Daily Technical Analysis for 6TH March 2013

Daily Technical Analysis for 6TH March 2013

Postby Atlas CapitalFx » Wed Mar 06, 2013 7:35 am

Daily Technical Analysis for EURUSD as at 6th March 2013

DAILY OVERVIEW

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

Image

Comments
EURUSD is now trading at the 8 period moving averages which is the initial area where we are monitoring the price action for possible negative rotation that could push the Euro into the direction of the last isolated LL. Alternatively, a break above the 8 period moving average will focus our attention on a possible move to the upward sloping trend line which should offer strong resistance and as such may act as a magnet for bulls to aim for.

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 6th March 2013

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

Image

Comments
GBPUSD continues to trade at the 8 period moving averages. A break above this average should push the Pound to the 1.5230/70 area which should possibly give strong resistance. Alternatively a failure to trade significantly above the average would focus attention to the short side with a move towards the last isolated LL being a realistic possibility.

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 6th March 2013

DAILY OVERVIEW

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

Image

Comments

USDCHF continues to trade at its highs following the break out. We continue to monitor the price action for a pull back as a buying opportunity or alternatively a less conservative break above the current HH.

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 6th March 2013

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

Image

Comments
USDJPY continues to trade above the 8 period moving averages. The scenarios stated yesterday being an approach to this average for the possibility of a bounce that takes out the previous HH or a break beneath this and the 34 period averages would once again possibly push USDJPY back in the direction of the 25th February low are still valid.

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 6th March 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 touched and bounce off the 8 period moving average. If Gold cannot trade above this average then Target 1 will still be in play. A break above the average would possibly give warning that a HL is about to put in and could give encouragement to the bulls to push Gold to the area of the last LH.

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 6th 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
After yesterdays positive close Oil is this morning pushing higher. We are monitoring the possibility of a move to 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
Atlas CapitalFx
 
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