Daily Technical Analysis for 27th December 2013 from ACFX
Posted: Fri Dec 27, 2013 5:50 amDaily Technical Analysis for 27th December 2013 from ACFX
EURUSD
Yesterday’s summary
Yesterday’s trading saw EURUSD end the session 11 pips higher from its open whilst trading a 27 pip range.
Market overview
The price action continues to have a negative daily swing bias whilst trading within a large expanding triangle. Thursday EURUSD traded and closed within the range of the previous day. EURUSD has this morning broken back above the 8 period moving averages. I am monitoring a potential move to the 25th October swing high pivot at 1.3832.
Focus on today
This morning EURUSD is trading above the previous day’s high and within a 84 pip early morning Tokyo session range.
Furthermore currently EURUSD has this morning broken into the 1.3763 to 1.3811 range high.
AS EURUSD is trading just broken into the 1.3763/1.3811 congestion range, I am monitoring the potential for the price action to continue with further upward momentum.
Alternatively EURUSD could find resistance as it trades into the 1.3763/1.3811 congestion range which could lead to a potential downside pressure.
Key intraday levels
EURUSD: 1.3624 1.3647, 1.3763, 1.3811
GBPUSD
Yesterday’s summary
Yesterday’s trading saw GBPUSD end the session 27 pips higher from its open whilst trading a 69 pip range.
Market overview
The price action continues to have a positive daily swing bias and is currently moving higher following a correction back towards the 34 period moving averages and trend line support.
Focus on today
This morning GBPUSD is trading above the previous day’s high and within a 69 pip early morning Tokyo session range.
Furthermore currently GBPUSD has this morning trading within the 1.6419/1.6485 range high.
AS GBPUSD is trading just between the 1.6419/1.6485 congestion range, I am monitoring the potential for the price action to break out or break down from this area.
Alternatively GBPUSD could continue to trade within the 1.6419/1.6485 area for the rest of the session.
Key intraday levels
GBPUSD: 1.6213, 1.6283, 1.6419, 1.6485.
USDJPY
Yesterday’s summary
Yesterday’s trading saw USDJPY end the session 5 pips higher from its open whilst trading a 15 pip range.
Market overview
The price action continues to have a positive daily swing bias and is currently moving higher following a correction back towards the 8 period moving averages.
Focus on today
This morning USDJPY is trading below the previous day’s low and within a 36 pip early morning Tokyo session range.
Furthermore currently USDJPY has this morning trading within the 104.67/105.03 previous day range high.
AS USDJPY is trading within the 104.67/105.03 congestion range, I am monitoring the potential for the price action to break out or break down from this area.
Alternatively USDJPY could continue to trade within the 104.67/105.03 area for the rest of the session.
Key intraday levels
USDJPY: 102.49, 102.69, 104.67, 105.03.
USDCHF
Yesterday’s summary
Yesterday’s trading saw USDCHF end the session 2 pips higher from its open whilst trading a 18 pip range.
Market overview
Following the break of 24th October low at 0.8889 the trend in USDCHF has changed to negative on a swing bases. The current market activity can be viewed as a corrective move up to trend line resistance.
I am monitoring a possible return back to the down trend with this early morning negativity potentially indicating this scenario.
Focus on today
This morning USDCHF is trading below the previous day’s low and within a 52 pip early morning Tokyo session range.
Furthermore currently USDCHF is also trading between the 0.8831/0.8869 and 0.8982/0.9001 price congestion areas.
AS USDCHF is trading between the 0.8831/0.8869 and 0.8982/0.9001 price congestion areas, I am monitoring the potential for the price action to break up our break down into these areas.
Alternatively there is a possibility that USDCHF trades in between the 0.8869/0.8982 levels for the rest of the day.
Key intraday levels
USDCHF: 0.8831, 0.8869, 0.8982, 0.9001.
EURUSD
Yesterday’s summary
Yesterday’s trading saw EURUSD end the session 11 pips higher from its open whilst trading a 27 pip range.
Market overview
The price action continues to have a negative daily swing bias whilst trading within a large expanding triangle. Thursday EURUSD traded and closed within the range of the previous day. EURUSD has this morning broken back above the 8 period moving averages. I am monitoring a potential move to the 25th October swing high pivot at 1.3832.
Focus on today
This morning EURUSD is trading above the previous day’s high and within a 84 pip early morning Tokyo session range.
Furthermore currently EURUSD has this morning broken into the 1.3763 to 1.3811 range high.
AS EURUSD is trading just broken into the 1.3763/1.3811 congestion range, I am monitoring the potential for the price action to continue with further upward momentum.
Alternatively EURUSD could find resistance as it trades into the 1.3763/1.3811 congestion range which could lead to a potential downside pressure.
Key intraday levels
EURUSD: 1.3624 1.3647, 1.3763, 1.3811
GBPUSD
Yesterday’s summary
Yesterday’s trading saw GBPUSD end the session 27 pips higher from its open whilst trading a 69 pip range.
Market overview
The price action continues to have a positive daily swing bias and is currently moving higher following a correction back towards the 34 period moving averages and trend line support.
Focus on today
This morning GBPUSD is trading above the previous day’s high and within a 69 pip early morning Tokyo session range.
Furthermore currently GBPUSD has this morning trading within the 1.6419/1.6485 range high.
AS GBPUSD is trading just between the 1.6419/1.6485 congestion range, I am monitoring the potential for the price action to break out or break down from this area.
Alternatively GBPUSD could continue to trade within the 1.6419/1.6485 area for the rest of the session.
Key intraday levels
GBPUSD: 1.6213, 1.6283, 1.6419, 1.6485.
USDJPY
Yesterday’s summary
Yesterday’s trading saw USDJPY end the session 5 pips higher from its open whilst trading a 15 pip range.
Market overview
The price action continues to have a positive daily swing bias and is currently moving higher following a correction back towards the 8 period moving averages.
Focus on today
This morning USDJPY is trading below the previous day’s low and within a 36 pip early morning Tokyo session range.
Furthermore currently USDJPY has this morning trading within the 104.67/105.03 previous day range high.
AS USDJPY is trading within the 104.67/105.03 congestion range, I am monitoring the potential for the price action to break out or break down from this area.
Alternatively USDJPY could continue to trade within the 104.67/105.03 area for the rest of the session.
Key intraday levels
USDJPY: 102.49, 102.69, 104.67, 105.03.
USDCHF
Yesterday’s summary
Yesterday’s trading saw USDCHF end the session 2 pips higher from its open whilst trading a 18 pip range.
Market overview
Following the break of 24th October low at 0.8889 the trend in USDCHF has changed to negative on a swing bases. The current market activity can be viewed as a corrective move up to trend line resistance.
I am monitoring a possible return back to the down trend with this early morning negativity potentially indicating this scenario.
Focus on today
This morning USDCHF is trading below the previous day’s low and within a 52 pip early morning Tokyo session range.
Furthermore currently USDCHF is also trading between the 0.8831/0.8869 and 0.8982/0.9001 price congestion areas.
AS USDCHF is trading between the 0.8831/0.8869 and 0.8982/0.9001 price congestion areas, I am monitoring the potential for the price action to break up our break down into these areas.
Alternatively there is a possibility that USDCHF trades in between the 0.8869/0.8982 levels for the rest of the day.
Key intraday levels
USDCHF: 0.8831, 0.8869, 0.8982, 0.9001.