Daily Technical Analysis 21.3.2013 ACFX.com

Daily Technical Analysis 21.3.2013 ACFX.com

Postby Atlas CapitalFx » Thu Mar 21, 2013 5:41 am

Daily Technical Analysis for EURUSD as at 21st March 2013

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

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Comments
Talk of deals behind closed door and followed by rumors of disagreements is adding to the uncertainty and market jitters.

The Euro reversed off its lows and has traded up to the 8 period moving averages. Although a gap fill is still a possibility we are currently monitoring the price action at the small average to ascertain if the upward momentum could possible stall.

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 21st March 2013

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

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Comments
GBPUSD yesterday traded down to the 8 period moving averages and as predicted this is an area where support was found. Although the Pound traded higher and breached the highs of the range GBPUSD eventually pulled back to close just beneath its open. Yesterday’s range of some 160 pips exceeds the 14 day Average True Range by some 40 pips. With the Pound opening this morning in the middle of the range this could offer scalpers opportunities to take advantage within the range. As the price action is still trading above the 8 period moving averages we continue to monitor pullback to the averages 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 USDCHF as at 21st March 2013

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

Image

Comments
USDCHF has failed thus far in its attempts to close above the 8 period moving averages. Combined with the weekly divergence there is now a possibility that the Franc could trade down to Fibonacci support. We continue to monitor the price action and its relationship 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 USDJPY as at 21st March 2013

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

Image

Comments
We identified in a prior posting that the hidden weekly positive divergence might be a possible heads up for higher prices. Yesterday USDJPY did trade higher and closed above the 8 period moving averages. We are now monitoring the possibility of USDJPY trading into the direction of 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 Gold as at 21st 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
The 34 period moving averages is now offering resistance to Gold with the price action now being squeezed between the 8 and 34 period averages. We now have a two day range with this morning’s price action opening within this range. We are monitoring break outs and break downs from this range with an eye being kept on the price reaction if it trades down to the 8 period moving averages. One point to note is the dramatic drop of in the value of the 14 period Average True Range. Such extreme low values do not usually last for long and it is not an unlikely possibility that Gold begins to once again experience wider ranges.

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 21st March 2013

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

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Comments
Oil yesterday traded higher and although it did not reverse the previous day’s entire sell off it did manage to close above the 8 period moving averages. This average may offer some support to a further up move however Oil does also need to break the resistance of the 34 period moving average.As mentioned yesterday 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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