DAILY OVERVIEW
Trend : -
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -
Comments
After the rejection of the 8 period moving averages EURUSD is now making new lows. We are currently trading above the significant 1.3000 level. A break beneath this level will add momentum to the down trend as it pushes towards trend line support.
Definitions
Trend : Current trend as defined by technical Swing Analysis
HH : Higher High
HL : Higher Low
LL : Lower Low
LH : Lower High
CofT : Change of Trend
Daily Technical Analysis for GBPUSD as at 4th March 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -
Comments
As mentioned on Friday the 8 period moving averages and over head resistance proved to be important as GBPUSD was pushed lower from these levels. The price action is now moving towards the 1.5000 level which may prove significant as a new level of support.
Definitions
Trend : Current trend as defined by technical Swing Analysis.
HH : Higher High
HL : Higher Low
LL : Lower Low
LH : Lower High
CofT : Change of Trend
Daily Technical Analysis for USDCHF as at 4th March 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -
Comments
Thursday breakout did as commented on did take out the last HH. As we are now trading above this HH level the trend effectively switches to long. The price action is extended from the 8 period moving averages. We are therefore looking for a pull back to this average as a location where we will monitor the price action for possible longs.
Definitions
Trend : Current trend as defined by technical Swing Analysis
HH : Higher High
HL : Higher Low
LL : Lower Low
LH : Lower High
CofT : Change of Trend
Daily Technical Analysis for USDJPY as at 4th March 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -
Comments
USDJPY popped higher on Friday and is now trading above the 8 period moving averages. A breach of the 25th February high will add confirmation to this up move.
Definitions
Trend : Current trend as defined by technical Swing Analysis
HH : Higher High
HL : Higher Low
LL : Lower Low
LH : Lower High
CofT : Change of Trend
Daily Technical Analysis for Gold as at 4th March 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : 1619.30 – 1656.55
Target 1 : 1554.60
Target 2 : 1526.85
Stop : 1684.80
Comments
As previously mentioned Gold’s rejection of Fibonacci resistance has proved lucrative for sellers who took positions. Friday’s price action push lower but has yet to reach Target 1.
Definitions
Trend : Current trend as defined by technical Swing Analysis
HH : Higher High
HL : Higher Low
LL : Lower Low
LH : Lower High
CofT : Change of Trend
Daily Technical Analysis for Oil (WTI) as at 4th March 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : 91.70 – 87.90
Target 1 : 98.20
Target 2 : 100.40
Stop : 85.20
Comments
Oil failed to find support on the down trend line as it broke through this level on Friday. Oil is now trading at the trading at the 61.8% Fibonacci support area after approaching the upward sloping trend line. We are monitoring for a possible positive rotation at these levels.
Definitions
Trend : Current trend as defined by technical Swing Analysis
HH : Higher High
HL : Higher Low
LL : Lower Low
LH : Lower High
CofT : Change of Trend