DAILY OVERVIEW
Trend : Long
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -
Comments
As posted previously “EURUSD continues to trade higher. We are monitoring pull backs to the 8 period moving averages as a potential area of support. As yet we have not identified any Fibonacci support zones”.
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 1st 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 has slashed through the 8 period moving averages where Fibonacci resistance can also be found together with a previously broken downward sloping trend line. There were no signs of negative rotation where shorts could be taken. Although the Swing set up is still short we are now monitoring the possibility of a move back up to the downward sloping trend line which makes up the top of the triangle pattern.
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 1st February 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : 1661.10 – 1640.80
Target 1 : 1696.40
Target 2 : 1723.30
Stop : <1625.80
Comments
As posted previously “We continue to monitor a possible move up to Target 1. The alternative possible scenario is that this price action is nothing but a false break out which has the potential to break down into the direction of the last isolated 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 Oil (WTI) as at 1st February 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : 91.00 – 87.70
Target 1 : 96.85
Target 2 : 100.40
Stop : <85.20
Comments
As posted previously “The bounce off the 8 period moving has continued with the price action breaking both the triangle formation and the level of the last isolated high. We continue to monitor the price action especially as and when Oil moves back into the direction of 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 USDCHF as at 1st February 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : 0.9230 – 0.9140
Target 1 : 0.9385
Target 2 : 0.9490
Stop : <0.9080
Comments
As posted yesterday “Fibonacci support did not hold and there were no signs of positive rotation at these levels. The price is much extended from the 8 period moving averages. Therefore USDCHF may retrace or trade sideways to allow the gap between the price and average to reduce. We are monitoring any breach of the last isolated LL which would confirm a possible change of trend to the down 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 USDJPY as at 1st 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