Daily Technical Analysis from ACFX

[acfx]

Daily Technical Analysis from ACFX 25.07.2013

EUR/USD

Trend: Upwards
RSI: Above 50 and over brought
Bollinger Band: Positive

Risk Disclaimer:
Users of ACFX.COM website and BLOG and any affiliated website note the content of the above analysis or any other information within the website do not at any time provide financial advice. The information is based on historical analysis and for educational purposes only. We recommend readers not to make any investment decision of any sort on the basis of the information above unless prior professional consultation is sought. Trading may not be suitable for all users of this website. Trading CFDs and Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Investors should ensure they fully understand the risks associated with leveraged CFD and FX trading before deciding to trade. Investors should carefully evaluate whether their financial situation is appropriate for such transactions.

GBP/USD

Trend: Upwards
RSI: Above 50 and over brought
Bollinger Band: Ranging

Risk Disclaimer:
Users of ACFX.COM website and BLOG and any affiliated website note the content of the above analysis or any other information within the website do not at any time provide financial advice. The information is based on historical analysis and for educational purposes only. We recommend readers not to make any investment decision of any sort on the basis of the information above unless prior professional consultation is sought. Trading may not be suitable for all users of this website. Trading CFDs and Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Investors should ensure they fully understand the risks associated with leveraged CFD and FX trading before deciding to trade. Investors should carefully evaluate whether their financial situation is appropriate for such transactions.


USD/JPY

Trend: Upwards
RSI: Above 50 and over brought
Bollinger Band: Positive

Risk Disclaimer:
Users of ACFX.COM website and BLOG and any affiliated website note the content of the above analysis or any other information within the website do not at any time provide financial advice. The information is based on historical analysis and for educational purposes only. We recommend readers not to make any investment decision of any sort on the basis of the information above unless prior professional consultation is sought. Trading may not be suitable for all users of this website. Trading CFDs and Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Investors should ensure they fully understand the risks associated with leveraged CFD and FX trading before deciding to trade. Investors should carefully evaluate whether their financial situation is appropriate for such transactions.


USD/CHF

Trend: Down
RSI: Below 50 and oversold
Bollinger Band: Negative

Risk Disclaimer:
Users of ACFX.COM website and BLOG and any affiliated website note the content of the above analysis or any other information within the website do not at any time provide financial advice. The information is based on historical analysis and for educational purposes only. We recommend readers not to make any investment decision of any sort on the basis of the information above unless prior professional consultation is sought. Trading may not be suitable for all users of this website. Trading CFDs and Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Investors should ensure they fully understand the risks associated with leveraged CFD and FX trading before deciding to trade. Investors should carefully evaluate whether their financial situation is appropriate for such transactions.

 

[acfx]

Trend: UP
RSI: Above 50 and overbought
Bollinger Band: positive

Risk Disclaimer:
Users of ACFX.COM website and BLOG and any affiliated website note the content of the above analysis or any other information within the website do not at any time provide financial advice. The information is based on historical analysis and for educational purposes only. We recommend readers not to make any investment decision of any sort on the basis of the information above unless prior professional consultation is sought. Trading may not be suitable for all users of this website. Trading CFDs and Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Investors should ensure they fully understand the risks associated with leveraged CFD and FX trading before deciding to trade. Investors should carefully evaluate whether their financial situation is appropriate for such transactions.


Trend: Up
RSI: Above 50
Bollinger Band: Positive

Risk Disclaimer:
Users of ACFX.COM website and BLOG and any affiliated website note the content of the above analysis or any other information within the website do not at any time provide financial advice. The information is based on historical analysis and for educational purposes only. We recommend readers not to make any investment decision of any sort on the basis of the information above unless prior professional consultation is sought. Trading may not be suitable for all users of this website. Trading CFDs and Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Investors should ensure they fully understand the risks associated with leveraged CFD and FX trading before deciding to trade. Investors should carefully evaluate whether their financial situation is appropriate for such transactions.


