Atlas CapitalFx Posted March 27, 2014 Author Report Share Posted March 27, 2014 Daily Technical Analysis 27th March 2014  EURUSD http://i1340.photobucket.com/albums/o726/acfx2/27032014/eurusddaily_zps3b6d42f2.png Summary Wednesday EURUSD traded between and the 8 and 34 period daily moving averages as the price action consolidates within a tight range.  Market overview EURUSD continues to trade in a daily uptrend following the breach of the 1.3741 level being the 24th January swing. This price action has put the daily time frame in gear with the positive weekly trend.  Focus on today This morning EURUSD has opened quietly as it trades within the previous five days range.  I am this morning monitoring the price action for a potential move higher and a test of 8 period moving averages. Alternatively if EURUSD fails to sustain higher prices there is a possibility that EURUSD breach the 34 period moving averages.    GBPUSD http://i1340.photobucket.com/albums/o726/acfx2/27032014/gbpusddaily_zps5cc99a20.png Summary Wednesday GBPUSD tested and close above the 1.6570 level but was not able to sustain a move above the prior broken up trend line. Market overview GBPUSD has traded above the 1.6668 being the prior isolated pivot high. This price activity has effectively changed the daily trend to up and puts it in line with the bullish weekly outlook. However the breach the 1.6639 level being the recent daily pivot low has added a question mark to the overall health of the uptrend. Furthermore breaches of moving average, horizontal and trend line support is adding to the downside pressure. However GBPUSD is now bouncing higher off Fibonacci support which and this could possily signal an to the current downside correction.  Focus on today This morning GBPUSD has opened quietly as the price action trades at the highs of yesterday’s candle.  I am today monitoring the price action for a test of the upward sloping trend line and the 34 period daily moving averages. Alternatively if GBPUSD cannot sustain higher prices could see the price action test the 61.8 Fibonacci level.    USDJPY http://i1340.photobucket.com/albums/o726/acfx2/27032014/usdjpydaily_zpseadff608.png Summary Wednesday USDJPY experienced a small range day as it continued to trade at the highs to the recent up spike in prices. Market overview The breach of the 102.83 level being the swing high of the 21st February has effectively changed the daily trend to up and therefore putting this time frame into gear with the bullish weekly time frame. The recent price action is now indicating that the 101.00 support level is likely to hold. However a breach of the 101.19 level being the 4th March swing low would technically change the daily trend to down and this would be in line with the formation of a bearish head and shoulders pattern. Focus on today This morning USDJPY initially opened negatively as the price action tested the 101.70 level but has since reversed the morning losses. Today I am monitoring a potential test of the 103.00 level. Alternatively a failure to sustain higher prices could see USDJPY re-test the 101.70 level.   USDCHF http://i1340.photobucket.com/albums/o726/acfx2/27032014/usdchfdaily_zps93d8cb05.png Summary Wednesday USDCHF once again tested but could not sustain a close above the 34 period daily moving averages.  Market overview USDCHF continues to trade in a negative daily and weekly swing bias but the recent price action is beginning to take on a bullish feel to it. I am therefore monitoring signs for a base to built that will allow for further upside at least to the downward sloping trend line. However the bias does continue to be fixed to the downside therefore shorting rallies is still probably the most logical strategy to adopt. Focus on today This morning USDCHF has opened quietly as the price action trades within the previous day’s range. Today I am monitoring the price action for a retest of the 34 period moving averages.  Alternatively a failure to sustain higher prices could see USDCHF trade back to the 8 period moving averages.    Gold http://i1340.photobucket.com/albums/o726/acfx2/27032014/golddaily_zpsc691f4b9.png Summary Wednesday Gold tested and closed under the 1310.00 support level. Market overview Gold continues to trade in a daily uptrend following the breach of the 1267.99 level being the swing high of the 10th December. The break above the large downward sloping trend line adds impetus to the current positive swing bias. Furthermore we have witnessed a large multi month double bottom forming which could indicate a large upside trend reversal is a possibility. However the weekly time frame continues to point down. That the recent rejection of higher prices has come off a bounce from a downward sloping trend line and Fibonacci resistance level could indicate that the recent rally in Gold is part of a bigger cycle correction that ultimately sends Gold lower.  Focus on today This morning Gold has opened quietly as the price within the previous days candle range and below the 1310.00 support level. Today I am monitoring the price action for a continuation of yesterday’s downside momentum. Alternatively a failure to sustain lower prices could see Gold test the 1310.00 level.   Oil http://i1340.photobucket.com/albums/o726/acfx2/27032014/wtidaily_zps45407c0d.png Summary Wednesday Oil tested and closed above the 100 level. Market overview Oil continues to trade in a daily uptrend following the breach of the 100.72 level being the swing high of the 24th December. The daily and weekly times both have a positive bias. The recent price activity has seen Oil trade down to an area of Fibonacci support which could potentially offer a buying opportunities. Focus on today This morning Oil has opened positively with the price action trading at the highs of yesterday’s candle range. Today I am monitoring the price action for a test of the 34 period moving averages, Alternatively a failure to sustain higher prices could see Oil trade under the 100 level and test the 8 period daily moving averages.    AUDUSD http://i1340.photobucket.com/albums/o726/acfx2/27032014/audusddaily_zps01a9e427.png Summary Wednesday AUDUSD continued to trade higher and closed withing the 50 to 61.8 Fibonacci resistance area.  Market overview AUDUSD has been trading in a daily uptrend following the breach of the 0.9080 level being the swing high of the 18th February. However the weekly chart continues to trade in a weekly down trend with the price action now trading into the Fibonacci resistance area. That AUDUSD has formed a large inverse head and shoulders pattern it will be interesting to see if either this pattern trades to its upside target which comes in at the 0.9535 level of if Fibonacci resistance will offer a strong barrier to further upside momentum. Focus on today This morning AUDUSD has positivley as the price action trades above the highs of yesterday’s range. I am this morning monitoring the price action for a potential continuation of the move higher. Alternatively if AUDUSD fails to sustain higher prices there is a possibility that AUDUSD trades back to the 8 period daily moving averages.    Dow30 http://i1340.photobucket.com/albums/o726/acfx2/27032014/ws30daily_zpsf09f0768.png Summary Wednesday Dow30 traded higher as it above last weeks high. Higher the price action was not able to sustain itself above this level and eventually closed just under the 8 period daily moving averages.  Market overview Dow30 has been trading in a daily down trend following the breach of the 015664 level being the swing low pivot of the 26th December. However the weekly chart continues to trade in a weekly up trend. Focus on today This morning Dow30 hasopened positivley as the price action trades at the lows of yesterday’s range.  I am this morning monitoring the price action for a potential re-test of the 16447 level being last week’s high. Alternatively if Dow30 fails to sustain higher prices there is a possibility that Dow30 tests the 34 period moving averages. Quote Link to comment Share on other sites More sharing options...
Atlas CapitalFx Posted March 30, 2014 Author Report Share Posted March 30, 2014 Daily Technical Analysis 28th March 2014    EURUSD http://i1340.photobucket.com/albums/o726/acfx2/28032014/eurusddaily_zpsf10af3f1.png  Summary Thursday EURUSD broke down fron the congestion area that was framed by the 8 and 34 period daily moving averages and traded down to the 50% Fibonacci support area.  Market overview EURUSD continues to trade in a daily uptrend following the breach of the 1.3741 level being the 24th January swing. This price action has put the daily time frame in gear with the positive weekly trend. However there has been a recent strong correction which has had the effect of creating a bearish head and shoulders pattern that is marked by the ellipse. A break beneath the right shoulder could see EURUSD trade down to trend line support. Focus on today This morning EURUSD has opened quietly as it trades at the bottom of the previous days range. I am this morning monitoring the price action for a potential test of yesterdays low and move to the 1.3670 support level. Alternatively if EURUSD fails to sustain lower prices there is a possibility that this pair trades back to its averages.   GBPUSD http://i1340.photobucket.com/albums/o726/acfx2/28032014/gbpusddaily_zps1d740d3d.png Summary Thursday GBPUSD succesfully tested and closed above the above the prior broken up trend line. Market overview GBPUSD has traded above the 1.6668 being the prior isolated pivot high. This price activity has effectively changed the daily trend to up and puts it in line with the bullish weekly outlook. More recently GBPUSD has experienced a strong downside correction and this has had the effect of creating a large converging triangle consolidation pattern. As GBPUSD has bow bounced off Fibonacci support and with the weekly trend pointing up I would expect this triangle pattern when it breaks to trade higher.  Focus on today This morning GBPUSD has opened quietly as the price action trades at the highs of yesterday’s candle.  I am today monitoring the price action for a test of 34 period daily moving averages and move in the direction of the 1.6700 resistance level. Alternatively if GBPUSD cannot sustain higher prices could see the price action test the 1.6570 support level.    USDJPY http://i1340.photobucket.com/albums/o726/acfx2/28032014/usdjpydaily_zpsabe6a046.png Summary Thursday USDJPY tested both the highs and lows of this weeks range as it trades around its averages. Market overview The breach of the 102.83 level being the swing high of the 21st February has effectively changed the daily trend to up and therefore putting this time frame into gear with the bullish weekly time frame. The recent price action is now indicating that the 101.00 support level is likely to hold. However a breach of the 101.19 level being the 4th March swing low would technically change the daily trend to down and this would be in line with the formation of a bearish head and shoulders pattern which is marked by the ellipse. Focus on today This morning USDJPY has opened quietly as the price action trades within the range of the previous 6 days trading. Today I am monitoring a potential test of the 103.00 level. Alternatively a failure to sustain higher prices could see USDJPY re-test the 101.70 level.   USDCHF http://i1340.photobucket.com/albums/o726/acfx2/28032014/usdchfdaily_zpsdaa009e9.png Summary Thursday USDCHF broke and closed above the 34 period daily moving averages.  Market overview USDCHF continues to trade in a negative daily and weekly swing bias but the recent price action is beginning to take on a bullish feel to it. I am therefore monitoring signs for a base to be built that will allow for further upside move and a test of the downward sloping trend line. The bullish inverse head and shoulders pattern that is forming puts the price pattern in line with this hypothesis. However daily and weekly bias does continue to be fixed to the downside therefore shorting rallies is still probably the most logical strategy to adopt. Focus on today This morning USDCHF has opened positively as it tests the highs of this week’s range.  Today I am monitoring the price action for a move to Fibonacci resistance. Alternatively a failure to sustain higher prices could see USDCHF trade back to its averages.    Gold http://i1340.photobucket.com/albums/o726/acfx2/28032014/golddaily_zps2706ed42.png Summary Thursday Gold continued to with its downside momentun following the breach of the 1310.00 support level. Market overview Gold continues to trade in a daily uptrend following the breach of the 1267.99 level being the swing high of the 10th December. The break above the large downward sloping trend line adds impetus to the current positive swing bias. Furthermore we have witnessed a large multi month double bottom forming which could indicate a large upside trend reversal is a possibility.  However the weekly time frame continues to point down. That the recent rejection of higher prices has come off a bounce from a downward sloping trend line and Fibonacci resistance level could indicate that the recent rally in Gold is part of a bigger cycle correction that ultimately sends Gold lower.  That Gold has experienced a strong daily time frame correction has pushed the price action towards Fibonacci support and the ability or not of Fibonacci support to push Gold higher will give an indication if the bullish daily up trend or the bearish weekly down trend will win this current battle. Focus on today This morning Gold has opened quietly as the price within the previous days candle range and below the 1310.00 support level. Today I am monitoring the price action for a continuation of yesterday’s downside momentum and a move to the 0.618 Fibonacci support area. Alternatively a failure to sustain lower prices could see Gold test the 1310.00 level.   Oil http://i1340.photobucket.com/albums/o726/acfx2/28032014/wtidaily_zpsd0fce43e.png Summary Thursday Oil continued to trade higher following its succesful test the 100 level and followed this with a break and close above the 34 period daily moving averages. Market overview Oil continues to trade in a daily uptrend following the breach of the 100.72 level being the swing high of the 24th December. The daily and weekly times both have a positive bias. The recent price activity has seen the price action perform a text book move by trading down to Fibonacci support and from there bouncing higher. Focus on today This morning Oil has opened positively with the price action trading at the highs of yesterday’s candle range. Today I am monitoring the price action for a test of the 103.00 resistance level. Alternatively a failure to sustain higher prices could see Oil trade under the 100 level and test the 8 period daily moving averages.   AUDUSD http://i1340.photobucket.com/albums/o726/acfx2/28032014/audusddaily_zps264c42af.png Summary Thursday AUDUSD continued to trade higher and closed withing the 50 to 61.8 Fibonacci resistance area.  Market overview AUDUSD has been trading in a daily uptrend following the breach of the 0.9080 level being the swing high of the 18th February. However the weekly chart continues to trade in a weekly down trend with the price action now trading into the Fibonacci resistance area. That AUDUSD has formed a large inverse head and shoulders pattern it will be interesting to see if either this pattern trades to its upside target which comes in at the 0.9535 level of if Fibonacci resistance will offer a strong barrier to further upside momentum. Focus on today This morning AUDUSD has opened positivley as the price action trades above the highs of yesterday’s range. I am this morning monitoring the price action for a potential continuation of the move higher. Alternatively if AUDUSD fails to sustain higher prices there is a possibility that AUDUSD trades back to the 8 period daily moving averages.    Dow30 http://i1340.photobucket.com/albums/o726/acfx2/28032014/ws30daily_zps82f32b91.png Summary Thursday Dow30 traded down to its averages where it spen the majority of the day.  Market overview Dow30 has been trading in a daily down trend following the breach of the 15664 level being the swing low pivot of the 26th December. However the weekly chart continues to trade in a weekly up trend. Focus on today This morning Dow30 hasopened quietly as the price action trades within yesterday’s range.  I am this morning monitoring the price action for a potential re-test of the 16447 level being last week’s high. Alternatively if Dow30 fails to sustain higher prices there is a possibility that Dow30 tests the 16175 level. Quote Link to comment Share on other sites More sharing options...
Atlas CapitalFx Posted March 31, 2014 Author Report Share Posted March 31, 2014 Daily Technical Analysis 31st March 2014    EURUSD http://i1340.photobucket.com/albums/o726/acfx2/31032014/eurusddaily_zps78b18f21.png Summary Friday EURUSD attempted to trade into the 50 to 61.8% Fibonacci support only for buying to come into the market. By the end of business EURUSD closed up on the day.  Market overview EURUSD continues to trade in a daily uptrend following the breach of the 1.3741 level being the 24th January swing. This price action has put the daily time frame in gear with the positive weekly trend. However there has been a recent strong correction which has had the effect of creating a bearish head and shoulders pattern that is marked by the ellipse. A break beneath the right shoulder could see EURUSD trade down to trend line support. Focus on today This morning EURUSD has opened quietly as it trades within the previous days range. I am this morning monitoring the price action for a potential test of the 1.3670 support level. Alternatively if EURUSD fails to sustain lower prices there is a possibility that this pair trades back to its averages.   GBPUSD http://i1340.photobucket.com/albums/o726/acfx2/31032014/gbpusddaily_zps5bbe8430.png Summary Friday GBPUSD continued to trade above the above the prior broken up trend line. Market overview GBPUSD has traded above the 1.6668 being the prior isolated pivot high. This price activity has effectively changed the daily trend to up and puts it in line with the bullish weekly outlook. More recently GBPUSD has experienced a strong downside correction and this has had the effect of creating a large converging triangle consolidation pattern. As GBPUSD has bow bounced off Fibonacci support and with the weekly trend pointing up I would expect this triangle pattern when it breaks to trade higher.  Focus on today This morning GBPUSD has opened quietly as the price action trades at the highs of the recent up move. I am today monitoring the price action for a test of 34 period daily moving averages and move in the direction of the 1.6700 resistance level. Alternatively if GBPUSD cannot sustain higher prices could see the price action test the 1.6570 support level.    USDJPY http://i1340.photobucket.com/albums/o726/acfx2/31032014/usdjpydaily_zpsa9d04333.png Summary Friday USDJPY broke higher from its recent congrestion area and tested but did not break above the 103.00 resistance level.  Market overview The breach of the 102.83 level being the swing high of the 21st February has effectively changed the daily trend to up and therefore putting this time frame into gear with the bullish weekly time frame. The recent price action is now indicating that the 101.00 support level is likely to hold. This is being confirmed by failure of the head and shoulders pattern to break lower. Focus on today This morning USDJPY has opened quietly as the price action trades at the highs Friday’s range. Today I am monitoring a potential test of the 103.00 level. Alternatively a failure to sustain higher prices could see USDJPY trade down to its averages.   USDCHF http://i1340.photobucket.com/albums/o726/acfx2/31032014/usdchfdaily_zps83578df7.png Summary Friday USDCHF attempted to break higher only for sellers to come into the market.  Market overview USDCHF continues to trade in a negative daily and weekly swing bias but the recent price action is beginning to take on a bullish feel to it. I am therefore monitoring signs for a base to be built that will allow for further upside move and a test of the downward sloping trend line. The bullish inverse head and shoulders pattern that is forming puts the price pattern in line with this hypothesis. However daily and weekly bias does continue to be fixed to the downside therefore shorting rallies is still probably the most logical strategy to adopt. Focus on today This morning USDCHF has opened positively as within Friday’s candle range.  Today I am monitoring the price action for a move to Fibonacci resistance. Alternatively a failure to sustain higher prices could see USDCHF trade back to its averages.     Gold http://i1340.photobucket.com/albums/o726/acfx2/31032014/golddaily_zps7a138ce8.png Summary Friday Gold traded lower only for it to bounce off the 50% Fibonacci level and close higher. Market overview Gold continues to trade in a daily uptrend following the breach of the 1267.99 level being the swing high of the 10th December. The break above the large downward sloping trend line adds impetus to the current positive swing bias. Furthermore we have witnessed a large multi month double bottom forming which could indicate a large upside trend reversal is a possibility.  However the weekly time frame continues to point down. That the recent rejection of higher prices has come off a bounce from a downward sloping trend line and Fibonacci resistance level could indicate that the recent rally in Gold is part of a bigger cycle correction that ultimately sends Gold lower.  That Gold has experienced a strong daily time frame correction has pushed the price action towards Fibonacci support and the ability or not of Fibonacci support to push Gold higher will give an indication if the bullish daily up trend or the bearish weekly down trend will win this current battle. Focus on today This morning Gold has opened quietly as the price within the previous days candle range. Today I am monitoring the price action for Gold to test the 1310.00 level.  Alternatively a failure to sustain higher prices could see Gold trade down to the 0.618 Fibonacci support area.   Oil http://i1340.photobucket.com/albums/o726/acfx2/31032014/wtidaily_zpsabae3aa8.png Summary Friday Oil continued to trade higher following its succesful test the 100 level and close above the 34 period daily moving averages. Market overview Oil continues to trade in a daily uptrend following the breach of the 100.72 level being the swing high of the 24th December. The daily and weekly times both have a positive bias. The recent price activity has seen the price action perform a text book move by trading down to Fibonacci support and from there bouncing higher. Focus on today This morning Oil has opened quietly with the price action trading within Friday’s candle range. Today I am monitoring the price action for a test of the 103.00 resistance level. Alternatively a failure to sustain higher prices could see Oil trade under the 100 level and test the 8 period daily moving averages.    AUDUSD http://i1340.photobucket.com/albums/o726/acfx2/31032014/audusddaily_zpsb71d4ce9.png Summary Friday AUDUSD experience its first lower daily close which was followed by 5 preceeeding up days. This down day occurred in the 50 to 61.8 Fibonacci resistance area.  Market overview AUDUSD has been trading in a daily uptrend following the breach of the 0.9080 level being the swing high of the 18th February. However the weekly chart continues to trade in a weekly down trend with the price action now trading into the Fibonacci resistance area. That AUDUSD has formed a large inverse head and shoulders pattern it will be interesting to see if either this pattern trades to its upside target which comes in at the 0.9535 level of if Fibonacci resistance will offer a strong barrier to further upside momentum. Focus on today This morning AUDUSD has opened negativley as the price action trades below Friday’s range. I am this morning monitoring the price action for a potential move back down to the 8 period daily moving averages. Alternatively if AUDUSD fails to sustain lower prices there is a possibility that AUDUSD tests Friday’s high.   Dow30 http://i1340.photobucket.com/albums/o726/acfx2/31032014/ws30daily_zpsaf132b1b.png Summary Friday Dow30 continues to trade at the averages.  Market overview Dow30 has been trading in a daily down trend following the breach of the 15664 level being the swing low pivot of the 26th December. However the weekly chart continues to trade in a weekly up trend. Focus on today This morning Dow30 hasopened quietly as the price action trades within the previous 9 days candle range.  I am this morning monitoring the price action for a potential re-test of the 16447 level being last week’s high. Alternatively if Dow30 fails to sustain higher prices there is a possibility that Dow30 tests the 16175 level. Quote Link to comment Share on other sites More sharing options...
