Daily Technical Analysis 12.4.2013 By ACFX.com

[Atlas CapitalFx]

Daily Technical Analysis for EURUSD as at 12th April 2013

DAILY OVERVIEW
Trend : Buy
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -



Comments
EURUSD continues to trade higher and the Golden Cross has been completed therefore reinforcing the bullish bias.

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 12th April 2013

DAILY OVERVIEW
Trend : Long
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -




Comments
Further to yesterdays commentary GBPUSD continues to trade above 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 Gold as at 12th April 2013

DAILY OVERVIEW
Trend : Short
Ambush Zone : 1577 – 1599.25
Target 1 : 1539.30
Target 2 : 1526.85
Stop : 1616.60



Comments
As posted yesterday, 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 Oil (WTI) as at 12th 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 did attempt to trade above the 8 period moving averages only to fall back and is now trading beneath the 34 period moving averages.

We are monitoring a possible move to the 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 USDCHF as at 12th April 2013

DAILY OVERVIEW
Trend : -
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -



Comments
The price action continues to trade above both daily, weekly Fibonacci and trend line 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 Technical Analysis for USDJPY as at 12th April 2013

DAILY OVERVIEW
Trend : Long
Ambush Zone : 96.00 – 94.30
Target 1 : 98.85
Target 2 : 100.45
Stop : 92.55



Comments
As commented yesterday, 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

[Atlas CapitalFx]

Daily Technical Analysis for Oil (WTI) as at 7th May 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -



Comments
Oil failed in its attempt to reach Target 1 from its bounce off Fibonacci resistance and has now put in a HL and HH combination. This has coincided with the 8 moving above the 34 period moving averages.

As the price action is extended from the averages we are monitoring the possibility of a corrective pull back prior to a further up move.

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 EURUSD as at 7nd May 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : 1.2970 – 1.2845
Target 1 : 1.3200
Target 2 : 1.3710
Stop : 1.2745




Comments
After hitting Target 1, EURUSD has retraced back to the averages.

We are monitoring the price action at these levels to see if the price action rotates positively prior to making an attempt to take out the prior swing high.

Alternatively if EURUSD can close beneath the 8 period moving averages then the next potential down side target is the 34 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 GBPUSD as at 7th May 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -




Comments
As posted previously, GBPUSD broke and closed above the downward sloping trend line. As the price action continues to be extended from the averages a corrective pullback remains a possibility.

However as the price action has broken resistance there is potential for a move the prior broken upward sloping trend line.

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 7th May 2013
DAILY OVERVIEW
Trend : -
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -





Comments
USDCHF has experience a positive rotation within Fibonacci support. We are currently monitoring the price action to see if USDCHF can complete its attempt of trading above the last swing high

Alternatively, if USDCHF can once again breach trend line support there remains potential for a move to the area of the last swing low.

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 7th May 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : 96.00 – 94.30
Target 1 : 98.85
Target 2 : 100.45
Stop : 92.55




Comments
Following the positive RSI divergence USDJPY bounced off the34 period moving averages and is now trading above the 8 period moving averages. We are monitoring a potential third attempt on breaching the 100 level.

Alternatively if USDJPY can trade beneath the 34 period moving averages there is potential for further selling resulting in a deeper move into 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 7th May 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : 1452.60 – 1525.85
Target 1 : 1321.75
Target 2 : 1308.08
Stop : 1590.20




Comments
As mentioned previously, Gold moved into Fibonacci resistance and is now trading at a previously broken trend line. We are monitoring the price action at these levels for potential negative rotation.

Alternatively if Gold can break above trend line resistance a move to the 34 period moving averages is a possibility.

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

[Atlas CapitalFx]

Daily Technical Analysis for EURUSD as at 8th May 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : 1.2970 – 1.2845
Target 1 : 1.3200
Target 2 : 1.3710
Stop : 1.2745




Comments
EURUSD continues to trade just beneath the 8 period moving averages. We are monitoring a potential move to the prior swing high.

