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Daily Technical Analysis from ACFX

A

acfx

Broker Representative
Daily Technical Analysis for EURUSD as at 24th May 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : 1.3015 – 1.3145
Target 1 : 1.2795
Target 2 : 1.2745
Stop : 1.3245


eur_zpse8f62432.gif


Comments
The swing bias remains negative with the averages confirming this direction. The price action continues to range around the upward sloping trend line and between both the short and long moving averages.

Scenario 1
We are monitoring a potential break down in the direction of the 4th April Swing Low.

Scenario 2
Alternatively EURUSD could possibly retrace up the long average and Fibonacci resistance level.

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 24th May 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -


gbp_zps31761aba.gif



Comments
GBPUSD on a swing basis continues to have a negative bias and is trading under both the short and long moving averages.

Scenario 1
We are monitoring a potential move to the pivot low of 12th March. However an uptrend line may initially offer support at around the 1.4900 area.

Scenario 2
Alternatively as the price action is extended from the averages there is potential for a pullback initially to 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 24th May 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -

chf_zps73622fa3.gif




Comments
USDCHF on a swing basis continues to trend positively with the moving averages confirming the trend. Currently the price action is ranging between the 161.80 and 200 percent expansion levels.

Scenario 1
We are monitoring a potential move to further targets being 0.9970 which corresponds to a prior Swing High and then the significant USDCHF 1.0000 level.

Scenario 2
Alternatively as the price action is extended from the averages there is a possibility for the price action to retrace so as to allow for an orderly correction.


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
 
A

acfx

Broker Representative
Daily Technical Analysis for EURUSD as at 27th May 2013
DAILY OVERVIEW



Trend : Short
Ambush Zone : 1.3015 – 1.3145
Target 1 : 1.2795
Target 2 : 1.2745
Stop : 1.3245


eur_zpsf7718c4b.gif



Comments
The swing bias remains negative with the averages confirming this direction. The price action continues to range around the upward sloping trend line and between both the short and long moving averages.

Scenario 1
We are monitoring a potential break down in the direction of the 4th April Swing Low.

Scenario 2
Alternatively EURUSD could possibly retrace up the long average and Fibonacci resistance level.

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 27th May 2013
DAILY OVERVIEW


Trend : Short
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -

gbp_zps655776be.gif


Comments
GBPUSD on a swing basis continues to have a negative bias and is trading under both the short and long moving averages.

Scenario 1
We are monitoring a potential move to the pivot low of 12th March. However an uptrend line may initially offer support at around the 1.4900 area.

Scenario 2
Alternatively as the price action is extended from the averages there is potential for a pullback initially to 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 27th May 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -



chf_zps9c1a7afe.gif


Comments
USDCHF on a swing basis continues to trend positively with the moving averages confirming the trend. Currently the price action has retraced from the Fibonacci expansion area and moved back into the averages. The next potential support level is at the prior swing high to be found at 0.9550.

Scenario 1
We are monitoring a potential move to further targets being 0.9970 which corresponds to a prior Swing High and then the significant USDCHF 1.0000 level.

Scenario 2
Alternatively the price action could possibly continue its correction down to 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 USDJPY as at 27th May 2013
DAILY OVERVIEW


Trend : Long
Ambush Zone : 100.50 – 98.40
Target 1 : 104.00
Target 2 : 110.00
Stop : 97.00

jpy_zpsf5583579.gif


Comments
USDJPY on a swing basis continues to trend positively with the moving averages confirming the market direction. However yesterday price action rejected the 161.80 Fibonacci expansion level and USDJPY has subsequently corrected down to a level slightly above the 34 period moving averages and Fibonacci support. The RSI has not confirmed this move down as a positive divergence is forming. This would possibly imply that support could hold.

We have identified the following levels as possible long targets.
1. A retouch of 104.00 being the 161.80 Fibonacci Expansion target.
2. The 105.00 level being the 200 percent Fibonacci Expansion target.
3. Around 108.00 being long term trend line resistance.
4. 110.00 being a prior Swing High Pivot.
Scenario 1
A move down to Fibonacci support could offer a potential opportunity to buy USDJPY with targets mentioned coming into focus.

Scenario 2
Alternatively if the price action can breach and close beneath the long average there is a possibility for a further move to trend line 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 27th May 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : 1452.60 – 1525.85
Target 1 : 1321.75
Target 2 : 1308.08
Stop : 1590.20

gold_zpsd61c5baf.gif



Comments
Gold on a swing basis is trading negatively with the moving averages confirming the trend. However the price action has retraced to the small average thus creating the possibility of a Higher Low and double bottom scenario.
That said as the trend is negative the focus will continue on the short side.

Scenario 1
We are monitoring the price action at the area of the 8 period moving averages so as to identify possible selling opportunities.

Scenario 2
Alternatively if Gold can close above the 8 period moving averages the potential for a move to Fibonacci resistance comes into play.

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 27th May 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : 94.45 – 93.00
Target 1 : 97.30
Target 2 : 99.00
Stop : 92.00

oil_zps891dc500.gif



Comments
Oil on a swing basis continues to trade positively with the moving averages confirming the direction. However Oil has pullback into Fibonacci support where it touched and rejected a prior broken up trend line. The bigger picture continues to be one where the price action is trading near the top of a large monthly converging triangle.

Scenario 1
We are monitoring the price action at these levels for a possible resumption of the uptrend with possible targets being the 100 % and 138.2% Fibonacci Expansion level in the areas of 99.00 and 103.00 respectively. However the psychological 100.00 level will need to be broken for any further upside to continue.

Scenario 2
Alternatively if Oil cannot find support at these levels there is a possibility of a retest of the prior broken upward 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
 
A

acfx

Broker Representative
Daily Technical Analysis for EURUSD as at 28th May 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : 1.3015 – 1.3145
Target 1 : 1.2795
Target 2 : 1.2745
Stop : 1.3245


eur_zpsddd37cc4.gif


Comments
EURUSD has this morning opened negatively.

The swing bias remains negative with the averages confirming this direction. The price action continues to range around the upward sloping trend line and between both the short and long moving averages. That the price action has retraced into the averages when the trend is down could be viewed as a possible selling opportunity. However the upward sloping trend line may offer resistance to further downside movement.

Scenario 1
We are monitoring a potential break down in the direction of the 4th April Swing Low.

Scenario 2
Alternatively EURUSD could possibly retrace up the long average and Fibonacci resistance level.

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 28th May 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -


gbp_zpsa88f180d.gif



Comments
This morning GBPUSD has opened neutral.

GBPUSD on a swing basis continues to have a negative bias and is trading under both the short and long moving averages.

Scenario 1
We are monitoring a potential move to the pivot low of 12th March. However an uptrend line may initially offer support at around the 1.4900 area.

Scenario 2
Alternatively a close above 8 period moving averages could potentially signal an attempt to trade up to the Fibonacci resistance.

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 28th May 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -

chf_zps588cda38.gif




Comments
This morning USDCHF has opened positively.

USDCHF on a swing basis continues to trend positively with the moving averages confirming the trend. Currently the price action has retraced from the Fibonacci expansion area and moved back into the averages. The next potential support level is at the prior swing high to be found at 0.9550.

Scenario 1
We are monitoring a potential move to further targets being 0.9970 which corresponds to a prior Swing High and then the significant USDCHF 1.0000 level.

Scenario 2
Alternatively the price action could possibly continue its correction down to 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 USDJPY as at 28th May 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : 100.50 – 98.40
Target 1 : 104.00
Target 2 : 110.00
Stop : 97.00


jpy_zps43f665f3.gif



Comments
This morning USDJPY has opened positively.

USDJPY on a swing basis continues to trend positively with the moving averages confirming the market direction. The price action has retraced and trading within the averages which could potentially offer a buying opportunity. The RSI is also diverging positively.

We have identified the following levels as possible long targets.
1. A retouch of 104.00 being the 161.80 Fibonacci Expansion target.
2. The 105.00 level being the 200 percent Fibonacci Expansion target.
3. Around 108.00 being long term trend line resistance.
4. 110.00 being a prior Swing High Pivot.
Scenario 1
A move down to Fibonacci support could offer a potential opportunity to buy USDJPY with targets mentioned coming into focus.

Scenario 2
Alternatively if the price action can breach and close beneath the long average there is a possibility for a further move to trend line 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 28th May 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : 1452.60 – 1525.85
Target 1 : 1321.75
Target 2 : 1308.08
Stop : 1590.20


gold_zpsd6922994.gif



Comments
Gold has this morning opened negative to neutral.

Gold on a swing basis is trading negatively with the moving averages confirming the trend. A failure to breach the 16th April low will effectively put in place a higher low.

Scenario 1
As the price action has retraced between the averages this offers a potential selling opportunity as the trend is down. We are monitoring the price action at these levels so as to identify possible selling opportunities.

Scenario 2
Alternatively as Gold has closed above the 8 period moving averages the potential for a move to Fibonacci resistance comes into play.

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 28th May 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : 94.45 – 93.00
Target 1 : 97.30
Target 2 : 99.00
Stop : 92.00


oil_zpsdee822e1.gif



Comments
Oil has this morning opened flat to positive.

Oil on a swing basis continues to trade positively with the moving averages confirming the direction. However Oil has pullback into Fibonacci support where it touched and rejected a prior broken up trend line. The bigger picture continues to be one where the price action is trading near the top of a large monthly converging triangle.

Scenario 1
We are monitoring the price action at these levels for a possible resumption of the uptrend with possible targets being the 100 % and 138.2% Fibonacci Expansion level in the areas of 99.00 and 103.00 respectively. However the psychological 100.00 level will need to be broken for any further upside to continue.

Scenario 2
Alternatively if Oil cannot find support at these levels there is a possibility of a retest of the prior broken upward 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
 
A

acfx

Broker Representative
Daily Technical Analysis from ACFX 29.05.2013

Daily Technical Analysis for EURUSD as at 29th May 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : 1.3015 – 1.3145
Target 1 : 1.2795
Target 2 : 1.2745
Stop : 1.3245

eur_zps5182abbd.gif



Comments
EURUSD has this morning opened unchanged after yesterdays strong down day where it closed beneath the downward sloping trend line.

The swing bias remains negative with the averages confirming this direction. The price action continues to range around the upward sloping trend line but has rejected a move into the averages is now trading beneath both the short and long moving averages. This possibility was mentioned in yesterdays post. Although a continuation o of the down move is a possibility the upward sloping trend line may still offer some resistance to further downside movement.

Scenario 1
We are monitoring a potential break down in the direction of the 4th April Swing Low.

Scenario 2
Alternatively EURUSD could possibly retrace up the long average and Fibonacci resistance level.

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 29th May 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -


gbp_zps3400d9da.gif



Comments
This morning GBPUSD has opened down to unchanged.

GBPUSD on a swing basis continues to have a negative bias and is trading under both the short and long moving averages.

Scenario 1
The price action has retraced and rebound off the 8 period moving averages. We are monitoring a potential move to the pivot low of 12th March. However an uptrend line may initially offer support at around the 1.4900 area.

Scenario 2
Alternatively a close above 8 period moving averages could potentially signal an attempt to trade up to the Fibonacci resistance.

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 29th May 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -


chf_zps55673880.gif



Comments
This morning USDCHF has opened slightly negative after experiencing a strong up day yesterday.

USDCHF on a swing basis continues to trend positively with the moving averages confirming the trend. Currently the price action has re-entered the Fibonacci expansion area and breached the 161.80 level.

Scenario 1
We are monitoring a potential move to further targets being 0.9970 which corresponds to a prior Swing High and then the significant USDCHF 1.0000 level.

Scenario 2
Alternatively the price action could possibly continue its correction down to 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 USDJPY as at 29th May 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : 100.50 – 98.40
Target 1 : 104.00
Target 2 : 110.00
Stop : 97.00


jpy_zps9f7f2ce6.gif




Comments
This morning USDJPY has opened unchanged after yesterday experiencing a moderately strong up day.

USDJPY on a swing basis continues to trend positively with the moving averages confirming the market direction. The price action had retraced trading within the averages. This as mention yesterday offered a buying opportunity and the price action has since traded higher and is now above both averages. The RSI continues to diverge positively.

We have identified the following levels as possible long targets.
1. A retouch of 104.00 being the 161.80 Fibonacci Expansion target.
2. The 105.00 level being the 200 percent Fibonacci Expansion target.
3. Around 108.00 being long term trend line resistance.
4. 110.00 being a prior Swing High Pivot.
Scenario 1
For USDJPY to continue its upward journey with an initial target being the last swing pivot high.

Scenario 2
Alternatively a move down to Fibonacci support could offer a potential opportunity to buy USDJPY with targets mentioned coming into focus.


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 29th May 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : 1452.60 – 1525.85
Target 1 : 1321.75
Target 2 : 1308.08
Stop : 1590.20


gold_zps10bcfa23.gif



Comments
Gold has this morning opened slightly positive.

Gold on a swing basis is trading negatively with the moving averages confirming the trend with the price action trading with the averages. Although the trend is down a failure to breach the 16th April low will effectively put in place a higher low.

Scenario 1
As the price action has retraced between the averages this offers a potential selling opportunity as the trend is down. We are monitoring the price action at these levels so as to identify possible selling opportunities.

Scenario 2
Alternatively as Gold has closed above the 8 period moving averages the potential for a move to Fibonacci resistance comes into play.

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 29th May 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : 94.45 – 93.00
Target 1 : 97.30
Target 2 : 99.00
Stop : 92.00


oil_zpsc5003f2c.gif



Comments
Oil has this morning opened slightly negatively after yesterday experiencing a strong move up to the downward sloping trend line where selling came in.

