DAILY OVERVIEW
Trend : Long
Ambush Zone : 1.3195 – 1.3080
Target 1 : 1.3400
Target 2 : 1.3385
Stop : < 1.2995
Comments
There has been a sufficient pull back to allow us to post the next possible Fibonacci support range. As previously mentioned the 8 period moving average may offer some initial 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 GBPUSD as at 16th January 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : 1.6105 – 1.5945
Target 1 : 1.6385
Target 2 : 1.6620
Stop : <1.5825
Comments
GBPUSD continues to trade around Fibonacci support with the previous 3 sessions trading within the range of the 10th January candle. We are monitoring for a possible 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 Gold as at 16th January 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : 1660 – 1680
Target 1 : 1625
Target 2 : 1590
Stop : >1695
Comments
This morning, Gold has open positively and is now trading above upper Fibonacci resistance level. Although the bias based upon the strategy remains negative our eye is drawn to a possible breach of the prior Lower High as this may indicate a termination or pause of this down trend.
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 January 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : 89.55 – 87.00
Target 1 : 93.80
Target 2 : 100.40
Stop : <85.20
Comments
The downward sloping trend line continues to offer strong resistance. We continue to monitor the price action for a possible attempt to once again breach this resistance or alternatively for oil to pull back in the direction of 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 USDCHF as at 16th January 2013
DAILY OVERVIEW
Trend : -
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -
Comments
Yesterday we saw a powerful move through the downward sloping trend line that was offering resistance. We have yet to see a 3 bar swing reversal which would change the bias to the long side however we have HH and HL Micro Swing pivots which combined with the trend line break points to a possible trend reversal or pause. For the shorts to stay in control, a down move needs to break the down trend line with conviction and then at least take out MS isolated 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 16th January 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : 88.65 -83.40
Target 1 : 89.70
Target 2 : 92.90
Stop : <81.65
Comments
Yesterday’s close beneath the low of the prior isolated HH together with today’s negative open has allowed us to post a possible scenario. Our bias is long but with a preference to participate in the market in or around 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