Atlas CapitalFx Posted April 1, 2014 Author Report Share Posted April 1, 2014 Daily Technical Analysis 1st April 2014   EURUSD http://i1340.photobucket.com/albums/o726/acfx2/01042014/eurusddaily_zps60210381.png  Summary Monday EURUSD continued to traded higher following its bounce off the 50 to 61.8% Fibonacci support area. This lead to an upward penetration of the moving averages.  Market overview EURUSD continues to trade in a daily uptrend following the breach of the 1.3741 level being the 24th January swing. This price action has put the daily time frame in gear with the positive weekly trend. However there has been a recent strong correction which has had the effect of creating a bearish head and shoulders pattern that is marked by the ellipse. There has been a break beneath the right shoulder could see EURUSD trade down to trend line support. Focus on today This morning EURUSD has opened positively as it trades within the previous days range. I am this morning monitoring the price action for a potential test of the 1.3875 being the 24th March pivot high.  Alternatively if EURUSD fails to sustain higher prices there is a possibility that this pair trades back to Fibonacci support.   GBPUSD http://i1340.photobucket.com/albums/o726/acfx2/01042014/gbpusddaily_zps0cd70293.png Summary Monday GBPUSD continued to trade above the above the prior broken up trend line. Market overview GBPUSD has traded above the 1.6668 being the prior isolated pivot high. This price activity has effectively changed the daily trend to up and puts it in line with the bullish weekly outlook. More recently GBPUSD has experienced a strong downside correction and this has had the effect of creating a large converging triangle consolidation pattern. As GBPUSD has bow bounced off Fibonacci support and with the weekly trend pointing up I would expect this triangle pattern when it breaks to trade higher.  Focus on today This morning GBPUSD has opened quietly as the price action trades at the highs of the recent up move. I am today monitoring the price action for a test of the 1.6700 resistance level. Alternatively if GBPUSD cannot sustain higher prices could see the price action test the 1.6570 support level.   USDJPY http://i1340.photobucket.com/albums/o726/acfx2/01042014/usdjpydaily_zps3633f152.png Summary Monday USDJPY following the break of the 103.00 level yesterday also tested the 103.40 level.  Market overview The breach of the 102.83 level being the swing high of the 21st February has effectively changed the daily trend to up and therefore putting this time frame into gear with the bullish weekly time frame. The recent price action is now indicating that the 101.00 support level is likely to hold. This is being confirmed by failure of the head and shoulders pattern to break lower. Focus on today This morning USDJPY has opened quietly as the price action trades at the highs Monday’s range. Today I am monitoring a potential test of the 103.40 level. Alternatively a failure to sustain higher prices could see USDJPY trade down to its averages.   USDCHF http://i1340.photobucket.com/albums/o726/acfx2/01042014/usdchfdaily_zpsbface61a.png Summary Monday USDCHF again attempted to break higher only for sellers to come into the market.  Market overview USDCHF continues to trade in a negative daily and weekly swing bias but the recent price action is beginning to take on a bullish feel to it. I am therefore monitoring signs for a base to be built that will allow for further upside move and a test of the downward sloping trend line. The bullish inverse head and shoulders pattern that is forming puts the price pattern in line with this hypothesis. However daily and weekly bias does continue to be fixed to the downside therefore shorting rallies is still probably the most logical strategy to adopt. Focus on today This morning USDCHF has opened negatively as within Monday’s candle range.  Today I am monitoring the price action for a move down from moving average value area. Alternatively a failure to sustain lower prices could see USDCHF test last week’s high.     Gold http://i1340.photobucket.com/albums/o726/acfx2/01042014/golddaily_zps65717f64.png Summary Monday Gold traded lower as the preice action penetraded the 50% Fibonacci level. Market overview Gold continues to trade in a daily uptrend following the breach of the 1267.99 level being the swing high of the 10th December. The break above the large downward sloping trend line adds impetus to the current positive swing bias. Furthermore we have witnessed a large multi month double bottom forming which could indicate a large upside trend reversal is a possibility.  However the weekly time frame continues to point down. That the recent rejection of higher prices has come off a bounce from a downward sloping trend line and Fibonacci resistance level could indicate that the recent rally in Gold is part of a bigger cycle correction that ultimately sends Gold lower.  That Gold has experienced a strong daily time frame correction has pushed the price action towards Fibonacci support and the ability or not of Fibonacci support to push Gold higher will give an indication if the bullish daily up trend or the bearish weekly down trend will win this current battle. Focus on today This morning Gold has opened positively as the price within the previous days candle range. Today I am monitoring the price action for Gold to test the 1270.00 level. Alternatively a failure to sustain lower prices could see Gold trade up to the 1310.00 level.   Oil http://i1340.photobucket.com/albums/o726/acfx2/01042014/wtidaily_zps79f5f554.png Summary Monday Oil continued to trade lower as the price action was not able to trade above Friday’s high. Market overview Oil continues to trade in a daily uptrend following the breach of the 100.72 level being the swing high of the 24th December. The daily and weekly times both have a positive bias. The recent price activity has seen the price action perform a text book move by trading down to Fibonacci support and from there bouncing higher. Focus on today This morning Oil has opened negatively with the price action trading within Monday’s candle range. Today I am monitoring the price action for a test of the 103.00 resistance level. Alternatively a failure to sustain higher prices could see Oil trade under the 100 level and test the 8 period daily moving averages.     AUDUSD http://i1340.photobucket.com/albums/o726/acfx2/01042014/audusddaily_zps0e9e06e4.png Summary Monday AUDUSD partial reverese Friday’s lower close as the price action trades within the 50 to 61.8 Fibonacci resistance area.  Market overview AUDUSD has been trading in a daily uptrend following the breach of the 0.9080 level being the swing high of the 18th February. However the weekly chart continues to trade in a weekly down trend with the price action now trading into the Fibonacci resistance area. That AUDUSD has formed a large inverse head and shoulders pattern it will be interesting to see if either this pattern trades to its upside target which comes in at the 0.9535 level of if Fibonacci resistance will offer a strong barrier to further upside momentum. Focus on today This morning AUDUSD has opened quietley as the price action trades above Monday’s range. I am this morning monitoring the price action for a potential move to the 61.8 Fibonacci level. Alternatively if AUDUSD fails to sustain higher prices there is a possibility that AUDUSD tests 8 period moving averages.   Dow30  http://i1340.photobucket.com/albums/o726/acfx2/01042014/ws30daily_zpsa81a48ab.png Summary Monday Dow30 bounce higher off the moving average support area. Market overview Dow30 has been trading in a daily down trend following the breach of the 15664 level being the swing low pivot of the 26th December. However the weekly chart continues to trade in a weekly up trend. Focus on today This morning Dow30 haso pened quietly as the price action trades at the highs of the previous days candle range.  I am this morning monitoring the price action for a potential re-test of the 16500 resistance level. Alternatively if Dow30 fails to sustain higher prices there is a possibility that Dow30 tests the 8 period moving averages. Quote Link to comment Share on other sites More sharing options...
Atlas CapitalFx Posted April 2, 2014 Author Report Share Posted April 2, 2014 Daily Technical Analysis 2nd April 2014    EURUSD http://s16.postimg.org/8oznjrk1x/eurusddaily.png  Summary Tuesday EURUSD continued to traded higher following its bounce off the 50 to 61.8% Fibonacci support area. This lead to an upward penetration of the moving averages.  Market overview EURUSD continues to trade in a daily uptrend following the breach of the 1.3741 level being the 24th January swing. This price action has put the daily time frame in gear with the positive weekly trend. However there has been a recent strong correction which has had the effect of creating a bearish head and shoulders pattern that is marked by the ellipse. There has been a break beneath the right shoulder could see EURUSD trade down to trend line support. Focus on today This morning EURUSD has opened positively as it trades within the previous days range. I am this morning monitoring the price action for a potential test of the 1.3875 being the 24th March pivot high.  Alternatively if EURUSD fails to sustain higher prices there is a possibility that this pair trades back to Fibonacci support.   GBPUSD http://s16.postimg.org/n5mwyc9j9/gbpusddaily.png Summary Tuesday GBPUSD continued to trade above the above the prior broken up trend line. Market overview GBPUSD has traded above the 1.6668 being the prior isolated pivot high. This price activity has effectively changed the daily trend to up and puts it in line with the bullish weekly outlook. More recently GBPUSD has experienced a strong downside correction and this has had the effect of creating a large converging triangle consolidation pattern. As GBPUSD has bow bounced off Fibonacci support and with the weekly trend pointing up I would expect this triangle pattern when it breaks to trade higher.  Focus on today This morning GBPUSD has opened quietly as the price action trades at the highs of the recent up move. I am today monitoring the price action for a test of the 1.6700 resistance level. Alternatively if GBPUSD cannot sustain higher prices could see the price action test the 1.6570 support level.    USDJPY http://s16.postimg.org/nekho9mbp/usdjpydaily.png Summary Tuesday USDJPY continued to trade higher as it approached the 103.76 level being the prior swing high of the 7th March.  Market overview The breach of the 102.83 level being the swing high of the 21st February has effectively changed the daily trend to up and therefore putting this time frame into gear with the bullish weekly time frame. The recent price action has seen a failure of the head and shoulders pattern which confirms the current upward momentum. Focus on today This morning USDJPY has opened strongly with the price action penetrating the 103.76 level being the prior swing high of the 7th March.  Today I am monitoring a potential close above the 103.76 level. Alternatively a failure to sustain higher prices could see USDJPY trade down to the 103.00 level.   USDCHF http://s16.postimg.org/fe66zs5dx/usdchfdaily.png Summary Tuesday USDCHF continued to reject higher prices at the 8 to 34 period daily moving averages. Market overview USDCHF continues to trade in a negative daily and weekly swing bias but the recent price action is beginning to take on a bullish feel to it. I am therefore monitoring signs for a base to be built that will allow for further upside move and a test of the downward sloping trend line. The bullish inverse head and shoulders pattern that is forming puts the price pattern in line with this hypothesis. However daily and weekly bias does continue to be fixed to the downside therefore shorting rallies is still probably the most logical strategy to adopt. Focus on today This morning USDCHF has opened negatively as within Tuesday’s candle range.  Today I am monitoring the price action for a move down from moving average value area. Alternatively a failure to sustain lower prices could see USDCHF test last week’s high.     Gold http://s16.postimg.org/46srdxemd/golddaily.png Summary Tuesday Gold traded lower as the preice action penetraded the 50% Fibonacci level. Market overview Gold continues to trade in a daily uptrend following the breach of the 1267.99 level being the swing high of the 10th December. The break above the large downward sloping trend line adds impetus to the current positive swing bias. Furthermore we have witnessed a large multi month double bottom forming which could indicate a large upside trend reversal is a possibility.  However the weekly time frame continues to point down. That the recent rejection of higher prices has come off a bounce from a downward sloping trend line and Fibonacci resistance level could indicate that the recent rally in Gold is part of a bigger cycle correction that ultimately sends Gold lower.  That Gold has experienced a strong daily time frame correction has pushed the price action into Fibonacci support and the ability or not of Fibonacci support to push Gold higher will give an indication if the bullish daily up trend or the bearish weekly down trend will win this current battle. Focus on today This morning Gold has opened positively as the price within the previous days candle range. Today I am monitoring the price action for Gold to test the 1270.00 level. Alternatively a failure to sustain lower prices could see Gold trade up to the 1310.00 level.   Oil http://s16.postimg.org/b2hlaryh1/wtidaily.png Summary Tuesday Oil broke lower as the price action slashed through the 100.00 level. Market overview Oil continues to trade in a daily uptrend following the breach of the 100.72 level being the swing high of the 24th December. The daily and weekly times both have a positive bias. The recent price activity has seen the price action perform a text book move by trading down to Fibonacci support and from there bouncing higher. However Oil needs to hold above the 97.35 level so as to maintain its daily uptrend. Focus on today This morning Oil has opened negatively with the price action trading at the bottom of Tuesday’s candle range. Today I am monitoring the price action for a test of the 98.00 support level. Alternatively a failure to sustain lower prices could see Oil trade back up to the 100 level.    AUDUSD http://s16.postimg.org/ycr5splj9/audusddaily.png Summary Tuesday AUDUSD managed to trade above last weeks high but was not able to sustain higher prices and eventually closed the day down.  Market overview AUDUSD has been trading in a daily uptrend following the breach of the 0.9080 level being the swing high of the 18th February. However the weekly chart continues to trade in a weekly down trend with the price action now trading into the Fibonacci resistance area. That AUDUSD has formed a large inverse head and shoulders pattern it will be interesting to see if either this pattern trades to its upside target which comes in at the 0.9535 level or if Fibonacci resistance will offer a strong barrier to further upside momentum. Focus on today This morning AUDUSD has opened quietley as the price action trades with Tuesday’s range. I am this morning monitoring the price action for a potential move to the 61.8 Fibonacci level. Alternatively if AUDUSD fails to sustain higher prices there is a possibility that AUDUSD tests 8 period moving averages.  Dow30 http://s16.postimg.org/yffmtaekl/ws30daily.png Summary Tuesday Dow30 continued to trade higher as the price action tested the 16,570 resistance level. Market overview Yesterday’s move above the 16,514 being the 7th March swing high has changed the daily trend to up. This has put the daily trend in gear with the weekly trend. Focus on today This morning Dow30 haso pened quietly as the price action trades at the highs of the previous days candle range.  I am this morning monitoring the price action for a potential re-test of the 16,570 resistance level. Alternatively if Dow30 fails to sustain higher prices there is a possibility that Dow30 tests the 8 period moving averages. Quote Link to comment Share on other sites More sharing options...
Atlas CapitalFx Posted April 3, 2014 Author Report Share Posted April 3, 2014 Daily Technical Analysis 3rd April 2014    EURUSD http://s15.postimg.org/8yf8k88nv/eurusddaily.png  Summary Wednesday EURUSD intially traded higher but was not able to close above the moving averages.  Market overview EURUSD continues to trade in a daily uptrend following the breach of the 1.3741 level being the 24th January swing. This price action has put the daily time frame in gear with the positive weekly trend. However there has been a recent strong correction which has had the effect of creating a bearish head and shoulders pattern that is marked by the ellipse. There has been a break beneath the right shoulder could see EURUSD trade down to trend line support. Focus on today This morning EURUSD has opened negatively as it trades within the previous days range. I am this morning monitoring the price action for a potential move back to Fibonacci support. Alternatively if EURUSD fails to sustain lower prices there is a possibility tests 1.3875 being the 24th March pivot    GBPUSD http://s15.postimg.org/avbyoszbv/gbpusddaily.png Summary Wednesday GBPUSD continued to trade above the above the prior broken up trend line. Market overview GBPUSD has traded above the 1.6668 being the prior isolated pivot high. This price activity has effectively changed the daily trend to up and puts it in line with the bullish weekly outlook. More recently GBPUSD has experienced a strong downside correction and this has had the effect of creating a large converging triangle consolidation pattern. As GBPUSD has bow bounced off Fibonacci support and with the weekly trend pointing up I would expect this triangle pattern when it breaks to trade higher.  Focus on today This morning GBPUSD has opened quietly as the price action trades at the highs of the recent up move. I am today monitoring the price action for a test of the 1.6700 resistance level. Alternatively if GBPUSD cannot sustain higher prices could see the price action test the 1.6570 support level.   USDJPY http://s15.postimg.org/ccxf0d42j/usdjpydaily.png  Summary Wednesday USDJPY continued to trade higher as it penetrated the 103.76 level being the prior swing high of the 7th March.  Market overview The breach of the 102.83 level being the swing high of the 21st February has effectively changed the daily trend to up and therefore putting this time frame into gear with the bullish weekly time frame. The recent price action has seen a failure of the head and shoulders pattern which confirms the current upward momentum. Focus on today This morning USDJPY has opened quietly with the price action trading at the highs of yesterday’s candle range.  Today I am monitoring USDJPY for a move towards the 104.85 level being the prior swing high of the 25th January Alternatively a failure to sustain higher prices could see USDJPY trade down to the 103.40 level.   USDCHF http://s15.postimg.org/xdngla7kr/usdchfdaily.png Summary Wednesday USDCHF the prior two day down move as it slashed through and closed above the 8 to 34 period daily moving averages. Market overview USDCHF continues to trade in a negative daily and weekly swing bias but the recent price action is beginning to take on a bullish feel to it. I am therefore monitoring signs for a base to be built that will allow for further upside move and a test of the downward sloping trend line. The bullish inverse head and shoulders pattern that is forming puts the price pattern in line with this hypothesis. However daily and weekly bias does continue to be fixed to the downside therefore shorting rallies is still probably the most logical strategy to adopt. Focus on today This morning USDCHF has opened quietly as it trades at the highs of Wednesday’s candle range.  Today I am monitoring the price action to potentially trade up to last week’s high. Alternatively a failure to sustain higher prices could see USDCHF test the moving averages.     Gold http://s15.postimg.org/f0mvapx3v/golddaily.png Summary Wednesday Gold bounce higher off the 50% Fibonacci support level. Market overview Gold continues to trade in a daily uptrend following the breach of the 1267.99 level being the swing high of the 10th December. The break above the large downward sloping trend line adds impetus to the current positive swing bias. Furthermore we have witnessed a large multi month double bottom forming which could indicate a large upside trend reversal is a possibility.  However the weekly time frame continues to point down. That the recent rejection of higher prices has come off a bounce from a downward sloping trend line and Fibonacci resistance level could indicate that the recent rally in Gold is part of a bigger cycle correction that ultimately sends Gold lower.  That Gold has experienced a strong daily time frame correction has pushed the price action into Fibonacci support and the ability or not of Fibonacci support to push Gold higher will give an indication if the bullish daily up trend or the bearish weekly down trend will win this current battle. Focus on today This morning Gold has opened positively as the price action trades at the highs of the previous days candle range. Today I am monitoring the price action for Gold to trade up to the 1310.00 level. Alternatively a failure to penetrate the 8 period moving averages could see Gold trade down to the 1270.00 level.   Oil http://s15.postimg.org/hx9wb02xn/wtidaily.png Summary Wednesday Oil continued to trade lower as the price action closed at the lows of the previous days range. Market overview Oil continues to trade in a daily uptrend following the breach of the 100.72 level being the swing high of the 24th December. The daily and weekly times both have a positive bias. The recent price activity has seen the price action perform a text book move by trading down to Fibonacci support and from there bouncing higher. However Oil needs to hold above the 97.35 level so as to maintain its daily uptrend. Focus on today This morning Oil has opened quietly with the price action trading within Wednesday’s candle range. Today I am monitoring the price action for a test of the 100.00 support level. Alternatively a failure to sustain higher prices could see Oil trade back down to the 98.00 level.    AUDUSD http://s15.postimg.org/y702dwdln/audusddaily.png Summary Wednesday AUDUSD experienced a quiet day as it traded down to the 8 period moving averages.  Market overview AUDUSD has been trading in a daily uptrend following the breach of the 0.9080 level being the swing high of the 18th February. However the weekly chart continues to trade in a weekly down trend with the price action now trading into the Fibonacci resistance area. That AUDUSD has formed a large inverse head and shoulders pattern it will be interesting to see if either this pattern trades to its upside target which comes in at the 0.9535 level or if Fibonacci resistance will offer a strong barrier to further upside momentum. Focus on today This morning AUDUSD has opened negativley as the price action tests the 8 period moving averages. I am this morning monitoring the price action for a potential move into the direction of trend line support. Alternatively if AUDUSD fails to sustain lower prices there is a possibility that AUDUSD tests the 61.8 Fibonacci resistance level.   Dow30 http://s15.postimg.org/ur7y4cgd7/ws30daily.png Summary Wednesday Dow30 continued to trade higher as the price action tested the 16,570 resistance level. Market overview The move above the 16,514 being the 7th March swing high has changed the daily trend to up. This has put the daily trend in gear with the weekly trend. Focus on today This morning Dow30 haso pened quietly as the price action trades within the previous days candle range.  I am this morning monitoring the price action for a potential re-test of the 16,570 resistance level. Alternatively if Dow30 fails to sustain higher prices there is a possibility that Dow30 trades down to the 16,500 support level. Quote Link to comment Share on other sites More sharing options...