Oil on a swing basis continues to trade positively with the moving averages confirming the direction. The price action is now trading just above both averages. The bigger picture continues to be one where the price action is trading near the top of a large monthly converging triangle.

Scenario 1
We are monitoring the price action at these levels for a possible resumption of the uptrend with possible targets being the 100 % and 138.2% Fibonacci Expansion level in the areas of 99.00 and 103.00 respectively. However the psychological 100.00 level will need to be broken for any further upside to continue.

Scenario 2
Alternatively if Oil cannot close above the downward sloping trend line then a retest of the prior broken upward sloping trend line comes into focus.

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
 
A

acfx

Broker Representative
Daily Technical Analysis from ACFX 30.05.2013

Daily Technical Analysis for EURUSD as at 30th May 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : 1.3015 – 1.3145
Target 1 : 1.2795
Target 2 : 1.2745
Stop : 1.3245

eur_zpse17ec030.gif


Comments
EURUSD has this morning opened higher after yesterdays strong up day where it closed above the upward sloping trend line. Today’s opening range is 53 pips which equates to 55% of the daily average true range. The swing bias remains negative and the averages are confirming the market direction. However the price action has retraced and is trading between both short and long averages.
In terms of the bigger picture the price action is in the process of forming a higher low but confirmation is required for a change of trend to be established. A prior swing high breach would confirm a possible change of trend. Overhead resistance however in terms of the downward sloping trend line, the long average and Fibonacci resistance may put a brake on further upward momentum.

Scenario 1
As the dominant daily trend is down the retracement into the averages might offer shorting opportunities at resistance or if a clear negative divergence can be identified. The initial target for any down break would be the 17th May prior swing low.

Scenario 2
Alternatively EURUSD could continue its retracement up to the long average and Fibonacci resistance level.


Daily Technical Analysis for GBPUSD as at 30th May 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -


gbp_zpsdc497f3a.gif


Comments
GBPUSD has this morning opened higher after yesterdays strong up day. Today’s opening range is 72 pips which equates to a 63% of the daily average true range. The swing bias remains negative and the averages are confirming the market direction. However he price action has retraced and is currently trading between both short and long averages.

In terms of the bigger picture the price action is in the process of forming a higher low but confirmation is required for a change of trend to be established. A prior swing high breach would confirm a possible change of trend. Overhead resistance however in terms of the downward sloping trend line, the long average and Fibonacci resistance may put a brake on further upward momentum.
Scenario 1
As the dominant daily trend is down the retracement into the averages might offer shorting opportunities at resistance or if a clear negative divergence can be identified. The initial target for any down break would be the upward sloping trend line that may offer some support followed by the 12th March prior swing low.

Scenario 2
Alternatively GBPUSD could continue its retracement up to the long average and Fibonacci resistance level.


Daily Technical Analysis for USDCHF as at 30th May 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -


chf_zps221ebe50.gif


Comments
USDCHF has this morning opened lower after yesterdays strong down day. Today’s opening range is 75 pips which equates to 62% of the daily average true range. The swing bias remains positive and the averages are confirming the market direction. However he price action has retraced and is currently trading between both short and long averages.

In terms of the bigger picture the price action has rejected the Fibonacci expansion areas in its attempt to reach the 0.9970 and parity levels and in the process has retraced to be just above Fibonacci support.

Scenario 1
As the dominant daily trend is up the retracement into the averages and possible further move into Fibonacci support might offer buying opportunities at support or if a clear positive divergence can be identified. The initial target for any down break would be the 22nd May prior swing high.

Scenario 2
Alternatively the price action could possibly continue its correction down to Fibonacci support and then the upward sloping trend line.


Daily Technical Analysis for USDJPY as at 30th May 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : 100.50 – 98.40
Target 1 : 104.00
Target 2 : 110.00
Stop : 97.00


jpy_zps65b45d90.gif


Comments
USDJPY has this morning opened lower after yesterdays strong down day. Today’s opening range is 106 pips which equates to 83% of the daily average true range. The swing bias remains positive and the averages are confirming the market direction. However he price action has retraced and is currently trading between both short and long averages.

In terms of the bigger picture the price action has retraced and is trading just above Fibonacci support. Furthermore a large RSI is positive divergence is forming.

Scenario 1
As the dominant daily trend is up the retracement into the averages and possibly further into Fibonacci support may offer buying opportunities at support and this would be in line with the RSI positive divergence.

We have identified the following levels as possible long targets.
1. A retouch of 104.00 being the 161.80 Fibonacci Expansion target.
2. The 105.00 level being the 200 percent Fibonacci Expansion target.
3. Around 108.00 being long term trend line resistance.
4. 110.00 being a prior Swing High Pivot.
Scenario 2
Alternatively USDJPY could continue its retracement down to the long average and Fibonacci support level and then potentially further to trend line support.

Daily Technical Analysis for Gold as at 30th May 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : 1452.60 – 1525.85
Target 1 : 1321.75
Target 2 : 1308.08
Stop : 1590.20

gold_zps2d2419ed.gif




Comments
Gold has this morning opened higher after yesterdays up down day. Today’s opening range is 209 pips which equates to 68% of the daily average true range. The swing bias remains negative and the averages are confirming the market direction. However he price action has retraced and is currently trading between both short and long averages.

In terms of the bigger picture the price action is in the process of forming a higher low but confirmation is required for a change of trend to be established. A prior swing high breach would confirm a possible change of trend. Overhead resistance however in terms of the long average and Fibonacci resistance may put a brake on further upward momentum. Furthermore TRSI is diverging negatively.

Scenario 1
As the dominant daily trend is down the retracement into the averages might possibly offer shorting opportunities at resistance or as in this case a negative divergence can be identified. The initial target for any down break would be the 20th May prior low.

Scenario 2
Alternatively as Gold has closed above the 8 period moving averages the potential for a move to Fibonacci resistance comes into play.



Daily Technical Analysis for Oil (WTI) as at 30th May 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : 94.45 – 93.00
Target 1 : 97.30
Target 2 : 99.00
Stop : 92.00

oil_zpsd65efffd.gif



Comments
Oil has this morning opened unchanged after yesterdays strong down day. Today’s opening range is 57 pips which equates to 32% of the daily average true range. The swing bias remains positive and the averages are confirming the market direction. However he price action has retraced and is currently trading between both short and long averages.

The bigger picture continues to be one where the price action is trading near the top of a large monthly converging triangle. Furthermore we also we have had a breach and close beneath a prior broken upward sloping trend line and a move through a small Fibonacci support area

Scenario 1
As the dominant daily trend is up we are monitoring the price action at these levels for a possible resumption of the uptrend with possible targets being the 100 % and 138.2% Fibonacci Expansion level in the areas of 99.00 and 103.00 respectively. However the psychological 100.00 level will need to be broken for any further upside to continue.

Scenario 2
Alternatively as Oil has breached the prior broken upward sloping trend line a continued move down the 15th May swing low is a possibility.
 
A

acfx

Broker Representative
Daily Technical Analysis for EURUSD as at 31st May 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : 1.3015 – 1.3145
Target 1 : 1.2795
Target 2 : 1.2745
Stop : 1.3245

eur_zps3b106fed.gif



Comments
EURUSD is this morning trading lower from the open after yesterdays strong up day. Today’s opening range is 28 pips which equates to 28% of the daily average true range.
In terms of the bigger picture the swing bias remains negative and the averages are confirming the market direction. However the price action is trading and closed above both averages which could be viewed as the market being overbought when the market is in a down trend or the market bias attempting to change its position from negative to positive.
If one was to move to the higher time frame Weekly chart it is easier to see that the price action is in the process of forming a higher low but confirmation is required for a change of trend to be established. Back to a daily time frame a prior swing high breach would confirm a possible change of trend. Overhead resistance in terms of the downward sloping trend line and Fibonacci resistance may put a brake on further upward momentum. However one hurdle in terms closing above the long average has been overcome.
Scenario 1
As the dominant daily trend is down the retracement into Fibonacci resistance combined with overhead trend line resistance might offer shorting opportunities. However we have yet to notice any loss of momentum that could be identified by an oscillator divergence or candle stick pattern. The initial target for any down break would be the 17th May prior swing low.

Scenario 2
Alternatively EURUSD could continue its retracement so as to eventually breach the downward sloping trend line.



Daily Technical Analysis for GBPUSD as at 31th May 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : 1.5260 – 1.5470
Target 1 : 1.5000
Target 2 : 1.4865
Stop : 1.5600

gbp_zpsc03da982.gif



Comments
GBPUSD is this morning trading lower from the open after yesterdays strong up day. Today’s opening range is 24 pips which equates to a 21% of the daily average true range.

In terms of the bigger picture he swing bias remains negative and the averages are confirming the market direction. However he price action has retraced and is currently trading between both short and long averages.

If one was to move to the higher time frame Weekly chart it is easier to see that the price action is in the process of forming a higher low but confirmation is required for a change of trend to be established. Back to a daily time frame a prior swing high breach would confirm a possible change of trend. Overhead resistance however in terms Fibonacci resistance might limit further upward momentum.
Scenario 1
As the dominant daily trend is down the retracement into the averages might offer shorting opportunities. However we have yet to notice any loss of momentum that could be identified by an oscillator divergence or candle stick pattern.The initial target for any down break would be the upward sloping trend line that may offer some support followed by the 12th March prior swing low.

Scenario 2
Alternatively GBPUSD could continue its retracement up to the long average and Fibonacci resistance level.


Daily Technical Analysis for USDCHF as at 31st May 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : 0.9550 – 0.9370
Target 1 : 0.9840
Target 2 : 0.9970
Stop : 0.9245


chf_zpscb0d1155.gif



Comments
USDCHF is this morning trading lower from the open lower after yesterdays strong down day. Today’s opening range is 33 pips which equates to 27% of the daily average true range.

In terms of the bigger picture the swing bias remains positive and the averages are confirming the market direction. However he price action has retraced and is currently trading between both short and long averages and is trading just inside Fibonacci support.

Scenario 1
As the dominant daily trend is up the retracement into the averages and possible further move into Fibonacci support might offer buying opportunities. However we have yet to notice any loss of momentum that could be identified by an oscillator divergence or candle stick pattern. The initial target for any down break would be the 22nd May prior swing high.

Scenario 2
Alternatively the price action could possibly continue its correction down into Fibonacci support and then the upward sloping trend line.


Daily Technical Analysis for USDJPY as at 31st May 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : 100.50 – 98.40
Target 1 : 104.00
Target 2 : 110.00
Stop : 97.00

jpy_zps1b89c6c0.gif



Comments
USDJPY is this morning trading unchanged from the open after yesterdays down day. Today’s opening range is 57 pips which equates to 44% of the daily average true range.

In terms of the bigger picture the swing bias remains positive and the averages are confirming the market direction. However he price action has retraced and is currently trading between both short and long averages and just above Fibonacci support. Furthermore a large RSI is positive divergence is forming.

Scenario 1
As the dominant daily trend is up the retracement into the averages and possibly further into Fibonacci support may offer buying opportunities at support and this would be in line with the RSI positive divergence.

We have identified the following levels as possible long targets.
1. A retouch of 104.00 being the 161.80 Fibonacci Expansion target.
2. The 105.00 level being the 200 percent Fibonacci Expansion target.
3. Around 108.00 being long term trend line resistance.
4. 110.00 being a prior Swing High Pivot.
Scenario 2
Alternatively USDJPY could continue its retracement down to the long average and Fibonacci support level and then potentially further to trend line support.



Daily Technical Analysis for Gold as at 31st May 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : 1452.60 – 1525.85
Target 1 : 1321.75
Target 2 : 1308.08
Stop : 1590.20



Comments
Gold is this morning trading higher from the open after yesterdays up day. Today’s opening range is 900 pips which equates to 28% of the daily average true range

In terms of the bigger picture the swing bias remains negative and the averages are confirming the market direction. However the price action has retraced and is currently trading between both short and long averages. It would appear that Gold is in the process of forming a higher low but confirmation is required for a change of trend to be established. A prior swing high breach would confirm a possible change of trend. Overhead resistance however in terms of the long average and Fibonacci resistance may put a brake on further upward momentum. Furthermore the RSI is diverging negatively.

Scenario 1
As the dominant daily trend is down the retracement into the averages might possibly offer shorting opportunities at resistance. The initial target for any down break would be the 20th May prior low.

Scenario 2
Alternatively as Gold has closed above the 8 period moving averages the potential for a move to Fibonacci resistance comes into play.



Daily Technical Analysis for Oil (WTI) as at 31st May 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -


oil_zpsd598ae44.gif


Comments
Oil is this morning trading higher from the open after yesterdays strong up day. Today’s opening range is 47 pips which equates to 26% of the daily average true range.

In terms of the bigger price action continues to trade near the top of a large monthly converging triangle. However following the breach of the prior pivot low the swing bias has changed from positive to negative. This has coincided with breach of a prior broken upward sloping trend line.

From a bullish perspective the moving averages however have yet to cross and confirm this new trend. Furthermore the price action has retraced and is trading just above Fibonacci support and yesterday’s price action put in place a bullish hammer candle stick.

Scenario 1
As the dominant daily trend has changed to negative we are monitoring the possibility of continued move down to Fibonacci support.

Scenario 2
Alternatively following yesterday’s candle stick hammer formation and approach of Fibonacci resistance we are monitoring the possibility of a bounce and even a resumption of the prior up trend with potential targets the 100 % and 138.2% Fibonacci Expansion level in the areas of 99.00 and 103.00 respectively. However the psychological 100.00 level will need to be broken for any further upside to continue.
 