Trend: Down
RSI: Below 50 and oversold
Bollinger Band: Negative

Risk Disclaimer:
Users of ACFX.COM website and BLOG and any affiliated website note the content of the above analysis or any other information within the website do not at any time provide financial advice. The information is based on historical analysis and for educational purposes only. We recommend readers not to make any investment decision of any sort on the basis of the information above unless prior professional consultation is sought. Trading may not be suitable for all users of this website. Trading CFDs and Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Investors should ensure they fully understand the risks associated with leveraged CFD and FX trading before deciding to trade. Investors should carefully evaluate whether their financial situation is appropriate for such
transactions.


Trend: Down
RSI: Below 50 and oversold
Bollinger Band: Negative

Risk Disclaimer:
Users of ACFX.COM website and BLOG and any affiliated website note the content of the above analysis or any other information within the website do not at any time provide financial advice. The information is based on historical analysis and for educational purposes only. We recommend readers not to make any investment decision of any sort on the basis of the information above unless prior professional consultation is sought. Trading may not be suitable for all users of this website. Trading CFDs and Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Investors should ensure they fully understand the risks associated with leveraged CFD and FX trading before deciding to trade. Investors should carefully evaluate whether their financial situation is appropriate for such transactions.

 

[acfx]

EURUSD

Pivots

R3 1.34452
R2 1.33951
R1 1.33653
Pivot Point 1.33152
S1 1.32854
S2 1.32253
S3 1.32055

Comments

Trend: Upwards
RSI: Above 50 and over brought
Bollinger Band: Positive

GBPUSD

Pivots

R3 1.59358
R2 1.57333
R1 1.56099
Pivot Point 1.54074
S1 1.52840
S2 1.50815
S3 1.49581


Comments

Trend: Upwards
RSI: Above 50 and over brought
Bollinger Band: Positive

USDCHF


Pivots

R3 0.93493
R2 0.93187
R1 0.92679
Pivot Point 0.92373
S1 0.91865
S2 0.91559
S3 0.91051

Comments

Trend: Down
RSI: Below 50 and oversold
Bollinger Band: Negative

USDJPY

Pivots

R3 98.795
R2 98.298
R1 97.314
Pivot Point 96.817
S1 95.833
S2 95.336
S3 94.352

Comments

Trend: Down
RSI: Below 50 and oversold
Bollinger Band: Negative

 

[acfx]

Quick Technical Analysis from ACFX 08/09/2013


EURUSD

Pivots

R3 1.34830
R2 1.34414
R1 1.34104
Pivot Point 1.33658
S1 1.33378
S2 1.32962
S3 1.32652

Comments

Trend: Upwards
RSI: Above 50 and over brought
Bollinger Band: Positive

GBPUSD

Pivots

R3 1.56692
R2 1.56214
R1 1.55793
Pivot Point 1.55315
S1 1.54894
S2 1.54416
S3 1.53995

Comments

Trend: Upwards
RSI: Above 50 and over brought
Bollinger Band: Positive

USDJPY

Pivots

R3 98.280
R2 97.603
R1 97.155
Pivot Point 96.478
S1 96.030
S2 95.253
S3 94.908

Comments

Trend: Down
RSI: Below 50 and oversold
Bollinger Band: Negative

USDCHF

Pivots

R3 0.92837
R2 0.92263
R1 0.92287
Pivot Point 0.92013
S1 0.91737
S2 0.91463
S3 0.91187

Comments

Trend: Down
RSI: Below 50 and oversold
Bollinger Band: Negative

 

[acfx]

Quick Technical Analysis from ACFX 08/12/2013

EURUSD


Pivots

R3 1.34329
R2 1.34114
R1 1.33751
Pivot Point 1.33536
S1 1.33173
S2 1.32958
S3 1.32595

Comments

Trend: Upwards
RSI: Above 50 and over brought
Bollinger Band: Positive




GBPUSD


Pivots

R3 1.56042
R2 1.55810
R1 1.55423
Pivot Point 1.55191
S1 1.54804
S2 1.54572
S3 1.54185