Atlas CapitalFx Posted April 4, 2014 Author Report Share Posted April 4, 2014 Daily Technical Analysis 4th April 2014    EURUSD http://s11.postimg.org/o0exdbs43/eurusddaily.png Summary Thursday EURUSD broke down from its averages as the price action traded down to Fibonacci support. Market overview EURUSD continues to trade in a daily uptrend following the breach of the 1.3741 level being the 24th January swing. This price action has put the daily time frame in gear with the positive weekly trend. However there has been a recent strong correction which has had the effect of creating a bearish head and shoulders pattern that is marked by the ellipse. The downside target for a completion of the head and shoulders pattern is in the region of the 1.3420 support level. However as the weekly chart continues to have a positive bias I am monitoring signs for a base to build within the Fibonacci support area. Focus on today This morning EURUSD has opened negatively as it trades at the lows of the previous days range. I am this morning monitoring the price action for a potential bounce off trend line and Fibonacci support. Alternatively if EURUSD fails to sustain higher prices there is a possibility tests trend line support.    GBPUSD http://s11.postimg.org/gcwm8ritv/gbpusddaily.png  Summary Thursday GBPUSD traded and closed under the prior broken up trend line as the price action traded down to the 1.6570 support level. Market overview GBPUSD has traded above the 1.6668 being the prior isolated pivot high. This price activity has effectively changed the daily trend to up and puts it in line with the bullish weekly outlook. More recently GBPUSD has experienced a strong downside correction and this has had the effect of creating a large converging triangle consolidation pattern. As GBPUSD has bow bounced off Fibonacci support and with the weekly trend pointing up I would expect this triangle pattern when it breaks to trade higher.  Focus on today This morning GBPUSD has opened quietly as the price action trades at the lows of yesterday’s range. I am today monitoring the price action for a test of the 1.6570 support level. Alternatively if GBPUSD cannot sustain lower prices could see the price action test the 1.6700 resistance level.   USDJPY http://s11.postimg.org/lyefz2u4z/usdjpydaily.png Summary Thursday USDJPY continued to trade higher as it closed for the second day above the 103.76 level being the prior swing high of the 7th March.  Market overview The breach of the 102.83 level being the swing high of the 21st February has effectively changed the daily trend to up and therefore putting this time frame into gear with the bullish weekly time frame. The recent price action has seen a failure of the head and shoulders pattern which confirms the current upward momentum. Focus on today This morning USDJPY has opened quietly with the price action trading within yesterday’s candle range.  Today I am monitoring USDJPY for a move towards the 104.85 level being the prior swing high of the 25th January Alternatively a failure to sustain higher prices could see USDJPY trade down to the 103.40 level.   USDCHF http://s11.postimg.org/g8y7ernyr/usdchfdaily.png Summary Thursday USDCHF traded and closed above the right shoulder of the inverse head and shoulders pattern. The upside move continued all day until the price action was held at the 50% Fibonacci level, the 0.8930 resistance level and trend line resistance. Market overview USDCHF continues to trade in a negative daily and weekly swing bias but the recent price action is beginning to take on a bullish feel to it. That the bullish inverse head and shoulders pattern has now broken to the upside I am now monitoring the possibility that this pattern reaches its upside target of 0.9080. However daily and weekly bias does continue to be fixed to the downside therefore shorting rallies is still probably the most logical strategy to adopt. I am therefore monitoring the price action as it tests the downward sloping trend line and Fibonacci resistance for signs of a resumption of the down trend. Focus on today This morning USDCHF has opened positively as it trades at the highs of Thursday’s candle range.  Today I am monitoring the price action to potentially test the 0.8930 resistance level. Alternatively a failure to sustain higher prices could see USDCHF test the moving averages.  Gold http://s11.postimg.org/joqbobl77/golddaily.png Summary Thursday Gold following its bounce off the 50% Fibonacci support level failed to break above the 8 period daily moving averages. Market overview Gold continues to trade in a daily uptrend following the breach of the 1267.99 level being the swing high of the 10th December. The test of the large downward sloping trend line adds impetus to the current positive swing bias. Furthermore we have witnessed a large multi month double bottom forming which could indicate a large upside trend reversal is a possibility.  However the weekly time frame continues to point down. That the recent rejection of higher prices has come off a bounce from a downward sloping trend line and Fibonacci resistance level could indicate that the recent rally in Gold is part of a bigger cycle correction that ultimately sends Gold lower.  That Gold has experienced a strong daily time frame correction has pushed the price action into Fibonacci support and the ability or not of Fibonacci support to push Gold higher will give an indication if the bullish daily up trend or the bearish weekly down trend will win this current battle. Focus on today This morning Gold has opened quietly as the price action trades within the previous 3 days candle range. Today I am monitoring the price action for Gold to trade up to the 1310.00 level. Alternatively a failure to penetrate the 8 period moving averages could see Gold trade down to the 1270.00 level.   Oil http://s11.postimg.org/bsafttz4j/wtidaily.png Summary Thursday Oil had a strong up day as the price action traded back up to its averages. Market overview Oil continues to trade in a daily uptrend following the breach of the 100.72 level being the swing high of the 24th December. The daily and weekly times both have a positive bias. The recent price activity has seen the price action perform a text book move by trading down to Fibonacci support and from there bouncing higher. However Oil needs to hold above the 97.35 level so as to maintain its daily uptrend. Focus on today This morning Oil has opened positively with the price action trades above Thursday’s candle range. Today I am monitoring the price action for a test of the 34 period daily moving averages. Alternatively a failure to sustain higher prices could see Oil trade back down to the 100.00 level.   AUDUSD http://s11.postimg.org/p6nipv5sj/audusddaily.png Summary Thursday AUDUSD experienced a quiet day as it traded around the 8 period moving averages.  Market overview AUDUSD has been trading in a daily uptrend following the breach of the 0.9080 level being the swing high of the 18th February. However the weekly chart continues to trade in a weekly down trend with the price action now trading into the Fibonacci resistance area. That AUDUSD has formed a large inverse head and shoulders pattern it will be interesting to see if either this pattern trades to its upside target which comes in at the 0.9535 level or if Fibonacci resistance will offer a strong barrier to further upside momentum. Focus on today This morning AUDUSD has opened quietley as the price action tests the 8 period moving averages. I am this morning monitoring the price action for a potential move into the direction of trend line support. Alternatively if AUDUSD fails to sustain lower prices there is a possibility that AUDUSD tests the 61.8 Fibonacci resistance level.   Dow30 http://s11.postimg.org/nz4zjwqab/ws30daily.png Summary Thursday Dow30 continued to trade higher as the price action tested the 16,570 resistance level. Market overview The move above the 16,514 being the 7th March swing high has changed the daily trend to up. This has put the daily trend in gear with the weekly trend. Focus on today This morning Dow30 haso opened quietly as the price action trades above the 16,570 level and within the previous days candle range.  I am this morning monitoring the price action for a potential close above the 16,570 resistance level. Alternatively if Dow30 fails to sustain higher prices there is a possibility that Dow30 trades down to the 16,500 support level. Quote Link to comment Share on other sites More sharing options...
Atlas CapitalFx Posted April 7, 2014 Author Report Share Posted April 7, 2014 Daily Technical Analysis 7th April 2014      EURUSD http://s17.postimg.org/b3m79mtj3/eurusddaily.png Summary Friday EURUSD continued to trade lower as the price action traded down to Fibonacci, trend line and the 1.3670 support level. Market overview EURUSD continues to trade in a daily uptrend following the breach of the 1.3741 level being the 24th January swing. This price action has put the daily time frame in gear with the positive weekly trend. However there has been a recent strong correction which has had the effect of creating a bearish head and shoulders pattern that is marked by the ellipse. The downside target for a completion of the head and shoulders pattern is in the region of the 1.3420 support level. However as the weekly chart continues to have a positive bias I am monitoring signs for a base to build within the Fibonacci support area. Focus on today This morning EURUSD has opened quietly as it trades within the previous days range. I am this morning monitoring the price action for a potential bounce off trend line and Fibonacci support. Alternatively if EURUSD fails to sustain higher prices there is a possibility tests trend line support.    GBPUSD http://s17.postimg.org/w1sd7ptdr/gbpusddaily.png Summary Friday GBPUSD continued to trade lower as the price action tested the 1.6570 support level. Market overview GBPUSD has traded above the 1.6668 being the prior isolated pivot high. This price activity has effectively changed the daily trend to up and puts it in line with the bullish weekly outlook. More recently GBPUSD has experienced a strong downside correction and this has had the effect of creating a large converging triangle consolidation pattern. As GBPUSD has bow bounced off Fibonacci support and with the weekly trend pointing up I would expect this triangle pattern when it breaks to trade higher.  Focus on today This morning GBPUSD has opened quietly as the price action trades within the previous days range. I am today monitoring the price action for a test of the 1.6570 support level. Alternatively if GBPUSD cannot sustain lower prices could see the price action test the 1.6700 resistance level.  USDJPY http://s17.postimg.org/y2iwsjpj3/usdjpydaily.png Summary Friday USDJPY broke down from its highs as the price action traded down to the 8 period moving averages.  Market overview The breach of the 102.83 level being the swing high of the 21st February has effectively changed the daily trend to up and therefore putting this time frame into gear with the bullish weekly time frame. The recent price action has seen a failure of the head and shoulders pattern which confirms the current upward momentum. Focus on today This morning USDJPY has opened bearishly with the price action breaching the 8 period daily moving averages and tests the 103.00 support level.  Today I am monitoring USDJPY for a test of the 103.00 support level and possible move to the 34 period daily moving averages. Alternatively a failure to sustain lower prices could see USDJPY test the 103.40 resistance level.   USDCHF http://s17.postimg.org/mrg946inz/usdchfdaily.png Summary Friday USDCHF attempted to traded above trend line resistance but was not able to hold above it. Market overview USDCHF continues to trade in a negative daily and weekly swing bias but the recent price action is beginning to take on a bullish feel to it. That the bullish inverse head and shoulders pattern has now broken to the upside I am now monitoring the possibility that this pattern reaches its upside target of 0.9080. However daily and weekly bias does continue to be fixed to the downside therefore shorting rallies is still probably the most logical strategy to adopt. I am therefore monitoring the price action as it tests the downward sloping trend line and Fibonacci resistance for signs of a resumption of the down trend. Focus on today This morning USDCHF has opened quietly as it trades within Friday’s candle range.  Today I am monitoring the price action to potentially retest the 0.8930 resistance level. Alternatively a failure to sustain higher prices could see USDCHF test the moving averages.   Gold http://s17.postimg.org/l4r1iy6m7/golddaily.png Summary Friday Gold continued to trade higher as the price action bounced off Fibonacci support and closed well above the 8 period daily moving averages. Market overview Gold continues to trade in a daily uptrend following the breach of the 1267.99 level being the swing high of the 10th December. The test of the large downward sloping trend line adds impetus to the current positive swing bias. Furthermore we have witnessed a large multi month double bottom forming which could indicate a large upside trend reversal is a possibility.  However the weekly time frame continues to point down. That the recent rejection of higher prices has come off a bounce from a downward sloping trend line and Fibonacci resistance level could indicate that the recent rally in Gold is part of a bigger cycle correction that ultimately sends Gold lower.  That Gold has experienced a strong daily time frame correction has pushed the price action into Fibonacci support and the ability or not of Fibonacci support to push Gold higher will give an indication if the bullish daily up trend or the bearish weekly down trend will win this current battle. Focus on today This morning Gold has opened quietly as the price action trades at the highs of Friday’s candle range. Today I am monitoring the price action for Gold to trade up to the 1310.00 level. Alternatively a failure to sustain higher prices could see Gold trade down to the 1270.00 level.   Oil http://s17.postimg.org/fhuolh43j/wtidaily.png Summary Friday Oil had a strong up day as the price action closed above its averages. Market overview Oil continues to trade in a daily uptrend following the breach of the 100.72 level being the swing high of the 24th December. The daily and weekly times both have a positive bias. The recent price activity has seen the price action perform a text book move by trading down to Fibonacci support and from there bouncing higher. However Oil needs to hold above the 97.35 level so as to maintain its daily uptrend. Focus on today This morning Oil has opened quietly as the price action trades within Friday’s candle range. Today I am monitoring the price action for a test 102.20 level being a prior swing high. Alternatively a failure to sustain higher prices could see Oil trade back down to the 100.00 level.    AUDUSD http://s17.postimg.org/67ikhxtdr/audusddaily.png Summary Friday AUDUSD bounce higher off the 8 period daily moving averages as the price action closed above Tuesday’s high.  Market overview AUDUSD has been trading in a daily uptrend following the breach of the 0.9080 level being the swing high of the 18th February. However the weekly chart continues to trade in a weekly down trend with the price action now trading into the Fibonacci resistance area. That AUDUSD has formed a large inverse head and shoulders pattern it will be interesting to see if either this pattern trades to its upside target which comes in at the 0.9535 level or if Fibonacci resistance will offer a strong barrier to further upside momentum. Focus on today This morning AUDUSD has opened quietley as the price action trades at the highs of Friday’s candle range. I am this morning monitoring the price action for a potential move to the 61.8% Fibonacci resistance level. Alternatively if AUDUSD fails to sustain higher prices there is a possibility that AUDUSD trades back down to the 8 period daily moving averages. Quote Link to comment Share on other sites More sharing options...
Atlas CapitalFx Posted April 8, 2014 Author Report Share Posted April 8, 2014 Daily Technical Analysis 8th April 2014    EURUSD http://s15.postimg.org/7clb858yj/eurusddaily.png  Summary Monday EURUSD bounce higher off Fibonacci, trend line and the 1.3670 support level as the price action tested the 8 period moving averages. Market overview EURUSD continues to trade in a daily uptrend following the breach of the 1.3741 level being the 24th January swing high. This price action has put the daily time frame in gear with the positive weekly trend. However there has been a recent strong correction which has had the effect of creating a bearish head and shoulders pattern that is marked by the ellipse. The downside target for a completion of the head and shoulders pattern is in the region of the 1.3420 support level. However as the weekly chart continues to have a positive bias I am monitoring signs for a base to build within the Fibonacci support area. Focus on today This morning EURUSD has opened quietly as it trades at the highs of the previous days range. I am this morning monitoring the price action for a potential test of the 8 period daily moving average and move to the 34 period daily moving averages. Alternatively if EURUSD fails to sustain higher prices there is a possibility tests trend line support.    GBPUSD http://s15.postimg.org/8swtqabvf/gbpusddaily.png Summary Monday GBPUSD bounced higher off the 1.6570 support level as the price action tested the moving averages. Market overview GBPUSD has traded above the 1.6668 being the prior isolated pivot high. This price activity has effectively changed the daily trend to up and puts it in line with the bullish weekly outlook. More recently GBPUSD has experienced a strong downside correction and this has had the effect of creating a large converging triangle consolidation pattern. As GBPUSD has bow bounced off Fibonacci support and with the weekly trend pointing up I would expect this triangle pattern when it breaks to trade higher.  Focus on today This morning GBPUSD has opened quietly as the price action trades at the highs of the previous days range. I am today monitoring the price action for a test of the moving averages and move to up to the prior broken up trend line. Alternatively if GBPUSD cannot sustain higher prices could see the price action test the 1.6570 support level.   USDJPY http://s15.postimg.org/6cv0cftsr/usdjpydaily.png  Summary Monday USDJPY continued to trade lower as the price action closed beneath the 8 period daily moving averages.  Market overview The breach of the 102.83 level being the swing high of the 21st February has effectively changed the daily trend to up and therefore putting this time frame into gear with the bullish weekly time frame. The recent price action has seen a failure of the head and shoulders pattern which confirms the current upward momentum. However USDJPY is now experiencing the third day of a strong corrective pull back. Focus on today This morning USDJPY has opened bearishly with the price action breaching the 8 103.00 support level.  Today I am monitoring USDJPY for a close beneath the 103.00 support level and possible move to the 34 period daily moving averages. Alternatively a failure to sustain lower prices could see USDJPY test the 103.40 resistance level.   USDCHF http://s15.postimg.org/51ruhpnkr/usdchfdaily.png Summary Monday USDCHF experienced a strong downside correction off trend line resistance with the price action ultimatley closing just above the 8 period daily moving  Market overview USDCHF continues to trade in a negative daily and weekly swing bias but the recent price action is beginning to take on a bullish feel to it. That the bullish inverse head and shoulders pattern has now broken to the upside I am now monitoring the possibility that this pattern reaches its upside target of 0.9080. However daily and weekly bias does continue to be fixed to the downside therefore shorting rallies is still probably the most logical strategy to adopt. I am therefore monitoring the price action as it tests the downward sloping trend line and Fibonacci resistance for signs of a resumption of the down trend. Focus on today This morning USDCHF has opened quietly as it trades below Monday’s candle range.  Today I am monitoring the price action to potentially test of the 8 period daily moving averages and a move down to the 34 period daily moving averages. Alternatively a failure to sustain lower prices could see USDCHF retest trend line resistance.    Gold http://s15.postimg.org/7gjq253tn/golddaily.png Summary Monday Gold was moderatley bearish day as the price action closed lower but at the highs of Friday’s range. Market overview Gold continues to trade in a daily uptrend following the breach of the 1267.99 level being the swing high of the 10th December. The test of the large downward sloping trend line adds impetus to the current positive swing bias. Furthermore we have witnessed a large multi month double bottom forming which could indicate a large upside trend reversal is a possibility.  However the weekly time frame continues to point down. That the recent rejection of higher prices has come off a bounce from a downward sloping trend line and Fibonacci resistance level could indicate that the recent rally in Gold is part of a bigger cycle correction that ultimately sends Gold lower.  That Gold has experienced a strong daily time frame correction has pushed the price action into Fibonacci support and the ability or not of Fibonacci support to push Gold higher will give an indication if the bullish daily up trend or the bearish weekly down trend will win this current battle. Focus on today This morning Gold has opened strongly as the price action tests the 1310.00 resistance level and trades above Friday’s candle range. Today I am monitoring the price action for Gold to trade up to the 1310.00 level and move to the 34 period daily moving averages. Alternatively a failure to sustain higher prices could see Gold trade down to the 8 period moving averages.   Oil http://s15.postimg.org/wqehp8al7/wtidaily.png Summary Monday Oil traded within a volatile range around its averages. Market overview Oil continues to trade in a daily uptrend following the breach of the 100.72 level being the swing high of the 24th December. The daily and weekly times both have a positive bias. The recent price activity has seen the price action perform a text book move by trading down to Fibonacci support and from there bouncing higher. However Oil needs to hold above the 97.35 level so as to maintain its daily uptrend. Focus on today This morning Oil has opened bullishly as the price action trades above its averages. Today I am monitoring the price action for a test 102.20 level being a prior swing high. Alternatively a failure to sustain higher prices could see Oil trade back down to the 100.00 level.   AUDUSD http://s15.postimg.org/66lwn3a1n/audusddaily.png Summary Monday AUDUSD experienced a moderatley down down as the price action traded within Friday’s candle range and closed above the 8 period daily moving averages.  Market overview AUDUSD has been trading in a daily uptrend following the breach of the 0.9080 level being the swing high of the 18th February. However the weekly chart continues to trade in a weekly down trend with the price action now trading into the Fibonacci resistance area. That AUDUSD has formed a large inverse head and shoulders pattern it will be interesting to see if either this pattern trades to its upside target which comes in at the 0.9535 level or if Fibonacci resistance will offer a strong barrier to further upside momentum. Focus on today This morning AUDUSD has opened bullishly as the price action trades at the highs of Friday’s candle range. I am this morning monitoring the price action for a potential move to the 61.8% Fibonacci resistance level. Alternatively if AUDUSD fails to sustain higher prices there is a possibility that AUDUSD trades back down to the 8 period daily moving averages.  Dow30 http://s15.postimg.org/8k3ue3ogr/us30daily.png Summary Monday Dow30 continued to trade lower as the price action corrected down to the 34 period daily moving averages. Market overview The move above the 16,514 being the 7th March swing high has changed the daily trend to up. This has put the daily trend in gear with the weekly trend. However we have now seen a strong two day corrective down move that has take the price action back down to the 16,245 support level. Focus on today This morning Dow30 has opened quietly as the price action trades at the lows of the previous days candle range.  I am this morning monitoring the price action for a potential test of the 16,245 support level. Alternatively if Dow30 fails to sustain lower prices there is a possibility that Dow30 tests the 8 period daily moving averages and then trades up to the 34 period daily moving averages. Quote Link to comment Share on other sites More sharing options...