Alternatively if EURUSD cannot close above the 8 period moving averages then the next potential down side target is the 34 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 GBPUSD as at 8th May 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : 1.5400 – 1.5280
Target 1 : 1.5670
Target 2 : 1.5845
Stop : 1.5195



Comments
Yesterday GBPUSD broke and closed beneath the downward sloping trend line and 8 period moving averages. We are monitoring a possible move to Fibonacci support.

Alternatively if GBPUSD can close above the 8 period moving average, there is potential for a move to the area of the last HH.

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 8th May 2013
DAILY OVERVIEW
Trend : -
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -




Comments
USDCHF has traded up to and closed above the 34 period moving averages. We are currently monitoring the price action to see if USDCHF can complete its attempt of trading above the last swing high

Alternatively, if USDCHF can once again breach trend line support there remains potential for a move to the area of the last swing low.

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 8th May 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : 96.00 – 94.30
Target 1 : 98.85
Target 2 : 100.45
Stop : 92.55



Comments
As per our prior posting, following the positive RSI divergence USDJPY bounced off the34 period moving averages and is now trading above the 8 period moving averages. We are monitoring a potential third attempt on breaching the 100 level.

Alternatively if USDJPY can trade beneath the 34 period moving averages there is potential for further selling resulting in a deeper move into 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 Oil (WTI) as at 8th May 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -




Comments
Oil continues to trade within a tight range at the highs of the last move. We are monitoring a potential move into the area of the 1st April high.

Alternatively as the price action is extended from the averages we are monitoring the possibility of a corrective pull back prior to a further up move.

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 8th May 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : 1452.60 – 1525.85
Target 1 : 1321.75
Target 2 : 1308.08
Stop : 1590.20






Comments
Gold yesterday closed beneath the 8 period moving averages and as mentioned previously, bounced off Fibonacci resistance and a previously broken trend line. We are monitoring the price action at these levels for potential move to Target 1.

Alternatively if Gold can break above trend line resistance a move to the 34 period moving averages is a possibility.

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

[Atlas CapitalFx]

Daily Technical Analysis for EURUSD as at 9th May 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : 1.2970 – 1.2845
Target 1 : 1.3200
Target 2 : 1.3710
Stop : 1.2745




Comments
Yesterday EURUSD bounced from the 8 period moving averages. We continue to monitor a potential move to the prior swing high.

Alternatively if EURUSD a fails to make a move higher we could possible see the price action trade down to the 34 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 GBPUSD as at 9th May 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : 1.5400 – 1.5280
Target 1 : 1.5670
Target 2 : 1.5845
Stop : 1.5195




Comments
Yesterday GBPUSD held its support at the downward sloping trend line. If GBPUSD can close above the 8 period moving average, there is potential for a move to the area of the last HH.

Alternatively if GBPUSD cannot breach the last HH, a break of support could possible see GBPUSD move to Fibonacci and upward sloping 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 9th May 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : 1452.60 – 1525.85
Target 1 : 1321.75
Target 2 : 1308.08
Stop : 1590.20




Comments
Gold continues to trade within Fibonacci resistance and at the 8 period moving averages. We are monitoring the price action at these levels for potential move to Target 1.

Alternatively as Gold has broken above trend line resistance a move to the 34 period moving averages is a possibility.

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 9th May 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -




Comments
As posted previously, Oil continues to trade within a tight range at the highs of the last move. We are monitoring a potential move into the area of the 1st April high.

Alternatively as the price action is extended from the averages we are monitoring the possibility of a corrective pull back prior to a further up move.

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 9th May 2013
DAILY OVERVIEW
Trend : -
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -




Comments
USDCHF has initially failed to hold above the 34 period moving averages. We are currently monitoring the price action to see if USDCHF can trade to the last swing low and into Fibonacci support.

Alternatively, if USDCHF can once again trade above trend line support there remains potential for a move to the area of the last Swing High.

