furthermore, the apparent policy divergence between the RNBZ and the United States Federal Reserve could further weaken the Kiwi over the short to medium term.

From a technical perspective, there is a concern within the RBNZ that the New Zealand Dollar has shown recent signs of strength. The price action having put a bottom in place at the 0.6120 which coincides with an area of monthly Fibonacci support around the 61.8% retracement level that was generated from March 2009 low and August 2011 high.

The move off the 61.8% Fibonacci level was sufficient enough to push NZDUSD through upward resistance as the price action broke through the upper slope of a downward channel that began in July 2014.

With the price action having re-broken above the 100 periods daily moving average as NZDUSD attempts to put in place a higher high, higher low, higher high formation on the daily chart, the fear within the RBNZ is that with the Kiwi no perilously close to the 200 periods daily moving average.

The opportunity now presents itself for a reinjection of some bearish news that will reinforce the dovish argument for NZDUSD and allow for this currency to once again depreciate, thus helping these country exporters to maintain their competitive advantage.

In terms of timing and levels, we should see a pickup in downside momentum post the FOMC meeting on December 16. That is unless we get a dovish surprise from the Federal Reserve Chairwoman, Janet Yellen.

The key levels would be a bounce off the 200 SMA around the 0.6700 / 0.6750 area and confirmation of the bearish bias will occur if we see a breach of the most recent daily swing low at the 0.6425 and then followed by a break of the 0.6400 big figure.

A more aggressive strategy would be to follow the downside momentum as the price action breaks key 4 and 1-hour support levels.

EURUSD

http://academy.acfx.com/wp-content/uploads/2015/12/EURUSDH109122015.png

The intraday technical outlook

Trend 1 hour: Down

Target 1: 1.0990

Target 2: 1.0790

Projected range in ATR’s: 0.0103

Daily control level: 1.0950

GBPUSD

http://academy.acfx.com/wp-content/uploads/2015/12/GBPUSDH109122015.png

The intraday technical outlook

Trend 1 hour: Down

Target 1: 1.5105

Target 2: 1.4910

Projected range in ATR’s: 0.0101

Daily control level: 1.5160

USDJPY

http://academy.acfx.com/wp-content/uploads/2015/12/USDJPYH109122015.png

The intraday technical outlook

Trend 1 hour: Down

Target 1: 123.55

Target 2: 122.30

Projected range in ATR’s: 0.62

Daily control level: 123.50

USDCHF

http://academy.acfx.com/wp-content/uploads/2015/12/USDCHFH109122015.png

The intraday technical outlook

Trend 1 hour: Down

Target 1: 1.0020

Target 2: 0.9825

Projected range in ATR’s: 0.0100

Daily control level: 1.0035

USDCAD

http://academy.acfx.com/wp-content/uploads/2015/12/USDCADH109122015.png

The intraday technical outlook

Trend 1 hour: Up

Target 1: 1.3675

Target 2: 1.3495

Projected range in ATR’s: 0.0091

Daily control level: 1.3315

AUDUSD

http://academy.acfx.com/wp-content/uploads/2015/12/AUDUSDH109122015.png

The intraday technical outlook

Trend 1 hour: Down

Target 1: 0.7285

Target 2: 0.7140

Projected range in ATR’s: 0.0072

Daily control level: 0.7385

GOLD

http://academy.acfx.com/wp-content/uploads/2015/12/GOLDH109122015.png

The intraday technical outlook

Trend 1 hour: Up

Target 1: 1089.00

Target 2: 1060.00

Projected range in ATR’s: 14.94

Daily control level: 1066.00

OIL

http://academy.acfx.com/wp-content/uploads/2015/12/OILUSDH109122015.png

The intraday technical outlook

Trend 1 hour: Down

Target 1: 40.00

Target 2: 37.00

Projected range in ATR’s: 1.56

Daily control level: 42.85

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Atlas CapitalFx · December 10, 2015

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MARKET BRIEFING – TECHNICAL ANALYSIS 10.12.2015

EURUSD

http://academy.acfx.com/wp-content/uploads/2015/12/1012EURUSDH4.png

The intraday technical outlook

EURUSD is retracing from 10-day high.

EURUSD needs to hold above 1.0981 level being the intraday Pivot Point if the price action is to continue the upward move.

The initial upside target is 1.1084, which is 1st pivot resistance of the pair. Should this mark be reached successfully, a further extension towards 1.1130 being the Daily Average True Range (ATR) upside projection level, could be observed further.

If EURUSD fails to maintain the upward momentum, a retracement lower could potentially unfold.

If this scenario was to occur the target for today is 1.0918, being the pair’s Daily Average True Range (ATR) downside projection level. In case this scenario will be activated, the pair could prolong its move to 0.0817 support level.

GBPUSD

http://academy.acfx.com/wp-content/uploads/2015/12/1012GBPUSDH4.png

The intraday technical outlook

GBPUSD has reached a two-week high ahead of BOE Monetary Policy Statement this afternoon.

GBPUSD needs to hold above 1.5124 level, being the intraday Pivot Point if the price action is to continue its upward move.

The initial upside target is 1.5245, being today’s 1st pivot resistance level. Should this target to be reached, the extend to 1.5281, which is the Daily Average True Range upside projection could further take place.

If GBPUSD fails to maintain the upward momentum, a reversal and trading lower could potentially unfold.

If this scenario was to occur, the target for today will be 1.5069, which is the pair’s the Daily Average True Range downside aim.

USDJPY

http://academy.acfx.com/wp-content/uploads/2015/12/1012USDJPYH4.png

The intraday technical outlook

USDJPY has declined lower as investors interest in the Japanese Yen is increasing.

USDJPY needs to hold below the 121.86 level, being the intraday Pivot Point in order to hold the downtrend scenario.

The initial downside target is 120.68, which is the 1st pivot support and also coincides the pair’s Daily Average True Range downside target. Should this level be reached, a further extension towards 119.87, could likely take place.

If USDJPY fails to maintain the downward momentum, a retracement higher could potentially unfold.

If this scenario was to occur the target for today is 122.62, which is the pair’s 1st pivot resistance level of today. In case this scenario will be activated, further extension to 123.81, being the pair’s 2nd resistance level of today, could occur.

USDCHF

http://academy.acfx.com/wp-content/uploads/2015/12/1012USDCHFH4.png

The intraday technical outlook

USDCHF has breached the downtrend channel this morning.

USDCHF needs to hold below 0.9864 line being the intraday Pivot Point if the price action is to continue its downward move.

The initial downside target is 0.9784, being the 1st pivot support of today. Should that level be reached, the pair could continue trading towards 0.9725, being the daily Average True Range downside projection level.