A

acfx

Broker Representative
Daily Technical Analysis for EURUSD as at 3rd June 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : 1.3015 – 1.3145
Target 1 : 1.2795
Target 2 : 1.2745
Stop : 1.3245


eurusd_zps4a7b136e.gif



Comments
EURUSD is this morning trading higher from the open after Fridays down day. Today’s opening range is 35 pips which equates to 35% of the daily average true range.
In terms of the bigger picture the swing bias remains negative and the averages are confirming the market direction. However the price action is trading and closed above both averages which could be viewed as the market being overbought when the market is in a down trend or the market bias attempting to change its position from negative to positive.
If one was to move to the higher time frame Weekly chart it is easier to see that the price action is in the process of forming a higher low but confirmation is required for a change of trend to be established. Back to a daily time frame a prior swing high breach would confirm a possible change of trend. Overhead resistance in terms of the downward sloping trend line and Fibonacci resistance may put a brake on further upward momentum. However one hurdle in terms closing above the long average has been overcome.
Scenario 1
As the dominant daily trend is down the retracement into Fibonacci resistance combined with overhead trend line resistance might offer shorting opportunities. However we have yet to notice any loss of momentum that could be identified by an oscillator divergence or candle stick pattern. The initial target for any down break would be the 17th May prior swing low.

Scenario 2
Alternatively EURUSD could continue its retracement so as to eventually breach the downward sloping trend line.


Daily Technical Analysis for GBPUSD as at 3rd June 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : 1.5260 – 1.5470
Target 1 : 1.5000
Target 2 : 1.4865
Stop : 1.5600

gbpusd_zps2f18f086.gif



Comments
GBPUSD is this morning trading higher from the open after yesterdays weak down day. Today’s opening range is 39 pips which equates to a 35% of the daily average true range.

In terms of the bigger picture he swing bias remains negative and the averages are confirming the market direction. However he price action has retraced and is currently trading between both short and long averages.

If one was to move to the higher time frame Weekly chart it is easier to see that the price action is in the process of forming a higher low but confirmation is required for a change of trend to be established. Back to a daily time frame a prior swing high breach would confirm a possible change of trend. Overhead resistance however in terms Fibonacci resistance might limit further upward momentum.
Scenario 1
As the dominant daily trend is down the retracement into the averages might offer shorting opportunities. However we have yet to notice any loss of momentum that could be identified by an oscillator divergence or candle stick pattern. The initial target for any down break would be the upward sloping trend line that may offer some support followed by the 12th March prior swing low.

Scenario 2
Alternatively GBPUSD could continue its retracement up to the long average and Fibonacci resistance level.


Daily Technical Analysis for USDJPY as at 3rd June 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : 100.50 – 98.40
Target 1 : 104.00
Target 2 : 110.00
Stop : 97.00

usdjpy_zps7040ceb1.gif



Comments
USDJPY is this morning trading unchanged from the open after Fridays down day. Today’s opening range is 49 pips which equates to 38% of the daily average true range.

In terms of the bigger picture the swing bias remains positive and the averages are confirming the market direction. However he price action has retraced and is currently trading at the long averages and just above Fibonacci support. Furthermore a large RSI is positive divergence is forming.

Scenario 1
As the dominant daily trend is up the retracement into the averages and possibly further into Fibonacci support may offer buying opportunities at support and this would be in line with the RSI positive divergence.

We have identified the following levels as possible long targets.
1. A retouch of 104.00 being the 161.80 Fibonacci Expansion target.
2. The 105.00 level being the 200 percent Fibonacci Expansion target.
3. Around 108.00 being long term trend line resistance.
4. 110.00 being a prior Swing High Pivot.
Scenario 2
Alternatively USDJPY could continue its retracement down to the long average and Fibonacci support level and then potentially further to trend line support.


Daily Technical Analysis for USDCHF as at 3rd June 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : 0.9550 – 0.9370
Target 1 : 0.9840
Target 2 : 0.9970
Stop : 0.9245

usdchf_zpscb780c45.gif



Comments
USDCHF is this morning trading lower from the open lower after Fridays up day. Today’s opening range is 42 pips which equates to 35% of the daily average true range.

In terms of the bigger picture the swing bias remains positive and the averages are confirming the market direction. However he price action has retraced and is currently trading between both short and long averages and is trading just inside Fibonacci support.

Scenario 1
As the dominant daily trend is up the retracement into the averages and possible further move into Fibonacci support might offer buying opportunities. However we have yet to notice any loss of momentum that could be identified by an oscillator divergence or candle stick pattern. The initial target for any down break would be the 22nd May prior swing high.

Scenario 2
Alternatively the price action could possibly continue its correction down into Fibonacci support and then the upward sloping trend line.



Daily Technical Analysis for Gold as at 3rd June 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : 1452.60 – 1525.85
Target 1 : 1321.75
Target 2 : 1308.08
Stop : 1590.20



gold_zpsc65ceb2b.gif


Comments
Gold is this morning trading higher from the open after Fridays down day. Today’s opening range is 946 pips which equates to 29% of the daily average true range

In terms of the bigger picture the swing bias remains negative and the averages are confirming the market direction. However the price action has retraced and is currently trading between both short and long averages. It would appear that Gold is in the process of forming a higher low but confirmation is required for a change of trend to be established. A prior swing high breach would confirm a possible change of trend. Overhead resistance however in terms of the long average and Fibonacci resistance may put a brake on further upward momentum.

Scenario 1
As the dominant daily trend is down the retracement into the averages might possibly offer shorting opportunities at resistance. The initial target for any down break would be the 20th May prior low.

Scenario 2
Alternatively as Gold has closed above the 8 period moving averages the potential for a move to Fibonacci resistance comes into play.


Daily Technical Analysis for Oil (WTI) as at 3rd June 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -

oil_zps018f6790.gif



Comments
Oil is this morning trading higher from the open after yesterdays strong down day. Today’s opening range is 70 pips which equates to 38% of the daily average true range.

In terms of the bigger price action continues to trade near the top of a large monthly converging triangle. However following the breach of the prior pivot low the swing bias has changed from positive to negative. This has coincided with breach of a prior broken upward sloping trend line.

From a bullish perspective the moving averages however have yet to cross and confirm this new trend. Furthermore the price action has retraced and is trading just above Fibonacci support.

Scenario 1
As the dominant daily trend has changed to negative we are monitoring the possibility of continued move down into Fibonacci support.

Scenario 2
Alternatively as the price action is trading around Fibonacci we are monitoring the possibility of a bounce and even a resumption of the prior up trend with potential targets the 100 % and 138.2% Fibonacci Expansion level in the areas of 99.00 and 103.00
respectively. However the psychological 100.00 level will need to be broken for any further upside to continue.
 
A

acfx

Broker Representative
Daily Technical Analysis from ACFX 04.06.2013

Daily Technical Analysis for EURUSD as at 4th June 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : 1.3015 – 1.3145
Target 1 : 1.2795
Target 2 : 1.2745
Stop : 1.3245

eur_zpsdc7f49ee.gif



Comments
EURUSD is this morning trading lower from the open after yesterdays up day with that candle printing a piercing line. Today’s opening range is 24 pips which equates to 24% of the daily average true range.
In terms of the bigger picture the swing bias remains negative and the averages are confirming the market direction. Furthermore we have the RSI is diverging positively negatively.
However the price action is trading and closed above both averages which could be viewed as the market being overbought when the market is in a down trend or the market bias attempting to change its position from negative to positive.
If one was to move to the higher time frame Weekly chart it is easier to see that the price action is in the process of forming a higher low but confirmation is required for a change of trend to be established. Back to a daily time frame a prior swing high breach would confirm a possible change of trend.
That the price action is trading at overhead resistance in terms of the downward sloping trend line and Fibonacci resistance may put a brake on further upward momentum. However one hurdle in terms closing above the long average has been overcome.
Scenario 1
As the dominant daily trend is down the retracement into Fibonacci resistance combined with overhead trend line resistance might offer shorting opportunities. However we have yet to notice any loss of momentum that could be identified by an oscillator divergence or candle stick pattern. The initial target for any down break would be the 17th May prior swing low.

Scenario 2
Alternatively EURUSD could continue its retracement so as to eventually breach the downward sloping trend line.


Daily Technical Analysis for GBPUSD as at 4th June 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : 1.5260 – 1.5470
Target 1 : 1.5000
Target 2 : 1.4865
Stop : 1.5600


gbp_zps9a95b9e4.gif



Comments
GBPUSD is this morning unchanged from the open after yesterdays strong up day with that candle printing a piercing line. Today’s opening range is 32 pips which equates to a 27% of the daily average true range.

In terms of the bigger picture he swing bias remains negative and the averages are confirming the market direction. However he price action has retraced and is currently trading above both short and long averages.

If one was to move to the higher time frame Weekly chart it is easier to see that the price action is in the process of forming a higher low but confirmation is required for a change of trend to be established.
Back to a daily time frame a prior swing high breach would confirm a possible change of trend. Overhead resistance however in terms the downward sloping trend line and Fibonacci resistance might limit further upward momentum.
Scenario 1
As the dominant daily trend is down the retracement into overhead resistance being the averages might, Fibonacci resistance and the downward sloping trend line might offer shorting opportunities. However we have yet to notice any loss of momentum that could be identified by an oscillator divergence or candle stick pattern. The initial target for any down break would be the upward sloping trend line that may offer some support followed by the 12th March prior swing low.

Scenario 2
Alternatively GBPUSD could continue its upward momentum towards the downward sloping trend line.


Daily Technical Analysis for USDJPY as at 4th June 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : 100.50 – 98.40
Target 1 : 104.00
Target 2 : 110.00
Stop : 97.00


jpy_zpsa6ab8036.gif


Comments
USDJPY is this morning trading higher from the open after yesterdays down day. Today’s opening range is 99 pips which equates to 72% of the daily average true range.

In terms of the bigger picture the swing bias remains positive and the averages are confirming the market direction. However he price action has retraced and is currently trading under both the long averages and within Fibonacci support. Furthermore a large RSI is positive divergence is forming and trend line support is now very close.

Scenario 1
As the dominant daily trend is up this deep retracement into the averages and Fibonacci support may offer buying opportunities. This would also be in line with the RSI positive divergence.

We have identified the following levels as possible long targets.
1. A retouch of 104.00 being the 161.80 Fibonacci Expansion target.
2. The 105.00 level being the 200 percent Fibonacci Expansion target.
3. Around 108.00 being long term trend line resistance.
4. 110.00 being a prior Swing High Pivot.
Scenario 2
Alternatively USDJPY could continue its retracement potentially to trend line support and then the prior pivot swing low.

- - - Updated - - -

Daily Technical Analysis for USDCHF as at 4th June 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : 0.9550 – 0.9370
Target 1 : 0.9840
Target 2 : 0.9970
Stop : 0.9245


chf_zpscbb88341.gif



Comments
USDCHF is this morning trading higher from the open lower after yesterdays up day. Today’s opening range is 30 pips which equates to 24% of the daily average true range.

In terms of the bigger picture the swing bias remains positive and the averages are confirming the market direction. Furthermore there have been some significant trend line breaks to the upside which although have since retraced still puts a positive feel to USDCHF. This has been reinforced by the RSI is diverging positively.

From the negative aspect the price action has retraced and is currently trading under both short and long averages and to the bottom end of the Fibonacci support range.

Scenario 1
As the dominant daily trend is up the deep retracement into the averages and possible further move into Fibonacci support could be interpreted as oversold and might offer buying opportunities. Now that a loss of momentum has been identified in that the weekly RSI is diverging positively does give the long side some extra weight. The initial target for any down break would be the 22nd May prior swing high.

Scenario 2
Alternatively the price action could possibly continue its correction down into Fibonacci support and then the upward sloping trend line.


Daily Technical Analysis for Gold as at 4th June 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : 1452.60 – 1525.85
Target 1 : 1321.75
Target 2 : 1308.08
Stop : 1590.20

gold_zps865d735d.gif



Comments
Gold is this morning trading lower from the open after yesterdays up day with that candle printing a piercing line. Today’s opening range is 870 pips which equates to 27% of the daily average true range

In terms of the bigger picture the swing bias remains negative and the averages are confirming the market direction. The RSI is diverging negatively and as the price action has retraced and is currently trading between both short and long averages. This could imply that resumption in downward momentum may possibly be imminent.

From a bullish perspective it would appear that Gold is in the process of forming a higher low but confirmation is required for a change of trend to be established. A prior swing high breach would confirm a possible change of trend. Overhead resistance however in terms of the long average and Fibonacci resistance may put a brake on further upward momentum.

Scenario 1
As the dominant daily trend is down the retracement into the averages might possibly offer shorting opportunities at resistance. The initial target for any down break would be the 20th May prior low.

Scenario 2
Alternatively as Gold has closed above the 8 period moving averages the potential for a move to Fibonacci resistance comes into play.


Daily Technical Analysis for Oil (WTI) as at 4th June 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -


oil_zps2aa1e0f3.gif



Comments
Oil is this morning trading lower from the open after yesterdays strong up day with that candle printing a piercing line. Today’s opening range is 46 pips which equates to 25% of the daily average true range.

In terms of the bigger price action continues to trade near the top of a large monthly converging triangle. However following the breach of the prior pivot low the swing bias has changed from positive to negative. This has coincided with breach of a prior broken upward sloping trend line. The averages have just crossed and our now confirming the market direction.

From a bullish perspective the price action has retraced and is trading just above Fibonacci support.

Scenario 1
As the dominant daily trend has changed to negative we are monitoring the possibility of continued move down with corrective pullbacks offering possible selling opportunities.

