Daily Technical Analysis 11.3.2013 ACFX.com

Daily Technical Analysis 11.3.2013 ACFX.com

Postby Atlas CapitalFx » Mon Mar 11, 2013 6:08 am

Daily Technical Analysis for EURUSD as at 11th March 2013

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

Image

Comments
The initial upward movement on Friday was reversed spectacularly with an intraday collapse that broke hourly support. The Euro traded down to the previous LL where support was found. This morning we have so far had a positive albeit quiet open. We are monitoring the price action at the lows to identify if support can hold or if the bears will finally at the fifth attempt break 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 11th March 2013

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

Image

Comments
We mentioned in our last posting that we want to see a break of the lows so as to confirm a continuation of the general down trend. This happened on Friday. GBPUSD is now extended from the 8 period moving averages. Therefore it would not be a surprise if a pullback was to happen before any further down move. Alternatively, GBPUSD could experience a further break down. We are currently monitoring the price action at these levels to ascertain the next immediate market direction.

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 11th March 2013

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

Image

Comments
On Friday morning we mentioned “USDCHF has now traded back to the 8 period move averages after breaking out higher. We are monitoring the price action at these levels to see if buying comes in that pushes the Swiss Franc higher”. As expected we saw strong buying come in as USDCHF approached the 8 period moving averages. Once again the price action is extended from the small average. We continue to monitor pull backs to the average as possible buying 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 11th March 2013

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

Image

Comments
USDJPY is once again extended from the 8 period moving averages. We continue to monitor pull backs to the short average as a buying opportunity.

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 11th March 2013

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

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Comments
Gold made an initial move to break horizontal support of the current rectangle pattern only for buyers to come in and hold up Gold. We are now focused on a possible upside break. As always our preference is to allow the initial break to happen and enter off the first valid pull back to prior resistance.

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 11th 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 continued its upward advance on Friday and the price action has now broken the downward sloping trend line.
We are monitoring a possible continued 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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