Daily Technical Analysis 11.4.2013 By ACFX.com
Posted: Thu Apr 11, 2013 9:21 amDaily Technical Analysis for EURUSD as at 11th April 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -
Comments
EURUSD yesterday initially traded higher only to close negatively for the first time in 5 days. The moving
averages are kissing each other in what is a potential Golden Cross.
As the price action is fairly extended from the averages we are monitoring buying opportunities on approaches
to the 34 and 8 period moving averages and then at daily Fibonacci support with traders who have a more
aggressive risk profile either purchasing intraday weakness or placing orders above the current daily high.
The target for any long side move initially being overhead Fibonacci resistance and then the upward sloping
trend line.
A corrective pullback is a possibility and we are therefore monitoring the power of the next correction to see
how this impacts the potential changes of trend. If a new HL can be formed then this will of course give
further confirmation to the long 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
Daily Technical Analysis for GBPUSD as at 11th April 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -
Comments
GBPUSD continues to trade close to support and the 8 period moving averages. We are monitoring a potential
move to the downward sloping trend line.
Alternatively, if GBPUSD fails to hold above the last isolated HL then there is a possibility of a move to 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 USDJPY as at 11th April 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : 96.00 – 94.30
Target 1 : 98.85
Target 2 : 100.45
Stop : 92.55
Comments
USDJPY continues to edge closer to the 100 level but at a somewhat slow pace.
However the price action is somewhat extended from the averages and we have a pronounced RSI negative
divergence setting up.
The question is does USDJPY go down first before it tests the 100 level or does it make an attempt to push
through this level now. Very exciting times if you trade this currency pair.
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 11th April 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : 91.70 – 87.90
Target 1 : 98.20
Target 2 : 100.40
Stop : 85.20
Comments
Oil this morning is attempting to trade above the 8 period moving averages in what is a potential resumption
of the long trend.
Alternatively if the move fails to trade higher with any conviction a breach of the 34 period moving averages
could give the bears encouragement to push Oil back to retest 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 Gold as at 11th April 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : 1577 – 1599.25
Target 1 : 1539.30
Target 2 : 1526.85
Stop : 1616.60
Comments
Gold has broken down from Fibonacci resistance and the moving averages. We are currently 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 USDCHF as at 11th April 2013
DAILY OVERVIEW
Trend : -
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -
Comments
The price action continues to trade above both daily and weekly Fibonacci support we are monitoring the price
action for potential buying opportunities. However there is a potential that USDCHF drops a further 170 pips
into this Fibonacci zone therefore one could possibly ignore any further longs until the price action has
retraced sufficiently into this area.
Traders with a more aggressive risk profile could possibly enter off signs of intraday positive rotation with
an initial target being the 8 period moving averages. However as there is an established bearish LH LL
combination the short side on approaches to the 8 period moving average could also offers some down side
opportunity.
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 : Long
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -
Comments
EURUSD yesterday initially traded higher only to close negatively for the first time in 5 days. The moving
averages are kissing each other in what is a potential Golden Cross.
As the price action is fairly extended from the averages we are monitoring buying opportunities on approaches
to the 34 and 8 period moving averages and then at daily Fibonacci support with traders who have a more
aggressive risk profile either purchasing intraday weakness or placing orders above the current daily high.
The target for any long side move initially being overhead Fibonacci resistance and then the upward sloping
trend line.
A corrective pullback is a possibility and we are therefore monitoring the power of the next correction to see
how this impacts the potential changes of trend. If a new HL can be formed then this will of course give
further confirmation to the long 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
Daily Technical Analysis for GBPUSD as at 11th April 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -
Comments
GBPUSD continues to trade close to support and the 8 period moving averages. We are monitoring a potential
move to the downward sloping trend line.
Alternatively, if GBPUSD fails to hold above the last isolated HL then there is a possibility of a move to 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 USDJPY as at 11th April 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : 96.00 – 94.30
Target 1 : 98.85
Target 2 : 100.45
Stop : 92.55
Comments
USDJPY continues to edge closer to the 100 level but at a somewhat slow pace.
However the price action is somewhat extended from the averages and we have a pronounced RSI negative
divergence setting up.
The question is does USDJPY go down first before it tests the 100 level or does it make an attempt to push
through this level now. Very exciting times if you trade this currency pair.
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 11th April 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : 91.70 – 87.90
Target 1 : 98.20
Target 2 : 100.40
Stop : 85.20
Comments
Oil this morning is attempting to trade above the 8 period moving averages in what is a potential resumption
of the long trend.
Alternatively if the move fails to trade higher with any conviction a breach of the 34 period moving averages
could give the bears encouragement to push Oil back to retest 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 Gold as at 11th April 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : 1577 – 1599.25
Target 1 : 1539.30
Target 2 : 1526.85
Stop : 1616.60
Comments
Gold has broken down from Fibonacci resistance and the moving averages. We are currently 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 USDCHF as at 11th April 2013
DAILY OVERVIEW
Trend : -
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -
Comments
The price action continues to trade above both daily and weekly Fibonacci support we are monitoring the price
action for potential buying opportunities. However there is a potential that USDCHF drops a further 170 pips
into this Fibonacci zone therefore one could possibly ignore any further longs until the price action has
retraced sufficiently into this area.
Traders with a more aggressive risk profile could possibly enter off signs of intraday positive rotation with
an initial target being the 8 period moving averages. However as there is an established bearish LH LL
combination the short side on approaches to the 8 period moving average could also offers some down side
opportunity.
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