Scenario 2
Alternatively as the price action is trading around Fibonacci support we are monitoring the possibility of a bounce and even a resumption of the prior up trend with potential targets the 100 % and 138.2% Fibonacci Expansion level in the areas of 99.00 and 103.00 respectively.
 
A

acfx

Broker Representative
Daily Technical Analysis from ACFX 05.06.2013

Daily Technical Analysis for EURUSD as at 5th June 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : 1.3015 – 1.3145
Target 1 : 1.2795
Target 2 : 1.2745
Stop : 1.3245


eur_zpscd78a368.gif



Comments
EURUSD is this morning trading higher from the open after yesterdays up day which closed above the downward sloping trend line. Today’s opening range is 31 pips which equates to 31% of the daily average true range.

In terms of the bigger picture the swing bias remains negative.

The following factors are confirming or reinforcing this market bias:
1. The averages are confirming the market direction.
2. The price action is trading above both negatively layered averages which can be viewed as over bought.
3. RSI continues to diverge negatively.
4. The price action has retraced deep into Fibonacci resistance.
5. The price action has managed to break above the downward sloping trend line which could be viewed as over bought.
Alternative counter trend bullish factors:
1. The price action has broken and closed above both averages.
2. The moving averages are attempting to cross positively.
3. The price action has broken above the downward sloping trend line which could be viewed as a warning of pending trend reversal to the upside.
4. If one was to move to the higher time frame Weekly chart it is easier to see that the price action is in the process of forming a higher low but confirmation is required for a change of trend to be established.
Scenario 1
As the dominant daily trend is down the retracement into Fibonacci resistance combined with trend line resistance might offer shorting opportunities. The initial target for any down break would be the 17th May prior swing low.

Scenario 2
Alternatively as EURUSD has now breached and closed above trend line resistance the long side may come into focus. However from a technical stand point a prior swing high breach would be required to confirm a change of trend.



Daily Technical Analysis for GBPUSD as at 5th June 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : 1.5260 – 1.5470
Target 1 : 1.5000
Target 2 : 1.4865
Stop : 1.5600

gbp_zps81e69668.gif



Comments
GBPUSD is this morning trading higher from the open after yesterdays down day. Today’s opening range is 43 pips which equates to a 38% of the daily average true range.

In terms of the bigger picture he swing bias remains negative.

The following factors are confirming or reinforcing this market bias:
1. The averages are confirming the market direction.
2. The price action is trading above both negatively layered averages which can be viewed as over bought.
3. The price action has retraced into Fibonacci resistance.
4. Overhead resistance however in terms the downward sloping trend line might limit further upward momentum.
Alternative counter trend bullish factors:
1. The price action has broken above and closed above both averages.
2. If one was to move to the higher time frame Weekly chart it is easier to see that the price action is in the process of forming a higher low but confirmation is required for a change of trend to be established.
3. No sign yet of a negative divergence in the weekly RSI.
Scenario 1
As the dominant daily trend is down the retracement into overhead resistance being the averages might, Fibonacci resistance and the downward sloping trend line might offer shorting opportunities. However we have yet to notice any loss of momentum that could be identified by an oscillator divergence or candle stick pattern. The initial target for any down break would be the upward sloping trend line that may offer some support followed by the 12th March prior swing low.

Scenario 2
Alternatively GBPUSD could continue its upward momentum towards the downward sloping trend line. However from a technical stand point a prior swing high breach would be required to confirm a change of trend.


Daily Technical Analysis for USDJPY as at 5th June 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : 100.50 – 98.40
Target 1 : 104.00
Target 2 : 110.00
Stop : 97.00


jpy_zps6e0a1e31.gif


Comments
USDJPY is this morning trading lower from the open after yesterdays up day. Today’s opening range is 108 pips which equates to 77% of the daily average true range.

In terms of the bigger picture the swing bias remains positive.

The following factors are confirming or reinforcing this market bias:
1. The averages are confirming the market direction.
2. The price action is trading below both positively layered averages which can be viewed as over sold.
3. RSI continues to diverge positively.
4. The price action has retraced deep into Fibonacci support.
5. The price action is trading just upward sloping trend line support.
Alternative counter trend bearish factors:
1. The price action has broken beneath and closed above both averages.
2. The moving averages are attempting to cross negatively.
Scenario 1
As the dominant daily trend is up this deep retracement into the averages and Fibonacci support may offer buying opportunities. This would also be in line with the RSI positive divergence.

We have identified the following levels as possible long targets.
1. A retouch of 104.00 being the 161.80 Fibonacci Expansion target.
2. The 105.00 level being the 200 percent Fibonacci Expansion target.
3. Around 108.00 being long term trend line resistance.
4. 110.00 being a prior Swing High Pivot.
Scenario 2
Alternatively USDJPY could continue its retracement potentially to trend line support and then the prior pivot swing low. . However from a technical stand point a prior swing low breach would be required to confirm a change of trend.


Daily Technical Analysis for USDCHF as at 5th June 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : 0.9550 – 0.9370
Target 1 : 0.9840
Target 2 : 0.9970
Stop : 0.9245


chf_zpsfa6caaf6.gif



Comments
USDCHF is this morning trading higher from the open lower after yesterdays marginal down day. Today’s opening range is 38 pips which equates to 31% of the daily average true range.

In terms of the bigger picture the swing bias remains positive.

The following factors are confirming or reinforcing this market bias:
1. The averages are confirming the market direction.
2. The price action is trading beneath both positively layered averages which can be viewed as over sold.
3. RSI continues to diverge positively.
4. The price action has retraced deep into Fibonacci support.
5. The price action has managed to break below the downward sloping trend line which could be viewed as over sold.
Alternative counter trend bullish factors:
1. The price action has broken and closed below both averages.
2. The moving averages are attempting to cross negatively.
3. The price action has broken beneath the downward sloping trend line which could be viewed as a warning of pending trend reversal to the downside.
Scenario 1
As the dominant daily trend is up the deep retracement into the averages and possible further move into Fibonacci support could be interpreted as oversold and might offer buying opportunities. Now that a loss of momentum has been identified in that the weekly RSI is diverging positively does give the long side some extra weight. The initial target for any down break would be the 22nd May prior swing high.

Scenario 2
Alternatively the price action could possibly continue its correction down into Fibonacci support and then the downward sloping trend line. . However from a technical stand point a prior swing low breach would be required to confirm a change of trend.
 
A

acfx

Broker Representative
Daily Technical Analysis for Gold as at 5th June 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : 1452.60 – 1525.85
Target 1 : 1321.75
Target 2 : 1308.08
Stop : 1590.20

gold_zpsa894d296.gif



Comments
Gold is this morning trading higher from the open after yesterdays down day. Today’s opening range is 108 pips which equates to 34% of the daily average true range

In terms of the bigger picture the swing bias remains negative.

The following factors are confirming or reinforcing this market bias:
1. The averages are confirming the market direction.
2. The price action is trading between both negatively layered averages which can be viewed as a possible shorting area.
3. RSI continues to diverge negatively.
4. The price action is approaching Fibonacci resistance.
Alternative counter trend bullish factors:
1. The moving averages are both rising and converging and converging which could be a sign of a potential positive cross over.
2. If one was to move to the higher time frame Weekly chart it is easier to see that the price action is in the process of forming a higher low.
3. There is still some distance between the current price and Fibonacci resistance which gives the price action some space to pull back further.
Scenario 1
As the dominant daily trend is down the retracement into the averages might possibly offer shorting opportunities at resistance. The initial target for any down break would be the 20th May prior low.


Daily Technical Analysis for Oil (WTI) as at 5th June 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -


oil_zpscc82070c.gif



Comments
Oil is this morning trading lower from the open after yesterdays strong up day that closed above a prior broken upward sloping trend line. Today’s opening range is 47 pips which equates to 25% of the daily average true range.

The price action continues to trade near the top of a large monthly converging triangle. However following the breach of the prior pivot low the swing bias has changed from positive to negative.

In terms of the bigger picture the swing bias remains negative.

The following factors are confirming or reinforcing this market bias:
1. The averages are confirming the market direction.
2. The price action is trading within negatively layered averages which can be viewed as possible shorting area.
Alternative counter trend bullish factors:
1. The price action has broken and closed above both averages which could be viewed as over bought.
2. The price action has broken above the upward sloping trend line which could be viewed as a warning of pending trend reversion to the upside.
3. From a bullish perspective the price action has retraced and is trading just above Fibonacci support.
4. No sign yet of a negative divergence in the weekly RSI.
 
A

acfx

Broker Representative
Daily Technical Analysis for EURUSD as at 6th June 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : 1.3015 – 1.3145
Target 1 : 1.2795
Target 2 : 1.2745
Stop : 1.3245

eur_zpsdc271d26.gif


Comments
EURUSD is this morning trading higher from the open after yesterdays up day which saw the averages cross positively. Today’s opening range is 35 pips which equates to 35% of the daily average true range.

In terms of the bigger picture the swing bias remains negative.

The following factors are confirming or reinforcing this market bias:
1. The price action is trading above both positively layered averages which could be viewed as over bought.
2. RSI continues to diverge negatively.
3. The price action has retraced deep into Fibonacci resistance.
4. The price action has managed to break above the downward sloping trend line which could be viewed as over bought.
Alternative counter trend bullish factors:
1. The price action has broken and closed above both averages.
2. The moving averages have crossed positively.
3. The price action has broken above the downward sloping trend line which could be viewed as a warning of pending trend reversal to the upside.
4. If one was to move to the higher time frame Weekly chart it is easier to see that the price action is in the process of forming a higher low but confirmation is required for a change of trend to be established.
Scenario 1
As the dominant daily trend is down the retracement into Fibonacci resistance combined with trend line resistance might offer shorting opportunities. The initial target for any down break would be the 17th May prior swing low.

Scenario 2
Alternatively as EURUSD has now breached and closed above trend line resistance and with the averages also crossing positively the long side may come into focus. However from a technical stand point a prior swing high breach would be required to confirm a change of trend.


Daily Technical Analysis for GBPUSD as at 6th June 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : 1.5260 – 1.5470
Target 1 : 1.5000
Target 2 : 1.4865
Stop : 1.5600

gbp_zpsf8cbe3d6.gif



Comments
GBPUSD is this morning trading marginally higher from the open after yesterdays strong up day. Today’s opening range is 34 pips which equates to a 30% of the daily average true range.

In terms of the bigger picture he swing bias remains negative.

The following factors are confirming or reinforcing this market bias:
1. The averages are confirming the market direction.
2. The price action is trading above both negatively layered averages which can be viewed as over bought.
3. The price action has retraced into Fibonacci resistance.
4. Overhead resistance however in terms the downward sloping trend line has been reached and might limit further upward momentum.
Alternative counter trend bullish factors:
1. The price action has broken and closed above both averages.
2. If one was to move to the higher time frame Weekly chart it is easier to see that the price action is in the process of forming a higher low but confirmation is required for a change of trend to be established.
3. No sign yet of a negative divergence in the weekly RSI.
Scenario 1
As the dominant daily trend is down the retracement into overhead resistance being the averages might, Fibonacci resistance and the downward sloping trend line might offer shorting opportunities. However we have yet to notice any loss of momentum that could be identified by an oscillator divergence or candle stick pattern. The initial target for any down break would be the upward sloping trend line that may offer some support followed by the 12th March prior swing low.

Scenario 2
Alternatively GBPUSD could continue its upward momentum and breach the downward sloping trend line. However from a technical stand point a prior swing high breach would be required to confirm a change of trend.


Daily Technical Analysis for USDJPY as at 6th June 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : 100.50 – 98.40
Target 1 : 104.00
Target 2 : 110.00
Stop : 97.00

jpy_zpsf371772a.gif



Comments
USDJPY is this morning trading higher from the open after yesterdays down day. Today’s opening range is 61 pips which equates to 44% of the daily average true range.

In terms of the bigger picture the swing bias remains positive.

The following factors are confirming or reinforcing this market bias:
1. The price action is trading below both averages which can be viewed as over sold.
2. RSI continues to diverge positively.
3. The price action has retraced deep into Fibonacci support.
4. The price action is trading just upward sloping trend line support.
Alternative counter trend bearish factors:
1. The price action has broken beneath and closed above both averages.
2. The moving averages are attempting to cross negatively.
Scenario 1
As the dominant daily trend is up this deep retracement into the averages and Fibonacci support may offer buying opportunities. This would also be in line with the RSI positive divergence.
1. We have identified the following levels as possible long targets.
2. A retouch of 104.00 being the 161.80 Fibonacci Expansion target.
3. The 105.00 level being the 200 percent Fibonacci Expansion target.
4. Around 108.00 being long term trend line resistance.
5. 110.00 being a prior Swing High Pivot.
Scenario 2
Alternatively USDJPY could continue its retracement potentially to trend line support and then the prior pivot swing low. . However from a technical stand point a prior swing low breach would be required to confirm a change of trend.


Daily Technical Analysis for USDCHF as at 6th June 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : 0.9550 – 0.9370
Target 1 : 0.9840
Target 2 : 0.9970
Stop : 0.9245


chf_zps3a7b046a.gif



Comments
USDCHF is this morning trading unchanged from the open lower after yesterdays down day. Today’s opening range is 38 pips which equates to 31% of the daily average true range.

In terms of the bigger picture the swing bias remains positive.

