Daily Technical Analysis 20.3.2013 ACFX.com

Daily Technical Analysis 20.3.2013 ACFX.com

Postby Atlas CapitalFx » Wed Mar 20, 2013 5:25 am

Daily Technical Analysis for EURUSD as at 20th March 2013

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

Image

Comments
Following the rejection of the terms of the Cyprus bail out and the unrelenting pressure being heaped upon Cypriot politicians by the German Finance Minister Wolfgang Schaeuble there will have to be a resolution very soon as the uncertainty with respect to the Euro Zones banking system could infect other ailing countries such as Italy and Spain.

From a purely technical perspective, EURUSD failed in its initial attempt to close the window that was created by the opening gap and eventually traded lower. The price action is once again extended from the 8 period moving averages. Our bias continues to be negative but with both eyes firmly be kept on the news flow.

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 20th March 2013

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

Image

Comments
GBPUSD has once again opened up this morning with in a tight range which is now entering its fourth day.
We are monitoring the price action to see if the Pound either trades down to the 8 period moving averages where it will find support or break higher to the area of prior 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 20th March 2013

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

Image

Comments
This morning USDCHF is trading higher and hovering just above the 8 period moving averages. We are monitoring the possibility the Franc trades up to the previous higher high however the negative weekly divergence does also give us a heads up that further downside corrective price action is a 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 USDJPY as at 20th March 2013

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

Image

Comments
Once again we focus our attention on USDJPY possibly breaching a closing above the 8 period moving averages where it this currency pair will find support prior to moving towards the last isolated HH. Alternatively a move down could push USDJPY initially move to the 34 period moving average and then to Fibonacci support. However the hidden weekly positive divergence may be a heads up that USDJPY could possible trade higher.

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 20th 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
After a strong move to the 34 period moving averages Gold has this morning stalled and opened negatively. We are monitoring the price action for a potential move to the 8 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 20th 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
Yesterdays attempt by Oil to break out from its range failed and reversed dramatically. For upward momentum to continue we would like to see Oil breach and close above the 34 period moving averages and in the process pull along the 8 period moving averages with it so as to form Golden Cross (short term average crossing the long term average). A failure to do so will put the attention back on the short side with a breach and close of the 18th March low confirming a switch in 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
Atlas CapitalFx
 
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