CommentsTrend: Upwards
RSI: Above 50 and over brought
Bollinger Band: Positive




USDJPY


Pivots

R3 97.598

R2 97.281
R1 96.753
Pivot Point 96.436
S1 95.908
S2 95.591
S3 95.063

CommentsTrend: Down
RSI: Below 50 and oversold
Bollinger Band: Negative




USDCHF


Pivots

R3 0.92755
R2 0.92523
R1 0.92368
Pivot Point 0.92136
S1 0.91981
S2 0.91749
S3 0.91594


Comments

Trend: Down
RSI: Below 50 and oversold
Bollinger Band: Negative

 

[acfx]

Daily Technical Analysis from ACFX 08/13/2013


Daily Technical Analysis for EURUSD as at 13th August 2013

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

Comments

EURUSD is this morning trading higher from the open after yesterdays down day.
Following the break of trend line resistance EURUSD traded lower off its highs and this move has continued back to the downward sloping trend line and the 8 period moving averages where support and buyers could potentially enter the market. However as the swing bias is still bearish we are monitoring the possibility of a move to the 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 swing bias is negative.
2. The price action is trading around the area of trend line resistance.
3. The RSI is confirming the move.
4. The weekly time frame is in gear with the daily time frame.

Alternative counter trend bullish factors:
1. The price action has retraced into the 8 period moving averages which could offer a buying opportunity.
2. The price action has broken and retraced to trend line resistance.
3. The averages have crossed positively.

Scenario 1
As the dominant daily trend is down retracements into resistance could be viewed as selling opportunities

Scenario 2
Alternatively as the price action is trading above the 8 period moving averages approaches back to this average could offer support and a buying area.

Daily Technical Analysis for GBPUSD as at 13th August 2013

DAILY OVERVIEW
Trend : Long
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -

Comments

GBPUSD is this morning trading lower from the open after yesterdays down day.

Following the breach of the prior swing high, the trend has turned positive. However further upward momentum is finding resistance on its approach to Fibonacci resistance. We are monitoring a potential move to the 8 period moving averages.

In terms of the bigger the swing bias is positive.

The following factors are confirming or reinforcing this market bias:

1. The swing bias has turned positive.
2. The price action is retracing to the positively layered averages which could offer a buying opportunity.
3. The averages have crossed positively.
4. The RSI is confirming the move.
5. The weekly time frame is in gear with the daily time frame.
6. The price action traded through the 1.5250 resistance level.

Alternative counter trend bearish factors:

1. The price action is extended from the averages.

Scenario 1
As the dominant daily trend is up retracements into support could be viewed as buying opportunities with the initial area of interest being the 8 period moving averages.

Scenario 2
Alternatively the price action extended from the averages could offer short term shorting opportunities.


Daily Technical Analysis for USDCHF as at 12th August 2013

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

Comments

USDCHF is this morning trading higher from the open after yesterdays up day

USDCHF has found support at the 0.9200 area and trend line support. This moving the positivity has continued with a move that has breached 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 swing bias remains negative.
2. The weekly time frame continues to have a negative bias.
3. The RSI is in gear with the move.
4. The averages are negatively layered.
Alternative counter trend bullish factors:

1. USDCHF has bounced off the 0.9200 level.
2. USDCHF has bounced of trend line support.

Scenario 1
As the dominant daily trend is down the 8 period moving averages may possibly offer shorting opportunities.

Scenario 2
Alternatively the current bounce off support could potentially move to the area of the 34 period moving averages.


Daily Technical Analysis for USDJPY as at 13th August 2013

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

Comments

USDJPY is this morning trading higher from the open after yesterdays up day.

USDJPY has experienced a strong bounce after a somewhat extended move down. The price action has this morning corrected to the 8 period moving averages. We are monitoring the potential for a negative rotation and return to the down trend at 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 swing bias remains negative.
2. The moving averages have crossed negatively.
3. The price action has broken below the significant 100 level.
4. The RSI is confirming the move.
5. The price action has managed to break below the upward sloping trend line.
6. Fibonacci resistance is offering down side pressure.
Alternative counter trend bullish factors:

1. The weekly time remains with a positive bias.
2. The price action is extended from the averages.

Scenario 1
As the dominant daily trend is down retracements into resistance could be viewed as selling opportunities

Scenario 2
Alternatively as the price action is extended from the averages there is the possibility of a corrective up move back to Fibonacci resistance and the 34 period moving averages.


