Daily Technical Analysis for 30th December 2013 from ACFX
Posted: Mon Dec 30, 2013 8:20 amDaily Technical Analysis for 30th December 2013 from ACFX
EURUSD
Yesterday’s summary
Yesterday’s trading saw EURUSD end the session 56 pips higher from its open whilst trading a 205 pip range.
Market overview
Following Friday’s breach of the 25th October pivot high the swing bias is now positive on both the daily and weekly time frames. This move followed a correction and bounce off support and the 8 period moving averages.
Friday’s EURUSD traded an extremely large upside move of some 205 pips which is nearly 3 times the average daily range. The move proved to be too big and this eventually led to a correction back to support. . I am monitoring a possible continuation of the upside momentum.
Focus on today
This morning EURUSD is trading within the previous day’s range and within a 35 pip early morning Tokyo session range.
Furthermore currently EURUSD is this morning trading within the 1.3893/1.3837 morning range low.
AS EURUSD is trading between the 1.3893/1.3837 congestion range, I am monitoring the potential for the price action to break out or break down from this area.
Alternatively EURUSD could continue to trade within the 1.3893/1.3837 area for the rest of the session.
Key intraday levels
EURUSD: 1.3727 1.3762, 1.3837, 1.3893
GBPUSD
Yesterday’s summary
Yesterday’s trading saw GBPUSD end the session 72 pips higher from its open whilst trading a 173 pip range.
Market overview
The price action continues to have a positive daily swing bias on both daily and weekly time frames with the current market activity being a continuation of the bounce off the 8 period moving averages.
Friday’s volatile price action printed a large 173 pip daily range. On breaching the previous high of 1.6484 by some distance GBPUSD experienced a correction back to this level. I am monitoring a possible continuation of the upside momentum.
Focus on today
This morning GBPUSD is trading within the previous day’s range and within a 20 pip early morning Tokyo session range.
Furthermore currently GBPUSD is also trading between the 1.6213/1.6283 to 1.6527/1.6577 price congestion areas.
AS GBPUSD is trading between the 1.6213/1.6283 to 1.6527/1.6577 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 GBPUSD trades in between the 1.6213/1.6283 to 1.6527/1.6577 levels for the rest of the day.
Key intraday levels
GBPUSD: 1.6213, 1.6283, 1.6527, 1.6577.
USDJPY
Yesterday’s summary
Yesterday’s trading saw USDJPY end the session 37 pips higher from its open whilst trading a 57 pip range.
Market overview
USDJPY continues to have a positive daily and weekly swing bias and is currently moving higher following a correction back towards the 8 period moving averages. I am monitoring a possible continuation of the upside momentum.
Focus on today
This morning USDJPYis trading above the previous day’s high and within a 15 pip early morning Tokyo session range.
Furthermore currently USDJPY is this morning trading within the 105.15/105.41 morning range high.
AS USDJPY is trading just above/beneath/between the 105.15/105.41 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 105.15/105.41 area for the rest of the session.
Key intraday levels
USDJPY: 103.76, 103.98, 105.15, 105.41.
USDCHF
Yesterday’s summary
Yesterday’s trading saw USDCHF end the session 49 pips lower from its open whilst trading a 168 pip range.
Market overview
USDCHF continues to have a negative daily and weekly swing bias as the price action prints new lower lows.
Friday’s price action was extremely volatile with USDCHF printing a very large 168 pip range. The initial early morning move breached the previous swing low. However the latter part of the trading day saw USDCHF correct back to the 8 period moving averages value area. I am monitoring a possible continuation of the downside momentum.
Focus on today
This morning USDCHF is trading within the previous day’s range and within a 26 pip early morning Tokyo session range.
Furthermore currently USDCHF is also trading between the 0.8798/0.8844 to 0.8982/0.9001 price congestion areas.
AS USDCHF is trading between the 0.8798/0.8844 to 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 0.8798/0.8844 to 0.8982/0.9001 levels for the rest of the day.