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 9th May 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : 96.00 – 94.30
Target 1 : 98.85
Target 2 : 100.45
Stop : 92.55





Comments
As per our prior posting, following the positive RSI divergence USDJPY bounced off the34 period moving averages and is now trading above the 8 period moving averages. We are monitoring a potential third attempt on breaching the 100 level.

Alternatively if USDJPY can trade beneath the 34 period moving averages there is potential for further selling resulting in a deeper move into 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

[Atlas CapitalFx]

Daily Technical Analysis for EURUSD as at 13th May 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -



Comments
EURUSD failed to hold support at the 34 period moving averages and has breached the prior swing low therefore switching the trend from long to short.

We are monitoring the price action at these levels to see if EURUSD can trade beneath Friday’s low and continue down to the upward sloping trend line. Continued downward momentum may also possibly see the 8 period moving averages cross beneath the 34 period moving averages which would confirm the new down trend.

Alternatively if EURUSD can hold support at this area then there is potential for a base forming which could see the price action propelled up to the downward sloping trend line.

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 13th May 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : 1.5400 – 1.5280
Target 1 : 1.5670
Target 2 : 1.5845
Stop : 1.5195



Comments
GBPUSD has traded into Fibonacci support and upward sloping trend line.

We are monitoring the price action to see if GBPUSD can find support at these levels prior to trading to the downward sloping trend line prior to possibly breaching the prior swing high.

Alternatively if GBPUSD can breach the upward sloping trend line there is potential for a move to the prior swing low.

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 13th May 2013
DAILY OVERVIEW
Trend : -
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -



Comments
We mention of Friday “We are monitoring the price action to see if the upward momentum continues and takes USDCHF to the area of the March 2013 highs. This would probably lead to a golden cross of the moving averages.” This scenario happened and effectively the trend has turned positive with the breach of the prior swing high.

USDCHF could potentially trade down to sideways so as to allow the averages can catch up with the price action

Alternatively the upward momentum could continue with a possible target being the 161.80 Fibonacci expansion level.

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

[Atlas CapitalFx]

Daily Technical Analysis for GBPUSD as at 14th May 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : 1.5400 – 1.5280
Target 1 : 1.5670
Target 2 : 1.5845
Stop : 1.5195




Comments
GBPUSD closed beneath the upward sloping trend line but still within Fibonacci support.

We are monitoring the price action to see if GBPUSD can find support at these levels prior to trading to the downward sloping trend line prior to possibly breaching the prior swing high.

Alternatively as GBPUSD has breached the upward sloping trend line there is potential for a move to the prior swing low.

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 EURUSD as at 14th May 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -




Comments
As posted previously, “EURUSD failed to hold support at the 34 period moving averages and has breached the prior swing low therefore switching the trend from long to short.”

We are monitoring the price action at these levels to see if EURUSD can trade beneath Friday’s low and continue down to the upward sloping trend line. Continued downward momentum may also possibly see the 8 period moving averages cross beneath the 34 period moving averages which would confirm the new down trend.

Alternatively if EURUSD can hold support at this area then there is potential for a base forming which could see the price action propelled up to the downward sloping trend line.

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 13th May 2013
DAILY OVERVIEW
Trend : -
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -


http://i1359.photobucket.com/albums/q783/acfxuser1/DTA%2014052013/chf_zpsa1bbd366.gif


Comments
As mentioned yesterday USDCHF has traded down from its highs in what can possibly view as a correction.

We are monitoring the potential for a further correction to the area of the prior Swing High followed by further targets being the 8 period moving average and Fibonacci support.

Alternatively this downward correction could end with a resumption of upward momentum with a possible target being the 161.80 Fibonacci expansion level.

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 14th May 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : 96.00 – 94.30
Target 1 : 98.85
Target 2 : 100.45
Stop : 92.55



Comments
As mention previously “USDJPY has dramatically broken the 100 level and in the process traded through Target 1.”