If USDCHF fails to maintain downward momentum, a reversal higher could potentially unfold.

If this scenario was to occur the initial upside target for today will be 0.9933, being the Average True Range upside projection of today.

USDCAD

http://academy.acfx.com/wp-content/uploads/2015/12/1012USDCADH4.png

The intraday technical outlook

USDCAD has bounced off the top of the uptrend channel this morning.

USDCAD needs to hold below 1.3570 level being the intraday Pivot Point if the price action is to continue its downward move.

The initial downside aim is 1.3486, being the Average True Range downside projection of today. Should this mark be reached, it will open the way towards 1.3418, being the pair’s 3rd pivot support level of today.

If USDCAD fails to maintain its downward momentum, a reversal and returning to trade higher could potentially unfold.

If this scenario was to occur the target for today is 1.3625, which is the pair’s 1st pivot resistance level of today. Following that, the pair could stretch to 1.3670, being the daily Average True Range upside projection.

AUDUSD

http://academy.acfx.com/wp-content/uploads/2015/12/AUDUSDH4.png

The intraday technical outlook

AUDUSD is trying to return to trade within the limits of the recently breached uptrend channel.

AUDUSD needs to hold below 0.7215 level, being the intraday Pivot Point if the price action is to continue the upward move.

The initial upside target for this afternoon will be 0.7332, being the 3rd pivot resistance level of today. Further extend to the previous high of 0.7385 could likely to be seen next following that.

If AUDUSD fails to maintain the upside momentum, a retracement lower could potentially unfold.

If this scenario was to occur the target is 0.7215, being the pair’s pivot point of today.

GOLD

http://academy.acfx.com/wp-content/uploads/2015/12/1012GOLDH4.png

The intraday technical outlook

Gold continue ranging in indecision after it surged higher last Friday.

The commodity needs to hold above 1075.49 level, being the intraday Pivot Point if the price action is to continue its upward move.

The initial downside target is 1087.00, being the Daily Average True Range (ATR) upside projection level.

If the metal fails to maintain the upward momentum, a reversal and trading lower could potentially unfold.

If this scenario was to occur, the target for today is 1066.01, which is the 1st support level of the pair for today. Following that, a move lower to 1056.60, being the commodity’s downside projection level of the Daily Average True Range, could take place next.

OIL

http://academy.acfx.com/wp-content/uploads/2015/12/1012OILUSDH4.png

The intraday technical outlook

Oil is consolidating at the six-year this morning, with the likely attempt to retest these limits.

The commodity needs to hold below 38.73 level, being the intraday Pivot Point if the price action is to continue the downward move.

The initial downside target is 37.51, being the 1st pivot support level of today. Should this aim achieved successfully, the price could extend towards 36.92, which is the Daily Average True Range (ATR) downside projection level.

If the commodity fails to maintain the downside momentum, a reversal and trading higher could potentially unfold.

If this scenario was to occur the target for today is 40.12, being the commodity’s Average True Range (ATR) upside projection level of today.

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Atlas CapitalFx · December 11, 2015

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MARKET BRIEFING – TECHNICAL ANALYSIS 11.12.2015

EURUSD

http://academy.acfx.com/wp-content/uploads/2015/12/1112EURUSDH4.png

The intraday technical outlook

EURUSD is trading within upward trending channel amid the US Dollar weakness ahead of the FOMC meeting next week.

EURUSD needs to hold above 1.0927 level being the intraday Pivot Point if the price action is to continue the upward move.

The initial upside target is 1.1011, which is 1st pivot resistance of the pair. Should this mark be reached successfully, a further extension towards 1.1047 being the Daily Average True Range (ATR) upside projection level, could be observed further.

If EURUSD fails to maintain the upward momentum, a retracement lower could potentially unfold.

If this scenario was to occur the target for today is 1.0901, being the pair’s 1st suport level of today. In case this scenario will be activated, the pair could prolong its move to 0.0831, which is the Daily Average True Range (ATR) downside projection level.

GBPUSD

http://academy.acfx.com/wp-content/uploads/2015/12/1112GBPUSDH41.png

The intraday technical outlook

GBPUSD has bounced off the top of the upward trending channel this morning.

GBPUSD needs to hold above 1.5156 level, being the intraday Pivot Point if the price action is to continue its upward move.

The initial upside target is 1.5203, being today’s 1st pivot resistance level. Should this target to be reached, the extend to 1.5261, which is the Daily Average True Range upside projection could take place next.

If GBPUSD fails to maintain the upward momentum, a reversal and trading lower could potentially unfold.

If this scenario was to occur, the target for today will be 1.5088, which is the pair’s 2nd intermediate support of today. Following that, the price could move to 1.5049, being the Daily Average True Range downside aim.

USDJPY

http://academy.acfx.com/wp-content/uploads/2015/12/1112USDJPYH4.png

The intraday technical outlook

USDJPY has bounced off the upper limit of the average Daily Average True Range.

USDJPY needs to break below the 121.55 level, being the intraday Pivot Point in order to hold the downtrend scenario.

The initial downside target is 121.23, which is the 1st pivot support line of today. Should this level be reached, a further extension towards 120.78, being the pair’s Daily Average True Range downside target, could likely take place next.

If USDJPY fails to maintain the downward momentum, a retracement higher could potentially unfold.

If this scenario was to occur the target for today is 122.31. In case this scenario will be activated, further extension to 122.48, being the pair’s 3rd resistance level of today, could occur.

USDCHF

http://academy.acfx.com/wp-content/uploads/2015/12/1112USDCHFH4.png

The intraday technical outlook

USDCHF is consolidating above the downward trending channel, which the pair breached yesterday.

USDCHF needs to hold below 0.9870 line being the intraday Pivot Point if the price action is to continue its downward move.

The initial downside target is 0.9810, being the 2nd intermediate pivot support of today. Should that level be reached, the pair could continue trading towards 0.9767, being the daily Average True Range downside projection level.

If USDCHF fails to maintain downward momentum, a reversal higher could potentially unfold.

If this scenario was to occur the initial upside target for today will be 0.9975, being the Average True Range upside projection of today.

USDCAD

http://academy.acfx.com/wp-content/uploads/2015/12/1112USDCADH4.png

The intraday technical outlook

USDCAD has breached the uptrend channel this morning.

USDCAD needs to hold above 1.3597 level being the intraday Pivot Point if the price action is to continue its downward move.

The initial upside aim is 1.3716, being the Average True Range upside projection of today. Should this mark be reached, it will open the way towards 1.3772, being the pair’s 3rd pivot resistance level of today.

If USDCAD fails to maintain its upward momentum, a reversal and returning to trade lower could potentially unfold.

