Daily Technical Analysis for 12th December 2013 from ACFX
Posted: Thu Dec 12, 2013 6:10 amDaily Technical Analysis for 12th December 2013 from ACFX
EURUSD
Yesterday’s summary
Yesterday’s trading saw EURUSD end the session 26 pips higher from its open whilst trading a 73 pip range.
The price action continues to have a negative daily swing bias whilst trading within a large expanding triangle.
However I am now seeing a acceleration to the upside following a break above the large horizontal congestion range. This could indicate that EURUSD will attempt to trade up to the 25th October high at 1.3832.
Focus on today
This morning’s EURUSD is trading below the previous day’s high within range and within a 25 pip early morning Tokyo session range. Furthermore currently EURUSD is also trading within the 1.3811 to 1.3763 resistance zone.
AS EURUSD is trading within 1.3811/1.3763 range, I am monitoring the potential for this trading range to hold with the price action bouncing between 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: 1.3520 1.3565, 1.3763, 1.3811
GBPUSD
Yesterday’s summary
Yesterday’s trading saw GBPUSD end the session 71 pips lower from its open whilst trading a 118 pip range.
The price action continues to have a positive daily swing bias and is currently trading above the 1.6400 resistance area following the bounce off the 8 period moving averages.
Focus on today
This morning’s GBPUSD is trading above the previous day’s low and within a 53 pip early morning Tokyo session range. Furthermore currently GBPUSD is also trading between the 1.6130/1.6175 to 1.6419/1.6466 congestion areas.
AS GBPUSD is trading between the 6130/1.6175 to 1.6419/1.6466 price congestion areas, I am monitoring the potential for the price action to break up our break down into these areas.
Alternatively there is a possibility that GBPUSD trades in between the 1.6175 to 1.6419 levels for the rest of the day.
Key intraday levels
GBPUSD: 1.6130, 1.6175, 1.6419, 1.6466.
USDJPY
Yesterday’s summary
Yesterday’s trading saw USDJPY close 40 pips lower from its open whilst trading an 80 pip range.
The price action continues to have a positive daily swing bias with the price action hovering above the 8 period moving averages. 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 is trading beneath the previous day’s high and within a 39 pip early morning Tokyo session range. Furthermore currently USDJPY is also trading between the 102.00/102.35 to 103.05/103.40 price congestion areas.
AS USDJPY is trading between the 102.00/102.35 to 103.05/103.40 price congestion areas, I am monitoring the potential for the price action to break up our break down into these areas.
Alternatively there is a possibility that USDJPY trades in between the 102.35 to 103.05 levels for the rest of the day.
Key intraday levels
USDJPY: 102.00, 102.35, 103.05, 103.40.
USDCHF
Yesterday’s summary
Yesterday’s trading saw USDCHF close 12 pips lower from its open whilst trading a 47 pip range.
Following yesterday’s break of 24th October low at 0.8889 the trend in USDCHF has changed to negative on a swing bases.
Focus on today
This morning’s USDCHF is trading above the previous day’s low and within a 16 pip early morning Tokyo session range. Furthermore currently USDCHF is also trading within the 0.8880 to 0.8840 price congestion zone.
AS USDCHF is trading within 0.8880/0.8840 range, I am monitoring the potential for this trading range to hold with the price action bouncing between 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: 0.8840, 0.8880, 0.9080, 0.9110.
EURUSD
Yesterday’s summary
Yesterday’s trading saw EURUSD end the session 26 pips higher from its open whilst trading a 73 pip range.
The price action continues to have a negative daily swing bias whilst trading within a large expanding triangle.
However I am now seeing a acceleration to the upside following a break above the large horizontal congestion range. This could indicate that EURUSD will attempt to trade up to the 25th October high at 1.3832.
Focus on today
This morning’s EURUSD is trading below the previous day’s high within range and within a 25 pip early morning Tokyo session range. Furthermore currently EURUSD is also trading within the 1.3811 to 1.3763 resistance zone.
AS EURUSD is trading within 1.3811/1.3763 range, I am monitoring the potential for this trading range to hold with the price action bouncing between 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: 1.3520 1.3565, 1.3763, 1.3811
GBPUSD
Yesterday’s summary
Yesterday’s trading saw GBPUSD end the session 71 pips lower from its open whilst trading a 118 pip range.
The price action continues to have a positive daily swing bias and is currently trading above the 1.6400 resistance area following the bounce off the 8 period moving averages.
Focus on today
This morning’s GBPUSD is trading above the previous day’s low and within a 53 pip early morning Tokyo session range. Furthermore currently GBPUSD is also trading between the 1.6130/1.6175 to 1.6419/1.6466 congestion areas.
AS GBPUSD is trading between the 6130/1.6175 to 1.6419/1.6466 price congestion areas, I am monitoring the potential for the price action to break up our break down into these areas.
Alternatively there is a possibility that GBPUSD trades in between the 1.6175 to 1.6419 levels for the rest of the day.
Key intraday levels
GBPUSD: 1.6130, 1.6175, 1.6419, 1.6466.
USDJPY
Yesterday’s summary
Yesterday’s trading saw USDJPY close 40 pips lower from its open whilst trading an 80 pip range.
The price action continues to have a positive daily swing bias with the price action hovering above the 8 period moving averages. 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 is trading beneath the previous day’s high and within a 39 pip early morning Tokyo session range. Furthermore currently USDJPY is also trading between the 102.00/102.35 to 103.05/103.40 price congestion areas.
AS USDJPY is trading between the 102.00/102.35 to 103.05/103.40 price congestion areas, I am monitoring the potential for the price action to break up our break down into these areas.
Alternatively there is a possibility that USDJPY trades in between the 102.35 to 103.05 levels for the rest of the day.
Key intraday levels
USDJPY: 102.00, 102.35, 103.05, 103.40.
USDCHF
Yesterday’s summary
Yesterday’s trading saw USDCHF close 12 pips lower from its open whilst trading a 47 pip range.
Following yesterday’s break of 24th October low at 0.8889 the trend in USDCHF has changed to negative on a swing bases.
Focus on today
This morning’s USDCHF is trading above the previous day’s low and within a 16 pip early morning Tokyo session range. Furthermore currently USDCHF is also trading within the 0.8880 to 0.8840 price congestion zone.
AS USDCHF is trading within 0.8880/0.8840 range, I am monitoring the potential for this trading range to hold with the price action bouncing between 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: 0.8840, 0.8880, 0.9080, 0.9110.