Daily Technical Analysis for Gold as at 13th August 2013

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

Comments

Gold is this morning trading higher from the open after yesterdays up day.

Gold is trading above the positively layered averages as this metal attempts to print a higher low swing. However the price action continues to trade within the Fibonacci resistance area and would require a swing high breach to confirm a reversal to an upside bias.

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

The following factors are confirming or reinforcing this market bias:

1. The swing bias is negative.
2. The price action is trading above the averages which could be viewed as an overbought opportunity.
3. The weekly time frame continues to point down.
4. The price action is trading within the Fibonacci resistance zone.
5. The RSI is diverging negatively.

Alternative counter trend bullish factors:

1. The price action is attempting to print a higher low.
2. The moving averages are layered positively.
3. The price action is trading above the averages.
4. The price action is trading above the 1322 support level.

Scenario 1
As the dominant daily trend is down as Fibonacci resistance may offer a shorting opportunity.

Scenario 2
Alternatively retracements to the averages may potentially offer buying opportunities.


Daily Technical Analysis for Oil (WTI) as at 13th August 2013

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

Comments

Oil is this morning trading higher from the open after yesterdays up day.
Following Oils 8th August down spike that breached the prior swing low the price action has since bounced off the 34 and is now trading above the 8 period moving averages. Although the down spike has effectively turned the swing bias to negative the subsequent bullish reversal could indicate that break down was nothing more than a fake out. A breach of the prior swing high or swing low will confirm the bullish or bearish bias.

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

The following factors are confirming or reinforcing this market bias:

1. The swing bias is negative.

Alternative counter trend bullish factors:

1. The prior down spike has been reversed.
2. The price action is trading above the averages.
3. The averages are layered positively.
4. The price action is forming a possible corrective zigzag consolidation pattern.
5. The price action is trading above the large monthly converging triangle.
6. The weekly RSI diverging positively.

Scenario 1
As the dominant daily trend is down retracements to resistance areas could possibly be viewed as selling opportunities.

Scenario 2
Alternatively following the bounce off the 8th August down spike we are monitoring the possibility of a move to the 2nd August high.

 

[acfx]

Daily Technical Analysis from ACFX 08/14/2013

Daily Technical Analysis for EURUSD as at 14th August 2013


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

Comments

EURUSD is this morning trading unchanged from the open after yesterdays down day.
Yesterday EURUSD traded and closed under the downward sloping trend line and the 8 period moving averages. We are monitoring the price action to see if the 8 period moving average will now act as resistance that will eventually lead EURUSD lower and into the direction of the 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 swing bias is negative.
2. The price action has retraced and broken beneath the 8 period moving averages.
3. The price action is trading around the area of trend line resistance.
4. The RSI is confirming the move.
5. The weekly time frame is in gear with the daily time frame.

Alternative counter trend bullish factors:
1. The averages have crossed positively.

Scenario 1
As the dominant daily trend is down retracements into resistance could be viewed as selling opportunities

Scenario 2
Alternatively as the price action is trading above the 8 period moving averages approaches back to this average could offer support and a buying area.


Daily Technical Analysis for GBPUSD as at 14th August 2013

DAILY OVERVIEW
Trend : Long
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -

Comments

GBPUSD is this morning trading unchanged from the open after yesterdays down day.

Following the breach of the prior swing high, the trend has turned positive. However further upward momentum is finding resistance on its approach to Fibonacci resistance. We are monitoring a potential move to the 8 period moving averages which could possibly offer support to a further up swing.

In terms of the bigger the swing bias is positive.

The following factors are confirming or reinforcing this market bias:
1. The swing bias has turned positive.
2. The price action is retracing to the positively layered averages which could offer a buying opportunity.
3. The averages have crossed positively.
4. The RSI is confirming the move.
5. The weekly time frame is in gear with the daily time frame.
6. The price action traded through the 1.5250 resistance level.

Alternative counter trend bearish factors:
1. The moving averages are somewhat extended.