If this scenario was to occur the target for today is 1.3597, which is the pair’s pivot point of today. Following that, the pair could stretch to 1.3530, being the daily Average True Range downside projection.

AUDUSD

http://academy.acfx.com/wp-content/uploads/2015/12/1112AUDUSDH4.png

The intraday technical outlook

AUDUSD has reconfirmed the breach of the uptrend channel this morning.

AUDUSD needs to hold below 0.7278 level, being the intraday Pivot Point if the price action is to continue the downward move.

The initial downside target for this afternoon will be 0.7204, being the Average True Range upside projection of today. Further extend to the previous high of 0.7165 could likely to be seen following that.

If AUDUSD fails to maintain the upside momentum, a retracement higher could potentially unfold.

If this scenario was to occur the target is 0.7278, being the pair’s pivot point of today.

GOLD

http://academy.acfx.com/wp-content/uploads/2015/12/1112GOLDH4.png

The intraday technical outlook

Gold declined lower this morning, bouncing off the newly formed downtrend channel.

The commodity needs to hold below 1072.25 level, being the intraday Pivot Point if the price action is to continue its downward move.

The initial downside target is 1056.31, being the Daily Average True Range (ATR) downside projection level.

If the metal fails to maintain the downward momentum, a reversal and trading higher could potentially unfold.

If this scenario was to occur, the target for today is 1072.25, which is the pivot point of the pair for today. Following that, a move higher to 1075.27, being the commodity’s 1st pivot resistance point and coinciding with the top of the downward trend channel, could occur next.

OIL

http://academy.acfx.com/wp-content/uploads/2015/12/1112OILUSDH4.png

The intraday technical outlook

Oil has reached a new six-year low this morning.

The commodity needs to hold below 38.11 level, being the intraday Pivot Point if the price action is to continue the downward move.

The initial downside target is 36.92, being the Daily Average True Range (ATR) downside projection level.

If the commodity fails to maintain the downside momentum, a reversal and trading higher could potentially unfold.

If this scenario was to occur the target for today is 38.50, being the commodity’s 1st pivot resistance level of today

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Atlas CapitalFx · December 14, 2015

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MARKET BRIEFING – TECHNICAL ANALYSIS 14.12.2015

EURUSD

http://academy.acfx.com/wp-content/uploads/2015/12/1412EURUSDH4.png

The intraday technical outlook

EURUSD has created a new lower high at the end of the last trading session.

EURUSD needs to hold below 1.0978 level being the intraday Pivot Point if the price action is to continue the downward move.

The initial downside target is 1.0926, which is 1st pivot support of the pair. Should this mark be reached successfully, a further extension towards 1.0873 being the Daily Average True Range (ATR) downside projection level, could be observed further.

If EURUSD fails to maintain the downward momentum, a retracement lower could potentially unfold.

If this scenario was to occur the target for today is 1.1030, being the pair’s 1st resistance level of today. In case this scenario will be activated, the pair could prolong its move to 0.1095, which is the Average True Range (ATR) upside projection level of today.

GBPUSD

http://academy.acfx.com/wp-content/uploads/2015/12/1412GBPUSDH4.png

The intraday technical outlook

GBPUSD has bounced off the top of the daily uptrend channel this morning.

GBPUSD needs to hold below 1.5185 level, being the intraday Pivot Point if the price action is to continue its downward move.

The initial downside target is 1.5122, being today’s 1st pivot support together with the Daily Average True Range upside projection level. Should this target to be reached, the extend to 1.5071, which is today’s 2nd pivot support, could take place next.

If GBPUSD fails to maintain the downward momentum, a reversal and trading higher could potentially unfold.

If this scenario was to occur, the target for today will be 1.5215 which is the pair’s 1st intermediate resistance of today, and also coincides with the top of the downward trend channel. Following that, the price could move to 1.5246, being the 1st pivot resistance level of today.

USDJPY

http://academy.acfx.com/wp-content/uploads/2015/12/1412USDJPYH4.png

The intraday technical outlook

USDJPY has bounced off the upper limit of the average Daily Average True Range.

USDJPY needs to break above the 121.25 level, being the intraday Pivot Point in order to hold the uptrend scenario.

The initial upside target is 121.90, which being the pair’s Daily Average True Range upside target. Should this level be reached, a further extension towards 122.90, is the 2nd pivot resistance line, could likely take place next.

If USDJPY fails to maintain the upward momentum, a retracement lower could potentially unfold.

If this scenario was to occur the target for today is 120.21, which is the Daily Average True Range downside target of the pair. In case this scenario will be activated, further extension to 119.60, being the pair’s 2nd support level of today, could occur next.

USDCHF

http://academy.acfx.com/wp-content/uploads/2015/12/1412USDCHFH4.png

The intraday technical outlook

USDCHF is consolidating above the downward trending channel, which the pair breached last Thursday.

USDCHF needs to hold below 0.9841 line being the intraday Pivot Point if the price action is to continue its downward move.

The initial downside target is 0.9784, being the 1st pivot support of today. Should that level be reached, the pair could continue trading towards 0.9726 being the daily Average True Range downside projection level.

If USDCHF fails to maintain downward momentum, a reversal higher could potentially unfold.

If this scenario was to occur the initial upside target for today will be 0.9944, being the Average True Range upside projection of today.

USDCAD

http://academy.acfx.com/wp-content/uploads/2015/12/1412USDCADH4.png

The intraday technical outlook

USDCAD has breached the uptrend channel this morning.

USDCAD needs to hold above 1.3597 level being the intraday Pivot Point if the price action is to continue its downward move.

The initial upside aim is 1.3716, being the Average True Range upside projection of today. Should this mark be reached, it will open the way towards 1.3772, being the pair’s 3rd pivot resistance level of today.

If USDCAD fails to maintain its upward momentum, a reversal and returning to trade lower could potentially unfold.

If this scenario was to occur the target for today is 1.3597, which is the pair’s pivot point of today. Following that, the pair could stretch to 1.3530, being the daily Average True Range downside projection.

AUDUSD

http://academy.acfx.com/wp-content/uploads/2015/12/1412AUDUSDH4.png

The intraday technical outlook

AUDUSD has breached the recently formed uptrend channel this morning.

AUDUSD needs to hold above 0.7215 level, being the intraday Pivot Point if the price action is to continue the upward move.

The initial upside target for this afternoon will be 0.7279, being the Average True Range upside projection of today. Further extend to the previous high of 0.7317, being the 2nd resistance level of today could likely to be seen following.

If AUDUSD fails to maintain the upside momentum, a retracement lower could potentially unfold.

If this scenario was to occur the target is 0.7149, being the pair’s 1st support level of today.

