Daily market technical Analysis And outlook By ACFX.com

[kartik]

Daily technical outlook for USDCHF as at 2nd April 2012 by acfx.com
The prevailing Daily trend is short.

The daily chart has been in a downtrend defined by USDCHF putting in a series of lower highs and lower lows since the breach of the 21st December swing low. However the 15th March swing high breach could be a warning sign that this short down trend is nothing more than a bullish continuation pattern.
The stochastic has breached the oversold area which could be seen as a sign that USDCHF needs to take a pause or that the indicator is now embedded with further downside to come.
The Alligator indicator is bearish with any pull back into the deferred moving averages being a selling opportunity in lower time frames.
Possible range
The daily range based upon the most recent Average True Range readings is 82 pips. This implies that USDCHF could potentially trade between 0.8942 and 09106.
Long scenario
Conservative long above 0.9093 being the last daily fractal high.
Aggressive long into the Alligator indicator.
Short scenario
Conservative scenario is neutral as USDCHF has already breached the 8th March fractal at 0.9071.
Aggressive short wait for a pull back into the deferred MA’s and identify entry off a lower time frame.
http://blog.acfx.com/

Daily technical outlook for USDJPY as at 2nd April 2012 by acfx.com
The prevailing Daily trend is long
The daily chart as defined by a normalized swing count has been choppy for some time prior to this pairs bullish break out with the breach of the 9th September swing high being a warning sign of a potential trend reversal.
The stochastic has breached the overbought value as is now neutral but heading towards the oversold area.
The Alligator indicator is bullish with price in a lower time frame buying zone.
Possible range
The daily range based upon the most recent Average True Range readings is 0.805. This implies that USDJPY could potentially trade between 82.05 and 83.66.
Long scenario
Conservative long above 83.38 being the last daily fractal high.
Aggressive long wait for a pull back into the deferred MA’s and identify entry off a lower time frame.
Short scenario
Conservative short beneath 81.82 being the 30th March low.
Aggressive short, neutral.
http://blog.acfx.com/