DAILY OVERVIEW
Trend : Short
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -
Comments
The 8 period moving averages have provided initial resistance and EURUSD has moved down from this level by some 80 pips. We are monitoring a potential move towards the last isolated LL. A breach of the last LL would confirm the continued downward momentum and a possible move to trend line 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 3rd April 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -
Comments
Yesterday GBPUSD attempted to breach horizontal resistance but failed to break that level and reversed. This reversal has continued today with a negative open.
Although the past two days action has been bearish both the Golden Cross and the inverse Head and Shoulders pattern are still in play which may give those with a bullish bias some encouragement.
If the price action can hold above the last LL a third attempt at taking out resistance should not be ruled out. Alternatively a failure to breach resistance should give bears encouragement to push GBPUSD to the area of the last LL.
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 3rd April 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -
Comments
USDCHF continues to find support at the 8 period moving averages. 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 USDJPY as at 3rd April 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : 93.90 – 92.30
Target 1 : 96.70
Target 2 : 97.75
Stop : 90.85
Comments
The 8 period moving averages continue to trade beneath the 34 period moving averages which is technically short. However USDJPY has found support in the Fibonacci area and offers the possibility of taking longs at these levels. 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 Oil (WTI) as at 3rd April 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : 91.70 – 87.90
Target 1 : 98.20
Target 2 : 100.40
Stop : 85.20
Comments
Yesterday Oil moved to the 8 period averages where support was found. We are monitoring the price action at these levels to see if support can hold and possibly push Oil to Target 1. The alternative scenario would be for a breach of the 8 period moving average and a move into the direction of the 34 period moving average.
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 3rd 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 yesterday broke down and this negative momentum has continued this morning. If Gold can breach the last isolated HL it would not be a surprise if the bears push Gold into the direction of the last isolated LL. A breach of these levels would of course confirm the continued down trend.
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