The following factors are confirming or reinforcing this market bias:
1. The averages are confirming the market direction.
2. The price action is trading beneath both positively layered averages which can be viewed as oversold.
3. RSI continues to diverge positively.
4. The price action has retraced deep into Fibonacci support.
5. The price action has managed to break below the downward sloping trend line which could be viewed as over sold.
Alternative counter trend bullish factors:
1. The price action has broken and closed below both averages.
2. The moving averages are attempting to cross negatively.
3. The price action has broken beneath the downward sloping trend line which could be viewed as a warning of pending trend reversal to the downside.
Scenario 1
As the dominant daily trend is up the deep retracement into the averages and possible further move into Fibonacci support could be interpreted as oversold and might offer buying opportunities. Now that a loss of momentum has been identified in that the weekly RSI is diverging positively does give the long side some extra weight. The initial target for any down break would be the 22nd May prior swing high.

Scenario 2
Alternatively the price action could possibly continue its correction down further into Fibonacci support and then the downward sloping trend line.However from a technical stand point a prior swing low breach would be required to confirm a change of trend.

- - - Updated - - -

Daily Technical Analysis for Gold as at 6th June 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : 1452.60 – 1525.85
Target 1 : 1321.75
Target 2 : 1308.08
Stop : 1590.20

gold_zps0b46d83e.gif



Comments
Gold is this morning trading lower from the open after yesterdays marginal up day with the price action over the last few sessions forming a small converging triangle. Today’s opening range is 64 pips which equates to 21% of the daily average true range

In terms of the bigger picture the swing bias remains negative.

The following factors are confirming or reinforcing this market bias:
1. The averages are confirming the market direction.
2. The price action is trading between both negatively layered averages which can be viewed as a possible shorting area.
3. RSI continues to diverge negatively.
4. The price action is approaching Fibonacci resistance.
Alternative counter trend bullish factors:
1. The moving averages are both rising and converging and converging which could be a sign of a potential positive cross over.
2. If one was to move to the higher time frame Weekly chart it is easier to see that the price action is in the process of forming a higher low.
3. There is still some distance between the current price and Fibonacci resistance which gives the price
action some space to pull back further.
Scenario 1


Daily Technical Analysis for Oil (WTI) as at 6th June 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -

oil_zps3b2eaee9.gif
 
A

acfx

Broker Representative
Daily Technical Analysis from ACFX 07.06.2013

Daily Technical Analysis for EURUSD as at 7th June 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -


eur_zpsbdad5b29.gif



Comments
EURUSD is this morning trading unchanged from the open after yesterdays strong up day which saw a breach of a prior pivot high. Today’s opening range is 33 pips which equates to 30% of the daily average true range.

In terms of the bigger picture the swing bias has turned positive.

The following factors are confirming or reinforcing this market bias:
1. The price action is trading above both positively layered averages.
2. The price action has managed to break above the downward sloping trend line.
3. The RSI is in gear with the move up.
4. The price action has cleared resistance of 1.3250.
5. Both the daily and weekly time frames as positive and in gear.
6. A Head and Shoulders pattern failure on the Weekly time frame.
Alternative counter trend bearish factors:
1. The price action is extended from the averages and therefore has space to correct.
2. The price action if it continues on its upward path will intersect with a prior broken upward sloping trend line.
3. The price action is moving into broad Fibonacci resistance.
Scenario 1
As the dominant daily trend is up retracements into support could be viewed as buying opportunities

Scenario 2
Alternatively as EURUSD is now extended from the averages a corrective move down to the 8 period moving averages is a possibility.


Daily Technical Analysis for GBPUSD as at 7th June 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -


gbp_zps91a78b97.gif



Comments
GBPUSD is this morning trading marginally higher from the open after yesterdays strong up day which saw a breach of a prior pivot high and a positive moving average cross over. Today’s opening range is 37 pips which equates to a 29% of the daily average true range.

In terms of the bigger picture he swing bias has turned positive.

The following factors are confirming or reinforcing this market bias:
1. The price action is trading above both positively layered averages.
2. The price action has managed to break above the downward sloping trend line.
3. The price action has breached and closed above a prior broken upward sloping trend line.
4. The RSI is in gear with the move up.
5. The price action has cleared resistance of 1.5600
6. Both the daily and weekly time frames as positive and in gear.
Alternative counter trend bearish factors:
1. The price action is extended from the averages and therefore has space to correct.
2. The price action is moving into broad Fibonacci resistance.
Scenario 1
As the dominant daily trend is up retracements into support could be viewed as buying opportunities

Scenario 2
Alternatively as GBPUSD is now extended from the averages a corrective move down to the 8 period moving averages is a possibility.



Daily Technical Analysis for USDJPY as at 7th June 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -

jpy_zps33d2d269.gif



Comments
USDJPY is this morning trading lower from the open after yesterdays strong down day which saw a breach of a prior pivot low and the averages cross negatively. Today’s opening range is 196 pips which equates to 118% of the daily average true range.

In terms of the bigger picture the swing bias has turned negative.

The following factors are confirming or reinforcing this market bias:
1. The price action is trading below both negatively layered averages.
2. The price action has managed to break below the upward sloping trend line.
3. The RSI is in gear with the move up.
4. The price action has cleared support of 95.80.
Alternative counter trend bullish factors:
1. The price action is extended from the averages and therefore has space to correct.
Scenario 1
As the dominant daily trend is down retracements into resistance could be viewed as selling opportunities

Scenario 2
Alternatively USDJPY is extended form the averages a retracement to the 8 period moving averages is a possibility.


Daily Technical Analysis for USDCHF as at 7th June 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -

chf_zpsf45fe156.gif




Comments
USDCHF is this morning trading unchanged from the open lower after yesterdays strong down day which saw a breach of a prior pivot low and the averages cross negatively. Today’s opening range is 52 pips which equates to 39% of the daily average true range.

In terms of the bigger picture the swing bias has turned negative.

The following factors are confirming or reinforcing this market bias:
1. The price action is trading below both negatively layered averages.
2. The price action has managed to breach but not closed beneath the prior broken downward sloping trend line.
3. The RSI is in gear with the move up.
4. The price action has breached but not closed beneath support of 0.9250
Alternative counter trend bullish factors:
1. The price action is extended from the averages and therefore has space to correct.
2. That price action was repelled by the prior broken downward sloping trend line could be a sign of resistance to the down side direction.
3. That price action was repelled by the 0.9250 support could be a sign of resistance to the down side direction.
Scenario 1
As the dominant daily trend is down retracements into resistance could be viewed as selling opportunities

Scenario 2
Alternatively USDCHF is extended form the averages a retracement to the 8 period moving averages is a possibility.


Daily Technical Analysis for Gold as at 7th June 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : 1452.60 – 1525.85
Target 1 : 1321.75
Target 2 : 1308.08
Stop : 1590.20


gold_zps001ffd6c.gif


Comments
Gold is this morning trading unchanged from the open after yesterdays marginal up day with the price action over the last few sessions form a larger converging triangle. Today’s opening range is 680 pips which equates to 24% of the daily average true range

In terms of the bigger picture the swing bias remains negative.

The following factors are confirming or reinforcing this market bias:
1. The averages are confirming the market direction.
2. The price action is trading between both negatively layered averages which can be viewed as a possible shorting area.
3. RSI continues to diverge negatively.
4. The price action is approaching Fibonacci resistance.
Alternative counter trend bullish factors:
1. The moving averages are both rising and converging and converging which could be a sign of a potential positive cross over.
2. If one was to move to the higher time frame Weekly chart it is easier to see that the price action is in the process of forming a higher low.
3. There is still some distance between the current price and Fibonacci resistance which gives the price
action some space to pull back further.
Scenario 1
As the dominant daily trend is down the retracement into the averages might possibly offer shorting opportunities at resistance. The initial target for any down break would be the 20th May prior low.

Scenario 2
Alternatively as Gold has closed above the 8 period moving averages the potential for a move to Fibonacci resistance comes into play. However from a technical stand point a prior swing high breach would be required to confirm a change of trend.



Daily Technical Analysis for Oil (WTI) as at 7th June 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -


oil_zpsc09e825e.gif


Comments
Oil is this morning trading unchanged from the open after yesterdays strong up day. Today’s opening range is 33 pips which equates to 19% of the daily average true range.

The price action continues to trade near the top of a large monthly converging triangle. However following the breach of the prior pivot low the swing bias has changed from positive to negative.

In terms of the bigger picture the swing bias remains negative.

The following factors are confirming or reinforcing this market bias:
1. The averages are confirming the market direction.
2. The price action is trading above negatively layered averages which could be viewed as over bought possible shorting area.
Alternative counter trend bullish factors:
1. The price action has broken above the upward sloping trend line which could be viewed as a warning of pending trend reversion to the upside.
2. From a bullish perspective the price action has retraced and bounced off Fibonacci support.
3. No sign yet of a negative divergence in the weekly RSI.
Scenario 1
As the dominant daily trend has changed to negative we are monitoring the possibility of continued move down with corrective pullbacks offering possible selling opportunities.
 
A

acfx

Broker Representative
Daily Technical Analysis from ACFX 11.06.2013

Daily Technical Analysis for EURUSD as at 11th June 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -


eur_zps02207489.gif



Comments
EURUSD is this morning trading higher from the open after yesterdays up day. Today’s opening range is 45 pips which equates to 43% of the daily average true range.

The pullback from Fibonacci resistance was temporary as the prices action yesterday printed a bullish piercing line candle. As the distance to the 1.3300 level is well within the average daily range a move to this area is a possibility. A move however beneath yesterdays low will open up the possibility of a further pullback to the 8 period moving averages.

In terms of the bigger picture the swing bias is positive.

The following factors are confirming or reinforcing this market bias:
1. The price action is trading above both positively layered averages.
2. The price action has managed to break above the downward sloping trend line.
3. The RSI is in gear with the move up.
4. The price action has cleared resistance of 1.3250.
5. Both the daily and weekly time frames as positive and in gear.
6. A Head and Shoulders pattern failure on the Weekly time frame.
Alternative counter trend bearish factors:
1. The price action is extended from the averages and therefore has space to correct.
2. The price action if it continues on its upward path will intersect with a prior broken upward sloping trend line.
3. The price action is trading within Fibonacci resistance.
Scenario 1
As the dominant daily trend is up retracements into support could be viewed as buying opportunities

Scenario 2
Alternatively as EURUSD is now extended from the averages a corrective move down to the 8 period moving averages is a possibility.



Daily Technical Analysis for GBPUSD as at 11th June 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -

gbp_zps8bc4a1dd.gif



Comments
GBPUSD is this morning trading higher from the open after yesterdays up day. Today’s opening range is 46 pips which equates to a 38% of the daily average true range.

The pullback from Fibonacci resistance has not followed through GBPUSD once again rising to the upward trend line and the Fibonacci resistance. A continuation of the up move to the high of 6th of June is a possibility however a potential correction to the 8 period moving averages cannot be discounted. That the RSI has shown signs of negative divergence does highlight downside risk.

In terms of the bigger the swing bias remains positive.

The following factors are confirming or reinforcing this market bias:
1. The price action is trading above both positively layered averages.
2. The price action has managed to break above the downward sloping trend line.
3. The price action has cleared resistance of 1.5600
4. Both the daily and weekly time frames as positive and in gear.
Alternative counter trend bearish factors:
1. The price action is extended from the averages and therefore has space to correct.
2. The up move has not cleared Fibonacci resistance.
3. The up move has not cleared trend line resistance.
4. The RSI is diverging negatively.
Scenario 1
As the dominant daily trend is up retracements into support could be viewed as buying opportunities

Scenario 2
Alternatively as GBPUSD is now extended from the averages a corrective move down to the 8 period moving averages is a possibility.



Daily Technical Analysis for USDJPY as at 11th June 201310
DAILY OVERVIEW
Trend : Short
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -


jpy_zps4dfd526f.gif



Comments
USDJPY is this morning trading lower from the open after yesterdays up day. Today’s opening range is 126 pips which equates to 71% of the daily average true range.

Yesterdays up move off the back off Fridays Hammer candle found resistance at the upward sloping trend line and the 8 period moving averages.

In terms of the bigger picture the swing bias is negative.

The following factors are confirming or reinforcing this market bias:
1. The price action is trading below both negatively layered averages.
2. The price action has managed to break below the upward sloping trend line.
3. The RSI is in gear with the move up.
4. The price action has tested support of 95.80.
Alternative counter trend bullish factors:
1. Fridays hammer candle could potentially drive USDJPY higher.
Scenario 1
As the dominant daily trend is down retracements into resistance could be viewed as selling opportunities

Scenario 2
Alternatively USDJPY is extended form the averages a retracement to the 8 period moving averages is a possibility.


Daily Technical Analysis for USDCHF as at 11th June 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -


chf_zps5616cffc.gif


Comments
USDCHF is this morning trading lower from the open after yesterdays strong down day. Today’s opening range is 44 pips which equates to 34% of the daily average true range.

Yesterday USDCHF traded up to the 8 period moving averages where it found strong resistance.

In terms of the bigger picture the swing bias is negative.

The following factors are confirming or reinforcing this market bias:
1. The price action is trading below both negatively layered averages.
2. The price action has managed to breach but not closed beneath the prior broken downward sloping trend line.
3. The RSI is in gear with the move up.
4. The price action has breached but not closed beneath support of 0.9250
Alternative counter trend bullish factors:
1. The price action is extended from the averages and therefore has space to correct.
2. That price action was repelled by the prior broken downward sloping trend line could be a sign of resistance to the down side direction.
3. That price action was repelled by the 0.9250 support could be a sign of resistance to the down side direction.
Scenario 1
As the dominant daily trend is down retracements into resistance could be viewed as selling opportunities

Scenario 2
Alternatively USDCHF is extended form the averages a retracement to the 8 period moving averages is a possibility.
 
