Daily Technical Analysis for EURUSD as at 10th January 2013Daily OverviewTrend : Long
Ambush Zone : 1.3090 - 1.2965
Target 1 : 1.3310
Target 2 : 1.3385
Stop : <1.2875
CommentsAs posted yesterday. EURUSD continues to trade around the Fibonacci support area. A reaction may also occur as the price action approaches the upward sloping trend line. We continue to monitor a possible move to Target 1.
DefinitionsHH : Higher High
HL : Higher Low
LL : Lower Low
LH : Lower High
CofT : Change of Trend
Daily Technical Analysis for GBPUSD as at 10th January 2013Daily OverviewTrend : Long
Ambush Zone : 1.6105 - 1.5945
Target 1 : 1.6385
Target 2 : 1.6620
Stop : <1.5825
CommentsGBPUSD has opened negatively this morning of what maybe the third straight down day. However we are still very early into the session with London yet to open therefore reasonably this pair still has time to close higher. The price action continues to trade within Fibonacci support. We are monitoring a possible move to Target 1. If GBPUSD breaks down from these levels there is a possibility of a bounce off the downward sloping trend line.
DefinitionsHH : Higher High
HL : Higher Low
LL : Lower Low
LH : Lower High
CofT : Change of Trend
Daily Technical Analysis for USDJPY as at 10th January 2013Daily OverviewTrend : Long
Ambush Zone : 85.05 - 83.10
Target 1 : 88.35
Target 2 : 85.50
Stop : <81.65
CommentsThe close beneath the low of the last isolated high was negated by subsequent price action with the 8 period moving average offering support. We are monitoring the possibility USDJPY trading above the last high. A failure to achieve new highs however may herald a move to Fibonacci support. The bias is to the long side with the preferred entry points being around the 8 and 34 period moving averages and the then Fibonacci support. However with such strong news based move further upside momentum is possible.
DefinitionsHH : Higher High
HL : Higher Low
LL : Lower Low
LH : Lower High
CofT : Change of Trend
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Daily Technical Analysis for USDCHF as at 10th January 2013[/center]
Daily OverviewTrend : Short
Ambush Zone : 0.9230 - 0.9320
Target 1 : 0.9080
Target 2 : 0.9040
Stop : >0.9380
CommentsUSDCHF has this morning open positively with an open above the downward sloping trend line. We are however still trading within Fibonacci resistance. We continue to monitor the price action at these levels for weakness which would signal a possible resumption of the down trend
DefinitionsHH : Higher High
HL : Higher Low
LL : Lower Low
LH : Lower High
CofT : Change of Trend
Daily Technical Analysis for Oil (WTI) as at 10th January 2013Daily OverviewTrend : Long
Ambush Zone : 89.55 - 87.00
Target 1 : 93.80
Target 2 : 100.40
Stop : <85.20
CommentsOil is experiencing a tight consolidation at the highs. As previously posted, our bias on Oil is long but with a preference to enter the market at Fibonacci support. However Oil has continued to trade at its highs which may possibly indicate further upside momentum.
DefinitionsHH : Higher High
HL : Higher Low
LL : Lower Low
LH : Lower High
CofT : Change of Trend
Daily Technical Analysis for Gold as at at 10th January 2013Daily OverviewTrend : Short
Ambush Zone : 1660 - 1680
Target 1 : 1625
Target 2 : 1590
Stop : >1695
CommentsAfter such high recent volatility Gold has experienced a fairly tight range. We are now in Fibonacci resistance. We are monitoring the price action for signs of weakness that may indicate a possible resumption of the down trend into the direction of Target 1.
DefinitionsHH : Higher High
HL : Higher Low
LL : Lower Low
LH : Lower High
CofT : Change of Trend