Atlas CapitalFx Posted April 9, 2014 Author Report Share Posted April 9, 2014 Daily Technical Analysis 9th April 2014     EURUSD http://s8.postimg.org/olzhhw1h1/eurusddaily.png Summary Tuesday EURUSD continued to trade higher as the price action traded upto the 34 period moving averages. Market overview EURUSD continues to trade in a daily uptrend following the breach of the 1.3741 level being the 24th January swing high. This price action has put the daily time frame in gear with the positive weekly trend. However there has been a recent strong correction which has had the effect of creating a bearish head and shoulders pattern that is marked by the ellipse. The downside target for a completion of the head and shoulders pattern is in the region of the 1.3420 support level. However as the weekly chart continues to have a positive bias I am monitoring signs for a base to build within the Fibonacci support area. Focus on today This morning EURUSD has opened quietly as it trades at the highs of the previous days range. I am this morning monitoring the price action for a potential test of the 34 period daily moving averages and move to the 1.3875 level being the 24th March prior pivot high. Alternatively if EURUSD fails to sustain higher prices there is a possibility we see a move back to the 50% Fibonacci support level.   GBPUSD http://s8.postimg.org/kqw3fbib9/gbpusddaily.png Summary Tuesday GBPUSD continued to trade higher as the price action traded and closed well above last weeks high. The result of the move also broke and closed above the 1.6700 resistance level. Yesterday’s price action has made an initial attempt to break above the top of the triangle. Market overview GBPUSD has traded above the 1.6668 being the prior isolated pivot high. This price activity has effectively changed the daily trend to up and puts it in line with the bullish weekly outlook. More recently GBPUSD has experienced a strong downside correction and this has had the effect of creating a large converging triangle consolidation pattern.  Focus on today This morning GBPUSD has opened quietly as the price action trades at the highs of the previous days range. I am today monitoring the price action for a test of the triangle formation and move to the 1.6795 level. Alternatively if GBPUSD cannot sustain higher prices could see the price action test the 1.6700 support level.   USDJPY http://s8.postimg.org/czfdgre5x/usdjpydaily.png Summary Tuesday USDJPY continued to trade lower as the price action traded and closed beneath the 34 period daily moving averages. The move lower did manage to penetrate the 101.70 support level but USDJPY was not able to close the day beneath this level. Market overview The breach of the 102.83 level being the swing high of the 21st February has effectively changed the daily trend to up and therefore putting this time frame into gear with the bullish weekly time frame. The recent price action has seen a failure of the head and shoulders pattern which confirms the current upward momentum. However USDJPY is now experiencing the third day of a strong corrective pull back. A breach of the 101.19 level being the 14th March low would change the daily trend to down. Focus on today This morning USDJPY has opened quietly with the price action trading at the lows of Tuesday’s candle range.  Today I am monitoring USDJPY for a close beneath the 101.70 support level. Alternatively a failure to sustain lower prices could see USDJPY trade back up to the 34 period moving averages.   USDCHF http://s8.postimg.org/7vo3sk31x/usdchfdaily.png Summary Tuesday USDCHF continued to experienced a strong downside correction off trend line resistance with the price action ultimatley closing just above the 34 period daily moving  Market overview USDCHF continues to trade in a negative daily and weekly swing bias but the recent price action is beginning to take on a bullish feel to it. That the bullish inverse head and shoulders pattern has now broken to the upside I am now monitoring the possibility that this pattern reaches its upside target of 0.9080. However daily and weekly bias does continue to be fixed to the downside therefore shorting rallies is still probably the most logical strategy to adopt. I am therefore monitoring the price action as it tests the downward sloping trend line and Fibonacci resistance for signs of a resumption of the down trend. Focus on today This morning USDCHF has opened quietly as it trades at the lows of Tuesday’s candle range.  Today I am monitoring the price action to potentially test of the 34 period daily moving averages. Alternatively a failure to sustain lower prices could see USDCHF retest trend line resistance.   Gold http://s8.postimg.org/b18pirlo5/golddaily.png Summary Tuesday Gold saw a resumption of the uptrend as the price action closed above Friday’s candle range and tested thed 1310 resistance level. Market overview Gold continues to trade in a daily uptrend following the breach of the 1267.99 level being the swing high of the 10th December. The test of the large downward sloping trend line adds impetus to the current positive swing bias. Furthermore we have witnessed a large multi month double bottom forming which could indicate a large upside trend reversal is a possibility.  However the weekly time frame continues to point down. That the recent rejection of higher prices has come off a bounce from a downward sloping trend line and Fibonacci resistance level could indicate that the recent rally in Gold is part of a bigger cycle correction that ultimately sends Gold lower.  That Gold has experienced a strong daily time frame correction has pushed the price action into Fibonacci support and the ability or not of Fibonacci support to push Gold higher will give an indication if the bullish daily up trend or the bearish weekly down trend will win this current battle. Focus on today This morning Gold has opened quietly as the price action tests the 1310.00 resistance level and trades above Friday’s candle range. Today I am monitoring the price action for Gold to trade up to the 1310.00 level and move to the 34 period daily moving averages. Alternatively a failure to sustain higher prices could see Gold trade down to the 8 period moving averages.   Oil http://s8.postimg.org/a6m5wqdth/wtidaily.png Summary Tuesday Oil resumed its prior uptrend with the price action closing above last weeks high.  Market overview Oil continues to trade in a daily uptrend following the breach of the 100.72 level being the swing high of the 24th December. The daily and weekly times both have a positive bias. The recent price activity has seen the price action perform a text book move by trading down to Fibonacci support and from there bouncing higher. However Oil needs to hold above the 97.35 level so as to maintain its daily uptrend. Focus on today This morning Oil has opened quietly as the price action trades at the highs of yesterday’s range. Today I am monitoring the price action for a test 103.00 resistance level. Alternatively a failure to sustain higher prices could see Oil trade back down to the 100.00 level.   AUDUSD http://s8.postimg.org/5bsgygfhx/audusddaily.png Summary Tuesday AUDUSD traded higher as the price action bounced off the 8 period daily moving averages.  Market overview AUDUSD has been trading in a daily uptrend following the breach of the 0.9080 level being the swing high of the 18th February. However the weekly chart continues to trade in a weekly down trend with the price action now trading into the Fibonacci resistance area. That AUDUSD has formed a large inverse head and shoulders pattern it will be interesting to see if either this pattern trades to its upside target which comes in at the 0.9535 level or if Fibonacci resistance will offer a strong barrier to further upside momentum. Focus on today This morning AUDUSD has opened bullishly as the price action trades at the highs of Tuesday’s candle range. I am this morning monitoring the price action for a potential test of the 0.9390 resistance level. Alternatively if AUDUSD fails to sustain higher prices there is a possibility that AUDUSD trades back down to the 8 period daily moving averages.  Dow30 http://s8.postimg.org/5fmaepkz9/us30daily.png Summary Tuesday Dow30 continued to trade lower as the price action corrected down to the 34 period daily moving averages and 16,245 support level. Market overview The move above the 16,514 being the 7th March swing high has changed the daily trend to up. This has put the daily trend in gear with the weekly trend. However we have now seen a strong two day corrective down move that has take the price action back down to the 16,245 support level. Focus on today This morning Dow30 has opened quietly as the price action trades within the previous days candle range.  I am this morning monitoring the price action for a potential test of the 16,245 support level. Alternatively if Dow30 fails to sustain lower prices there is a possibility that Dow30 tests the 34 period daily moving averages and then trades up to the 8 period daily moving averages. Quote Link to comment Share on other sites More sharing options...
Atlas CapitalFx Posted April 10, 2014 Author Report Share Posted April 10, 2014 Daily Technical Analysis 10th April 2014    EURUSD http://s29.postimg.org/vdwsb6p3b/eurusddaily.png Summary Wednesday EURUSD continued to trade higher as the price action traded into the upper range of the 24th March high. Market overview EURUSD continues to trade in a daily uptrend following the breach of the 1.3741 level being the 24th January swing high. The daily trend is now in gear with the strong weekly up trend. This price action has put the daily time frame in gear with the positive weekly trend. The large head and shoulders pattern would appear to be invalidated by the past three days of bullish momentum. Focus on today This morning EURUSD has opened quietly as it trades at the highs of the previous days range. I am this morning monitoring the price actions for a potential test of the 1.3875 level being the 24th March prior pivot high. Alternatively if EURUSD fails to sustain higher prices there is a possibility we see a move back to the averages.   GBPUSD http://s29.postimg.org/x6zozia9z/gbpusddaily.png Summary Wednesday GBPUSD continued to trade higher as the price action the 1.6795 resistance level whoch coincided with the prior high of the 17th February. Market overview GBPUSD has traded above the 1.6668 being the prior isolated pivot high. This price activity has effectively changed the daily trend to up and puts it in line with the bullish weekly outlook. The past two day’s price activity has as expected, broken the converging triangle to the upside.  Focus on today This morning GBPUSD has opened quietly as the price action trades at the highs of the previous days range. I am today monitoring the price action for a test of the triangle formation and move to the 1.6795 level. Alternatively if GBPUSD cannot sustain higher prices could see the price action test the 1.6700 support level.    USDJPY http://s29.postimg.org/5kwxetqx3/usdjpydaily.png Summary Wednesday USDJPY consolidated at the lows of Tuesday’s big down leg with the price action being unable to pentrate beneath the 101.70 support level. Market overview The breach of the 102.83 level being the swing high of the 21st February has effectively changed the daily trend to up and therefore putting this time frame into gear with the bullish weekly time frame. The recent price action has seen a failure of the head and shoulders pattern which confirms the current upward momentum. However USDJPY is now experiencing the third day of a strong corrective pull back. A breach of the 101.19 level being the 14th March low would change the daily trend to down. Focus on today This morning USDJPY has opened negatively with the price action testing the 101.70 support level.  Today I am monitoring USDJPY for a close beneath the 101.70 support level. Alternatively a failure to sustain lower prices could see USDJPY trade back up to the 34 period moving averages.   USDCHF http://s29.postimg.org/4xy0pau13/usdchfdaily.png Summary Wednesday USDCHF continued to experienced a strong downside correction off trend line resistance with the price action trading and closing beneath the 34 period daily moving  Market overview USDCHF continues to trade in a negative daily and weekly swing bias but the recent price action is beginning to take on a bullish feel to it. That recent 3 day collapse off trend line resistance has invalidated the inverse head and shoulders pattern. I am therefore monitoring the price action as it tests the downward sloping trend line and Fibonacci resistance for signs of a resumption of the down trend. Focus on today This morning USDCHF has opened quietly as it trades at the lows of Wednesday’s candle range.  Today I am monitoring the price action to potentially move into the direction of the 13th March low. Alternatively a failure to sustain lower prices could see USDCHF retest trend line resistance.    Gold http://s29.postimg.org/f9eyvpb47/golddaily.png Summary Wednesday Gold continued to test the 1310 resistance level. Market overview Gold continues to trade in a daily uptrend following the breach of the 1267.99 level being the swing high of the 10th December. The test of the large downward sloping trend line adds impetus to the current positive swing bias. Furthermore we have witnessed a large multi month double bottom forming which could indicate a large upside trend reversal is a possibility.  However the weekly time frame continues to point down. That the recent rejection of higher prices has come off a bounce from a downward sloping trend line and Fibonacci resistance level could indicate that the recent rally in Gold is part of a bigger cycle correction that ultimately sends Gold lower.  That Gold has experienced a strong daily time frame correction has pushed the price action into Fibonacci support and the ability or not of Fibonacci support to push Gold higher will give an indication if the bullish daily up trend or the bearish weekly down trend will win this current battle. Focus on today This morning Gold has opened strongly as the price action trades above the 1310.00 resistance level. Today I am monitoring the price action for Gold to hold above the 1310.00 level and move to the 34 period daily moving averages. Alternatively a failure to sustain higher prices could see Gold trade down to the 8 period moving averages.  AUDUSD http://s29.postimg.org/dexj07ypz/audusddaily.png Summary Wednesday AUDUSD continued to trade higher as the price action closed above the 0.9390 resistance level and accelarates towards the 78.6% Fibonacci resistance level.  Market overview AUDUSD has been trading in a daily uptrend following the breach of the 0.9080 level being the swing high of the 18th February. However the weekly chart continues to trade in a weekly down trend with the price action now trading into the Fibonacci resistance area. That AUDUSD has formed a large inverse head and shoulders pattern it will be interesting to see if either this pattern trades to its upside target which comes in at the 0.9535 level or if Fibonacci resistance will offer a strong barrier to further upside momentum. Focus on today This morning AUDUSD has opened bullishly as the price action trades at the highs of Wednesday’s candle range. I am this morning monitoring the price action for a potential test of the 0.9535 resistance level. Alternatively if AUDUSD fails to sustain higher prices there is a possibility that AUDUSD trades back down to the 0.9390 support level. Quote Link to comment Share on other sites More sharing options...
Atlas CapitalFx Posted April 11, 2014 Author Report Share Posted April 11, 2014 Daily Technical Analysis 11th April 2014   EURUSD http://s7.postimg.org/nwye1hejv/eurusd_daily.png Summary Thursday EURUSD continued to trade higher as the price action traded and closed above the 1.3875 level being the prior pivot high of the 24th March high. Market overview EURUSD continues to trade in a daily uptrend following the breach of the 1.3741 level being the 24th January swing high. The daily trend is now in gear with the strong weekly up trend. This price action has put the daily time frame in gear with the positive weekly trend. Furthermore the large head and shoulders pattern would appear to be invalidated by the recent bullish momentum. Focus on today This morning EURUSD has opened quietly as it trades at the highs of the previous days range. I am this morning monitoring the price actions for a potential test of the 1.3966 level being the 13h March prior swing high. Alternatively if EURUSD fails to sustain higher prices there is a possibility we see a move back to the averages.   GBPUSD http://s7.postimg.org/hbh2nz9bf/gbpusd_daily.png Summary Thursday GBPUSD continued to trade higher as the price action once again tested the 1.6795 resistance level which coincided with the prior high of the 17th February. Market overview GBPUSD has traded above the 1.6668 being the prior isolated pivot high. This price activity has effectively changed the daily trend to up and puts it in line with the bullish weekly outlook. The past two day’s price activity has as expected, broken the converging triangle to the upside.  Focus on today This morning GBPUSD has opened quietly as the price action trades at the highs of the previous days range. I am today monitoring the price action for a test of the 1.6795 level. Alternatively if GBPUSD cannot sustain higher prices could see the price action test the 1.6700 support level.     USDJPY http://s7.postimg.org/d3maf87vv/usdjpy_daily.png Summary Thursday USDJPY resumed its downward journey as the price action traded and closed below the 101.70 support level. Market overview The breach of the 102.83 level being the swing high of the 21st February has effectively changed the daily trend to up and therefore putting this time frame into gear with the bullish weekly time frame. The recent price action has seen a failure of the head and shoulders pattern which confirms the current upward momentum. However USDJPY is now experiencing the third day of a strong corrective pull back. A breach of the 101.19 level being the 14th March low would change the daily trend to down. Focus on today This morning USDJPY has opened positively with the price action trading above the 101.70 support level.  Today I am monitoring USDJPY for a close beneath the 101.70 support level. Alternatively a failure to sustain lower prices could see USDJPY trade back up to the 34 period moving averages.   USDCHF http://s7.postimg.org/x0wt1xg4r/usdchf_daily.png Summary Thursday USDCHF continued to experienced a strong downside correction off trend line resistance with the price action continuing to trade beneath the 34 period daily moving  Market overview USDCHF continues to trade in a negative daily and weekly swing bias but the recent price action is beginning to take on a bullish feel to it. That recent 4 day collapse off trend line resistance has invalidated the inverse head and shoulders pattern. I am therefore considering the break down from trend line and Fibonacci resistance as a resumption of the down trend. Focus on today This morning USDCHF has opened quietly as it trades at the lows of Wednesday’s candle range.  Today I am monitoring the price action to potentially move into the direction of the 13th March low. Alternatively a failure to sustain lower prices could see USDCHF trade back to its averages.    Gold http://s7.postimg.org/6h47zsfl7/xauusd_daily.png Summary Thursday Gold traded and closed above the 1310 resistance level and traded towards the 34 period moving averages. Market overview Gold continues to trade in a daily uptrend following the breach of the 1267.99 level being the swing high of the 10th December. The test of the large downward sloping trend line adds impetus to the current positive swing bias. Furthermore we have witnessed a large multi month double bottom forming which could indicate a large upside trend reversal is a possibility.  However the weekly time frame continues to point down. That the recent rejection of higher prices has come off a bounce from a downward sloping trend line and Fibonacci resistance level could indicate that the recent rally in Gold is part of a bigger cycle correction that ultimately sends Gold lower.  That Gold has experienced a strong daily time frame correction has pushed the price action into Fibonacci support and the ability or not of Fibonacci support to push Gold higher will give an indication if the bullish daily up trend or the bearish weekly down trend will win this current battle. Focus on today This morning Gold has opened quietly as the price action trades within Wednesday’s candle range. Today I am monitoring the price action for Gold to test the 34 period daily moving averages. Alternatively a failure to sustain higher prices could see Gold trade down to the 1310.00 support level.  AUDUSD http://s7.postimg.org/n8pjijfu3/audusd_daily.png Summary Thursday AUDUSD continued to trade higher as the price action closed above the 0.9390 resistance level and accelarates towards the 78.6% Fibonacci resistance level.  Market overview AUDUSD has been trading in a daily uptrend following the breach of the 0.9080 level being the swing high of the 18th February. However the weekly chart continues to trade in a weekly down trend with the price action now trading into the Fibonacci resistance area. The target for the large inverse head and shoulders pattern at 0.9535 is now within reach. Focus on today This morning AUDUSD has opened bearishly as the price action trades beneath Wednesday’s candle range. I am this morning monitoring the price action for a potential test of the 0.9535 resistance level. Alternatively if AUDUSD fails to sustain higher prices there is a possibility that AUDUSD trades back down to the 0.9390 support level.   Oil http://s7.postimg.org/412elxxij/oilusddaily.png Summary Wednesday Oil continued to trade higher as the price action closed above the 103.00 resistance level. Market overview Oil continues to trade in a daily uptrend following the breach of the 100.72 level being the swing high of the 24th December. The daily and weekly times both have a positive bias. The recent price activity has seen the price action perform a text book move by trading down to Fibonacci support and from there bouncing higher. However Oil needs to hold above the 97.35 level so as to maintain its daily uptrend. Focus on today This morning Oil has opened quietly as the price action trades within Wednesday’s candles range. Today I am monitoring the price action for a test 103.00 support level. Alternatively a failure to sustain lower prices could see Oil trade up to the 105.00 level. Quote Link to comment Share on other sites More sharing options...