Scenario 1
As the dominant daily trend is up retracements into support could be viewed as buying opportunities with the initial area of interest being the 8 period moving averages.

Scenario 2
Alternatively the price action extended from the averages could offer short term shorting opportunities.



Daily Technical Analysis for USDCHF as at 14th August 2013

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

Comments

USDCHF is this morning trading higher from the open after yesterdays up day

The bounce off the 0.9200 area and trend line support has continued as USDCHF approaches the 34 period moving averages. We are monitoring the price action at these levels for any sign of negative rotation and resumption to the down trend.

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

The following factors are confirming or reinforcing this market bias:
1. The swing bias remains negative.
2. The weekly time frame continues to have a negative bias.
3. The RSI is in gear with the move.
4. The averages are negatively layered.

Alternative counter trend bullish factors:
1. USDCHF has bounced off the 0.9200 level.
2. USDCHF has bounced of trend line support.

Scenario 1
As the dominant daily trend is down the 8 period moving averages may possibly offer shorting opportunities.

Scenario 2
Alternatively the current bounce off support could potentially move to the area of the 34 period moving averages.



Daily Technical Analysis for USDJPY as at 14th August 2013

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

Comments

USDJPY is this morning trading higher from the open after yesterdays up day.

USDJPY has experienced a strong bounce after a somewhat extended move down. Yesterday USDJPY closed above the 8 period moving averages and this positivity has continued into the European open. We are monitoring the potential for a negative rotation and return to the down trend in and around the area of the 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 swing bias remains negative.
2. The moving averages have crossed negatively.
3. The price action has broken below the significant 100 level.
4. The RSI is confirming the move.
5. The price action has managed to break below the upward sloping trend line.
6. Fibonacci resistance is offering down side pressure.

Alternative counter trend bullish factors:
1. The weekly time remains with a positive bias.
2. The price action is trading above the 8 period moving averages.

Scenario 1
As the dominant daily trend is down retracements into resistance could be viewed as selling opportunities

Scenario 2
Alternatively as the price action is trading above the 8 period moving averages there is the possibility of a corrective up move back to Fibonacci resistance and the 34 period moving averages.


Daily Technical Analysis for Gold as at 14th August 2013

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

Comments
Gold is this morning trading unchanged from the open after yesterdays down day.

Gold is trading above the positively layered averages as this metal attempts to print a higher low swing. However the price action continues to trade within the Fibonacci resistance area and would require a swing high breach to confirm a reversal to an upside bias.

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

The following factors are confirming or reinforcing this market bias:
1. The swing bias is negative.
2. The price action is trading above the averages which could be viewed as an overbought opportunity.
3. The weekly time frame continues to point down.
4. The price action is trading within the Fibonacci resistance zone.
5. The RSI is diverging negatively.

Alternative counter trend bullish factors:
1. The price action is attempting to print a higher low.
2. The moving averages are layered positively.
3. The price action is trading above the averages.
4. The price action is trading above the 1322 support level.

Scenario 1
As the dominant daily trend is down as Fibonacci resistance may offer a shorting opportunity.

Scenario 2
Alternatively retracements to the averages may potentially offer buying opportunities.


Daily Technical Analysis for Oil (WTI) as at 14th August 2013

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

Comments

Oil is this morning trading unchanged from the open after yesterdays up day.
Following Oils 8th August down spike that breached the prior swing low the price action has since bounced off the 34 and is now trading above the 8 period moving averages. Although the down spike has effectively turned the swing bias to negative the subsequent bullish reversal could indicate that break down was nothing more than a fake out. A breach of the prior swing high or swing low will confirm the bullish or bearish bias.

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

The following factors are confirming or reinforcing this market bias:
1. The swing bias is negative.

Alternative counter trend bullish factors:
1. The prior down spike has been reversed.
2. The price action is trading above the averages.
3. The averages are layered positively.
4. The price action is forming a possible corrective zigzag consolidation pattern.
5. The price action is trading above the large monthly converging triangle.
6. The weekly RSI diverging positively.

