DAILY OVERVIEW
Trend : Long
Ambush Zone : 1.3485 -1.3360
Target 1 : 1.3710
Target 2 : 1.4250
Stop : <1.3263
Comments
EURUSD has attempted to bounce from the Fibonacci support area only for it to fall on the back of news. We are monitoring the price action at these levels. If EURUSD can stabilize, then another attempt for an upward break could be made. A point of note is that he current price level being just above a recent congestion area and moving average. A break beneath this area will mean that we would have to reevaluate the current long bias.
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 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 rejected the upward sloping trend line and moved towards the 8 period moving averages where it found some resistance. A break above this average could see GBPUSD move up to the downward sloping trend line. Alternatively a failure to trade higher could see GBPUSD make another attempt to break 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 8th February 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : 0.9205 – 0.9310
Target 1 : 0.9020
Target 2 : 0.8930
Stop : >0.9390
Comments
USDCHF has traded back to just beneath Fibonacci resistance. We are monitoring the price action for a possible negative rotation at these levels.
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 February 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -
Comments
USDJPY has traded back to the 8 period moving averages. We are monitoring the price action as previous touches of this average have shown to be good 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 8th 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 “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 8th February 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -
Comments
Yesterday’s lower close negated somewhat the strong close of the 6th February. Oil continues to trade beneath the 8 period moving averages. The two short term scenarios we envisage are that Oil could possibly trades back to the 34 period moving averages where support may come in or that 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