Atlas CapitalFx Posted April 14, 2014 Author Report Share Posted April 14, 2014 Daily Technical Analysis 14th April 2014     EURUSD http://www.acfx.com/content/images/14.04eurusd_daily.png Summary Friday EURUSD did continue to trade higher as the price action remained above the 1.3875 level being the prior pivot high of the 24th March high. There was an attempt to trade above the significant 1.3900 level however the price action failed to maintain upside momentum above this level and ultimatley closed the day lower.. Market overview EURUSD continues to trade in a daily uptrend following the breach of the 1.3741 level being the 24th January swing high. The daily trend is now in gear with the strong weekly up trend. This price action has put the daily time frame in gear with the positive weekly trend. Furthermore the large head and shoulders pattern would appear to be invalidated by the recent bullish momentum. Focus on today This morning EURUSD has opened quietly but with a gap down from Friday’s close. I am this morning monitoring the price actions for a potential move back to averages. Alternatively if EURUSD fails to sustain lower prices there is a possibility we see a test of the 1.3900 level.   GBPUSD http://www.acfx.com/content/images/14.04gbpusd_daily.png Summary Friday GBPUSD traded lower as the price action rejected the 1.6795 resistance level which coincided with the prior high of the 17th February.  Market overview GBPUSD has traded above the 1.6668 being the prior isolated pivot high. This price activity has effectively changed the daily trend to up and puts it in line with the bullish weekly outlook. Last week’s price activity has as expected, broken the converging triangle to the upside. However Friday’s price action has seen a move back to the converging triangle and the 1.6700 level and 8 period daily moving averages which should offer a level of support. A failure to maintain upside momentum at these levels will put a significant question on the strength of the daily trend.  Focus on today This morning GBPUSD has opened quietly as the price action trades at the lows of Friday’s candle range. I am today monitoring the price action for a bounce off the 1.6700 support level. Alternatively if GBPUSD cannot sustain higher prices could see the price action trade back into the triangle formation.   USDJPY http://www.acfx.com/content/images/14.04usdjpy_daily.png Summary Friday USDJPY continued to trade under the 101.70 and at the lows of Thursday’s range. Market overview The breach of the 102.83 level being the swing high of the 21st February has effectively changed the daily trend to up and therefore putting this time frame into gear with the bullish weekly time frame. The recent price action has seen a failure of the head and shoulders pattern which confirms the current upward momentum. However USDJPY is now experiencing a strong corrective pull back. A breach of the 101.19 level being the 14th March low would change the daily trend to down. Focus on today This morning USDJPY has opened quietly with the price action trading within the previous two days candle range. Today I am monitoring USDJPY for a test of the 101.19 level being the 14th March low. Alternatively a failure to sustain lower prices could see USDJPY trade back up to the 34 period moving averages.   USDCHF http://www.acfx.com/content/images/14.04usdchf_daily.png Summary Friday USDCHF continued to trade lower but with greatley reduced momentum. Market overview USDCHF continues to trade in a negative daily and weekly swing bias but the recent price action is beginning to take on a bullish feel to it. That recent 5 day collapse off trend line resistance has invalidated the inverse head and shoulders pattern. I am therefore considering the break down from trend line and Fibonacci resistance as a resumption of the down trend. Focus on today This morning USDCHF has opened quietly as it trades at the lows of Wednesday’s candle range.  Today I am monitoring the price action to potentially move into the direction of the 13th March low. Alternatively a failure to sustain lower prices could see USDCHF trade back to its averages.    AUDUSD http://www.acfx.com/content/images/14.04audusd_daily.png Summary Thursday AUDUSD continued to trade higher as the price action closed above the 0.9390 resistance level and accelarates towards the 78.6% Fibonacci resistance level.  Market overview AUDUSD has been trading in a daily uptrend following the breach of the 0.9080 level being the swing high of the 18th February. However the weekly chart continues to trade in a weekly down trend with the price action now trading into the Fibonacci resistance area. The target for the large inverse head and shoulders pattern at 0.9535 is now within reach. Focus on today This morning AUDUSD has opened quietly as the price action trades within Fridaty’s candle range. I am this morning monitoring the price action for a potential test of the 0.9535 resistance level. Alternatively if AUDUSD fails to sustain higher prices there is a possibility that AUDUSD trades back down to the 0.9390 support level.   GOLD http://www.acfx.com/content/images/14.04xauusd_daily.png Summary Friday Gold experience a quiet day as it continued to test the 34 period moving averages. Market overview Gold continues to trade in a daily uptrend following the breach of the 1267.99 level being the swing high of the 10th December. The test of the large downward sloping trend line adds impetus to the current positive swing bias. Furthermore we have witnessed a large multi month double bottom forming which could indicate a large upside trend reversal is a possibility.  However the weekly time frame continues to point down. That the recent rejection of higher prices has come off a bounce from a downward sloping trend line and Fibonacci resistance level could indicate that the recent rally in Gold is part of a bigger cycle correction that ultimately sends Gold lower. More recently Gold has experienced a strong rally that has push the price action back into the daily averages. This area can possibly be viewed as a value area to add shorts. Notwithstanding as Gold is now approaching the large downward sloping trend line we may see the price action naturally move to this area. Focus on today This morning Gold has opened bullishly as the price action trades above the 34 period daily moving averages and last week’s range. Today I am monitoring the price action for Gold to test the 1335.00 resistance level. Alternatively a failure to sustain higher prices could see Gold trade down to the 1310.00 support level.   OIL http://www.acfx.com/content/images/14.04oilusddaily.png Summary Friday Oil continued to trade higher as the price action closed above the 103.00 resistance level. Market overview Oil continues to trade in a daily uptrend following the breach of the 100.72 level being the swing high of the 24th December. The daily and weekly times both have a positive bias. The recent price activity has seen the price action perform a text book move by trading down to Fibonacci support and from there bouncing higher. Focus on today This morning Oil has opened strongly as the price action trades tests Friday’s high candles range. Today I am monitoring the price action for a test 105.00 support level. Alternatively a failure to sustain higher prices could see Oil trade down to the 103.00 level. Quote Link to comment Share on other sites More sharing options...
Atlas CapitalFx Posted April 15, 2014 Author Report Share Posted April 15, 2014 Daily Technical Analysis 15th April 2014    EURUSD http://s1.postimg.org/djvvgavm7/eurusd_daily15_04.png Summary Monday EURUSD traded down from the 1.3900 level and ended the day bouncing moderatley off its averages. Market overview EURUSD continues to trade in a daily uptrend following the breach of the 1.3741 level being the 24th January swing high. The daily trend is now in gear with the strong weekly up trend. This price action has put the daily time frame in gear with the positive weekly trend. Furthermore the large head and shoulders pattern would appear to be invalidated by the recent bullish momentum. Focus on today This morning EURUSD has opened quietly as the price action trades within a tight range at the bottom of Monday’s candle. I am this morning monitoring the price actions for a potential downside test of the averages. Alternatively if EURUSD fails to sustain lower prices there is a possibility we see a test of the 1.3900 level.   GBPUSD http://s1.postimg.org/a92x2ogb3/gbpusd_daily15_04.png Summary Monday GBPUSD traded lower as the price action tested the 1.6700 support level and 8 period daily moving averages. Market overview GBPUSD has traded above the 1.6668 being the prior isolated pivot high. This price activity has effectively changed the daily trend to up and puts it in line with the bullish weekly outlook. Last week’s price activity has as expected, broken the converging triangle to the upside. However past two day’s price action has seen a move back to the converging triangle and the 1.6700 level and 8 period daily moving averages which should offer a level of support. A failure to maintain upside momentum at these levels will put a significant question on the strength of the daily trend. Focus on today This morning GBPUSD has opened quietly as the price action trades within Monday’s candle range. I am today monitoring the price action for a bounce off the 1.6700 support level. Alternatively if GBPUSD cannot sustain higher prices could see the price action trade further into the triangle formation.   USDJPY http://s1.postimg.org/4we2ojsen/usdjpy_daily15_04.png Summary Monday USDJPY for the 6th day continued to trade around the 101.70 and ultimatley closed slightly above this level. Market overview The breach of the 102.83 level being the swing high of the 21st February has effectively changed the daily trend to up and therefore putting this time frame into gear with the bullish weekly time frame. The recent price action has seen a failure of the head and shoulders pattern which confirms the current upward momentum. However USDJPY is now experiencing a strong corrective pull back. A breach of the 101.19 level being the 14th March low would change the daily trend to down. Focus on today This morning USDJPY has opened quietly with the price action trading at the highs of a 5 day candle range. Today I am monitoring USDJPY for a test of the 101.19 level being the 14th March low. Alternatively a failure to sustain lower prices could see USDJPY trade back up to the 34 period moving averages.   USDCHF http://s1.postimg.org/p6fzhfixb/usdchf_daily15_04.png Summary Monday USDCHF experienced a corrective up day as the price action close above Friday’s candle range.  Market overview USDCHF continues to trade in a negative daily and weekly swing bias but the recent price action is beginning to take on a bullish feel to it. That recent 5 day collapse off trend line resistance has invalidated the inverse head and shoulders pattern. I am therefore considering the break down from trend line and Fibonacci resistance as a resumption of the down trend. Focus on today This morning USDCHF has opened bullishly as it trades above Monday’s candle range.  Today I am monitoring the price action to see if USDCHF can potentially trade back to its averages.  Alternatively a failure to sustain higher prices could possibly see a move into the direction of the 13th March low.    Gold http://s1.postimg.org/wigu98brj/xauusd_daily15_04.png Summary Monday Gold traded higher as the price action tested the 34 period daily moving averages. Market overview Gold continues to trade in a daily uptrend following the breach of the 1267.99 level being the swing high of the 10th December. The test of the large downward sloping trend line adds impetus to the current positive swing bias. Furthermore we have witnessed a large multi month double bottom forming which could indicate a large upside trend reversal is a possibility.  However the weekly time frame continues to point down. That the recent rejection of higher prices has come off a bounce from a downward sloping trend line and Fibonacci resistance level could indicate that the recent rally in Gold is part of a bigger cycle correction that ultimately sends Gold lower.  More recently Gold has experienced a strong rally that has push the price action back into the daily averages. This area can possibly be viewed as a value area to add shorts. Notwithstanding as Gold is now approaching the large downward sloping trend line we may see the price action naturally be drawn to this area. Focus on today This morning Gold has opened bearishly as the price action tests the lows of Monday’s candle range. Today I am monitoring the price action for Gold to test the 1335.00 resistance level. Alternatively a failure to sustain higher prices could see Gold trade down to the 1310.00 support level.  AUDUSD http://s1.postimg.org/eaolm2xzj/audusd_daily15_04.png Summary Monday AUDUSD continued to traded at the 0.9390 resistance level.  Market overview AUDUSD has been trading in a daily uptrend following the breach of the 0.9080 level being the swing high of the 18th February. However the weekly chart continues to trade in a weekly down trend with the price action now trading into the Fibonacci resistance area. The target for the large inverse head and shoulders pattern at 0.9535 is now within reach. Focus on today This morning AUDUSD has opened bearishly as the price action tests the lows of Monday’s candle range. I am this morning monitoring the price action for a potential test of the 0.9535 resistance level. Alternatively if AUDUSD fails to sustain higher prices there is a possibility that AUDUSD trades back down to the 0.9390 support level.    Oil http://s1.postimg.org/kltt2hz7z/oilusddaily15_04.png Summary Monday Oil traded marginally higher but closed slightly above its opening pricec and above the 103.00 support level. Market overview Oil continues to trade in a daily uptrend following the breach of the 100.72 level being the swing high of the 24th December. The daily and weekly times both have a positive bias. The recent price activity has seen the price action perform a text book move by trading down to Fibonacci support and from there bouncing higher.  Focus on today This morning Oil has opened quietly as the price action trades within Monday’s candles range. Today I am monitoring the price action for a test 105.00 resistance level. Alternatively a failure to sustain higher prices could see Oil trade down to the 103.00 support level. Quote Link to comment Share on other sites More sharing options...
Atlas CapitalFx Posted April 16, 2014 Author Report Share Posted April 16, 2014 Daily Technical Analysis 16th April 2014    EURUSD http://s13.postimg.org/s71z66cs7/eurusd_daily.png  Summary Tuesday EURUSD traded around its averages in what was a news driven small range but volatile days trading. Market overview EURUSD continues to trade in a daily uptrend following the breach of the 1.3741 level being the 24th January swing high. The daily trend is now in gear with the strong weekly up trend. This price action has put the daily time frame in gear with the positive weekly trend. Furthermore the large head and shoulders pattern would appear to be invalidated by the recent bullish momentum. Focus on today This morning EURUSD has opened bullishly as the price action tests the high of Tuesday’s candle. I am this morning monitoring the price actions for a potential upside move to the 1.3900 level. Alternatively if EURUSD fails to sustain higher prices there is a possibility we see a test of trend line support.   GBPUSD http://s13.postimg.org/dqeprlnav/gbpusd_daily.png  Summary Tuesday GBPUSD traded through the 1.6700 level but found support at the 34 period daily moving averages. Market overview GBPUSD has traded above the 1.6668 being the prior isolated pivot high. This price activity has effectively changed the daily trend to up and puts it in line with the bullish weekly outlook. Last week’s price activity has as expected, broken the converging triangle to the upside. However past two day’s price action has seen a move back to the converging triangle and the 1.6700 level and 8 period daily moving averages which should offer a level of support. A failure to maintain upside momentum at these levels will put a significant question on the strength of the daily trend. Focus on today This morning GBPUSD has opened quietly as the price action trades at the highs of Tuesday’s candle range. I am today monitoring the price action for a bounce off the 1.6700 support level. Alternatively if GBPUSD cannot sustain higher prices could see the price action retest the 34 period daily moving averages.   USDJPY http://s13.postimg.org/qyioyaa7r/usdjpy_daily.png   Summary Tuesday USDJPY for the 6th day continued to trade in a range around the 101.70 support level. Market overview The breach of the 102.83 level being the swing high of the 21st February has effectively changed the daily trend to up and therefore putting this time frame into gear with the bullish weekly time frame. The recent price action has seen a failure of the head and shoulders pattern which confirms the current upward momentum. However USDJPY is now experiencing a strong corrective pull back. A breach of the 101.19 level being the 14th March low would change the daily trend to down. Focus on today This morning USDJPY has opened strongly as the price action trades above the highs of Tuesday’s candle range. Today I am monitoring USDJPY for a test of the 34 period daily moving averages. Alternatively a failure to sustain higher prices could see USDJPY retest the 101.70 support level.   USDCHF http://s13.postimg.org/p1hdfyu5z/usdchf_daily.png   Summary Tuesday USDCHF continued to correct to the upside as the price action traded back to its averages.  Market overview USDCHF continues to trade in a negative daily and weekly swing bias but the recent price action is beginning to take on a bullish feel to it. That recent 5 day collapse off trend line resistance has invalidated the inverse head and shoulders pattern. I am therefore considering the break down from trend line and Fibonacci resistance as a resumption of the down trend. Focus on today This morning USDCHF has opened quietly as it trades within Tuesday’s candle range.  Today I am monitoring the price action to see if USDCHF can potentially bounce lower of the averages and take out the 0.8743 level being the 11th April pivot low.  Alternatively a failure to sustain lower prices could possibly see a test of the averages and move towards the down trend line.   Gold http://s13.postimg.org/fxiyfisl3/xauusd_daily.png Summary Tuesday Gold broke down from its averages as the price action slashed traded higher as the price action tested the 34 period daily moving averages. Market overview Gold continues to trade in a daily uptrend following the breach of the 1267.99 level being the swing high of the 10th December. The test of the large downward sloping trend line adds impetus to the current positive swing bias. Furthermore we have witnessed a large multi month double bottom forming which could indicate a large upside trend reversal is a possibility.  However the weekly time frame continues to point down. That the recent rejection of higher prices has come off a bounce from a downward sloping trend line and Fibonacci resistance level could indicate that the recent rally in Gold is part of a bigger cycle correction that ultimately sends Gold lower.  More recently Gold has experienced a strong rally that has push the price action back into the daily averages. This area can possibly be viewed as a value area to add shorts. Notwithstanding as Gold is now approaching the large downward sloping trend line we may see the price action naturally be drawn to this area. Focus on today This morning Gold has opened quietly as the price action trades at the lows of Tuesday’s candle range. Today I am monitoring the price action for Gold to test the 50% Fibonacci support level. Alternatively a failure to sustain lower prices could see Gold to bounce off Fibonacci support and trade up to the 1335.00 resistance level.    AUDUSD http://s13.postimg.org/pgsn8zg3b/audusd_daily.png Summary Tuesday AUDUSD continued broke below the 0.9390 resistance level and traded down to the 8 period daily moving averages.  Market overview AUDUSD has been trading in a daily uptrend following the breach of the 0.9080 level being the swing high of the 18th February. However the weekly chart continues to trade in a weekly down trend with the price action now trading into the Fibonacci resistance area. The target for the large inverse head and shoulders pattern at 0.9535 is now within reach. Focus on today This morning AUDUSD has opened bearishly with the price auctioning already testing the lows of Tuesday’s candle range. I am this morning monitoring the price action for a potential move beneath the low of Tuesday’s candle range and move into the direction of the 34 period daily moving averages. Alternatively if AUDUSD fails to sustain lower prices there is a possibility that AUDUSD trades back above the 0.9390 level.  Oil http://s13.postimg.org/m4ucfooc7/oilusddaily.png Summary Tuesday Oil traded tested the the 103.00 support level but failed to sustain a move lower. Market overview Oil continues to trade in a daily uptrend following the breach of the 100.72 level being the swing high of the 24th December. The daily and weekly times both have a positive bias. The recent price activity has seen the price action perform a text book move by trading down to Fibonacci support and from there bouncing higher.  Focus on today This morning Oil has opened quietly as the price action trades within Tuesday’s candles range. Today I am monitoring the price action for a test 105.00 resistance level. Alternatively a failure to sustain higher prices could see Oil trade down to the 103.00 support level. Quote Link to comment Share on other sites More sharing options...