Scenario 1
As the dominant daily trend is down retracements to resistance areas could possibly be viewed as selling opportunities.

Scenario 2
Alternatively following the bounce off the 8th August down spike we are monitoring the possibility of a move to the 2nd August high.

 

[acfx]

Daily Technical Analysis from ACFX 08/16/2013

Daily Technical Analysis for EURUSD as at 16th August 2013

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

Comments
EURUSD is this morning trading lower from the open after yesterdays up day.
Yesterday EURUSD experienced a positive day printing a bullish piercing line candle and in the process traded and closed above the downward sloping trend line and the 8 period moving averages. It would appear that EURUSD is attempting to print a higher swing low.

We are monitoring the price action to see if the 8 period moving average will now act as support that will eventually lead EURUSD higher and into the direction of the last isolated high of the 8th August.

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

The following factors are confirming or reinforcing this market bias:
1. The swing bias is negative.
2. The price action is trading around the area of trend line resistance.
3. The RSI is confirming the move.
4. The weekly time frame is in gear with the daily time frame.

Alternative counter trend bullish factors:
1. The averages have crossed positively.
2. The price action has broken above the 8 period moving averages.

Scenario 1
As the dominant daily trend is down retracements into resistance could be viewed as selling opportunities

Scenario 2
Alternatively as the price action is trading above the 8 period moving averages approaches back to this average could offer support and a buying area.


Daily Technical Analysis for GBPUSD as at 16th August 2013

DAILY OVERVIEW
Trend : Long
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -

Comments

GBPUSD is this morning trading lower from the open after yesterdays up day.

Yesterday GBPUSD experienced a strong up day and in the process printed a higher high and establishing a potential a potential higher low swing pivot. This price activity of course reinforces the prior change of trend to positive.

Following the 8 period moving averages acting as a buying area we continue to monitor further pullbacks to this area as possible support point.

In terms of the bigger the swing bias is positive.

The following factors are confirming or reinforcing this market bias:
1. The swing bias has turned positive.
2. The price action is retracing to the positively layered averages which could offer a buying opportunity.
3. The averages have crossed positively.
4. The RSI is confirming the move.
5. The weekly time frame is in gear with the daily time frame.
6. The price action traded through the 1.5250 resistance level.

Alternative counter trend bearish factors:
1. The moving averages are somewhat extended.

Scenario 1
As the dominant daily trend is up retracements into support could be viewed as buying opportunities with the initial area of interest being the 8 period moving averages.

Scenario 2
Alternatively the price action extended from the averages could offer short term shorting opportunities.



Daily Technical Analysis for USDCHF as at 16th August 2013

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

Comments

USDCHF is this morning trading higher from the open after yesterdays down day

Yesterday USDCHF found resistance at the 34 period moving averages. This area was highlighted in previous posts as an area of potential resistance.

We are monitoring the price action at these levels to see if the negativity continues. However there is a potential support hurdles to be overcome at the 0.9200 and the upward sloping trend line. A breach of the 8th August low will need to happen so as to reinforce the negative bias.

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

The following factors are confirming or reinforcing this market bias:
1. The swing bias remains negative.
2. The weekly time frame continues to have a negative bias.
3. The RSI is in gear with the move.
4. The averages are negatively layered.

Alternative counter trend bullish factors:
1. USDCHF has bounced off the 0.9200 level.
2. USDCHF has bounced of trend line support.

Scenario 1
As the dominant daily trend is down corrective pullback could possibly offer shorting opportunities.

Scenario 2
Alternatively support may potentially be found at the 8 period moving averages. This support could precede an extended move to the 34 period moving averages.



Daily Technical Analysis for USDJPY as at 16th August 2013

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

Comments

USDJPY is this morning trading higher from the open after down up day.

USDJPY yesterday traded up to the 34 period moving averages and as posted previously that it found strong resistance in this area was not a surprise.

We are monitoring the potential for further negative rotation and return to the down trend.

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

The following factors are confirming or reinforcing this market bias:
1. The swing bias remains negative.
2. The moving averages have crossed negatively.
3. The price action has broken below the significant 100 level.
4. The RSI is confirming the move.
5. The price action has managed to break below the upward sloping trend line.
6. Fibonacci resistance is offering down side pressure.