GOLD

http://academy.acfx.com/wp-content/uploads/2015/12/1112GOLDH41.png

The intraday technical outlook

Gold has bounced off the top of the newly created downtrend channel this morning.

The commodity needs to hold below 1071.79 level, being the intraday Pivot Point if the price action is to continue the downward move.

The initial downside target is 1057.59, being the Daily Average True Range (ATR) downside projection level.

If the metal fails to maintain the downward momentum, a reversal and trading higher could potentially unfold.

If this scenario was to occur, the target for today is 1076.76, which is the 1st intermediate pivot point of the pair for today and also coinciding with the top of the downward trend channel. Following that, a move higher to 1081.72, being the commodity’s 1st pivot resistance level, could occur next.

OIL

http://academy.acfx.com/wp-content/uploads/2015/12/1412OILUSDH4.png

The intraday technical outlook

Oil declines to the new lows this morning, the levels last seen since 2009.

The commodity needs to hold below 37.15 level, being the intraday Pivot Point if the price action is to continue the downward move.

The initial downside target is 36.06, which is the 1st pivot support level of today. Should that target be reached, a following move to 35.42, being the Daily Average True Range (ATR) downside projection level, could follow next.

If the commodity fails to maintain the downside momentum, a reversal and trading higher could potentially unfold.

If this scenario was to occur the target for today is 37.79, being the commodity’s 1st pivot resistance level of today.

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Atlas CapitalFx · December 15, 2015

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MARKET BRIEFING – TECHNICAL ANALYSIS 15.12.2015

EURUSD

http://academy.acfx.com/wp-content/uploads/2015/12/1512EURUSDH4.png

The intraday technical outlook

EURUSD is slowing down ahead of tomorrow’s FOMC statement

EURUSD needs to hold above 1.0994 level being the intraday Pivot Point if the price action is to continue the upward move.

The initial upside target is 1.1103, being the Daily Average True Range (ATR) upside projection level. Should this mark be reached successfully, a further extension towards 1.1146, which is 3rd pivot resistance of the pair, could be observed further.

If EURUSD fails to maintain the upward momentum, a retracement lower could potentially unfold.

If this scenario was to occur the target for today is 1.0940, being the pair’s 1st support level of today and also coinciding with the bottom of the uptrend channel. In case this scenario will be activated, the pair could prolong its move to 0.0881, which is the Daily Average True Range (ATR) downside projection level.

GBPUSD

http://academy.acfx.com/wp-content/uploads/2015/12/1512GBPUSDH4.png

The intraday technical outlook

GBPUSD has bounced off the top of the daily uptrend channel yesterday, continuing with a move lower this morning.

GBPUSD needs to hold below 1.5158 level, being the intraday Pivot Point if the price action is to continue its downward move.

The initial downside target is 1.5087, being today’s 1st pivot support. Should this target to be reached, the extend to 1.5029, which is today’s 2nd pivot support together with the Daily Average True Range downside projection level, could take place next.

If GBPUSD fails to maintain the downward momentum, a reversal and trading higher could potentially unfold.

If this scenario was to occur, the target for today will be 1.5210 which is the pair’s 1st resistance of today, and also coincides with the top of the downward trend channel. Following that, the price could move to 1.5251, being the Daily Average True Range upside projection level of today.

USDJPY

http://academy.acfx.com/wp-content/uploads/2015/12/1512USDJPYH4.png

The intraday technical outlook

USDJPY is consolidating at six-week low this morning.

USDJPY needs to hold above the 121.25 level, being the intraday Pivot Point in order to continue the uptrend scenario.

The initial upside target is 121.47, which is the pair’s 1st resistance level of today. Should this level be reached, a further extension towards 121.86, being the pair’s Daily Average True Range upside target and also 2nd pivot resistance line, could likely take place next.

If USDJPY fails to maintain the upward momentum, a retracement lower could potentially unfold.

If this scenario was to occur the target for today is 120.45, which is the Daily Average True Range downside projection of the pair. In case this scenario will be activated, further extension to 119.89, being the pair’s 2nd support level of today, could occur next.

USDCHF

http://academy.acfx.com/wp-content/uploads/2015/12/1512USDCHFH4.png

The intraday technical outlook

USDCHF continue to consolidate, after it breached the downward channel last week.

USDCHF needs to hold above 0.9841 line being the intraday Pivot Point if the price action is to continue its upward move.

The initial upside target is 0.9885, being the 1st pivot resistance of today. Should that level be reached, the pair could continue trading towards 0.9950 being the daily Average True Range upside projection level of today.

If USDCHF fails to maintain upward momentum, a reversal lower could potentially unfold.

If this scenario was to occur the initial downside target for today will be 0.9736, being the Average True Range downside projection of today.

USDCAD

http://academy.acfx.com/wp-content/uploads/2015/12/1512USDCADH4.png

The intraday technical outlook

USDCAD is retesting to return trading within the limits of the uptrend channel this morning.

USDCAD needs to hold below 1.3729 level being the intraday Pivot Point if the price action is to continue its downward move.

The initial downside aim is 1.3716, being the Average True Range downside projection of today. Should this mark be reached, it will open the way towards 1.3573, being the pair’s 3rd pivot support level of today.

If USDCAD fails to maintain its downward momentum, a reversal and returning to trade higher could potentially unfold.

If this scenario was to occur the target for today is 1.3782, which is the pair’s 1st pivot resistance of today and also coincides with the pair’s eleven-year high. Following that, the pair could stretch to 1.3831, being the daily Average True Range upside projection.

AUDUSD

http://academy.acfx.com/wp-content/uploads/2015/12/1512AUDUSDH4.png

The intraday technical outlook

AUDUSD is returning to retest the top of the recently formed downtrend channel.

AUDUSD needs to hold above 0.7226level, being the intraday Pivot Point if the price action is to continue the upward move.

The initial upside target for this afternoon will be 0.7287, being the 1st resistance level of today. An additional extend to 0.7323, the Average True Range upside projection of today, could likely to be seen following.

If AUDUSD fails to maintain the upside momentum, a retracement lower could potentially unfold.

If this scenario was to occur the target is 0.7176, being the pair’s 1st support level of today, which also approximately coincides with the Average True Range downside projection level.

GOLD

http://academy.acfx.com/wp-content/uploads/2015/12/1512GOLDH4.png

The intraday technical outlook

Gold has shot higher this morning, after the metal once again reached two-week low in the overnight trade.

The commodity needs to hold above 1065.28 level, being the intraday Pivot Point if the price action is to continue the upward move.

The initial upside target is 1072.00, which is the pairs 1st pivot resistance level of today. Should this aim be reached, Gold could extend towards 1075.45, being the Daily Average True Range (ATR) upside projection level.