Atlas CapitalFx Posted April 17, 2014 Author Report Share Posted April 17, 2014 Daily Technical Analysis 17th April 2014     EURUSD http://s15.postimg.org/pgayj9owb/17_04eurusd_daily.png Summary Wednesday EURUSD experienced a fairly volatile session as the price action pivoted around its moving averages. Market overview EURUSD continues to trade in a daily uptrend following the breach of the 1.3741 level being the 24th January swing high. The daily trend is now in gear with the strong weekly up trend. This price action has put the daily time frame in gear with the positive weekly trend. Furthermore the large head and shoulders pattern would appear to be invalidated by the recent bullish momentum. Focus on today This morning EURUSD has opened bullishly as the price action tests the high of Wednesday’s candle. I am this morning monitoring the price actions for a potential upside move to the 1.3900 level. Alternatively if EURUSD fails to sustain higher prices there is a possibility we see a test of trend line support.   GBPUSD http://s15.postimg.org/hso20yq8b/17_04gbpusd_daily.png Summary Wednesday GBPUSD traded spiked through the 1.6795 level as the price action bounced off its averages. Market overview GBPUSD has traded above the 1.6668 being the prior isolated pivot high. This price activity has effectively changed the daily trend to up and puts it in line with the bullish weekly outlook. Last week’s price activity has as expected, broken the converging triangle to the upside. Following a corrective move back into the averages the price action appears to have resumed its upward trend. Focus on today This morning GBPUSD has opened bullishly as the price action trades above the 1.6822 level being the 17th February pivot high. I am today monitoring the price action for a close above the 1.6822 level being the 17th February pivot high prior to a continuation of the move to the 1.6895 resistance level. Alternatively if GBPUSD cannot sustain higher prices could see the price action retest the 1.6700 support level.   USDJPY http://s15.postimg.org/5gl5nh2dn/17_04usdjpy_daily.png Summary Wednesday USDJPY bounced higher as the price action closed above the 5 day range. Market overview The breach of the 102.83 level being the swing high of the 21st February has effectively changed the daily trend to up and therefore putting this time frame into gear with the bullish weekly time frame. The recent price action has seen a failure of the head and shoulders pattern which confirms the current upward momentum. Following the corrective pull back it would appear that USDJPY has resumed its upward trend. Focus on today This morning USDJPY has opened negatively as the price action trades within Wednesday’s candle range. Today I am monitoring USDJPY for a test of the 34 period daily moving averages. Alternatively a failure to sustain higher prices could see USDJPY retest the 101.70 support level.   USDCHF http://s15.postimg.org/jgn7fm43v/17_04usdchf_daily.png Summary Wednesday USDCHF continued to correct to the upside as the price action closed above its averages.  Market overview USDCHF continues to trade in a negative daily and weekly swing bias but the recent price action is beginning to take on a bullish feel to it. That recent 5 day collapse off trend line resistance has invalidated the inverse head and shoulders pattern. I am therefore considering the break down from trend line and Fibonacci resistance as a resumption of the down trend. Focus on today This morning USDCHF has opened negativley as it trades within Wednesday’s candle range.  Today I am monitoring the price action to see if USDCHF can potentially bounce lower of the averages and take out the 0.8743 level being the 11th April pivot low.  Alternatively a failure to sustain lower prices could possibly see a test of the averages and move towards the down trend line.   Gold http://s15.postimg.org/eqx9r0d3f/17_04xauusd_daily.png Summary Wednesday Gold traded for the entire session at the lows of Tuesday’s candle range. Market overview Gold continues to trade in a daily uptrend following the breach of the 1267.99 level being the swing high of the 10th December. The test of the large downward sloping trend line adds impetus to the current positive swing bias. Furthermore we have witnessed a large multi month double bottom forming which could indicate a large upside trend reversal is a possibility.  However the weekly time frame continues to point down. That the recent rejection of higher prices has come off a bounce from a downward sloping trend line and Fibonacci resistance level could indicate that the recent rally in Gold is part of a bigger cycle correction that ultimately sends Gold lower.  More recently Gold has experienced a strong rally that has push the price action back into the daily averages. This area can possibly be viewed as a value area to add shorts. Notwithstanding as Gold is now approaching the large downward sloping trend line we may see the price action naturally be drawn to this area. Focus on today This morning Gold has opened quietly as the price action trades within Wednesday’s candle range. Today I am monitoring the price action for Gold to test the 50% Fibonacci support level. Alternatively a failure to sustain lower prices could see Gold to bounce off Fibonacci support and trade up to the 1335.00 resistance level.  AUDUSD http://s15.postimg.org/69xrg38ej/17_04audusd_daily.png Summary Wednesday AUDUSD found support at the 8 period daily moving averages.  Market overview AUDUSD has been trading in a daily uptrend following the breach of the 0.9080 level being the swing high of the 18th February. However the weekly chart continues to trade in a weekly down trend with the price action now trading into the Fibonacci resistance area. The target for the large inverse head and shoulders pattern at 0.9535 is now within reach. Focus on today This morning AUDUSD has opened bearishly with the price action trading within Wednesday’s candle range. I am this morning monitoring the price action for a potential move beneath the low of Wednesday’s candle range and move into the direction of the 34 period daily moving averages. Alternatively if AUDUSD fails to sustain lower prices there is a possibility that AUDUSD trades back above the 0.9390 level.   Oil http://s15.postimg.org/rr90nfznv/17_04oilusddaily.png Summary Wednesday Oil traded tested and bounce higher off the 103.00 support level and 8 period daily moving averages. Market overview Oil continues to trade in a daily uptrend following the breach of the 100.72 level being the swing high of the 24th December. The daily and weekly times both have a positive bias. The recent price activity has seen the price action perform a text book move by trading down to Fibonacci support and from there bouncing higher.  Focus on today This morning Oil has opened bulllishly as the price action trades within Wednesday’s candles range. Today I am monitoring the price action for a test 105.00 resistance level. Alternatively a failure to sustain higher prices could see Oil trade down to the 103.00 support level. Quote Link to comment Share on other sites More sharing options...
Atlas CapitalFx Posted April 22, 2014 Author Report Share Posted April 22, 2014 Daily Technical Analysis 22nd April 2014    EURUSD http://s13.postimg.org/5yw5o2ap3/22_04eurusd_daily.png Summary Monday EURUSD traded in a fairly small bank holiday range as the price action tested the 1.3789 level being the low of the 15th April. Market overview EURUSD continues to trade in a daily uptrend following the breach of the 1.3741 level being the 24th January swing high. The daily trend is now in gear with the strong weekly up trend. This price action has put the daily time frame in gear with the positive weekly trend. Furthermore the large head and shoulders pattern would appear to be invalidated by the recent bullish momentum. Focus on today This morning EURUSD has opened quietly as the price action tests the lows of Monday’s candle. I am this morning monitoring the price actions for a potential test of the 1.3789 level being the low of the 15th April. Alternatively if EURUSD fails to sustain lower prices there is a possibility we see a breach of the averages and a test of last week’s high of 1.3864.   GBPUSD http://s13.postimg.org/x87j2kbs7/22_04gbpusd_daily.png Summary Monday GBPUSD experienced a quiet day’s trading as the price action hovered around the 1.6795 level. Market overview GBPUSD has traded above the 1.6668 being the prior isolated pivot high. This price activity has effectively changed the daily trend to up and puts it in line with the bullish weekly outlook. Last week’s price activity has as expected, broken the converging triangle to the upside. Following a corrective move back into the averages the price action appears to have resumed its upward trend. Focus on today This morning GBPUSD has opened quietly as the price action tests the 1.6795 level.  I am today monitoring the price action for a close above the 1.6822 level being the 17th February pivot high prior to a continuation of the move to the 1.6895 resistance level. Alternatively if GBPUSD cannot sustain higher prices could see the price action retest the 1.6700 support level.    USDJPY http://s13.postimg.org/76a3ga0tj/22_04usdjpy_daily.png Summary Monday USDJPY continued to trade higher as the price action closed above the averages. Market overview The breach of the 102.83 level being the swing high of the 21st February has effectively changed the daily trend to up and therefore putting this time frame into gear with the bullish weekly time frame. The recent price action has seen a failure of the head and shoulders pattern which confirms the current upward momentum. Following the corrective pull back it would appear that USDJPY has resumed its upward trend. Focus on today This morning USDJPY has opened negatively as the price action trades within Monday’s candle range. Today I am monitoring USDJPY for a test of the 103.00 resistance level.  Alternatively a failure to sustain higher prices could see USDJPY retest the 101.70 support level.   USDCHF http://s13.postimg.org/cvqc0l6zr/22_04usdchf_daily.png Summary Monday USDCHF continued to correct to the upside as the price action closed above its averages.  Market overview USDCHF continues to trade in a negative daily and weekly swing bias but the recent price action is beginning to take on a bullish feel to it. That recent 5 day collapse off trend line resistance has invalidated the inverse head and shoulders pattern. However we require a breach of the 0.8743 level being the last isolated low of the 11th April to confirm that the down trend is intact. Focus on today This morning USDCHF has opened quietly as it trades within Monday’s candle range.  Today I am monitoring the price action to see if USDCHF can potentially test the downward sloping trend line.  Alternatively a failure to sustain higher prices could possibly see a resumption of the daily down trend.    Gold http://s13.postimg.org/7lld9amqv/22_04xauusd_daily.png Summary Monday Gold traded in a fairly volatile sessionas the price action tested Fibonacci support. Market overview Gold continues to trade in a daily uptrend following the breach of the 1267.99 level being the swing high of the 10th December. The test of the large downward sloping trend line adds impetus to the current positive swing bias. Furthermore we have witnessed a large multi month double bottom forming which could indicate a large upside trend reversal is a possibility.  However the weekly time frame continues to point down. That the recent rejection of higher prices has come off a bounce from a downward sloping trend line and Fibonacci resistance level could indicate that the recent rally in Gold is part of a bigger cycle correction that ultimately sends Gold lower.  More recently Gold has experienced a strong rally that has push the price action back into the daily averages. This area can possibly be viewed as a value area to add shorts. Notwithstanding as Gold is now approaching the large downward sloping trend line we may see the price action naturally be drawn to this area. Focus on today This morning Gold has opened quietly as the price action trades within Monday’s candle range. Today I am monitoring the price action for Gold to test the 50% Fibonacci support level. Alternatively a failure to sustain lower prices could see Gold to bounce off Fibonacci support and trade up to the 1310.00 resistance level.  AUDUSD http://s13.postimg.org/439dcwluv/22_04audusd_daily.png Summary Monday AUDUSD traded in a narrow range under the 8 period daily moving averages.  Market overview AUDUSD has been trading in a daily uptrend following the breach of the 0.9080 level being the swing high of the 18th February. However the weekly chart continues to trade in a weekly down trend with the price action now trading into the Fibonacci resistance area. The target for the large inverse head and shoulders pattern at 0.9535 is now within reach. Focus on today This morning AUDUSD has opened bullishly with the price action tests the 8 period daily moving averages.  I am this morning monitoring the price action for a potential move beneath the low of Monday’s candle range and move into the direction of the 34 period daily moving averages. Alternatively if AUDUSD fails to sustain lower prices there is a possibility that AUDUSD trades back above the 0.9390 level.  Oil http://s13.postimg.org/czk5guch3/22_04oilusddaily.png Summary Monday Oil traded lower as the price acton tested the 103.00 support level. Market overview Oil continues to trade in a daily uptrend following the breach of the 100.72 level being the swing high of the 24th December. The daily and weekly times both have a positive bias. The recent price activity has seen the price action perform a text book move by trading down to Fibonacci support and from there bouncing higher.  Focus on today This morning Oil has opened quietly as the price action trades within Monday’s candles range. Today I am monitoring the price action for a test 105.00 resistance level. Alternatively a failure to sustain higher prices could see Oil trade down to the 103.00 support level. Quote Link to comment Share on other sites More sharing options...
Atlas CapitalFx Posted April 23, 2014 Author Report Share Posted April 23, 2014 Daily Technical Analysis 23rd April 2014      EURUSD http://s30.postimg.org/5vj567kg1/23_04eurusd_daily.png  Summary Tuesday EURUSD continued to trade in smallish range with the price action testing but not able to close beneath the 1.3789 level being the low of the 15th April. Market overview EURUSD continues to trade in a daily uptrend following the breach of the 1.3741 level being the 24th January swing high. The daily trend is now in gear with the strong weekly up trend.  Focus on today This morning EURUSD has been trading with a volatile range that has seen the price action trade above the averages. I am this morning monitoring the price actions for a potential test of the 1.3789 level being the low of the 15th April. Alternatively if EURUSD fails to sustain lower prices there is a possibility we see a breach of the averages and a test of last week’s high of 1.3864.   GBPUSD http://s30.postimg.org/4cnr18dvl/23_04gbpusd_daily.png Summary Tuesday GBPUSD continued to trade above the the 1.6795 level. Market overview GBPUSD has traded above the 1.6668 being the prior isolated pivot high. This price activity has effectively changed the daily trend to up and puts it in line with the bullish weekly outlook. Last week’s price activity has as expected, broken the converging triangle to the upside. Following a corrective move back into the averages the price action appears to have resumed its upward trend. Focus on today This morning GBPUSD has opened quietly as the price trades within yesterday’s candle ranges. I am today monitoring the price action for a close above the 1.6822 level being the 17th February pivot high prior to a continuation of the move to the 1.6895 resistance level. Alternatively if GBPUSD cannot sustain higher prices could see the price action retest the 1.6700 support level.   USDJPY http://s30.postimg.org/dzr9ay6v5/23_04usdjpy_daily.png Summary Tuesday USDJPY traded marginally higher but ultimatley the price action closed just below its opening price. Market overview The breach of the 102.83 level being the swing high of the 21st February has effectively changed the daily trend to up and therefore putting this time frame into gear with the bullish weekly time frame. The recent price action has seen a failure of the head and shoulders pattern which confirms the current upward momentum. Following the corrective pull back it would appear that USDJPY has resumed its upward trend. Focus on today This morning USDJPY has opened quietly as the price action trades within Tuesday’s candle range. Today I am monitoring USDJPY for a test of the 103.00 resistance level.  Alternatively a failure to sustain higher prices could see USDJPY retest the 101.70 support level.   USDCHF http://s30.postimg.org/fmggw6iwx/23_04usdchf_daily.png Summary Tuesday USDCHF traded marginally higher but ultimatley the price action closed just above its opening price.  Market overview USDCHF continues to trade in a negative daily and weekly swing bias but the recent price action is beginning to take on a bullish feel to it. That recent 5 day collapse off trend line resistance has invalidated the inverse head and shoulders pattern. However we require a breach of the 0.8743 level being the last isolated low of the 11th April to confirm that the down trend is intact. Focus on today This morning USDCHF has opened quietly as it trades within Tuesday’s candle range.  Today I am monitoring the price action to see if USDCHF can potentially test the downward sloping trend line.  Alternatively a failure to sustain higher prices could possibly see a resumption of the daily down trend.   Gold http://s30.postimg.org/xk5sdq7gh/23_04xauusd_daily.png Summary Tuesday Gold continued to trade lower and tested the 1277 level being the 1st April low. Market overview Yesterdays breach of the 1277 level being the 1st April low has technically changed the daily trend to down. This puts the daily trend in gear with the weekly down trend. However we have witnessed a large multi month double bottom forming which could indicate a large upside trend reversal is a possibility.  Focus on today This morning Gold has opened quietly as the price action trades within Tuesday’s candle range. Today I am monitoring the price action for Gold to retest the 1277 level being the 1st April low. Alternatively a failure to sustain lower prices could see Gold to bounce off Fibonacci support and trade up to the 1310.00 resistance level.  AUDUSD http://s30.postimg.org/5nqwvyk3l/23_04audusd_daily.png Summary Tuesday AUDUSD traded higher as the price action tested the the 8 period daily moving averages.  Market overview AUDUSD has been trading in a daily uptrend following the breach of the 0.9080 level being the swing high of the 18th February. However the weekly chart continues to trade in a weekly down trend with the price action now trading into the Fibonacci resistance area. The target for the large inverse head and shoulders pattern at 0.9535 is now within reach. Focus on today This morning AUDUSD has opened bearishly as the price trades beneath last week’s low.  I am this morning monitoring the price action for a potential continuation of the downside momentum and move into the direction of the 34 period daily moving averages. Alternatively if AUDUSD fails to sustain lower prices there is a possibility that AUDUSD trades back above the 0.9390 level.   Oil http://s30.postimg.org/kmdx44ojl/23_04oilusddaily.png Summary Tuesday Oil traded lower as the price acton tested the 103.00 support level. Market overview Oil continues to trade in a daily uptrend following the breach of the 100.72 level being the swing high of the 24th December. The daily and weekly times both have a positive bias. The recent price activity has seen the price action perform a text book move by trading down to Fibonacci support and from there bouncing higher.  Focus on today This morning Oil has opened bearishly as the price action moves into the direction of the 34 period daily moving averages. Today I am monitoring the price action for a test 34 period daily moving averages. Alternatively a failure to sustain lower prices could see Oil trade back up to the 103.00 level. Quote Link to comment Share on other sites More sharing options...
