Daily Technical Analysis for 5TH March 2013

Daily Technical Analysis for 5TH March 2013

Postby Atlas CapitalFx » Tue Mar 05, 2013 5:23 am

Daily Technical Analysis for EURUSD as at 5th March 2013

DAILY OVERVIEW
Trend : -
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -

Image

Comments
EURUSD did trade beneath the key 1.3000 level however the move thus far has been muted. That the 1.3000 level is in line with the previous low of the 4th January may be significant to buyers of the Euro who are looking for areas where a potential double bottom may possibly form. We are currently monitoring the price reaction as EURUSD approaches the 8 period moving averages as this is a possible area where shorts would be willing to add positions.

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 5th March 2013

DAILY OVERVIEW
Trend : Short
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -

Image

Comments
The price action did move to and breach the 1.5000 level only for it to bounce off it. GBPUSD is now trading at the 8 period moving averages which could possibly be a an area for shorts to add positions.

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 5th March 2013

DAILY OVERVIEW
Trend : Long
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -

Image

Comments
Following the initial break out the price action is now extended from the 8 period moving averages. We continue to look for a pull back to this average as a location where we will monitor the price action for possible long opportunities.

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 5th March 2013

DAILY OVERVIEW
Trend : Long
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -

Image

Comments
Following its initial move higher, USDJPY is now trading above the 8 period moving averages. We are monitoring an approach to this average for the possibility of a bounce that takes out the previous HH. Alternatively a break beneath this and the 34 period averages would once again possibly push USDJPY back in the direction of the 25th February low.

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 February 2013

DAILY OVERVIEW
Trend : Short
Ambush Zone : 1619.30 – 1656.55
Target 1 : 1554.60
Target 2 : 1526.85
Stop : 1684.80

Image

Comments
Gold has thus far failed to follow through to Target 1 and is now attempting to put in a HL. A close above the 1st March high would force us to reevaluate our current short bias.
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 5th March 2013

DAILY OVERVIEW
Trend : Long
Ambush Zone : 91.70 – 87.90
Target 1 : 98.20
Target 2 : 100.40
Stop : 85.20

Image

Comments
Oil bounced off the 61.8% Fibonacci support area and upward sloping trend line. A close above yesterday’s high would confirm a possible positive rotation in the price action.

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
Atlas CapitalFx
 
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