A

acfx

Broker Representative
Daily Technical Analysis for Gold as at 11th June 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : 1452.60 – 1525.85
Target 1 : 1321.75
Target 2 : 1308.08
Stop : 1590.20


gold_zps0ab58f17.gif



Comments
Gold is this morning trading lower from the open after yesterdays up day. Today’s opening range is 59 pips which equates to 24% of the daily average true range

After Fridays strong down day the past two days price action has been muted. A breach of the 20th May low will reconfirm the down trend.

In terms of the bigger picture the swing bias remains negative.

The following factors are confirming or reinforcing this market bias:
1. The averages are confirming the market direction.
2. The price action has broken down from both negatively layered averages.
Alternative counter trend bullish factors:
1. If one was to move to the higher time frame Weekly chart it is easier to see that the price action is in the process of forming a higher low.
2. There is still some distance between the current price and Fibonacci resistance which gives the price
action some space to pull back further.
Scenario 1
As the dominant daily trend is down the retracement into the averages might possibly offer shorting opportunities at resistance.
 
A

acfx

Broker Representative
Daily Technical Analysis from ACFX 12.06.2013

Daily Technical Analysis for EURUSD as at 12th June 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -

eur_zps589c99d4.gif



Comments
EURUSD is this morning trading lower from the open after yesterdays up day. Today’s opening range is 20 pips which equates to 20% of the daily average true range.

Yesterday EURUSD traded higher and breached the 1.3300 level following Monday’s bullish piercing line candle. We are monitoring a move to the 1.3400 level being the next resistance level to the upside. However as the current pricing is extended from the averages there is a possibility of a corrective retracement to the 8 period moving averages.

In terms of the bigger picture the swing bias is positive.

The following factors are confirming or reinforcing this market bias:
1. The price action is trading above both positively layered averages.
2. The price action has managed to break above the downward sloping trend line.
3. The RSI is in gear with the move up.
4. The price action has breached (but not currently trading above) the 1.3300 level.
5. Both the daily and weekly time frames as positive and in gear.
6. A Head and Shoulders pattern failure on the Weekly time frame.
Alternative counter trend bearish factors:
1. The price action is extended from the averages and therefore has space to correct.
2. The price action if it continues on its upward path will intersect with a prior broken upward sloping trend line.
3. The price action is trading within Fibonacci resistance.
Scenario 1
As the dominant daily trend is up retracements into support could be viewed as buying opportunities

Scenario 2
Alternatively as EURUSD is now extended from the averages a corrective move down to the 8 period moving averages is a possibility.


Daily Technical Analysis for GBPUSD as at 12th June 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -


gbp_zps893f95ea.gif



Comments
GBPUSD is this morning trading slightly lower from the open after yesterdays up day. Today’s opening range is 18 pips which equates to a 15% of the daily average true range.

Yesterday GBPUSD traded higher and breached and closed above the rising to the upward trend line. A continuation of the up move to the high of 6th of June is a possibility however a potential correction to the 8 period moving averages cannot be discounted. That the RSI has shown signs of negative divergence does highlight downside risk.

In terms of the bigger the swing bias remains positive.

The following factors are confirming or reinforcing this market bias:
1. The price action is trading above both positively layered averages.
2. The price action has managed to break and close above the downward sloping trend line.
3. The price action has cleared resistance of 1.5600
4. Both the daily and weekly time frames as positive and in gear.
Alternative counter trend bearish factors:
1. The price action is extended from the averages and therefore has space to correct.
2. The up move has not cleared Fibonacci resistance.
3. The up move has not cleared trend line resistance.
4. The RSI is diverging negatively.
Scenario 1
As the dominant daily trend is up retracements into support could be viewed as buying opportunities

Scenario 2
Alternatively as GBPUSD is now extended from the averages a corrective move down to the 8 period moving averages is a possibility.


Daily Technical Analysis for USDJPY as at 12th June 201310
DAILY OVERVIEW
Trend : Short
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -

jpy_zps5aef26cc.gif



Comments
USDJPY is this morning trading higher from the open after yesterdays strong down day. Today’s opening range is 98 pips which equates to 54% of the daily average true range.

Yesterday USDJPY continued to trade lower following a bounce off the 8 period moving averages and trend line resistance. A breach of the 7th June low which was part of a bullish hammer candle will reinforce the downward momentum. However we continue to monitor pullbacks to the 8 period moving averages as selling opportunities.

In terms of the bigger picture the swing bias is negative.

The following factors are confirming or reinforcing this market bias:
1. The price action is trading below both negatively layered averages.
2. The price action has managed to break below the upward sloping trend line.
3. The RSI is in gear with the move up.
4. The price action has tested (but not closed beneath) support of 95.80.
Alternative counter trend bullish factors:
1. Fridays hammer candle could potentially stall any further downside momentum.
Scenario 1
As the dominant daily trend is down retracements into resistance could be viewed as selling opportunities

Scenario 2
Alternatively USDJPY is extended form the averages a retracement to the 8 period moving averages is a possibility.



Daily Technical Analysis for USDCHF as at 12th June 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -


chf_zps44e8c335.gif



Comments
USDCHF is this morning trading higher from the open after yesterdays strong down day. Today’s opening range is 25 pips which equates to 20% of the daily average true range.

Yesterday USDCHF continued to trade lower following a bounce off the 8 period moving averages. We are monitoring a potential test of the 0.9200 level. However the price action is extended from the averages and there continues to be a possibility of pullbacks to the 8 period moving averages.

In terms of the bigger picture the swing bias is negative.

The following factors are confirming or reinforcing this market bias:
1. The price action is trading below both negatively layered averages.
2. The price action has managed to breach but not closed beneath the prior broken downward sloping trend line.
3. The RSI is in gear with the move up.
4. The price action has breached but not closed beneath support of 0.9250
Alternative counter trend bullish factors:
1. The price action is extended from the averages and therefore has space to correct.
2. That price action has not cleared the prior broken downward sloping trend line could be a sign of resistance to the down side direction.
3. That price action has not breached the 0.9200 level.
Scenario 1
As the dominant daily trend is down retracements into resistance could be viewed as selling opportunities

Scenario 2
Alternatively USDCHF is extended form the averages a retracement to the 8 period moving averages is a possibility.

- - - Updated - - -

Daily Technical Analysis for Gold as at 12th June 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : 1452.60 – 1525.85
Target 1 : 1321.75
Target 2 : 1308.08
Stop : 1590.20

gold_zps775aabe3.gif



Comments
Gold is this morning trading lower from the open after yesterdays down day. Today’s opening range is 136 pips which equates to 59% of the daily average true range

Yesterday’s price action printed a bullish candle. Breaches beneath the low of this candle will reinforce the down trend.

In terms of the bigger picture the swing bias remains negative.
 
A

acfx

Broker Representative
Daily Technical Analysis from ACFX 13.06.2013

Daily Technical Analysis for EURUSD as at 13th June 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -

eur_zps2308d333.gif




Comments
EURUSD is this morning trading higher from the open after yesterdays up day. Today’s opening range is 40 pips which equates to 39% of the daily average true range.

The move above the 1.3300 level has continued following Monday’s bullish piercing line candle. We continue to monitor a possible move to the 1.3400 level being the next resistance level to the upside. However as the current pricing is extended from the averages there is a possibility of a corrective retracement to the 8 period moving averages.

In terms of the bigger picture the swing bias is positive.

The following factors are confirming or reinforcing this market bias:
1. The price action is trading above both positively layered averages.
2. The price action has managed to break above the downward sloping trend line.
3. The RSI is in gear with the move up.
4. The price action has breached and closed above the 1.3300 level.
5. Both the daily and weekly time frames as positive and in gear.
6. A Head and Shoulders pattern failure on the Weekly time frame.
Alternative counter trend bearish factors:
1. The price action is extended from the averages and therefore has space to correct.
2. The price action if it continues on its upward path will intersect with a prior broken upward sloping trend line.
3. The price action is trading within Fibonacci resistance.
Scenario 1
As the dominant daily trend is up retracements into support could be viewed as buying opportunities

Scenario 2
Alternatively as EURUSD is now extended from the averages a corrective move down to the 8 period moving averages is a possibility.




Daily Technical Analysis for GBPUSD as at 13th June 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -

gbp_zpsdb8fbd17.gif



Comments
GBPUSD is this morning trading unchanged from the open after yesterdays up day. Today’s opening range is 32 pips which equates to a 27% of the daily average true range.

Yesterday GBPUSD continued to trade higher following the breach and close above the rising the upward trend line with the resulting move taking out the high of 6th of June. The next resistance level is at 1.5850.

As the price action is extended from the averages the possibility however for a potential correction to the 8 period moving averages cannot be discounted. However the negative divergence that was setting up in the RSI has now been discounted with this oscillator now in gear with the move.

In terms of the bigger the swing bias remains positive.

The following factors are confirming or reinforcing this market bias:
1. The price action is trading above both positively layered averages.
2. The price action has managed to break and close above the upward sloping trend line.
3. The price action has cleared resistance of 1.5600
4. Both the daily and weekly time frames are positive and in gear.
5. The RSI is in gear with the move.
Alternative counter trend bearish factors:
1. The price action is extended from the averages and therefore has space to correct.
2. The up move has not cleared Fibonacci resistance.
Scenario 1
As the dominant daily trend is up retracements into support could be viewed as buying opportunities

Scenario 2
Alternatively as GBPUSD is now extended from the averages a corrective move down to the 8 period moving averages is a possibility.


Daily Technical Analysis for USDJPY as at 13th June 201310
DAILY OVERVIEW
Trend : Short
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -

jpy_zpscd45fd54.gif



Comments
USDJPY is this morning trading lower from the open after yesterdays slight down day. Today’s opening range is 178 pips which equates to 96% of the daily average true range.

Yesterday USDJPY closed slightly lower on what was an indifferent trading session only for this morning to open aggressively negative and trade most of its expected daily range prior to the London open. This morning’s move has in the process breached the 7th June low which was part of a bullish hammer candle.

Although the market is very bearish that the price action is extended from the averages is extended from the averages leaves open the possibility for corrective up moves.

In terms of the bigger picture the swing bias is negative.

The following factors are confirming or reinforcing this market bias:
1. The price action is trading below both negatively layered averages.
2. The price action has managed to break below the upward sloping trend line.
3. The RSI is in gear with the move up.
4. The price action is trading beneath the 95.80 support level.
Alternative counter trend bullish factors:
1. USDJPY is at an extreme and may need to pull back to its average prior to resuming its downward course.
Scenario 1
As the dominant daily trend is down retracements into resistance could be viewed as selling opportunities

Scenario 2
Alternatively USDJPY is extended form the averages a retracement to the 8 period moving averages is a possibility.


Daily Technical Analysis for USDCHF as at 13th June 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -

chf_zps56228c02.gif


Comments
USDCHF is this morning trading lower from the open after yesterdays down day. Today’s opening range is 45 pips which equates to 36% of the daily average true range.

Yesterday USDCHF continued to trade lower following a bounce off the 8 period moving averages and this move has continued this morning with a result that the 0.9200 has been tested and breached level.

However the price action is extended from the averages and there continues to be a possibility of pullbacks to the 8 period moving averages.

In terms of the bigger picture the swing bias is negative.

The following factors are confirming or reinforcing this market bias:
1. The price action is trading below both negatively layered averages.
2. The RSI is in gear with the move.
3. The price action has breached support of 0.9250
Alternative counter trend bullish factors:
1. The price action is extended from the averages and therefore has space to correct.
Scenario 1
As the dominant daily trend is down retracements into resistance could be viewed as selling opportunities

Scenario 2
Alternatively USDCHF is extended form the averages a retracement to the 8 period moving averages is a possibility.



Daily Technical Analysis for Gold as at 13th June 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : 1452.60 – 1525.85
Target 1 : 1321.75
Target 2 : 1308.08
Stop : 1590.20


gold_zps3071051b.gif



Comments
Gold is this morning trading unchanged from the open after yesterdays up day. Today’s opening range is 104 pips which equates to 44% of the daily average true range

The bullish hammer candle has had the effect of pushing Gold back into the averages and in the process these averages have turned positive. A breach of the 11th June low will reinforce the down trend where as a breach of the 6th June high will reverse the trend to positive.

In terms of the bigger picture the swing bias remains negative.

The following factors are confirming or reinforcing this market bias:
1. The moving averages continue offer resistance to Gold.
2. The RSI is in gear with the price action.
Alternative counter trend bullish factors:
1. If one was to move to the higher time frame Weekly chart it is easier to see that the price action is in the process of forming a higher low.
2. There is still some distance between the current price and Fibonacci resistance which gives the price action some space to pull back further.
3. The averages have turned positive.
Scenario 1
As the dominant daily trend is down the retracement into the averages might possibly offer shorting opportunities at resistance. The initial target for any down break would be the 20th May prior low.

Scenario 2
Alternatively as long Gold can trade above the 20th May high there is a possibility of a higher swing being printed.


Daily Technical Analysis for Oil (WTI) as at 13th June 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -


oil_zps298eaea6.gif


Comments
Oil is this morning trading lower from the open after yesterdays up day. Today’s opening range is 60 pips which equates to 33% of the daily average true range.

The price action continues trade at the top of a large monthly converging triangle. Oil for the past 4 sessions is contained by the bullish candle of the 7th June and the averages are cross positively. A break above or below this candle will possibly give a good indication of the medium term momentum.

In terms of the bigger picture the swing bias remains negative.
 
A

acfx

Broker Representative
Daily Technical Analysis for EURUSD as at 17th June 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -

eur_zps23aa685a.gif


Comments
EURUSD is this morning trading lower from the open after Fridays down day. Today’s opening range is 39 pips which equates to 37% of the daily average true range.