Atlas CapitalFx Posted April 25, 2014 Author Report Share Posted April 25, 2014 Daily Technical Analysis 25th April 2014       EURUSD http://s30.postimg.org/6ihi7hnj5/25_04eurusddaily.png  Summary Thursday EURUSD experienced a mixed day as the price action spiked above and below its averages. Market overview EURUSD continues to trade in a daily uptrend following the breach of the 1.3741 level being the 24th January swing high. The daily trend is now in gear with the strong weekly up trend.  Focus on today This morning EURUSD has opened quietley as the price action trades within Thursday’s candle range. I am this morning monitoring the price actions for a potential test of Thursday’s high. Alternatively if EURUSD fails to sustain higher prices there is a possibility we see a move back to the range of this week’s low.   GBPUSD http://s30.postimg.org/vltzdqvs1/25_04gbpusd_daily.png Summary Thursday GBPUSD continued to trade around the 1.6795 level and 8 period moving averages. Market overview GBPUSD has traded above the 1.6668 being the prior isolated pivot high. This price activity has effectively changed the daily trend to up and puts it in line with the bullish weekly outlook. The recent price activity has as expected, broken the converging triangle to the upside. Following a corrective move back into the averages the price action appears to have resumed its upward trend. Focus on today This morning GBPUSD has opened quietly as the price trades within Thursday’s candle ranges. I am today monitoring the price action for a close above the 1.6822 level being the 17th February pivot high prior to a continuation of the move to the 1.6895 resistance level. Alternatively if GBPUSD cannot sustain higher prices could see the price action retest the 1.6700 support level.   USDJPY http://s30.postimg.org/a0ti3vof5/25_04usdjpy_daily.png Summary Thursday USDJPY traded lower as the price action attempted but failed to close beneath Wednesday’s candle range. Market overview The breach of the 102.83 level being the swing high of the 21st February has effectively changed the daily trend to up and therefore putting this time frame into gear with the bullish weekly time frame. Following the corrective pull back it would appear that USDJPY has resumed its upward trend. Focus on today This morning USDJPY has opened quietly as the price action trades within Thursday’s candle range. Today I am monitoring USDJPY for a test of the 103.00 resistance level.  Alternatively a failure to sustain higher prices could see USDJPY retest the 101.70 support level.   USDCHF http://s30.postimg.org/ueg1lj5nl/25_04usdchf_daily.png Summary Thursday USDCHF traded lower as the price action attempted but failed to close beneath Wednesday’s candle range.  Market overview USDCHF continues to trade in a negative daily and weekly swing bias but the recent price action is beginning to take on a bullish feel to it. That recent price activity has seen USDCHF back up to the downward slopping trend line. However it appears that higher prices have been rejected and there has been a resumption of the down trend. A breach of the 0.8743 level being the last isolated low of the 11th April to confirm that the down trend is intact. Focus on today This morning USDCHF has opened quietly as it trades within Thursday’s candle range.  Today I am monitoring the price action to see if USDCHF can move in the direction of the 0.8743 level being the last isolated low of the 11th April to confirm that the down trend is intact.  Alternatively a failure to sustain lower prices could possible retest of the upward sloping trend line.    Gold http://s30.postimg.org/o20wbp2ld/25_04xauusd_daily.png Summary Thursday Gold traded strongly higher as the price action rejected the 1270.00 support level and closed back at the 8 period moving averages. Market overview The breach of the 1277 level being the 1st April low has technically changed the daily trend to down. This puts the daily trend in gear with the weekly down trend. However yesterday’s strong rejection of the 1270.00 support level could indicate that the recent change of trend to down is a bear trap which could potentially be followed by an appreciation in the value of Gold. Focus on today This morning Gold has opened quietly as the price action trades at the highs Thursday’s candle range. Today I am monitoring the price action for Gold to test the 1310.00 resistance level.  Alternatively a failure to sustain higher prices could see Gold reject the 8 period daily moving averages and lead to a retest of the 1270.00 support level.    AUDUSD http://s30.postimg.org/7n6yz4km9/25_04audusd_daily.png Summary Thursday AUDUSD continued to trade lower as the price action moved into the direction of the 34 period daily moving averages. Market overview AUDUSD has been trading in a daily uptrend following the breach of the 0.9080 level being the swing high of the 18th February. However the weekly chart continues to trade in a weekly down trend with the price action now correcting lower following a rejection of the Fibonacci resistance area.  Focus on today This morning AUDUSD has opened quietly as the price trades at the lows of Thursday’s candle range. I am this morning monitoring the price action for a potential continuation of the downside momentum and move into the direction of the 34 period daily moving averages. Alternatively if AUDUSD fails to sustain lower prices there is a possibility that AUDUSD trades back above the 0.9390 level.  Oil http://s30.postimg.org/66vggzhpd/25_04oilusddaily.png  Summary Thursday Oil experienced a quiet day as the price action hovered above the 34 period daily moving averages. Market overview Oil continues to trade in a daily uptrend following the breach of the 100.72 level being the swing high of the 24th December. The daily and weekly times both have a positive bias.  However the recent price action has seen a move back down to the 34 period daily moving averages which could be viewed as a possible value area to add longs.  Focus on today This morning Oil has opened quietly as the price action trades within Thursday’s candle range. Today I am monitoring the price action for a test 34 period daily moving averages. Alternatively a failure to sustain lower prices could see Oil trade back up to the 103.00 level. Quote Link to comment Share on other sites More sharing options...
Atlas CapitalFx Posted April 30, 2014 Author Report Share Posted April 30, 2014 Daily Technical Analysis 30th April 2014      EURUSD http://www.acfx.com/content/images/30.04eurusddaily.png   Summary Tuesday EURUSD broke down from the previous days high as the price action traded down to its averages. Market overview EURUSD continues to trade in a daily uptrend following the breach of the 1.3741 level being the 24th January swing high. The daily trend is now in gear with the strong weekly up trend. Focus on today This morning EURUSD has opened quietly as the price action trades at the lows of Tuesday’s candle range. I am this morning monitoring the price action for a potential test of this week high. Alternatively if EURUSD fails to sustain higher prices there is a possibility we see a move back to the averages.   GBPUSD http://www.acfx.com/content/images/30.04gbpusd_daily.png  Summary Tuesday GBPUSD traded within Monday’s candle range. Market overview GBPUSD has traded above the 1.6668 being the prior isolated pivot high. This price activity has effectively changed the daily trend to up and puts it in line with the bullish weekly outlook. The recent price activity has as expected, broken the converging triangle to the upside with GBPUSD now trading at the 8 period moving averages. Focus on today This morning GBPUSD has opened quietly as the price trades within Tuesday’s candle ranges. I am today monitoring the price action for a close above the 1.6822 level being the 17th February pivot high prior to a continuation of the move to the 1.6895 resistance level. Alternatively if GBPUSD cannot sustain higher prices could see the price action retest the 1.6700 support level.   USDJPY http://www.acfx.com/content/images/30.04usdjpy_daily.png Summary Tuesday USDJPY traded higher as the price action closed above the averages. Market overview The breach of the 102.83 level being the swing high of the 21st February has effectively changed the daily trend to up and therefore putting this time frame into gear with the bullish weekly time frame. Following the corrective pull back it would appear that USDJPY has resumed its upward trend. Focus on today This morning USDJPY has opened bearishly as the price action trades beneath the low of Tuesday’s candle range. Today I am monitoring USDJPY for a test of the 103.00 resistance level. Alternatively a failure to sustain higher prices could see USDJPY retest the 101.70 support level.   USDCHF http://www.acfx.com/content/images/30.04usdchf_daily.png  Summary Tuesday USDCHF traded higher as the price action tested the downward sloping trend line. Market overview USDCHF continues to trade in a negative daily and weekly swing bias but the recent price action is beginning to take on a bullish feel to it. That recent price activity has seen USDCHF back up to the downward slopping trend line. However it appears that higher prices have been rejected and there has been a resumption of the down trend. A breach of the 0.8743 level being the last isolated low of the 11th April to confirm that the down trend is intact. Focus on today This morning USDCHF has opened quietly as it trades within Tuesday’s candle range. Today I am monitoring the price action to see if USDCHF can test the upward sloping trend line. Alternatively a failure to sustain higher prices could see USDCHF possibly move in the direction of the 0.8743 level being the last isolated low of the 11th April to confirm that the down trend is intact.   AUDUSD http://www.acfx.com/content/images/30.04audusd_daily.png Summary Tuesday AUDUSD tested the 34 period daily moving averages. However by the end of business AUDUSD have paired its losses and closed higher. Market overview AUDUSD has been trading in a daily uptrend following the breach of the 0.9080 level being the swing high of the 18th February. However the weekly chart continues to trade in a down trend with the price action now correcting lower following a rejection of the Fibonacci resistance area. Focus on today This morning AUDUSD has opened positively as the price trades at the above Tuesday’s candle range. I am this morning monitoring the price action for a potential test of the 8 period daily moving averages. Alternatively if AUDUSD fails to sustain higher prices there is a possibility that AUDUSD trades back to the 34 period daily moving averages.    GOLD http://www.acfx.com/content/images/30.04xauusd_daily.png Summary Tuesday Gold spiked beneath the 8 period daily moving averages however ultimatley closed at its open. Market overview The breach of the 1277 level being the 1st April low has technically changed the daily trend to down. This puts the daily trend in gear with the weekly down trend. However the recent strong rejection of the 1270.00 support level could indicate that the recent change of trend to down is a bear trap which could potentially be followed by an appreciation in the value of Gold. Focus on today This morning Gold has opened quietly as the price action trades at the lows Tuesday’s candle range. Today I am monitoring the price action for Gold to test the 1310.00 resistance level. Alternatively a failure to sustain higher prices could see Gold reject the 8 period daily moving averages and lead to a retest of the 1270.00 support level.   OIL http://www.acfx.com/content/images/30.04oilusddaily.png  Summary Tuesday Oil spiked higher and tested the 8 period moving averages. However the price action was not able to sustain higher and ultimatley closed the day lower. Market overview Oil continues to trade in a daily uptrend following the breach of the 100.72 level being the swing high of the 24th December. The daily and weekly times both have a positive bias. The recent price action has seen a move back down to the 34 period daily moving averages which could be viewed as a possible value area to add longs. Focus on today This morning Oil has opened negatively as the price action trades beneath Tuesday’s candle range. Today I am monitoring the price action for a test of the 100 level. Alternatively a failure to sustain lower prices could see Oil trade back up to the averages. Quote Link to comment Share on other sites More sharing options...
Atlas CapitalFx Posted May 5, 2014 Author Report Share Posted May 5, 2014 Daily Technical Analysis 5th May 2014    EURUSD http://s12.postimg.org/jc8o43xx9/05_05eurusd_daily.png  Summary Friday EURUSD spent most of the London session trading in a tight range as the market awaited the Non Farm Payroll data. The better than expected numbers intially had the impact of EURUSD breaking lower as the price action penetrate under its expected lower range boundary and testedm the 34 period daily moving averages. However at these level buyers came into the market as EURUSD paired all the losses for the day and eventually closed marginally higher. Market overview EURUSD continues to trade in a daily uptrend following the breach of the 1.3741 level being the 24th January swing high. The daily trend is now in gear with the strong weekly up trend.  With Friday’s price action closed slightly above trend line resistance I will be monitoring EURUSD for further upside momentum. Focus on today This morning EURUSD has opened quietely as the price action trades at the highss of Thurday’s candle range. I am this morning monitoring the price action for a potential test of the 1.3900 resistance level. Alternatively if EURUSD fails to sustain higher prices there is a possibility we see a move back to the prior broken down trend line.   GBPUSD http://s12.postimg.org/cx9n7fr7h/05_05gbpusd_daily.png Summary Friday GBPUSD initially spiked lowed as the price action penetrated the 8 period daily moving averages and tested the 1.6795 support level. However by the closed of business GBPUSD had paired the majority of its lossess and closed slightly down on the day.  Market overview GBPUSD continues to trade in a daily and weekly uptrend with the price action having recently broken a large converging triangle. The 8 period daily moving averages appear to be offering strong support to the current up move. Focus on today This morning GBPUSD has opened quietly as the price trades within Friday’s candle ranges. I am today monitoring the price action for a test of last week’s candle range high. Alternatively if GBPUSD cannot sustain higher prices could see the price action retest the 1.6795 support level.     USDJPY http://s12.postimg.org/47ck6l9q5/05_05usdjpy_daily.png Summary Friday USDJPY spiked higher off the Non Farm Payroll data. However the 103.00 level offered good resistance as the price action was undable to sustain a move above this level. This ultimatley led to a collapse as sellers came into the market. By the close of business USDJPY closed down on the day and under its averages. Market overview The breach of the 102.83 level being the swing high of the 21st February has effectively changed the daily trend to up and therefore putting this time frame into gear with the bullish weekly time frame. Following the corrective pull back it would appear that USDJPY has resumed its upward trend. However a sustain move beneath the 101.32 level being the 11th April swing low would put a big question mark against the health of this uptrend. Focus on today This morning USDJPY has opened negatively as the price action trades under last week’s candle range. Today I am monitoring USDJPY for a test of the 101.70 support level.  Alternatively a failure to sustain higher prices could see USDJPY retest the 13.00 resistance level.   USDCHF http://s12.postimg.org/87jpiu071/05_05usdchf_daily.png Summary Tuesday USDCHF spiked higher off the Non Farm Payroll data as the price action tested the downward sloping trendline. However this trendline once again proved to be good resistance as USDCHF was unable to maintain a move above this level. This ultimatley led to a collapse as sellers came into the market. By the close of business USDCHF closed down on the day and under its averages. Market overview USDCHF continues to trade in a negative daily and weekly swing bias but the recent price action is beginning to take on a bullish feel to it. That recent price activity has seen USDCHF back up to the downward slopping trend line. However it appears that higher prices have been rejected and there has been a resumption of the down trend. A breach of the 0.8743 level being the last isolated low of the 11th April to confirm that the down trend is intact. Focus on today This morning USDCHF has opened negatively as it trades under Friday’s candle ranges.  Today I am monitoring the price action to see if USDCHF possibly move in the direction of the 0.8743 level being the last isolated low of the 11th April to confirm that the down trend is intact.  Alternatively a failure to sustain lower prices could see USDCHF can test the upward sloping trend line.   Gold http://s12.postimg.org/dqm901x8d/05_05xauusd_daily.png Summary Friday Gold experience a strong up day as the price action rejected the 1270.00 support level. The price action continued to trade higher and was only held at the 1310.00 resistance level and the 34 period daily moving averages. Market overview The breach of the 1277 level being the 1st April low has technically changed the daily trend to down. This puts the daily trend in gear with the weekly down trend. A breach of the 1270.00 support level would confirm the daily down trend. Focus on today This morning Gold has opened positively as the price action trades above the highs of Friday’s candle range. Today I am monitoring the price action for Gold to test the 1310 resistance level. Alternatively a failure to sustain higher prices could see Gold trade back to the 8 period daily moving averages.   AUDUSD http://s12.postimg.org/fc1irv7gd/05_05audusd_daily.png Summary Friday AUDUSD spiked lower off the Non Farm Payroll data as the price action tested the upward sloping trendline. However this trendline proved to be good resistance as AUDUSD was unable to maintain a move below this level. This ultimatley led to a rally as buyers came into the market. By the close of business AUDUSD closed marginally up on the day. Market overview AUDUSD has been trading in a daily uptrend following the breach of the 0.9080 level being the swing high of the 18th February. However the weekly chart continues to trade in a down trend with the price action now correcting lower following a rejection of the Fibonacci resistance area. I am now monitoring the price action as it trades at trend line support for an indication of the next phase of the market action. Focus on today This morning AUDUSD has opened quietly as the price trades within Friday’s candle range. I am this morning monitoring the price action for a potential bounce off the upward sloping trend line. Alternatively if AUDUSD fails to sustain higher prices there is a possibility that AUDUSD trades back down to the upward sloping trend line.   Oil http://s12.postimg.org/7xc6zhlkt/05_05oilusddaily.png Summary Friday Oil traded higher as the price action tested the 100.00 level. Market overview Oil continues to trade in a daily uptrend following the breach of the 100.72 level being the swing high of the 24th December. The daily and weekly times both have a positive bias.  The recent price action has seen a strong downward correction towards the 98.00 support level.  Focus on today This morning Oil has opened positively as the price action trades within Friday’s candle range. Today I am monitoring the price action for a test of the 100.00 level. Alternatively a failure to sustain higher prices could see Oil trade back down to the 98.00 price levels. Quote Link to comment Share on other sites More sharing options...
Atlas CapitalFx Posted May 6, 2014 Author Report Share Posted May 6, 2014 Daily Technical Analysis 6th May 2014      EURUSD http://s28.postimg.org/atnrv1gr1/06_05eurusddaily.png  Summary Monday EURUSD in a tight range during the UK bank holiday. Market overview EURUSD continues to trade in a daily uptrend following the breach of the 1.3741 level being the 24th January swing high. The daily trend is now in gear with the strong weekly up trend. I will be monitoring EURUSD for further upside momentum. Focus on today This morning EURUSD has opened quietely as the price action trades at the within Monday’s candle range. I am this morning monitoring the price action for a potential test of the 1.3900 resistance level. Alternatively if EURUSD fails to sustain higher prices there is a possibility we see a move back to the prior broken down trend line.   GBPUSD http://s28.postimg.org/luix028zx/06_05gbpusd_daily.png Summary Monday GBPUSD in a tight range during the UK bank holiday. Market overview GBPUSD continues to trade in a daily and weekly uptrend with the price action having recently broken a large converging triangle. The 8 period daily moving averages appear to be offering strong support to the current up move. Focus on today This morning GBPUSD has opened positively as the price trades above Monday’s candle ranges. I am today monitoring the price action for a test of last week’s candle range high. Alternatively if GBPUSD cannot sustain higher prices could see the price action retest the 1.6795 support level.    USDJPY http://s28.postimg.org/3y3jbxma5/06_05usdjpy_daily.png  Summary Monday USDJPY had an indifferent trading day with the price action closing marginally beneath its open. Market overview The breach of the 102.83 level being the swing high of the 21st February has effectively changed the daily trend to up and therefore putting this time frame into gear with the bullish weekly time frame. Following the corrective pull back it would appear that USDJPY has resumed its upward trend. However a sustain move beneath the 101.32 level being the 11th April swing low would put a big question mark against the health of this uptrend. Focus on today This morning USDJPY has opened negatively as the price action trades within yesterday’s candle range. Today I am monitoring USDJPY for a test of the 101.70 support level.  Alternatively a failure to sustain higher prices could see USDJPY retest the 13.00 resistance level.   USDCHF http://s28.postimg.org/h4szbghzh/06_05usdchf_daily.png Summary Tuesday USDCHF gapped down but by the close of business ended the days trading closing higher. Market overview USDCHF continues to trade in a negative daily and weekly swing bias but the recent price action is beginning to take on a bullish feel to it. That recent price activity has seen USDCHF back up to the downward slopping trend line. However it appears that higher prices have been rejected and there has been a resumption of the down trend. A breach of the 0.8743 level being the last isolated low of the 11th April to confirm that the down trend is intact. Focus on today This morning USDCHF has opened quietly as it trades within yesterday’s candle ranges.  Today I am monitoring the price action to see if USDCHF possibly move in the direction of the 0.8743 level being the last isolated low of the 11th April to confirm that the down trend is intact.  Alternatively a failure to sustain lower prices could see USDCHF can test the upward sloping trend line.  Gold http://s28.postimg.org/txh3bdtl9/06_05xauusd_daily.png Summary Monday Gold traded higher as the price action tested the 1310.00 resistance level. Market overview The breach of the 1277 level being the 1st April low has technically changed the daily trend to down. This puts the daily trend in gear with the weekly down trend. A breach of the 1270.00 support level would confirm the daily down trend. Focus on today This morning Gold has opened quietly as the price action trades at the highs of Monday’s candle range. Today I am monitoring the price action for Gold to test the 1310 resistance level. Alternatively a failure to sustain higher prices could see Gold trade back to the daily moving averages.   AUDUSD http://s28.postimg.org/lj1gnasjx/06_05audusd_daily.png Summary Monday AUDUSD traded within a tight range around the averages. Market overview AUDUSD has been trading in a daily uptrend following the breach of the 0.9080 level being the swing high of the 18th February. However the weekly chart continues to trade in a down trend with the price action now correcting lower following a rejection of the Fibonacci resistance area. I am now monitoring the price action as it trades at trend line support for an indication of the next phase of the market action. Focus on today This morning AUDUSD has opened quietly as the price trades within Monday’s candle range. I am this morning monitoring the price action for a potential bounce off the upward sloping trend line. Alternatively if AUDUSD fails to sustain higher prices there is a possibility that AUDUSD trades back down to the upward sloping trend line.   Oil http://s28.postimg.org/ukg00wqh9/06_05oilusddaily.png Summary Monday Oil traded lower as the price action failed to closed above the 100.00 level. Market overview Oil continues to trade in a daily uptrend following the breach of the 100.72 level being the swing high of the 24th December. The daily and weekly times both have a positive bias.  The recent price action has seen a strong downward correction towards the 98.00 support level.  Focus on today This morning Oil has opened positively as the price action trades within Monday’s candle range. Today I am monitoring the price action for a test of the 100.00 level. Alternatively a failure to sustain higher prices could see Oil trade back down to the 98.00 price levels. Quote Link to comment Share on other sites More sharing options...
