DAILY OVERVIEW
Trend : -
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -
Comments
Yesterday EURUSD initially traded lower and then reversed and closed above prior support. A weekly positive RSI divergence appears to be setting up. This divergence needs to be confirmed by the close of business tonight. We are now monitoring a possible move to 1.3135 being the level of the last isolated high. Alternatively a break of support would once again focus our attention on the short side.
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 15th March 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -
Comments
Yesterday there was no sign of negative rotation as GBPUSD slashed through the 8 period moving averages and closed strongly. After such a strong move it would not be surprising if there was a pull back to the 8 period moving averages especially as the price is fairly well extended into a Fibonacci zone. However GBPUSD could also possibly attempt to trade up to previous support being 1.5230.
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 15th March 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -
Comments
Yesterday we wrote “USDCHF as mentioned prior to the move found good support and bounced off the 8 period moving averages. We are monitoring a possible move that breaches the previous isolated HH”. USDCHF did make the HH but then closed lower. We have identified a weekly negative divergence setting up which needs to be confirmed by tonight’s close. As we are now trading beneath the 8 period moving averages we are monitoring the possibility that USDCHF trades much lower. Furthermore if today’s price action can close beneath yesterday’s range then we may have a significant short set up forming as yesterday’s candle is the last isolated 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 15th March 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -
Comments
USDJPY continues to trade above the 8 period moving averages. We continue to monitor pull backs to the small 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 15th March 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : 1619.30 – 1656.55
Target 1 : 1554.60
Target 2 : 1526.85
Stop : 1684.80
Comments
Gold continues to find support above the 8 period moving averages. We are monitoring the price action for a possible move to the 34 period moving averages.
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 15th 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 continues to trade within the range of the previous three days, however yesterday we had a good positive close and this morning we are trading near the high of what is now a four day range. A break out from the top of this range is a possible tradable long opportunity but as always our preference is to identify opportunities off lower time frames and enter in the direction of the move. Alternatively a failure to breach the top of the range would place focus onto the short side with the 8 period moving averages being the initial target where support may be found. Our preference being to sell Oil after we have identified a negative rotation off a lower time frame.
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