Daily Technical Analysis for EURUSD as at 5th December 2013
Yesterday’s summary
Yesterday’s trading saw EURUSD end the session slightly higher from its open whilst trading a 75 pip range.
The price action continues to have a negative daily swing bias whilst trading within a large expanding triangle and horizontal congestion range.
Focus on today
This morning’s EURUSD has broken higher in early trading. EURUSD is now trading above the highs of the previous 6 trading sessions and is currently trading 40 pips above its intraday low and printed a large 60 pip daily range.
AS EURUSD is trading within today’s high range which is 1.3600 to 1.3640, I am monitoring the potential for this trading range to hold with the price action bouncing within these levels. Alternatively breaks above or beneath this range could offer potential trading opportunities in the direction of the break out or break down.
Key intraday levels:
EURUSD: 1.3523 1.3557, 1.3600, 1.3640.
Daily Technical Analysis for GBPUSD as at 55h December2013
Yesterday’s summary
Yesterday’s trading saw GBPUSD end the session slightly lower from its open whilst trading an 83 pip range.
The price action continues to have a positive daily swing bias and is currently trading around the 1.6400 area which appears to be a major resistance level.
Focus on today
This morning’s GBPUSD had been trading within a 12 pip range but has since broken higher over the past hour and is now trading 33 pips off its intraday low.
As GBPUSD is trading within the yesterday’s high range which is 1.6368 to 1.6442. I am monitoring the potential for this trading range to hold with the price action bouncing within these levels.
Alternatively breaks above or beneath this range could offer potential trading opportunities in the direction of the break out or break down.
Key intraday levels:
GBPUSD: 1.6132, 1.6174, 1.6368, 1.6442.
Daily Technical Analysis for USDCHF as at 5th December 2013
Yesterday’s summary
Yesterday’s trading saw USDCHF close 21 pips lower from that day’s open whilst trading a 64 pip range.
The price action continues to have a positive daily swing bias whilst trading within a bullish flag formation.
Focus on today
This morning’s USDCHF had been trading within a 7 pip range but has since broken down over the past 4 hours and is now trading 15 pips lower off its intraday high.
As USDCHF is trading within the today’s low range which is 0.9010 to 0.8983, I am monitoring the potential for this trading range to hold with the price action bouncing within these levels. Alternatively breaks above or beneath this range could offer potential trading opportunities in the direction of the break out or break down.
Key intraday levels:
USDCHF: 0.8983, 0.9010, 0.9084, 0.9110.
Daily Technical Analysis for USDJPY as at 5th December 2013
Yesterday’s summary
Yesterday’s trading saw USDJPY close 18 pips lower from the previous day’s open whilst trading a 102 pip range.
The price action continues to have a positive daily swing bias. The 103.70 level is still offering both a target and a strong resistance level to current market activity.
Focus on today
This morning’s USDJPY had been trading within a 26 pip range but has since broken down over the past three hours and is now trading 58 pips lower off its intraday high.
USDJPY is trading between the 101.13, 101.35 and 103.05, 103.38 intraday low to high ranges. I am currently monitoring a potential move into the 101.35 to 101.13 support area. Alternatively a failure to break into this lower range could see USDJPY trade back up to the 103.05 to 103.38 resistance range.
Key intraday levels:
USDJPY: 100.13, 101.35, 103.05, 103.38.