Atlas CapitalFx Posted May 7, 2014 Author Report Share Posted May 7, 2014 Daily Technical Analysis 7th May 2014      EURUSD http://s4.postimg.org/r64m0b4f1/07_05eurusd_daily.png   Summary Tuesday EURUSD broke higher as the price action traded and closed above the 1.3905 level being the 11th April high. Market overview EURUSD continues to trade in a daily uptrend following the breach of the 1.3741 level being the 24th January swing high. The daily trend is now in gear with the strong weekly up trend. I will be monitoring EURUSD for further upside momentum. Focus on today This morning EURUSD has opened quietely as the price action trades at the within Tuesday’s candle range. I am this morning monitoring the price action for a potential test of the 1.3966 level being the 13th March high. Alternatively if EURUSD fails to sustain higher prices there is a possibility we see a move back to the 8 period daily moving averages.     GBPUSD http://s4.postimg.org/kuzejw36l/07_05gbpusd_daily.png   Summary Tuesday GBPUSD broke higher from its averages as the price action tested the 1.6985 resistance level. Market overview GBPUSD continues to trade in a daily and weekly uptrend with the price action having recently broken a large converging triangle. The 8 period daily moving averages appear to be offering strong support to the current up move. Focus on today This morning GBPUSD has opened quietly as the price trades at the highs of Tuesday’s candle ranges. I am today monitoring the price action for a test of the 1.6985 resistance level. Alternatively if GBPUSD cannot sustain higher prices could see the price action trade back down to the averages.     USDJPY http://s4.postimg.org/72kzo9cf1/07_05usdjpy_daily.png   Summary Tuesday USDJPY experienced a strong down day as the price acion tested the 101.70 support level. Market overview The breach of the 102.83 level being the swing high of the 21st February has effectively changed the daily trend to up and therefore putting this time frame into gear with the bullish weekly time frame. Following the corrective pull back it would appear that USDJPY has resumed its upward trend. However a sustain move beneath the 101.32 level being the 11th April swing low would put a big question mark against the health of this uptrend. Focus on today This morning USDJPY has opened negatively as the price action trades beneath yesterday’s candle range. Today I am monitoring USDJPY for a test of the 101.32 level being the 11th April swing low. Alternatively a failure to sustain higher prices could see USDJPY trade back to the averages.   USDCHF http://s4.postimg.org/6si2inn6l/07_05usdchf_daily.png   Summary Tuesday USDCHF continued to trade lower as the price action tested and closed under the 0.8743 being the swing low of the 11th April. Market overview USDCHF continues to trade in a negative daily and weekly swing bias but the recent price action is beginning to take on a bullish feel to it. That recent price activity has seen USDCHF back up to the downward slopping trend line. However it appears that higher prices have been rejected and there has been a resumption of the down trend. The breach and close under the 0.8743 level being the last isolated low of the 11th April has confirmed that the down trend is intact. Focus on today This morning USDCHF has opened quietly as it trades within yesterday’s candle ranges.  Today I am monitoring the price action to see if USDCHF can test the 0.8698 level being the 2014 low.  Alternatively a failure to sustain lower prices could see USDCHF trade back to the 8 period daily moving averages.   Gold http://s4.postimg.org/vobi659ul/07_05xauusd_daily.png   Summary Tuesday Gold traded at the highs of Monday’s candle range as the price action tested the 1310 resistance level. Market overview The breach of the 1277 level being the 1st April low has technically changed the daily trend to down. This puts the daily trend in gear with the weekly down trend. A breach of the 1270.00 support level would confirm the daily down trend. However the recent price action has seen a rejection of the 1270 support level and a move above the 1306 level being the swing high of the 28th April. Focus on today This morning Gold has opened quietly as the price action trades at the highs of Tuesday’s candle range. Today I am monitoring the price action for Gold to test the 1310 resistance level. Alternatively a failure to sustain higher prices could see Gold trade back to the daily moving averages.   USDCAD http://s4.postimg.org/o0k0a3lst/07_05usdcad_daily.png   Summary Tuesday USDCAD broke lower off the daily moving averages and trend line resistance. Market overview USDCAD is trading in a weekly uptrend however the daily trend has recently changed to negative. A breach of the 1.0857 level being the daily swing low of the 9th April will open up the possibility for a further move lower down to the 1.0790 support level. Focus on today This morning USDCAD has opened quietly as the price trades at the lows of Tuesday’s candle range. I am this morning monitoring the price action for a potential test of the 1.0857 level being the daily swing low of the 9th April Alternatively if the price action fails to sustain lower prices there is a possibility that USDCAD trades back up to the 1.0940 resistance level.  Oil http://s4.postimg.org/igc4d7cbh/07_05oilusddaily.png   Summary Tuesday Oil traded around the 100 level and with Monday’s candle range. Market overview Oil continues to trade in a daily uptrend following the breach of the 100.72 level being the swing high of the 24th December. The daily and weekly times both have a positive bias.  The recent price action has seen a strong downward correction towards the 98.00 support level.  Focus on today This morning Oil has opened positively as the price action trades within Tuesday’s candle range. Today I am monitoring the price action for a test of the 100.00 level. Alternatively a failure to sustain higher prices could see Oil trade back down to the 98.00 price levels.  AUDUSD http://s4.postimg.org/o72aqxkbh/07_05audusd_daily.png  Summary Tuesday AUDUSD broke higher off the daily moving averages. Market overview AUDUSD has been trading in a daily uptrend following the breach of the 0.9080 level being the swing high of the 18th February. However the weekly chart continues to trade in a down trend with the price action now correcting lower following a rejection of the Fibonacci resistance area. I am now monitoring the price action as it trades at trend line support for an indication of the next phase of the market action. Focus on today This morning AUDUSD has opened quietly as the price trades at the highs of Tuesday’s candle range. I am this morning monitoring the price action for a potential test of the of the 0.9390 resistance level. Alternatively if AUDUSD fails to sustain higher prices there is a possibility that AUDUSD trades back down to the daily moving averages. Quote Link to comment Share on other sites More sharing options...
Atlas CapitalFx Posted May 8, 2014 Author Report Share Posted May 8, 2014 Daily Technical Analysis 8th May 2014   EURUSD http://s4.postimg.org/63x0qwhot/08_05eurusddaily.png Summary Wednesday EURUSD traded within a tight 30 pip range for most of the day as the market awaited the FOMC statement and hearing. Market overview EURUSD continues to trade in a daily uptrend following the breach of the 1.3741 level being the 24th January swing high. The daily trend is now in gear with the strong weekly up trend. I will be monitoring EURUSD for further upside momentum. Focus on today This morning EURUSD has opened quietely as the price action trades at the within Wednesday’s candle range. I am this morning monitoring the price action for a potential test of the 1.3966 level being the 13th March high. Alternatively if EURUSD fails to sustain higher prices there is a possibility we see a move back to the 8 period daily moving averages.  GBPUSD http://s4.postimg.org/4raqb9uvh/08_05gbpusd_daily.png Summary Wednesday GBPUSD had a quiet day as the price action consolidated at the highs of Tuesday’s candle range. Market overview GBPUSD continues to trade in a daily and weekly uptrend with the price action having recently broken a large converging triangle. The 8 period daily moving averages appear to be offering strong support to the current up move. Focus on today This morning GBPUSD has opened quietly as the price trades within Wednesday’s candle ranges. I am today monitoring the price action for a test of the 1.6985 resistance level. Alternatively if GBPUSD cannot sustain higher prices could see the price action trade back down to the averages.  USDJPY http://s4.postimg.org/877fykhhp/08_05usdjpy_daily.png Summary Wednesday USDJPY initially tested the weekly low however buyers came into the market and by the close of business closed the day higher. Market overview The breach of the 102.83 level being the swing high of the 21st February has effectively changed the daily trend to up and therefore putting this time frame into gear with the bullish weekly time frame. Following the corrective pull back it would appear that USDJPY has resumed its upward trend. However a sustain move beneath the 101.32 level being the 11th April swing low would put a big question mark against the health of this uptrend. Focus on today This morning USDJPY has opened negatively as the price action trades within yesterday’s candle range. Today I am monitoring USDJPY for a test of the 101.32 level being the 11th April swing low. Alternatively a failure to sustain higher prices could see USDJPY trade back to the averages.   USDCHF http://s4.postimg.org/sbweqalxp/08_05usdchf_daily.png Summary Wednesday USDCHF have a quiet as the price action traded within Tuesday’s candle range. Market overview USDCHF continues to trade in a negative daily and weekly swing bias but the recent price action is beginning to take on a bullish feel to it. That recent price activity has seen USDCHF back up to the downward slopping trend line. However it appears that higher prices have been rejected and there has been a resumption of the down trend. The breach and close under the 0.8743 level being the last isolated low of the 11th April has confirmed that the down trend is intact. Focus on today This morning USDCHF has opened quietly as it trades within yesterday’s candle ranges.  Today I am monitoring the price action to see if USDCHF can test the 0.8698 level being the 2014 low.  Alternatively a failure to sustain lower prices could see USDCHF trade back to the 8 period daily moving averages.  Gold http://s4.postimg.org/l10we65jh/08_05xauusd_daily.png Summary Wednesday Gold broke down from the 1310 resistance level as the price action traded down to Fibonacci support. Market overview The breach of the 1277 level being the 1st April low has technically changed the daily trend to down. This puts the daily trend in gear with the weekly down trend. A breach of the 1270.00 support level would confirm the daily down trend. However the recent price action has seen a rejection of the 1270 support level and a move above the 1306 level being the swing high of the 28th April. Focus on today This morning Gold has opened quietly as the price action trades at the lows of Wednesday’s candle range. Today I am monitoring the price action for Gold to test the 1270 support level. Alternatively a failure to sustain lower prices could see Gold trade back to the daily moving averages.   USDCAD http://s4.postimg.org/6lnkt0hvx/08_05usdcad_daily.png Summary Wednesday USDCAD had a quiet day as the price action trade within Tuesday’s candle range. Market overview USDCAD is trading in a weekly uptrend however the daily trend has recently changed to negative. A breach of the 1.0857 level being the daily swing low of the 9th April will open up the possibility for a further move lower down to the 1.0790 support level. Focus on today This morning USDCAD has opened quietly as the price trades withins Wednesday’s candle range. I am this morning monitoring the price action for a potential test of the 1.0857 level being the daily swing low of the 9th April Alternatively if the price action fails to sustain lower prices there is a possibility that USDCAD trades back up to the 1.0940 resistance level.  AUDUSD http://s4.postimg.org/denxpa8p9/08_05audusd_daily.png Summary Wednesday AUDUSD had a quiet day as the price action trade within Tuesday’s candle range. Market overview AUDUSD has been trading in a daily uptrend following the breach of the 0.9080 level being the swing high of the 18th February. However the weekly chart continues to trade in a down trend with the price action now correcting lower following a rejection of the Fibonacci resistance area.   Focus on today This morning AUDUSD has opened positively as the price trades at the price action tests the 0.9390 resistance level. I am this morning monitoring the price action for a potential test of the of the 0.9390 resistance level. Alternatively if AUDUSD fails to sustain higher prices there is a possibility that AUDUSD trades back down to the daily moving averages.   Oil http://s4.postimg.org/jxgs27kwd/08_05oilusddaily.png Summary Wednesday Oil traded broke above the 100 level and tested the 34 period daily moving averages.  Market overview Oil continues to trade in a daily uptrend following the breach of the 100.72 level being the swing high of the 24th December. The daily and weekly times both have a positive bias.  The recent price action has seen a strong downward correction and bounce off the 98.00 support level.  Focus on today This morning Oil has opened quietly as the price action trades within Wednesday’s candle range. Today I am monitoring the price action for a test of the 34 period daily moving averages.  Alternatively a failure to sustain higher prices could see Oil trade back down to the 98.00 price levels. Quote Link to comment Share on other sites More sharing options...
Atlas CapitalFx Posted May 9, 2014 Author Report Share Posted May 9, 2014 Daily Technical Analysis 9th May 2014     EURUSD http://s28.postimg.org/h3dhdx8nx/09_05eurusd_daily.png  Summary Thursday EURUSD experienced some strange price action. Initially EURUSD broke higher and traded above the 1.3966 level being the 2014 high. However EURUSD immediatley reversed its directrion and collapsed by over 150 pips. This move down was only halted when EURUSD hit the top of the prior broken triangle formation. Market overview EURUSD continues to trade in a daily uptrend following the breach of the 1.3741 level being the 24th January swing high. The daily trend is now in gear with the strong weekly up trend. Yesterday’s collapse has brought EURUSD back into the averages and support. This can possibly be viewed as a value area to add longs.  Focus on today This morning EURUSD has opened quietely as the price action trades at the lows Thursday’s candle range. I am this morning monitoring the price action for a potential test of the 34 period daily moving averages and trend line support. Alternatively if EURUSD fails to sustain lower prices there is a possibility we see a bounce off support and move back to the 8 period daily moving averages.    GBPUSD http://s28.postimg.org/xxe35rn6l/09_05gbpusd_daily.png Summary Thursday GBPUSD had a quiet day as the price action consolidated at the highs of this weeks range. Market overview GBPUSD continues to trade in a daily and weekly uptrend with the price action having recently broken a large converging triangle. The 8 period daily moving averages appear to be offering strong support to the current up move. Focus on today This morning GBPUSD has opened quietly as the price trades at the 8 period daily moving averages. I am today monitoring the price action for a test of the 1.6985 resistance level. Alternatively if GBPUSD cannot sustain higher prices could see the price action trade back down to the 1.6795 support level.   USDJPY http://s28.postimg.org/jn9480w7x/09_05usdjpy_daily.png  Summary Thursday USDJPY traded within the prior two days candle ranges. Market overview The breach of the 102.83 level being the swing high of the 21st February has effectively changed the daily trend to up and therefore putting this time frame into gear with the bullish weekly time frame. Following the corrective pull back it would appear that USDJPY has resumed its upward trend. However a sustain move beneath the 101.32 level being the 11th April swing low would put a big question mark against the health of this uptrend. Focus on today This morning USDJPY has opened negatively as the price action trades within yesterday’s candle range. Today I am monitoring USDJPY for a test of the 101.32 level being the 11th April swing low. Alternatively a failure to sustain lower prices could see USDJPY trade back to the averages.   USDCHF http://s28.postimg.org/s0et2ovfh/09_05usdchf_daily.png Summary Thursday USDCHF broke down and at one point tested the 2014 low. However the direction immediatley reversed its direction. USDCHF rallied strongly. By the close of business USDCHF had end the day above the 8 period daily moving averages. Market overview USDCHF continues to trade in a negative daily and weekly swing bias but the recent price action is beginning to take on a bullish feel to it. That recent price activity has seen USDCHF back up to the downward slopping trend line. However it appears that higher prices have been rejected and there has been a resumption of the down trend. The breach and close under the 0.8743 level being the last isolated low of the 11th April has confirmed that the down trend is intact. Focus on today This morning USDCHF has opened quietly as it trades above yesterday’s candle ranges.  Today I am monitoring the price action to see if USDCHF can potentially bounce lower off trend line resistance.  Alternatively a failure to sustain lower prices could see USDCHF test both the 34 period daily moving averages trend line resistance.  Gold http://s28.postimg.org/52s1d7199/09_05xauusd_daily.png Summary Thursday Gold had a quiet day as the price action traded at lows of Wednesday’s range. Market overview The breach of the 1277 level being the 1st April low has technically changed the daily trend to down. This puts the daily trend in gear with the weekly down trend. A breach of the 1270.00 support level would confirm the daily down trend. However the recent price action has seen a rejection of the 1270 support level and a move above the 1306 level being the swing high of the 28th April. Focus on today This morning Gold has opened quietly as the price action trades within Thursday’s candle range. Today I am monitoring the price action for Gold to test the 1270 support level. Alternatively a failure to sustain lower prices could see Gold trade back to the daily moving averages.   USDCAD http://s28.postimg.org/alpzgo8wt/09_05usdcad_daily.png Summary Thursday USDCAD experienced a strong down day as the price action breached the 9th April low and moved towards the 1.0790 support level. Market overview USDCAD is trading in a weekly uptrend however the daily trend has recently changed to negative. The breach of the 1.0857 level being the daily swing low of the 9th April will open up the possibility for a further move lower down to the 1.0790 support level. Focus on today This morning USDCAD has opened quietly as the price trades at the lows of Thursday’s candle range. I am this morning monitoring the price action for a potential test of the 1.0790 support level. Alternatively if the price action fails to sustain lower prices there is a possibility that USDCAD trades back up to 8 periods daily moving averages.    AUDUSD http://s28.postimg.org/dbzbdv5lp/09_05audusd_daily.png Summary Thursday AUDUSD had a strong up day as the price action tested the 0.9390 resistance level. Market overview AUDUSD has been trading in a daily uptrend following the breach of the 0.9080 level being the swing high of the 18th February. However the weekly chart continues to trade in a down trend with the price action now correcting lower following a rejection of the Fibonacci resistance area.  Focus on today This morning AUDUSD has opened quietly as the price trades at the price action trades at the highs of Thursday’s candle ranges. I am this morning monitoring the price action for a potential test of the of the 0.9390 resistance level. Alternatively if AUDUSD fails to sustain higher prices there is a possibility that AUDUSD trades back down to the daily moving averages.     Oil http://s28.postimg.org/l79usof8d/09_05oilusddaily.png Summary Thursday Oil traded above the 100 level and the 8 period daily moving averages.  Market overview Oil continues to trade in a daily uptrend following the breach of the 100.72 level being the swing high of the 24th December. The daily and weekly times both have a positive bias.  The recent price action has seen a strong downward correction and bounce off the 98.00 support level.  Focus on today This morning Oil has opened quietly as the price action trades within Thursday’s candle range. Today I am monitoring the price action for a test of the 34 period daily moving averages.  Alternatively a failure to sustain higher prices could see Oil trade back down to the 98.00 price levels. Quote 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.