Alternative counter trend bullish factors:
1. The weekly time remains with a positive bias.
2. The price action is trading above the 8 period moving averages.

Scenario 1
As the dominant daily trend is down retracements into resistance could be viewed as selling opportunities

Scenario 2
Alternatively as the price action is trading above the 8 period moving averages there is the possibility of a corrective up move back to Fibonacci resistance and the 34 period moving averages.


Daily Technical Analysis for Gold as at 16th August 2013

DAILY OVERVIEW
Trend : Long
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -

Comments
Gold is this morning trading unchanged from the open after yesterdays up day.

Yesterday Gold breached the previous swing high and effectively changes the trend to positive by printing a bullish higher low and higher high sequence.

In terms of the bigger picture the swing bias has reversed to positive.

The following factors are confirming or reinforcing this market bias:
1. The swing bias is positive.
2. The price action has printed a higher low.
3. The moving averages are layered positively.
4. The price action is trading above the averages.
5. The price action is trading above the 1322 support level.
6. The RSI is in gear with the move.

Alternative counter trend bearish factors:
1. The weekly time frame continues to point down.
2. The price action is trading within the Fibonacci resistance zone.
3. The price action is extended from the averages.

Scenario 1
As the dominant daily trend is up corrective sideways to down movements could potentially be viewed as buying opportunities.

Scenario 2
Alternatively the price action is extended from the averages which could offer shorting opportunities.


Daily Technical Analysis for Oil (WTI) as at 16th August 2013

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

Comments
Oil is this morning trading higher from the open after yesterdays up day.
Following Oils 8th August down spike that breached the prior swing low the price action has since bounced off the 34 and is now trading above the 8 period moving averages. Although the down spike has effectively turned the swing bias to negative the subsequent bullish reversal could indicate that break down was nothing more than a fake out. A breach of the prior swing high or swing low will confirm the bullish or bearish bias.

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

The following factors are confirming or reinforcing this market bias:
1. The swing bias is negative.

Alternative counter trend bullish factors:
1. The prior down spike has been reversed.
2. The price action is trading above the averages.
3. The averages are layered positively.
4. The price action is forming a possible corrective zigzag consolidation pattern.
5. The price action is trading above the large monthly converging triangle.
6. The weekly RSI diverging positively.

Scenario 1
As the dominant daily trend is down retracements to resistance areas could possibly be viewed as selling opportunities.

Scenario 2
Alternatively following the bounce off the 8th August down spike we are monitoring the possibility of a move to the 2nd August high.

 

[acfx]

Daily Technical Analysis from ACFX 08/19/2013



Daily Technical Analysis for EURUSD as at 19th August 2013

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

Comments

EURUSD is this morning trading lower from the open after Fridays down day.
EURUSD has thus far been unable to breach the 8th August high. A breach of this swing point would effectively change the trend to long. However the price action continues to trade above both the 8 period moving averages and the downward sloping trend line which could offer a base of support for a further upswing.

We are monitoring the price action to see if the 8 period moving average will now act as support that will eventually lead EURUSD higher and into the direction of the last isolated high of the 8th August.

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

The following factors are confirming or reinforcing this market bias:
1. The swing bias is negative.
2. The price action is trading around the area of trend line resistance.
3. The RSI is confirming the move.
4. The weekly time frame is in gear with the daily time frame.

Alternative counter trend bullish factors:
1. The averages have crossed positively.
2. The price action has broken above the 8 period moving averages.

Scenario 1
As the dominant daily trend is down retracements into resistance could be viewed as selling opportunities

Scenario 2
Alternatively as the price action is trading above the 8 period moving averages approaches back to this average could offer support and a buying area.


Daily Technical Analysis for GBPUSD as at 19th August 2013

DAILY OVERVIEW

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

Comments

GBPUSD is this morning trading unchanged from the open after Fridays down day.

After Thursdays strong up day the subsequent trading sessions have been quiet with very narrow ranges.