We have identified 110 as the next potential swing target and the 104 area as a possible Fibonacci expansion target.

Alternatively as the price action is extended, there is potential that USDJPY trades down to sideways as this currency pair corrects and allows the averages to catch up with the last move. Initially support for a possible correction being found at 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 Gold as at 14th May 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : 1452.60 – 1525.85
Target 1 : 1321.75
Target 2 : 1308.08
Stop : 1590.20




Comments
Gold has broken down from Fibonacci resistance and at the 8 period moving averages. We are monitoring the price action at these levels for potential 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 14th May 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -





Comments
As posted previously, Oil on Friday aggressively traded down before bouncing at Fibonacci support. Oil is effectively trading at the top of a large Monthly and Weekly triangle

Oil needs to close above this triangle for the upward momentum to continue with the 138.2% Fibonacci Expansion level in the area of 103 being a potential target. However Oil will need to initially breach the significant 100 level.

Alternatively if Oil cannot break the triangle top could lead to the possibility of moving back 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

[Atlas CapitalFx]

Daily Technical Analysis for EURUSD as at 15th May 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop :




Comments
EURUSD continues to trade lower. We are monitoring a possible move down to the upward sloping trend line. A black cross down trend confirmation is in the process of forming with the 8 period moving averages attempting to cross beneath the 34 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 GBPUSD as at 15th May 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : 1.5400 – 1.5280
Target 1 : 1.5670
Target 2 : 1.5845
Stop : 1.5195




Comments
Although GBPUSD closed beneath the upward sloping trend line and slice through Fibonacci support the price action has failed thus far to breach the prior swing low. As long as this is the case the trend is still positive.

We are monitoring the price action to see if GBPUSD can find support at these levels prior to trading to the downward sloping trend line prior to possibly breaching the prior swing high.

Alternatively as GBPUSD has breached the upward sloping trend line there is potential for a breach of the prior swing low.

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 15th May 2013
DAILY OVERVIEW
Trend : -
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -




Comments
USDCHF initially traded lower only to reverse and close above the prior high on its potential approach to the 161.80 Fibonacci expansion level.

Alternatively as the price action is extended from the averages there is a possibility that USDCHF corrects down to the prior Swing High followed by further targets being the 8 period moving average and 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 USDJPY as at 15th May 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : 96.00 – 94.30
Target 1 : 98.85
Target 2 : 100.45
Stop : 92.55




Comments
As mention previously “USDJPY has dramatically broken the 100 level and in the process traded through Target 1.”

We have identified 110 as the next potential swing target and the 104 area as a possible Fibonacci expansion target.

Alternatively as the price action is extended, there is potential that USDJPY trades down to sideways as this currency pair corrects and allows the averages to catch up with the last move. Initially support for a possible correction being found at 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 Gold as at 15th May 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : 1452.60 – 1525.85
Target 1 : 1321.75
Target 2 : 1308.08
Stop : 1590.20




Comments
As posted previously Gold has broken down from Fibonacci resistance and at the 8 period moving averages. We are monitoring the price action at these levels for potential 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 15th May 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : 93.60 – 91.60
Target 1 : 97.10
Target 2 : 100.00
Stop : 90.00




Comments
As posted previously, Oil on Friday aggressively traded down before bouncing at Fibonacci support. Oil is effectively trading at the top of a large Monthly and Weekly triangle

Oil needs to close above this triangle for the upward momentum to continue with the 138.2% Fibonacci Expansion level in the area of 103 being a potential target. However Oil will need to initially breach the significant 100 level.

Alternatively if Oil cannot break the triangle top could lead to the possibility of moving back 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

[Atlas CapitalFx]

Daily Technical Analysis for EURUSD as at 16th May 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -




Comments
EURUSD yesterday traded down to the upward sloping trend line and this has been followed by a black cross down trend confirmation where the 8 period moving averages have crossed beneath the 34 period moving averages.

