DAILY OVERVIEW
Trend : Short
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -
Comments
EURUSD has traded back to the 8 period moving which is a possible initial area to monitor market rotation for shorting opportunities. As the Fibonacci shorting area we have identified is some 375 pips from the current price a more appropriate target if the Euro trades higher could potentially be 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 USDCHF as at 2nd April 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -
Comments
USDCHF would appear to be attempting to put in a lower high. A breach of the 25th March low would confirm a potential change to a negative bias. However as the prevailing trend is up we continue to monitor a possible 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
Daily Technical Analysis for Oil (WTI) as at 2nd April 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : 91.70 – 87.90
Target 1 : 98.20
Target 2 : 100.40
Stop : 85.20
Comments
After a continued up move Oil did pull back and as expected found support at the 8 period moving averages. We are monitoring the price action at these levels to see if support can hold and possibly push Oil 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
Daily Technical Analysis for Gold as at 2nd April 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 trade around its Golden cross and within a tight range. A breakout from the current level may potentially push Gold into the direction of the downward sloping trend line.
Alternatively a failure for the price action to close above the 8 period moving averages would switch our attention to the short side and a breach of the potential HL would confirm this 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
Daily Technical Analysis for USDJPY as at 2nd April 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : 93.90 – 92.30
Target 1 : 96.70
Target 2 : 97.75
Stop : 90.85
Comments
USDJPY moved lower and for the first time since 11th October 2012 the 8 period moving averages has crossed beneath the 34 period moving averages. The move into Fibonacci support has also been very aggressive. The long scenario would be to purchase USDJPY within the Fibonacci support area but we would like to see a support base built before longs are taken. The alternative scenario would be for an extended down trend with shorting opportunities on pull backs 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 GBPUSD as at 2nd April 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -
Comments
Although the pound continues to trade beneath resistance the potential Golden Cross that we had been monitoring has been completed. The Golden cross combined with the inverse Head and Shoulders patterns potentially points GBPUSD trading up to the downward sloping trend line.
Alternatively a failure to trade above resistance will put the bias back onto the down 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