The up move came close to reaching the 1.3400 target but has since shown signs that it is beginning to run out of momentum. This can be seen in Friday’s candle printed which a lower close.

We are currently monitoring a corrective move initially down to the 8 period moving averages.

In terms of the bigger picture the swing bias is positive.

The following factors are confirming or reinforcing this market bias:
1. The price action is trading above both positively layered averages.
2. The price action has managed to break above the downward sloping trend line.
3. The RSI is in gear with the move up.
4. The price action has breached and closed above the 1.3300 level.
5. Both the daily and weekly time frames as positive and in gear.
6. A Head and Shoulders pattern failure on the Weekly time frame.
Alternative counter trend bearish factors:
1. The price action is extended from the averages and therefore has space to correct.
2. The price action if it continues on its upward path will intersect with a prior broken upward sloping trend line.
3. The price action is trading within Fibonacci resistance.
Scenario 1
As the dominant daily trend is up retracements into support could be viewed as buying opportunities

Scenario 2
Alternatively as EURUSD is now extended from the averages a corrective move down to the 8 period moving averages is a possibility.


Daily Technical Analysis for GBPUSD as at 17th June 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -

gbp_zpsff3162ce.gif



Comments
GBPUSD is this morning trading lower from the open after Fridays down day. Today’s opening range is 40 pips which equates to a 33% of the daily average true range.

Yesterday GBPUSD continued to trade higher following the breach and close above the rising the upward trend line with the resulting move taking out the high of 6th of June. The next resistance level is at 1.5850.

Friday’s candle initially traded aggressively lower as it broke through the upward sloping trend line however buying did come into the market at the area of the 8 period moving averages. This had the effect of pairing much of that day’s loss.

Following the bounce off support we are monitoring the possibility of continued upward momentum.

In terms of the bigger the swing bias remains positive.

The following factors are confirming or reinforcing this market bias:
1. The price action is trading above both positively layered averages.
2. The price action has managed to break and close above the upward sloping trend line.
3. The price action has cleared resistance of 1.5600
4. Both the daily and weekly time frames are positive and in gear.
5. The RSI is in gear with the move.
Alternative counter trend bearish factors:
1. The price action is extended from the averages and therefore has space to correct.
2. The up move has not cleared Fibonacci resistance.
Scenario 1
As the dominant daily trend is up retracements into support could be viewed as buying opportunities

Scenario 2
Alternatively as GBPUSD is now extended from the averages a corrective move down to the 8 period moving averages is a possibility.


Daily Technical Analysis for USDJPY as at 17th June 201310
DAILY OVERVIEW
Trend : Short
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -


jpy_zps8f83c98c.gif


Comments
USDJPY is this morning trading higher from the open after Fridays down day. Today’s opening range is 81 pips which equates to 31% of the daily average true range.

USDJPY is this morning trading within a 3 day range. This could be a sign that the market is consolidating prior to a continuation of the down move or the price action basing before moving up to the averages.

The next support area is 92.50 being the 2nd April swing low.

In terms of the bigger picture the swing bias is negative.

The following factors are confirming or reinforcing this market bias:
1. The price action is trading below both negatively layered averages.
2. The price action has managed to break below the upward sloping trend line.
3. The RSI is in gear with the move up.
4. The price action is trading beneath the 95.80 support level.
Alternative counter trend bullish factors:
1. USDJPY is at an extreme and may need to pull back to its average prior to resuming its downward course.
Scenario 1
As the dominant daily trend is down retracements into resistance could be viewed as selling opportunities

Scenario 2
Alternatively USDJPY is extended form the averages a retracement to the 8 period moving averages is a possibility.


Daily Technical Analysis for USDCHF as at 17th June 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -

chf_zps52b2df0d.gif


Comments
USDCHF is this morning trading higher from the open after Fridays down day. Today’s opening range is 31 pips which equates to 25% of the daily average true range.

Friday’s price action initially traded higher following Thursday’s bullish candle. This upward momentum traded towards the 8 period moving averages where It found resistance which pushed USDCHF lower. This led to a negative close.

In terms of the bigger picture the swing bias is negative.

The following factors are confirming or reinforcing this market bias:
1. The price action is trading below both negatively layered averages.
2. The RSI is in gear with the move.
3. The price action has breached support of 0.9250
Alternative counter trend bullish factors:
1. The price action is extended from the averages and therefore has space to correct.
2. USDCHF is this morning trading above the 0.9250 support level.
Scenario 1
As the dominant daily trend is down retracements into resistance could be viewed as selling opportunities

Scenario 2
Alternatively USDCHF is extended form the averages a retracement to the 8 period moving averages is a possibility.

- - - Updated - - -

Daily Technical Analysis for Gold as at 17th June 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : 1452.60 – 1525.85
Target 1 : 1321.75
Target 2 : 1308.08
Stop : 1590.20

gold_zps7b782239.gif



Comments
Gold is this morning trading lower from the open after Fridays up day. Today’s opening range is 56 pips which equates to 24% of the daily average true range

The price action continues to edge towards the averages. A breach of the 11th June low will reinforce the down trend where as a breach of the 6th June high will reverse the trend to positive.

In terms of the bigger picture the swing bias remains negative.

The following factors are confirming or reinforcing this market bias:
1. The moving averages continue offer resistance to Gold.
2. The RSI is in gear with the price action.
Alternative counter trend bullish factors:
1. If one was to move to the higher time frame Weekly chart it is easier to see that the price action is in the process of forming a higher low.
2. There is still some distance between the current price and Fibonacci resistance which gives the price action some space to pull back further.
3. The averages have turned positive.
Scenario 1
As the dominant daily trend is down the retracement into the averages might possibly offer shorting opportunities at resistance. The initial target for any down break would be the 20th May prior low.

Scenario 2
Alternatively as long Gold can trade above the 20th May high there is a possibility of a higher swing being printed.


Daily Technical Analysis for Oil (WTI) as at 17th June 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -


oil_zpsf17991f4.gif


Comments
Oil is this morning trading lower from the open after Fridays strong up day. Today’s opening range is 47 pips which equates to 25% of the daily average true range.

Oil has broken above the top of a large monthly converging triangle and in the process printed a Higher High candle that has reversed the short lived negative swing trend indication. Furthermore the inverse Head and Shoulders pattern identified in prior posts has broken to the upside.

In terms of the bigger picture the swing bias remains negative.

The following factors are confirming or reinforcing this market bias:
1. From a bullish perspective the price action has retraced and bounced off Fibonacci support.
2. No sign yet of a negative divergence in the weekly RSI.
3. An inverse Head and Shoulders pattern is breaking to the upside.
4. The price action is trading just above the large monthly converging triangle.
5. The averages are positively crossed.
Alternative counter trend bearish factors:
1. The price action is extended from the averages.
 
A

acfx

Broker Representative
Daily Technical Analysis for EURUSD as at 18th June 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -


eur_zps308dde3e.gif


Comments
EURUSD is this morning trading lower from the open after yesterdays up day. Today’s opening range is 20 pips which equates to 20% of the daily average true range.

EURUSD is consolidating at the highs as it approaches the 8 period moving averages.

In terms of the bigger picture the swing bias is positive.

The following factors are confirming or reinforcing this market bias:
1. The price action is trading above both positively layered averages.
2. The price action has managed to break above the downward sloping trend line.
3. The RSI is in gear with the move up.
4. The price action has breached and closed above the 1.3300 level.
5. Both the daily and weekly time frames as positive and in gear.
6. A Head and Shoulders pattern failure on the Weekly time frame.
Alternative counter trend bearish factors:
1. The price action if it continues on its upward path will intersect with a prior broken upward sloping trend line.
2. The price action is trading within Fibonacci resistance.
Scenario 1
As the dominant daily trend is up retracements into support could be viewed as buying opportunities

Scenario 2
Alternatively as EURUSD is now extended from the averages a corrective move down to the 8 period moving averages is a possibility.


Daily Technical Analysis for GBPUSD as at 18th June 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -

gbp_zps1b459a34.gif



Comments
GBPUSD is this morning trading lower from the open after yesterday’s unchanged day. Today’s opening range is 29 pips which equates to a 25% of the daily average true range.

The price action continues to trade above the 8 period moving averages and the upward sloping trend line. The next resistance level is at 1.5850.

In terms of the bigger the swing bias remains positive.

The following factors are confirming or reinforcing this market bias:
1. The price action is trading above both positively layered averages.
2. The price action has managed to break and close above the upward sloping trend line.
3. The price action has cleared resistance of 1.5600
4. Both the daily and weekly time frames are positive and in gear.
5. The RSI is in gear with the move.
Alternative counter trend bearish factors:
1. The averages themselves have become extended which could be an indication that the price action may need to correct.
2. The up move has not cleared Fibonacci resistance.
Scenario 1
As the dominant daily trend is up retracements into support could be viewed as buying opportunities

Scenario 2
Alternatively as GBPUSD is now extended from the averages a corrective move down to the 8 period moving averages is a possibility.


Daily Technical Analysis for USDJPY as at 18th June 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -


jpy_zps49152311.gif



Comments
USDJPY is this morning trading higher from the open after yesterdays up day. Today’s opening range is 52 pips which equates to 28% of the daily average true range.

USDJPY is this morning trading within a 3 day range. This could be a sign that the market is consolidating prior to a continuation of the down move or the price action basing before moving up to the averages.

The next support area is 92.50 being the 2nd April swing low.

In terms of the bigger picture the swing bias is negative.

The following factors are confirming or reinforcing this market bias:
1. The price action is trading below both negatively layered averages.
2. The price action has managed to break below the upward sloping trend line.
3. The RSI is in gear with the move up.
4. The price action is trading beneath the 95.80 resistance level.
Alternative counter trend bullish factors:
1. USDJPY is at an extreme and may need to pull back to its average prior to resuming its downward course.
Scenario 1
As the dominant daily trend is down retracements into resistance could be viewed as selling opportunities

Scenario 2
Alternatively USDJPY is extended form the averages a retracement to the 8 period moving averages is a possibility.



Daily Technical Analysis for USDCHF as at 18th June 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -


chf_zps30296763.gif


Comments
USDCHF is this morning trading higher from the open after yesterdays up day. Today’s opening range is 17 pips which equates to 15% of the daily average true range.

The price action has rejected the 8 period moving averages but the strength of the bounce was negligible with the price action stubbornly staying close to this average.

In terms of the bigger picture the swing bias is negative.

The following factors are confirming or reinforcing this market bias:
1. The price action is trading below both negatively layered averages.
2. The RSI is in gear with the move.
3. The price action had breached support of 0.9250
Alternative counter trend bullish factors:
1. USDCHF is this morning trading above the 0.9250 support level.
Scenario 1
As the dominant daily trend is down retracements into resistance could be viewed as selling opportunities

Scenario 2
Alternatively if USDCHF could break above the 8 period moving averages there is a possibility of a broader correction in the direction of the 34 period moving averages.


Daily Technical Analysis for Gold as at 18th June 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : 1452.60 – 1525.85
Target 1 : 1321.75
Target 2 : 1308.08
Stop : 1590.20

gold_zps47558606.gif



Comments
Gold is this morning trading lower from the open after Yesterdays down day. Today’s opening range is 670 pips which equates to 29% of the daily average true range

Gold this morning is breaking down from the averages. A breach of the 11th June low will reinforce the down trend where as a breach of the 6th June high will reverse the trend to positive.

In terms of the bigger picture the swing bias remains negative.

The following factors are confirming or reinforcing this market bias:
1. The moving averages continue offer resistance to Gold.
2. The RSI is in gear with the price action.
3. The averages are layered negatively.
4. The price action has rejected the small average.
Alternative counter trend bullish factors:
1. If one was to move to the higher time frame Weekly chart it is easier to see that the price action is in the process of forming a higher low.
2. There is still some distance between the current price and Fibonacci resistance which gives the price action some space to pull back further.
Scenario 1
As the dominant daily trend is down the retracement into the averages might possibly offer shorting opportunities at resistance. The initial target for any down break would be the 20th May prior low.

Scenario 2
Alternatively as long Gold can trade above the 20th May high there is a possibility of a higher swing being printed.


Daily Technical Analysis for Oil (WTI) as at 18th June 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -

oil_zpsa9102dfd.gif



Comments
Oil is this morning trading lower from the open after yesterday’s unchanged day. Today’s opening range is 31 pips which equates to 18% of the daily average true range.

Yesterday’s price action ended unchanged after printing a wide range day that traded close to the 100% Fibonacci extension level. We are focused on the inverse Head and Shoulders pattern that has broken to the upside and a possible breach of the 100 level. However there is a fairly large weekly negative RSI divergence that has been noted as a potential drag against continued upside momentum.

In terms of the bigger picture the swing bias remains negative.

The following factors are confirming or reinforcing this market bias:
1. From a bullish perspective the price action has retraced and bounced off Fibonacci support.
2. An inverse Head and Shoulders pattern has broken to the upside.
3. The price action is trading just above the large monthly converging triangle.
4. The averages are positively crossed.
Alternative counter trend bearish factors:
1. The price action is extended from the averages.
2. A large negative RSI divergence is forming.
Scenario 1
As the dominant daily trend has changed to positive corrective pullbacks to the averages could offer buying opportunities with potential targets the 100 % and 138.2% Fibonacci Expansion level in the areas of 99.00 and 103.00 respectively. However the psychological 100.00 level will need to be broken for any further upside to continue.

Scenario 2
Alternatively as the price extended from the averages the price action may need to trade down to sideways before the up move continues.
 