A break of the upward sloping trend line has the potential to follow through to the area of the 4th April Swing Low.

Alternatively as the price action is extended from the averages there is a possibility that EURUSD bounces from trend line support with the initial target being 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 GBPUSD as at 16th May 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -



Comments
Following the break of trend line support the price action has now breached the prior swing low therefore changing the trend to negative.

We are monitoring a potential move to the 1.5030 area which is a pivot low for the 4th April.

Alternatively as GBPUSD is extended from its averages there is a possibility that trades up to the area of the 8 period moving averages. This area also coincides with broken trend line support which now becomes resistance and Fibonacci resistance.

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 16th May 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -





Comments
USDCHF has hit and rejected the 161.80 target level.

As the price action is extended from the averages there is a possibility that USDCHF corrects down to the prior Swing High followed by further targets being the 8 period moving average and Fibonacci support.

Alternatively, a further break of the 161.8 level has the potential to follow through to the 200 Fibonacci extension level with further targets being 0.9970 which corresponds to a prior Swing High and then the significant USDCHF 1.0000 level.

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 16th May 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -





Comments
USDJPY continues to trade at its highs without making any significant progress over the past few sessions. The RSI is showing a weekly negative divergence.

We have identified 110 as the next potential swing target and the 104 area as a possible Fibonacci expansion target.

Alternatively as the price action is extended, there is potential that USDJPY trades down to sideways as this currency pair corrects and allows the averages to catch up with the last move. Initially support for a possible correction being found at 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 Gold as at 16th May 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : 1452.60 – 1525.85
Target 1 : 1321.75
Target 2 : 1308.08
Stop : 1590.20





Comments
As posted previously Gold has broken down from Fibonacci resistance and at the 8 period moving averages. We are monitoring the price action at these levels for potential 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 16th May 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : 93.60 – 91.60
Target 1 : 97.10
Target 2 : 100.00
Stop : 90.00





Comments
Oil has traded down into Fibonacci and trend line support where it experienced a significant bounce and where a bullish candle stick hammer formed. Oil however continues to trade near the highs of a large Monthly and Weekly triangle.

Oil needs to close above this triangle for the upward momentum to continue with the 138.2% Fibonacci Expansion level in the area of 103 being a potential target. However Oil will need to initially breach the significant 100 level.

Alternatively if Oil cannot move higher from these levels and break the triangle top could lead to the possibility that we see a further pull back with the initial target being the last swing low.

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

[Atlas CapitalFx]

Daily Technical Analysis for EURUSD as at 17th May 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -




Comments
As posted previously, EURUSD yesterday traded down to the upward sloping trend line and this has been followed by a black cross down trend confirmation where the 8 period moving averages have crossed beneath the 34 period moving averages.

A break of the upward sloping trend line has the potential to follow through to the area of the 4th April Swing Low.

Alternatively as the price action is extended from the averages there is a possibility that EURUSD bounces from trend line support with the initial target being 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 GBPUSD as at 17th May 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -



Comments
As posted previously, following the break of trend line support the price action has now breached the prior swing low therefore changing the trend to negative.

We are monitoring a potential move to the 1.5030 area which is a pivot low for the 4th April.

Alternatively as GBPUSD is extended from its averages there is a possibility that trades up to the area of the 8 period moving averages. This area also coincides with broken trend line support which now becomes resistance and Fibonacci resistance.

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 17th May 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -




Comments
USDCHF has hit and rejected the 161.80 target level and traded down to the 8 period moving averages.

We are monitoring the potential for a further break of the 161.8 level. A move above this level has the potential to follow through to the 200 Fibonacci extension level with further targets being 0.9970 which corresponds to a prior Swing High and then the significant USDCHF 1.0000 level.

Alternatively a failure to break above the 161.8 level could possibly lead to a deeper pullback into Fibonacci support. This would coincide with the formation of a weekly negative RSI divergence.