If the metal fails to maintain the upward momentum, a reversal and trading lower could potentially unfold.

If this scenario was to occur, the target for today is 1053.20, which is the 1st pivot support of the pair for today. Following that, a move lower to 1046.49, being the commodity’s 2nd support level, could occur next.

OIL

http://academy.acfx.com/wp-content/uploads/2015/12/1512OILUSDH4.png

The intraday technical outlook

Oil is recovering this morning after it reached new 2009 lows during the previous trading session.

The commodity needs to hold above 37.03 level, being the intraday Pivot Point if the price action is to continue the upward move.

The initial upside target is 38.92, being the Daily Average True Range (ATR) upside projection level. Should that target be reached, a move to 40.03, being the 3rd pivot resistance level could follow next.

If the commodity fails to maintain the downside momentum, a reversal and trading lower could potentially unfold.

If this scenario was to occur the target for today is 37.03, being the commodity’s pivot point of today.

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Atlas CapitalFx · December 18, 2015

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MARKET BRIEFING – TECHNICAL ANALYSIS 18.12.2015

EURUSD

http://academy.acfx.com/wp-content/uploads/2015/12/EURUSDH118122015ny.png

The intraday technical outlook

EURUSD, Thursday continued to sell off following a well-received Federal Reserve announcement that it was increasing interest rates.

This morning, the EURUSD has bounced off the 1.0800 which coincided with a prior weekly pivot level.

Although EURUSD did appreciate for most of the morning the rally could not be sustained and the price action threatens once again to test the 1.0800 during the New York session.

If the 1.0800 level is breached, the initial downside target is 1.0700 which corresponds to today’s ATR downside projection.

Alternatively, a bounce off the 1.0800 could see EURUSD test the 1.0900 resistance level and the 1.0950 which corresponds to today’s ATR upside projection.

This morning’s line of control was calculated to be at the 1.1015 level. However due to the developing price action, a breach of the 1.0870 which is the most recent swing high would be sufficient to change the trend from down to up. Such a move would also signal a break of the current three-day downward sloping channel.

GBPUSD

http://academy.acfx.com/wp-content/uploads/2015/12/GBPUSDH118122015ny.png

The intraday technical outlook

GBPUSD, Thursday continued to sell off following a well-received Federal Reserve announcement that it was increasing interest rates.

This morning, the GBPUSD has traded with a slight upward bias but has been unable to make a sustained break away from its opening range.

If GBPUSD does trade higher during the afternoon session, the initial target is the 1.5000 level and then the 1.5025 which corresponds to today’s ATR upside projection.

A breach of the 1.5015 level would also signal a change of the one hour trend from down to up.

However, as the price action is contained within a large, downward sloping channel, there is a strong possibility that any rally will be short-lived?

Alternatively, a failure to sustain high prints could see GBPUSD test the 1.4900, 1.4850, 1.4800 and the 1.4775 levels. The latter level corresponding to today’s ATR downside projection.

USDJPY

http://academy.acfx.com/wp-content/uploads/2015/12/USDJPYH118122015ny.png

The intraday technical outlook

USDJPY, Thursday has experienced a volatile trade as the market digests conflicting news from the Bank of Japan.

USDJPY initially attempted to break up from its opening range. However, this move could not be sustained as the rally fell short of the 123.55 level which corresponds to today’s ATR upside projection.

The price action has subsequently traded lower as USDJPY broke down from its opening range and within a few hours breached both the 121.55 and 121.35 levels.

As the latter level corresponds to today’s line of control the trend has change from up to down.

However, after such an aggressive move lower the possibility of USDJPY experiencing a corrective bounce as traders square up positions and take profits before the commencement of the weekend should not be discounted.

USDCHF

http://academy.acfx.com/wp-content/uploads/2015/12/USDCHFH118122015ny.png

The intraday technical outlook

USDCHF, Thursday had initially traded lower in a corrective fashion.

However, subsequently, USDCHF has bounced off support and traded slightly higher.

As the price action continues to be encompassed within a large up channel there is potential that USDCHF trades higher during the afternoon session.

The initial upside target is the 1.0075 which corresponds to today’s ATR upside projection.

Alternatively, a breach of the channel bottom and the 0.9915 line of control could see USDCHF attempt to test the 0.9845 level which corresponds to today’s ATR downside projection.

USDCAD

http://academy.acfx.com/wp-content/uploads/2015/12/USDCADH118122015ny.png

The intraday technical outlook

USDCAD, Thursday has traded sideways and within the opening range.

However, over the past two hours, USDCAD has appreciated as the market awaits Canadian CPI and Wholesale Sales data.

A continuation of the move higher could see USDCAD test the 1.4050 level which corresponds to today’s ATR upside projection.

Alternatively, a breakdown from the opening range could see USDCAD test the 1.3825 level which corresponds to today’s ATR downside projection.

AUDUSD

http://academy.acfx.com/wp-content/uploads/2015/12/AUDUSDH118122015ny.png

The intraday technical outlook

AUDUSD, Thursday has traded higher with the price action having bounced off the 0.7100 prior monthly pivot level.

A continuation of the move higher could see AUDUSD test the 0.7220 level which corresponds to today’s ATR upside projection.

Alternatively, a breakdown from the opening range could see AUDUSD test the 0.7100 and then the 0.7030 level which corresponds to today’s ATR downside projection.

GOLD

http://academy.acfx.com/wp-content/uploads/2015/12/18122015ny.png

The intraday technical outlook

Gold, Thursday has traded higher with the price action having found support at the 1047.00 level,

A continuation of the move higher could see Gold test the 1068.00 level which corresponds to today’s ATR upside projection.

Alternatively, a breakdown from the opening range could see Gold test the 1035.00 level which corresponds to today’s ATR downside projection.

OIL

http://academy.acfx.com/wp-content/uploads/2015/12/OILUSDH118122015ny.png

The intraday technical outlook

Oil, Thursday initially trade higher. However, during the past two hours, sellers have come back into the market.

This has led to Oil breaking down from its opening range.

A continuation of the move lower could see Oil test the 35.50 level which corresponds to today’s ATR downside projection.

Alternatively, a failure to sustain the move lower could see Oil test the 37.15 level which corresponds to today’s line of control.

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Atlas CapitalFx · December 21, 2015

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MARKET BRIEFING – LONDON OPEN 21.12.2015

Less than a year ago, Europe’s leaders were wondering how they would handle the fallout of a Greek general election result that brought to power a political party of the radical left.

