Daily Technical Analysis 4.4.2013 By ACFX.com
Posted: Thu Apr 04, 2013 4:08 amDaily Technical Analysis for EURUSD as at 4th April 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -
Comments
EURUSD continues to trade at the 8 period moving averages which is offering some resistant to further upside momentum.
If we can get an open and close above this average them there is potential for a continued move to the 34 period moving averages.
Alternatively a failure to clear the 8 period moving averages would indicate a possible move to 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 4th April 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -
Comments
After Monday’s strong down day, GBPUSD has consolidated at the lows.
Although the Golden Cross and the inverse Head and Shoulders pattern are still in play we would like to see the price action to trade above the 8 period moving averages as confirmation of a long bias prior to trading up to and breaching resistance.
The bearish alternatively would be for GBPUSD to fail to trade above the 8 period moving averages and breach resistance. This would indicate the possibility of GBPUSD of moving into the direction 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 4th April 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -
Comments
USDCHF has today opened beneath the 8 period moving averages and moving into the direction of the 34 period moving averages which is an area where we will monitor the price action for potential support.
If USDCHF can trade beneath the 34 period moving averages and breach 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 4th April 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : 93.90 – 92.30
Target 1 : 96.70
Target 2 : 97.75
Stop : 90.85
Comments
This morning’s news of Bank of Japan bond purchases has pushed USDJPY higher. This news coincided with the price action trading within Fibonacci support area. We are now monitoring a 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 4th 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 slashed through the 8 period moving averages and is now approaching the 34 period moving averages where we will monitor the price action for potential support. A break of the 34 period moving averages could possibly indicate a move to Fibonacci 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 Gold as at 4th 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 continued with the downward momentum and took out both the prior HL and LL and in the process hitting Target 1. The price action is currently extended from the 8 period moving averages. As such any pull backs to this average can be possibly viewed as shorting 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 OVERVIEW
Trend : Short
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -
Comments
EURUSD continues to trade at the 8 period moving averages which is offering some resistant to further upside momentum.
If we can get an open and close above this average them there is potential for a continued move to the 34 period moving averages.
Alternatively a failure to clear the 8 period moving averages would indicate a possible move to 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 4th April 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -
Comments
After Monday’s strong down day, GBPUSD has consolidated at the lows.
Although the Golden Cross and the inverse Head and Shoulders pattern are still in play we would like to see the price action to trade above the 8 period moving averages as confirmation of a long bias prior to trading up to and breaching resistance.
The bearish alternatively would be for GBPUSD to fail to trade above the 8 period moving averages and breach resistance. This would indicate the possibility of GBPUSD of moving into the direction 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 4th April 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -
Comments
USDCHF has today opened beneath the 8 period moving averages and moving into the direction of the 34 period moving averages which is an area where we will monitor the price action for potential support.
If USDCHF can trade beneath the 34 period moving averages and breach 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 4th April 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : 93.90 – 92.30
Target 1 : 96.70
Target 2 : 97.75
Stop : 90.85
Comments
This morning’s news of Bank of Japan bond purchases has pushed USDJPY higher. This news coincided with the price action trading within Fibonacci support area. We are now monitoring a 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 4th 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 slashed through the 8 period moving averages and is now approaching the 34 period moving averages where we will monitor the price action for potential support. A break of the 34 period moving averages could possibly indicate a move to Fibonacci 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 Gold as at 4th 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 continued with the downward momentum and took out both the prior HL and LL and in the process hitting Target 1. The price action is currently extended from the 8 period moving averages. As such any pull backs to this average can be possibly viewed as shorting 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