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 17th May 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -






Comments
As posted previously, USDJPY continues to trade at its highs without making any significant progress over the past few sessions. The RSI is showing a weekly negative divergence.

We have identified 110 as the next potential swing target and the 104 area as a possible Fibonacci expansion target.

Alternatively as the price action is extended, there is potential that USDJPY trades down to sideways as this currency pair corrects and allows the averages to catch up with the last move. Initially support for a possible correction being found at 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 Gold as at 17th May 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : 1452.60 – 1525.85
Target 1 : 1321.75
Target 2 : 1308.08
Stop : 1590.20




Comments
As posted previously Gold has broken down from Fibonacci resistance and at the 8 period moving averages. We are monitoring the price action at these levels for potential 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 17th May 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : 93.60 – 91.60
Target 1 : 97.10
Target 2 : 100.00
Stop : 90.00




Comments
Oil experienced a good move up off Fibonacci and trend line support but continues to trade near the highs of a large Monthly and Weekly triangle.

Oil needs to close above this triangle for the upward momentum to continue with the 138.2% Fibonacci Expansion level in the area of 103 being a potential target. However Oil will need to initially breach the significant 100 level.

Alternatively if Oil cannot move higher from these levels and break the triangle top could lead to the possibility that we see a further pull back with the initial target being the last swing low.

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

[Atlas CapitalFx]

Daily Technical Analysis for EURUSD as at 20th May 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -




Comments
EURUSD is attempting to close beneath the upward sloping trend line. We are monitoring a potential move to the area of the 4th April Swing Low.

Alternatively as the price action is extended from the averages there is a possibility that EURUSD bounces from trend line support with the initial target being 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 GBPUSD as at 20th May 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -





Comments
GBPUSD continues to trade lower, following the break of trend line support the price action has now breached the prior swing low therefore changing the trend to negative.

We are monitoring a potential move to the 1.5030 area which is a pivot low for the 4th April.

Alternatively as GBPUSD is extended from its averages there is a possibility that trades up to the area of the 8 period moving averages. This area also coincides with broken trend line support which now becomes resistance and Fibonacci resistance.

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 20th May 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -






Comments
USDCHF has again traded up to the 161.80 extension level

We are monitoring the potential for a further break of the 161.8 level. A move above this level has the potential to follow through to the 200 Fibonacci extension level with further targets being 0.9970 which corresponds to a prior Swing High and then the significant USDCHF 1.0000 level.

Alternatively a failure to break above the 161.8 level could possibly lead to a deeper pullback into Fibonacci support. This would coincide with the formation of a weekly negative RSI divergence.

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 20th May 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -





Comments
As posted previously, USDJPY continues to trade at its highs without making any significant progress over the past few sessions. The RSI is showing a weekly negative divergence.

We have identified 110 as the next potential swing target and the 104 area as a possible Fibonacci expansion target.

Alternatively as the price action is extended, there is potential that USDJPY trades down to sideways as this currency pair corrects and allows the averages to catch up with the last move. Initially support for a possible correction being found at 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 Gold as at 20th May 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : 1452.60 – 1525.85
Target 1 : 1321.75
Target 2 : 1308.08
Stop : 1590.20





Comments
As posted previously Gold has broken down from Fibonacci resistance and at the 8 period moving averages. We are monitoring the price action at these levels for potential 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 20th May 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : 93.60 – 91.60
Target 1 : 97.10
Target 2 : 100.00
Stop : 90.00






Comments
As posted previously Oil experienced a good move up off Fibonacci and trend line support but continues to trade near the highs of a large Monthly and Weekly triangle.

Oil needs to close above this triangle for the upward momentum to continue with the 138.2% Fibonacci Expansion level in the area of 103 being a potential target. However Oil will need to initially breach the significant 100 level.

Alternatively if Oil cannot move higher from these levels and break and close above the triangle top could lead to the possibility that we see a further pull back with the initial target being the last swing low.

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