DAILY OVERVIEW
Trend : Long
Ambush Zone : 1.3485 -1.3360
Target 1 : 1.3710
Target 2 : 1.4250
Stop : <1.3263
Comments
After such a strong up move a correction was inevitable. EURUSD has now traded back into Fibonacci support. We are monitoring the price action at these levels for a possible positive rotation.
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 5th February 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : 1.5780 – 1.5845
Target 1 : 1.5675
Target 2 : 1.5485
Stop : >1.5895
Comments
GBPUSD upward advance was held and repelled aggressively from the Fibonacci resistance area. We are monitoring the possibility of either bounce off the upward sloping multi month trend line or a break through this line of support which would lead to the possibility of much lower values for GBPUSD.
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 5th February 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : 1661.10 – 1640.80
Target 1 : 1696.40
Target 2 : 1723.30
Stop : <1625.80
Comments
Gold continues to bounce around the Fibonacci support area. We are monitoring the possibility of 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 5th February 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -
Comments
Oil for the first time in two months has traded significantly under the 8 period moving averages. The 34 period moving averages and the downward sloping trend line may offer some possible support. Alternatively Oil may make an attempt to trade up to and possibly breach the last isolated 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 5th February 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -
Comments
USDCHF has breach of the last isolated LL which would confirm a possible change of trend to the down side. The indecision of the past two weeks can be seen by the pattern that has been created with HH’s and LL’s which has formed an expanding triangle formation. The downward move has stalled somewhat as the averages do need to catch up with the price action. We a monitoring for possible sideways action or a move back to 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 USDJPY as at 5th February 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -
Comments
As posted yesterday “USDJPY continues to trade higher. We continue to monitor the price action for a potential pull back to the 8 period moving averages where support may come in”.
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