What followed was months of intrigue, failed negotiations, demonstrations on the streets of Athens as the Greek Syriza party led by its charismatic leader Prime Minister Alexis Tsipras and his trusted lieutenant in the shape of the combative, yet clear speaking Finance Minister, Mr Yianis Varoufakis battled but ultimately lost their battle with Germany’s iron lady, Chancellor Merkel.

Fast forward to roughly a year and this morning we are trying to come to terms with a general election result that is both important for Spain but also Europe.

According to published election result data, the ruling Partido Popular as expected took the largest share of the vote. However, PP, as it is also known no longer, commands enough elected members of the legislative assembly to allow it to form a majority Government.

There will now follow a scramble to form a new coalition government. The Popular Party as the block with the highest share of the vote and the most members of parliament are going to argue that they should form the next government.

This will be a difficult undertaking as both the new political newcomers, Podemos and Ciudadanos have campaigned on tickets of political renewal and would not want to be associated with past legacy of corruption that has so tainted Spanish politics. Furthermore, Podemos being a political party of the radical left would find it very difficult to share government with the Peoples Party.

As for Ciudadanos, although it is a political party of the centre and middle classes a decision by its leader Albert Rivera would possibly be to shun forming an alliance with the centre-right PP out of fear that this will be seen as a sell out by the electorate who voted for his party.

What the markets and the European Union fears the most is for a coalition of the left to be formed by the traditional socialist PSOE and Podemos. However, the university professor comes political leader Pablo Iglesias Turrion would seem to be a man who is unwilling to compromise his principals.

So what is left is a coalition of the weakened establishment of PP and PSOE. Although this would seem a very unlikely solution, however, such a coalition of national unity was formed in Greece when the conservative New Democracy and the Socialist PASOK buried their differences so as to keep Syriza out of power.

Such a coalition would maintain the establishment grip of Spanish politics and would be welcomed by both the European Union and the markets.

Furthermore, it would be hoped that another term of a PP Government but in this case supported by the PSOE would give the new administration time to push the country back into solid economic and job growth. With Spain back on track, the popularity of Podemos and Ciudadanos would wane.

EURUSD

http://academy.acfx.com/wp-content/uploads/2015/12/EURUSDH121012015.png

The intraday technical outlook

Trend 1 hour: Up

Target 1: 1.0980

Target 2: 1.0725

Projected range in ATR’s: 0.0129

Daily control level: 1.0800

GBPUSD

http://academy.acfx.com/wp-content/uploads/2015/12/GBPUSDH121012015.png

The intraday technical outlook

Trend 1 hour: Down

Target 1: 1.5025

Target 2: 1.4775

Projected range in ATR’s: 0.0126

Daily control level: 1.4950

USDJPY

http://academy.acfx.com/wp-content/uploads/2015/12/USDJPYH121012015.png

The intraday technical outlook

Trend 1 hour: Down

Target 1: 123.30

Target 2: 120.15

Projected range in ATR’s: 1.09

Daily control level: 123.30

USDCHF

http://academy.acfx.com/wp-content/uploads/2015/12/USDCHFH121012015.png

The intraday technical outlook

Trend 1 hour: Up

Target 1: 1.0045

Target 2: 0.9810

Projected range in ATR’s: 0.0118

Daily control level: 0.9795

USDCAD

http://academy.acfx.com/wp-content/uploads/2015/12/USDCADH121012015.png

The intraday technical outlook

Trend 1 hour: Up

Target 1: 1.4050

Target 2: 1.3815

Projected range in ATR’s: 0.0119

Daily control level: 1.3850

AUDUSD

http://academy.acfx.com/wp-content/uploads/2015/12/AUDUSDH121012015.png

The intraday technical outlook

Trend 1 hour: Up

Target 1: 0.7260

Target 2: 0.7075

Projected range in ATR’s: 0.0093

Daily control level: 0.7100

GOLD

http://academy.acfx.com/wp-content/uploads/2015/12/GOLDH121012015.png

The intraday technical outlook

Trend 1 hour: Down

Target 1: 1082.00

Target 2: 1049.00

Projected range in ATR’s: 16.63

Daily control level: 1078.25

OIL

http://academy.acfx.com/wp-content/uploads/2015/12/OILUSDH121012015.png

The intraday technical outlook

Trend 1 hour: Down

Target 1: 37.60

Target 2: 34.30

Projected range in ATR’s: 1.67

Daily control level: 37.15

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Atlas CapitalFx · December 22, 2015

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MARKET BRIEFING – LONDON OPEN 22.12.2015

Yesterday, the price per barrel of Light Sweet Crude continued to drop to new lows. The price of crude has collapsed due to considerable downward pressure being exerted by Saudi Arabia and other OPEC nations.

The downturn in the global economy which has seen both China and the European Union experience contractions has led to the demand of Oil decrease.

The Saudi’s are concerned that production from non-OPEC nations eats away at its market share. Saudi Arabia has two main targets in its sights. The new upstarts being the United States shale producers and the other be oil pumped from the vast Russian fields.

The production of Oil from US shale fields has pumped at a much higher cost than that from crude that is extracted by the Saudi’s. Therefore, Saudi Arabia has effectively used oversupply as a policy tool to curtail the production of shale oil by producers who in many cases have to service high debt burdens.

In the case of targeting Russian production, the benefit for Saudi is twofold. Not only can the Saudi’s draw market share away from Russian producers, but it can also be used as a financial penalty limiting Russia’s involvement in Syria.

Using Oil as a political tool is not something that is new. We had a glimpse of what can be achieved during the Oil crisis of the early 1970’s when OPEC cut off supply to the West in protest against unaligned policy interests.

It would appear that the price of Oil will continue to decline due to reasons outside the control of the Saudi’s.

Iran having come to an accommodation over its nuclear programme is now free to ramp up production. Furthermore, production from Russian fields continues to increase. Finally, the United States has now ended a 40-year ban on the export of Oil.

With the demand of oil not increasing, the only limiting factor to production being ramped up is where will all this excess supply of crude be stored? Refineries are limited to how much crude can be processed and land-based storage is already at full capacity. Therefore, there is a need to begin storing oil offshore within tankers.

With so much pessimism over the downward direction of the price of Oil, one would most probably contemplate levels of US$30, US$25 or even US$20 per barrel. However, moods can sometimes change very quickly.

Searching for clues for when Oil will eventual begin to form a base is not an easy task.

I am however looking at two areas of interest.