A

acfx

Broker Representative
Daily Technical Analysis from ACFX 19.06.2013

Daily Technical Analysis for EURUSD as at 19th June 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -

eur_zpse8201471.gif


Comments
EURUSD is this morning trading unchanged from the open after yesterdays up day. Today’s opening range is 17 pips which equates to 18% of the daily average true range.

Yesterday EURUSD bounced off the 8 period moving averages.

In terms of the bigger picture the swing bias is positive.

The following factors are confirming or reinforcing this market bias:
1. The price action is trading above both positively layered averages.
2. The price action has managed to break above the downward sloping trend line.
3. The RSI is in gear with the move up.
4. The price action has breached and closed above the 1.3300 level.
5. Both the daily and weekly time frames as positive and in gear.
6. A Head and Shoulders pattern failure on the Weekly time frame.
Alternative counter trend bearish factors:
1. The price action if it continues on its upward path will intersect with a prior broken upward sloping trend line.
2. The price action is trading within Fibonacci resistance.
Scenario 1
As the dominant daily trend is up retracements into support could be viewed as buying opportunities

Scenario 2
Alternatively as EURUSD is now extended from the averages a corrective move down to the 8 period moving averages is a possibility.


Daily Technical Analysis for GBPUSD as at 19th June 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -


gbp_zps1ae56850.gif



Comments
GBPUSD is this morning trading lower from the open after yesterdays down day. Today’s opening range is 26 pips which equates to a 22% of the daily average true range.

Yesterday GBPUSD broke under the 8 period moving averages only for buyers to come to the market which had the effect of pairing some of the losses and in the process yesterday’s candle printed a bullish hammer. The next resistance level is at 1.5850.

In terms of the bigger the swing bias remains positive.

The following factors are confirming or reinforcing this market bias:
1. The price action is trading around both positively layered averages.
2. The price action had managed to break and close above the upward sloping trend line. We are monitoring the possibility GBPUSD retests the resistance.
3. The price action has cleared resistance of 1.5600
4. Both the daily and weekly time frames are positive and in gear.
5. The RSI is in gear with the move.
Alternative counter trend bearish factors:
1. The averages themselves have become extended which could be an indication that the price action may need to correct.
2. The up move has not cleared Fibonacci resistance.
3. The price action is now trading under the 8 period moving averages.
Scenario 1
As the dominant daily trend is up retracements into support could be viewed as buying opportunities

Scenario 2
Alternatively as GBPUSD has now experienced a good rally a correction to the 34period moving averages is a possibility.



Daily Technical Analysis for USDJPY as at 19th June 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -


jpy_zps02bf99ce.gif


Comments
USDJPY is this morning trading unchanged from the open after yesterdays up day. Today’s opening range is 48 pips which equates to 26% of the daily average true range.

USDJPY yesterday broke the 3 day range to the upside and is now trading at the 8 period moving averages. Approaches to resistance areas such as the averages could be an area where shorting opportunities are offered.

The next support area is 92.50 being the 2nd April swing low.

In terms of the bigger picture the swing bias is negative.

The following factors are confirming or reinforcing this market bias:
1. The price action is trading below both negatively layered averages.
2. The price action has managed to break below the upward sloping trend line.
3. The RSI is in gear with the move up.
4. The price action is trading beneath the 95.80 resistance level.
Alternative counter trend bullish factors:
1. USDJPY is at an extreme and may need to pull back to its average prior to resuming its downward course.
Scenario 1
As the dominant daily trend is down retracements into resistance could be viewed as selling opportunities

Scenario 2
Alternatively USDJPY is extended form the averages a retracement to the 8 period moving averages is a possibility.


Daily Technical Analysis for USDCHF as at 19th June 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -

chf_zpsef8e3efc.gif


Comments
USDCHF is this morning trading unchanged from the open after yesterdays down day. Today’s opening range is 12 pips which equates to 11% of the daily average true range.

The price action has rejected the 8 period moving averages but is finding some support at the 0.9200 level.

In terms of the bigger picture the swing bias is negative.

The following factors are confirming or reinforcing this market bias:
1. The price action is trading below both negatively layered averages.
2. The RSI is in gear with the move.
Alternative counter trend bullish factors:
1. USDCHF is this morning holding at the 0.9200 level.
Scenario 1
As the dominant daily trend is down retracements into resistance could be viewed as selling opportunities

Scenario 2
Alternatively if USDCHF could break above the 8 period moving averages there is a possibility of a broader correction in the direction of the 34 period moving averages.


Daily Technical Analysis for Gold as at 19th June 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : 1452.60 – 1525.85
Target 1 : 1321.75
Target 2 : 1308.08
Stop : 1590.20

gold_zps340d3138.gif



Comments
Gold is this morning trading unchanged from the open after Yesterdays down day. Today’s opening range is 560 pips which equates to 25% of the daily average true range

Gold this morning is experiencing a quiet open following yesterdays break down from the averages. A breach of the 11th June low will reinforce the down trend where as a breach of the 6th June high will reverse the trend to positive.

In terms of the bigger picture the swing bias remains negative.

The following factors are confirming or reinforcing this market bias:
1. The moving averages continue offer resistance to Gold.
2. The RSI is in gear with the price action.
3. The averages are layered negatively.
4. The price action has rejected the small average.
Alternative counter trend bullish factors:
1. If one was to move to the higher time frame Weekly chart it is easier to see that the price action is in the process of forming a higher low.
2. There is still some distance between the current price and Fibonacci resistance which gives the price action some space to pull back further.
Scenario 1
As the dominant daily trend is down the retracement into the averages might possibly offer shorting opportunities at resistance. The initial target for any down break would be the 20th May prior low.

Scenario 2
Alternatively as long Gold can trade above the 20th May high there is a possibility of a higher swing being printed.



Daily Technical Analysis for Oil (WTI) as at 19th June 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -


oil_zps2be5b432.gif


Comments
Oil is this morning trading higher from the open after yesterday’s strong up day. Today’s opening range is 42 pips which equates to 25% of the daily average true range.

The inverse Head and Shoulders pattern continues to be validated following yesterdays strong up day and continued upward momentum this morning. We are monitoring a possible breach of the 100% Fibonacci expansion level. However there is a fairly large weekly negative RSI divergence that has been noted as a potential drag against continued upside.

In terms of the bigger picture the swing bias remains negative.

The following factors are confirming or reinforcing this market bias:
1. From a bullish perspective the price action has retraced and bounced off Fibonacci support.
2. An inverse Head and Shoulders pattern has broken to the upside.
3. The price action is trading well above the large monthly converging triangle.
4. The averages are positively crossed.
Alternative counter trend bearish factors:
1. The price action is extended from the averages.
2. A large negative RSI divergence is forming.
Scenario 1
As the dominant daily trend has changed to positive corrective pullbacks to the averages could offer buying opportunities with potential targets the 100 % and 138.2% Fibonacci Expansion level in the areas of 99.00 and 103.00 respectively. However the psychological 100.00 level will need to be broken for any further upside to continue.

Scenario 2
Alternatively as the price extended from the averages the price action may need to trade down to sideways before the up move continues.
 
A

acfx

Broker Representative
Daily Technical Analysis for EURUSD as at 19th June 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -

eur_zps156d95cf.gif



Comments
EURUSD is this morning trading down from the open after yesterdays strong down day. Today’s opening range is 53 pips which equates to 52% of the daily average true range.

Yesterday EURUSD corrected to and broke through the 8 period moving averages. We are monitoring the price actions reaction as it approaches the 1.3250 to 1.3175 support range

In terms of the bigger picture the swing bias is positive.

The following factors are confirming or reinforcing this market bias:
1. The moving averages are layered positively.
2. The price action has managed to break above the downward sloping trend line.
3. The RSI is in gear with the move up.
4. The price action has breached the prior Swing High level 1.3250.
5. Both the daily and weekly time frames as positive and in gear.
6. A Head and Shoulders pattern failure on the Weekly time frame.
Alternative counter trend bearish factors:
1. The price action has rejected the Fibonacci resistance area.
2. The price action is trading beneath the 8 period moving averages.
Scenario 1
As the dominant daily trend is up retracements into support could be viewed as buying opportunities

Scenario 2
Alternatively one could possibly sell retracements at the 8 period moving averages with a view of trading down to Fibonacci support.


Daily Technical Analysis for GBPUSD as at 20th June 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -


gbp_zpsc8de1cac.gif


Comments
GBPUSD is this morning trading lower from the open after yesterdays strong down day. Today’s opening range is 68 pips which equates to a 53% of the daily average true range.

Yesterday GBPUSD continue it’s down move as it approaches the 34 period mobbing averages and Fibonacci support.

In terms of the bigger the swing bias remains positive.

The following factors are confirming or reinforcing this market bias:
1. The moving averages continue to be positively layered.
2. Both the daily and weekly time frames are positive and in gear.
3. The RSI is in gear with the move.
4. The price action has breached the prior Swing High level 1.5600.
Alternative counter trend bearish factors:
1. The price action has rejected the Fibonacci resistance area.
2. The price action is trading beneath the 8 period moving averages.
Scenario 1
As the dominant daily trend is up retracements into support could be viewed as buying opportunities

Scenario 2
Alternatively one could possibly sell retracements at the 8 period moving averages with a view of trading down to Fibonacci support.



Daily Technical Analysis for USDJPY as at 20th June 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -

jpy_zps05d75c0e.gif



Comments
USDJPY is this morning trading up from the open after yesterdays up day. Today’s opening range is 113 pips which equates to 57% of the daily average true range.

USDJPY yesterday traded opened above the 8 period moving averages. We are monitoring approaches to the resistance at the Fibonacci level and 34 period moving averages.

In terms of the bigger picture the swing bias is negative.

The following factors are confirming or reinforcing this market bias:
1. The price action has managed to break below the upward sloping trend line.
2. The RSI is in gear with the move up.
3. The moving averages are layered negatively.
4. Fibonacci resistance may offer down side pressure.
Alternative counter trend bullish factors:
1. The weekly time remains with a positive bias.
2. The 8 period moving averages could offer support to further upside to the next resistance levels.
Scenario 1
As the dominant daily trend is down retracements into resistance could be viewed as selling opportunities

Scenario 2
Alternatively USDJPY the Fibonacci resistance area could act as potential magnet for further upside.



Daily Technical Analysis for USDCHF as at 20th June 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -

chf_zps9e9f3f71.gif




Comments
USDCHF is this morning trading higher from the open after yesterdays up day. Today’s opening range is 66 pips which equates to 58% of the daily average true range.

USDCHF traded off the 0.9200 support level and has today opened above the 8 period moving averages.

In terms of the bigger picture the swing bias is negative.

The following factors are confirming or reinforcing this market bias:
1. The moving averages are negatively layered.
2. The RSI is in gear with the move.
Alternative counter trend bullish factors:
1. USDCHF is trading above the 8 period moving averages.
2. USDCHF is this morning holding at the 0.9200 level.
Scenario 1
As the dominant daily trend is down retracements to the 34 period moving averages and Fibonacci resistance could possibly offer selling opportunities.

Scenario 2
Alternatively if USDCHF could break above the 8 period moving averages there is a possibility of a broader correction in the direction of the 34 period moving averages.


Daily Technical Analysis for Gold as at 20th June 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : 1452.60 – 1525.85
Target 1 : 1321.75
Target 2 : 1308.08
Stop : 1590.20


gold_zps7313dd98.gif


Comments
Gold is this morning trading lower from the open after yesterdays down day. Today’s opening range is 295 pips which equates to 126% of the daily average true range

Gold this morning has broken down to the area just above of the low of 16th April. We are monitoring the possibility of further negativity.

In terms of the bigger picture the swing bias remains negative.

The following factors are confirming or reinforcing this market bias:
1. The moving averages are layered negatively.
2. The RSI is in gear with the price action.
3. The prior swing low has been breached.
4. The weekly bias has turned negative.
Alternative counter trend bullish factors:
1. There is still some distance between the current price and Fibonacci resistance which gives the price action some space to pull back further.
Scenario 1
As the dominant daily trend is down the retracement into the averages might possibly offer shorting opportunities at resistance.

Scenario 2
Alternatively there is a possibility that this current level holds to form a double bottom.


Daily Technical Analysis for Oil (WTI) as at 20th June 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -

oil_zps1c84269c.gif


Comments
Oil is this morning trading lower from the open after yesterday’s strong down day. Today’s opening range is 159 pips which equates to 93% of the daily average true range.

The inverse Head and Shoulders pattern continues to be validated but yesterdays strong down day and the continued and accelerated bearishness this morning has pushed Oil beneath the 8 period moving averages. We are monitoring the price action to see if support can hold at this level. However there is a fairly large weekly negative RSI divergence that has been noted as a potential drag against continued upside and see the price action slide down to Fibonacci support

In terms of the bigger picture the swing bias remains negative.

The following factors are confirming or reinforcing this market bias:
1. From a bullish perspective the price action has retraced and bounced off Fibonacci support.
2. An inverse Head and Shoulders pattern has broken to the upside.
3. The price action is trading well above the large monthly converging triangle.
4. The averages are positively crossed.
Alternative counter trend bearish factors:
1. The price action is extended from the averages.
2. A large negative RSI divergence is forming.
Scenario 1
As the dominant daily trend has changed to positive corrective pullbacks to the averages could offer buying opportunities with potential targets the 100 % and 138.2% Fibonacci Expansion level in the areas of 99.00 and 103.00 respectively. However the psychological 100.00 level will need to be broken for any further upside to continue.

Scenario 2
Alternatively as the price extended from the averages the price action may need to trade down to sideways before the up move continues.
 
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