Key intraday levels
USDCHF: 0.8798, 0.8844, 0.8982, 0.9001.
EURUSD
Yesterday’s summary
Yesterday’s trading saw EURUSD end the session 56 pips higher from its open whilst trading a 205 pip range.
Market overview
Following Friday’s breach of the 25th October pivot high the swing bias is now positive on both the daily and weekly time frames. This move followed a correction and bounce off support and the 8 period moving averages.
Friday’s EURUSD traded an extremely large upside move of some 205 pips which is nearly 3 times the average daily range. The move proved to be too big and this eventually led to a correction back to support. . I am monitoring a possible continuation of the upside momentum.
Focus on today
This morning EURUSD is trading within the previous day’s range and within a 35 pip early morning Tokyo session range.
Furthermore currently EURUSD is this morning trading within the 1.3893/1.3837 morning range low.
AS EURUSD is trading between the 1.3893/1.3837 congestion range, I am monitoring the potential for the price action to break out or break down from this area.
Alternatively EURUSD could continue to trade within the 1.3893/1.3837 area for the rest of the session.
Key intraday levels
EURUSD: 1.3727 1.3762, 1.3837, 1.3893
GBPUSD
Yesterday’s summary
Yesterday’s trading saw GBPUSD end the session 72 pips higher from its open whilst trading a 173 pip range.
Market overview
The price action continues to have a positive daily swing bias on both daily and weekly time frames with the current market activity being a continuation of the bounce off the 8 period moving averages.
Friday’s volatile price action printed a large 173 pip daily range. On breaching the previous high of 1.6484 by some distance GBPUSD experienced a correction back to this level. I am monitoring a possible continuation of the upside momentum.
Focus on today
This morning GBPUSD is trading within the previous day’s range and within a 20 pip early morning Tokyo session range.
Furthermore currently GBPUSD is also trading between the 1.6213/1.6283 to 1.6527/1.6577 price congestion areas.
AS GBPUSD is trading between the 1.6213/1.6283 to 1.6527/1.6577 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 GBPUSD trades in between the 1.6213/1.6283 to 1.6527/1.6577 levels for the rest of the day.
Key intraday levels
GBPUSD: 1.6213, 1.6283, 1.6527, 1.6577.
USDJPY
Yesterday’s summary
Yesterday’s trading saw USDJPY end the session 37 pips higher from its open whilst trading a 57 pip range.
Market overview
USDJPY continues to have a positive daily and weekly swing bias and is currently moving higher following a correction back towards the 8 period moving averages. I am monitoring a possible continuation of the upside momentum.
Focus on today
This morning USDJPYis trading above the previous day’s high and within a 15 pip early morning Tokyo session range.
Furthermore currently USDJPY is this morning trading within the 105.15/105.41 morning range high.
AS USDJPY is trading just above/beneath/between the 105.15/105.41 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 105.15/105.41 area for the rest of the session.
Key intraday levels
USDJPY: 103.76, 103.98, 105.15, 105.41.
USDCHF
Yesterday’s summary
Yesterday’s trading saw USDCHF end the session 49 pips lower from its open whilst trading a 168 pip range.
Market overview
USDCHF continues to have a negative daily and weekly swing bias as the price action prints new lower lows.
Friday’s price action was extremely volatile with USDCHF printing a very large 168 pip range. The initial early morning move breached the previous swing low. However the latter part of the trading day saw USDCHF correct back to the 8 period moving averages value area. I am monitoring a possible continuation of the downside momentum.
Focus on today
This morning USDCHF is trading within the previous day’s range and within a 26 pip early morning Tokyo session range.
Furthermore currently USDCHF is also trading between the 0.8798/0.8844 to 0.8982/0.9001 price congestion areas.
AS USDCHF is trading between the 0.8798/0.8844 to 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 0.8798/0.8844 to 0.8982/0.9001 levels for the rest of the day.
Key intraday levels
USDCHF: 0.8798, 0.8844, 0.8982, 0.9001.