EURUSD

http://academy.acfx.com/wp-content/uploads/2015/12/EURUSDH122122015.png

The intraday technical outlook

Trend 1 hour: Up

Target 1: 1.1040

Target 2: 1.0790

Projected range in ATR’s: 0.0128

Daily control level: 1.0845

GBPUSD

http://academy.acfx.com/wp-content/uploads/2015/12/GBPUSDH122122015.png

The intraday technical outlook

Trend 1 hour: Down

Target 1: 1.4995

Target 2: 1.4675

Projected range in ATR’s: 0.0115

Daily control level: 1.4930

USDJPY

http://academy.acfx.com/wp-content/uploads/2015/12/USDJPYH122122015.png

The intraday technical outlook

Trend 1 hour: Down

Target 1: 123.30

Target 2: 120.10

Projected range in ATR’s: 1.06

Daily control level: 121.50

USDCHF

http://academy.acfx.com/wp-content/uploads/2015/12/USDCHFH122122015.png

The intraday technical outlook

Trend 1 hour: Up

Target 1: 1.0035

Target 2: 0.9810

Projected range in ATR’s: 0.0113

Daily control level: 0.9895

USDCAD

http://academy.acfx.com/wp-content/uploads/2015/12/USDCADH122122015.png

The intraday technical outlook

Trend 1 hour: Up

Target 1: 1.4075

Target 2: 1.3840

Projected range in ATR’s: 0.0118

Daily control level: 1.3850

AUDUSD

http://academy.acfx.com/wp-content/uploads/2015/12/AUDUSDH122122015.png

The intraday technical outlook

Trend 1 hour: Up

Target 1: 0.7280

Target 2: 0.7090

Projected range in ATR’s: 0.0094

Daily control level: 0.7110

GOLD

http://academy.acfx.com/wp-content/uploads/2015/12/GOLDH122122015.png

The intraday technical outlook

Trend 1 hour: Up

Target 1: 1094.00

Target 2: 1062.00

Projected range in ATR’s: 16.21

Daily control level: 1066.75

OIL

http://academy.acfx.com/wp-content/uploads/2015/12/OILUSDH122122015.png

The intraday technical outlook

Trend 1 hour: Down

Target 1: 37.60

Target 2: 34.30

Projected range in ATR’s: 1.59

Daily control level: 37.15

Atlas CapitalFx · December 23, 2015

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MARKET BRIEFING – TECHNICAL ANALYSIS 23.12.2015

EURUSD

http://academy.acfx.com/wp-content/uploads/2015/12/EURUSDH123122015ny.png

The intraday technical outlook

EURUSD, Tuesday continued to trade higher as the price action remained within a well-defined but narrow up channel.

This morning, the EURUSD has broken down from its up channel.

The price action did consolidate within an early morning range however the selling pressure returned and EURUSD subsequently traded lower.

If the 1.0900 level is breached, the initial downside target is 1.0850 which corresponds to today’s ATR downside projection.

Alternatively, a bounce off the 1.0900 could see EURUSD test the 1.1050 resistance level and the 1.1055 which corresponds to today’s ATR upside projection.

This morning’s line of control was calculated to be at the 1.090 level. However due to the developing price action, a sustained breach of this will change the trend from up to down.

GBPUSD

http://academy.acfx.com/wp-content/uploads/2015/12/GBPUSDH123122015ny.png

The intraday technical outlook

GBPUSD, Tuesday continued to sell off following worse than expected PSBR number.

This morning, the GBPUSD has traded with a slight upward bias but has been unable to make a sustained break away from its opening range.

If GBPUSD does trade higher during the afternoon session, the initial target is the 1.4900 and then the 1.4930 level. The latter level which corresponds to today’s ATR upside projection.

A breach of the 1.4915 level would also signal a change of the one hour trend from down to up.

However, as the price action is contained within a large, downward sloping channel, there is a strong possibility that any rally will be short-lived?

Alternatively, a failure to sustain higher prints could see GBPUSD test the 1.4800, and the 1.4720 levels. The latter level corresponding to today’s ATR downside projection.

USDJPY

http://academy.acfx.com/wp-content/uploads/2015/12/USDJPYH123122015ny.png

The intraday technical outlook

USDJPY, Tuesday traded with a slight downward bias.

This morning, USDJPY has experienced a very mild bounce with the price action contained within its opening days range.

A continuation of the rally could see USDJPY test the 122.00 and 122.05 resistance levels. The latter level corresponding to the ATR upside projection.

A breach of the 121.50 level would also signal a change of the one hour trend from down to up.

Alternatively, a failure to sustain higher prints could see USDJPY test the 120.05 level which corresponds to today’s ATR downside projection.

USDCHF

http://academy.acfx.com/wp-content/uploads/2015/12/USDCHFH123122015-1.png

The intraday technical outlook

USDCHF, Tuesday had initially traded lower as the price action rejected higher prices following the break of it’s up the channel.

This morning USDCHF has found support at the 0.9850 level and this has enabled this pair to experience a modest rally.

If USDCHF does trade higher during the afternoon session, the initial target is the 0.9950 and then the 0.9960. The latter level corresponds to today’s ATR upside projection.

A breach of the 0.9940 level would also signal a change of the one hour trend from down to up.

Alternatively, a failure to sustain higher prints could see USDCHF test the 0.9850, and the 0.9780 levels. The latter level corresponding to today’s ATR downside projection.

USDCAD

http://academy.acfx.com/wp-content/uploads/2015/12/USDCADH123122015-1.png

The intraday technical outlook

USDCAD, Tuesday traded lower in a corrective fashion.

This morning, USDCAD is trading in a tight opening range as the markets await significant afternoon Canadian data.

If USDCAD does trade lower during the afternoon session, the initial target is the 1.3875 and then the 1.3810. The latter level corresponds to today’s ATR downside projection.

A breach of the 1.3850 level would also signal a change of the one hour trend from up to down.

Alternatively, a failure to sustain lower prints could see USDCAD test the 1.4030 level which corresponds to today’s ATR upside projection.

AUDUSD

http://academy.acfx.com/wp-content/uploads/2015/12/AUDUSDH123122015ny.png

The intraday technical outlook

AUDUSD, Tuesday continued to trade higher following the breach of its down channel.

This morning, the AUDUSD has traded within its opening days range with the price action attempting to breach the overnight lower pivot that can be found at the 0.7220 level.

If AUDUSD does trade lower during the afternoon session, the initial target is the 0.7145 level which corresponds to today’s ATR downside projection.

A sustained breach of the 0.7220 level would also signal a change of the one hour trend from up to down.

Alternatively, a failure to sustain lower prints could see AUDUSD test the 0.7300, and the 0.7325 levels. The latter level corresponding to today’s ATR upside projection.

GOLD

http://academy.acfx.com/wp-content/uploads/2015/12/GOLDH123122015ny.png

The intraday technical outlook

Gold, Tuesday continued to trade lower in a corrective fashion.

This morning, the price action has been contained with a narrow opening range.

If Gold does trade lower during the afternoon session, the initial target is the 1066.75 and then the 1057.00 level. The latter level corresponds to today’s ATR downside projection.

A sustained breach of the 1066.75 level would also signal a change of the one hour trend from up to down.

Alternatively, a failure to sustain lower prints could see Gold test the 1088.0.0 which corresponds to today’s ATR upside projection.

OIL

http://academy.acfx.com/wp-content/uploads/2015/12/OILUSDH123122015ny.png

The intraday technical outlook

Oil, Tuesday continued to trade higher following a bounce off the 35.50 level.

This morning, the Oil has traded within its opening days range and is now testing the upper level of its down channel.

If Oil does trade higher during the afternoon session, the initial target is the 38.1 5level which corresponds to today’s ATR upside projection.

Alternatively, a failure to sustain higher prints could see Oil test the 35.80 and the 35.15 levels. The latter level corresponding to today’s ATR downside projection.

A sustained breach of the 35.80 level would also signal a change of the one hour trend from up to down.

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Atlas CapitalFx · December 24, 2015

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MARKET BRIEFING – TECHNICAL ANALYSIS 24.12.2015

EURUSD

http://academy.acfx.com/wp-content/uploads/2015/12/EURUSDH124122015ny.png

The intraday technical outlook

EURUSD, Wednesday traded lower for most of the session as the price action broke under the 1.0900 support level.

However. EURUSD was not able to continue with the bearish momentum as buyers came in and supported this pair around the 1.0870 congestion area.

This morning, the EURUSD has continued to trade higher and has broken above its early morning range.

If the 1.0985 level is breached, the initial upside target is 1.1010 which corresponds to today’s ATR upside projection.

Alternatively, a retest of the 1.0900 level could see EURUSD trade down to the 1.0810 level which corresponds to today’s ATR downside projection.

This morning’s line of control was calculated to be at the 1.0985 level.

GBPUSD

http://academy.acfx.com/wp-content/uploads/2015/12/GBPUSDH124122015ny.png

The intraday technical outlook

GBPUSD, Wednesday traded higher for most of the session as the price action broke through the 1.4850 resistance level.

However, GBPUSD advance was stalled at the 1.4900 resistance level.

This morning, the GBPUSD had initially traded within its opening range but has subsequently made an attempt to break higher.

The 1.4900 resistance level thus far, however, has proven to be a strong barrier for further advances.

If GBPUSD does trade higher during the afternoon session, the initial target is the 1.4975 and then the 1.5000 level. The former level which corresponds to today’s ATR upside projection.

A sustained breach of the 1.4900 level would also signal a change of the one hour trend from down to up.

However, as the price action is contained within a large, downward sloping channel, there is a strong possibility that any rally will be short-lived?

Alternatively, a failure to sustain higher prints could see GBPUSD test the 1.4850, and the 1.4765 levels. The latter level corresponding to today’s ATR downside projection.

USDJPY

http://academy.acfx.com/wp-content/uploads/2015/12/USDJPYH124122015ny.png

The intraday technical outlook

USDJPY, Wednesday traded in sideways to lower fashion for most of the session.

This morning, USDJPY has broken down from its opening days range.

A continuation of the decline could see USDJPY test the 119.90 support level. This level corresponds to the ATR downside projection.

Alternatively, a failure to sustain lower prints could see USDJPY test the 121.15 level which corresponds to today’s ATR downside projection.

A breach of the 121.15 level would also signal a change of the one hour trend from down to up.

USDCHF

http://academy.acfx.com/wp-content/uploads/2015/12/USDCHFH124122015ny.png

The intraday technical outlook

USDCHF, Wednesday traded higher for most of the day.

However into the Asian session, strong selling came into the market.

This morning USDCHF has experienced a strong decline as the price action broke down from its opening range and is no testing the lows of yesterday.

If USDCHF does continue to trade lower during the afternoon session, the initial target is 0.9855 followed by the 0.9810. The latter level corresponds to today’s ATR downside projection.

A breach of the 0.9855 level would also signal a change of the one hour trend from up to down.

Alternatively, a failure to sustain lower prints could see USDCHF test the 0.9950, and the 0.9990 levels. The latter level corresponding to today’s ATR upside projection.

USDCAD

http://academy.acfx.com/wp-content/uploads/2015/12/USDCADH124122015ny.png

The intraday technical outlook

USDCAD, Wednesday experienced strong selloff.

This morning, USDCAD is trading in a tight opening range.

If USDCAD does trade lower during the afternoon session, the initial target is the 1.3800 and then the 1.3735. The latter level corresponds to today’s ATR downside projection.

Alternatively, a failure to sustain lower prints could see USDCAD test the 1.3960 level which corresponds to today’s ATR upside projection.

A breach of the 1.3940 level would also signal a change of the one hour trend from down to up.

AUDUSD

http://academy.acfx.com/wp-content/uploads/2015/12/AUDUSDH124122015ny.png

The intraday technical outlook

AUDUSD, Wednesday traded in a sideways manner following the breach of its down channel.

This morning, the AUDUSD has traded higher as the price action breaks above its opening range.

If AUDUSD does trade higher during the afternoon session, the initial target is the 0.7315 level which corresponds to today’s ATR upside projection.

Alternatively, a failure to sustain higher prints could see AUDUSD test the 0.7205, and the 0.7140 levels. The latter level corresponding to today’s ATR upside projection.

A sustained breach of the 0.7205 level would also signal a change of the one hour trend from up to down.

GOLD

http://academy.acfx.com/wp-content/uploads/2015/12/GOLDH124122015ny.png

The intraday technical outlook

Gold, Wednesday continued to trade lower.

This morning, the price action has traded within the opening days range.

If Gold does trade higher during the afternoon session, the initial target is the 1075.40 and then the 1083.00 level. The latter level corresponds to today’s ATR upside projection.

Alternatively, a failure to sustain higher prints could see Gold test the 1086.00 which corresponds to today’s ATR downside projection.

A sustained breach of the 1075.40 level would also signal a change of the one hour trend from down to up.

OIL

http://academy.acfx.com/wp-content/uploads/2015/12/OILUSDH124122015ny.png

The intraday technical outlook

Oil, Wednesday traded higher for the entire session.

This morning, the price action has traded within the opening days range.

If Oil does trade higher during the afternoon session, the initial target is the 39.50 level which corresponds to today’s ATR upside projection.

Alternatively, a failure to sustain higher prints could see Oil test the 36.65 and the 35.85 levels. The latter level corresponding to today’s ATR downside projection.

A sustained breach of the 35.85 level would also signal a change of the one hour trend from up to down.

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Atlas CapitalFx · December 25, 2015