We are monitoring pullbacks to the 8 period moving averages acting as a potential buying area.

In terms of the bigger the swing bias is positive.

The following factors are confirming or reinforcing this market bias:
1. The swing bias has turned positive.
2. The price action is retracing to the positively layered averages which could offer a buying opportunity.
3. The averages have crossed positively.
4. The RSI is confirming the move.
5. The weekly time frame is in gear with the daily time frame.
6. The price action traded through the 1.5250 resistance level.

Alternative counter trend bearish factors:
1. The moving averages are somewhat extended.

Scenario 1
As the dominant daily trend is up retracements into support could be viewed as buying opportunities with the initial area of interest being the 8 period moving averages.

Scenario 2
Alternatively the price action extended from the averages could offer short term shorting opportunities.

Daily Technical Analysis for USDCHF as at 19th August 2013

DAILY OVERVIEW

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

Comments

USDCHF is this morning trading higher from the open after Fridays up day

After trading down off the 34 period moving averages USDCHF has bounced off the 8 period moving averages. A failure to trade beneath the 8 period averages could potentially indicate that a move back to the 34 period moving average is possible.

We are monitoring the price action at these levels to see if the negativity continues. However there is a potential support hurdles to be overcome at the 0.9200 and the upward sloping trend line. A breach of the 8th August low will need to happen so as to reinforce the negative bias.

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

The following factors are confirming or reinforcing this market bias:
1. The swing bias remains negative.
2. The weekly time frame continues to have a negative bias.
3. The RSI is in gear with the move.
4. The averages are negatively layered.

Alternative counter trend bullish factors:
1. USDCHF has bounced off the 0.9200 level.
2. USDCHF has bounced of trend line support.

Scenario 1
As the dominant daily trend is down corrective pullback could possibly offer shorting opportunities.

Scenario 2
Alternatively support may potentially be found at the 8 period moving averages. This support could precede an extended move to the 34 period moving averages.


Daily Technical Analysis for USDJPY as at 19th August 2013

DAILY OVERVIEW

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

Comments

USDJPY is this morning trading higher from the open after Fridays up day.

After trading down USDJPY has found support at the 8 period moving averages. A failure to break this average could propel USDJPY back up to the Fibonacci resistance area.

We are monitoring the potential for further negative rotation and return to the down trend.

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

The following factors are confirming or reinforcing this market bias:
1. The swing bias remains negative.
2. The moving averages have crossed negatively.
3. The price action has broken below the significant 100 level.
4. The RSI is confirming the move.
5. The price action has managed to break below the upward sloping trend line.
6. Fibonacci resistance is offering down side pressure.

Alternative counter trend bullish factors:
1. The weekly time remains with a positive bias.
2. The price action is trading above the 8 period moving averages.

Scenario 1
As the dominant daily trend is down retracements into resistance could be viewed as selling opportunities

Scenario 2
Alternatively as the price action is trading above the 8 period moving averages there is the possibility of a corrective up move back to Fibonacci resistance and the 34 period moving averages.


Daily Technical Analysis for Gold as at 19th August 2013

DAILY OVERVIEW

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

Comments

Gold is this morning trading lower from the open after Fridays up day.

Gold continues to trade above the previous swing high and effectively changes the trend to positive by printing a bullish higher low and higher high sequence. However the price action is now becoming extended from the averages.

In terms of the bigger picture the swing bias has reversed to positive.

The following factors are confirming or reinforcing this market bias:
1. The swing bias is positive.
2. The price action has printed a higher low.
3. The moving averages are layered positively.
4. The price action is trading above the averages.
5. The price action is trading above the 1322 support level.
6. The RSI is in gear with the move.

Alternative counter trend bearish factors:
1. The weekly time frame continues to point down.
2. The price action is trading within the Fibonacci resistance zone.
3. The price action is extended from the averages.

Scenario 1
As the dominant daily trend is up corrective sideways to down movements could potentially be viewed as buying opportunities.

Scenario 2
Alternatively the price action is extended from the averages which could offer shorting opportunities.


Daily Technical Analysis for Oil (WTI) as at 19th August 2013

DAILY OVERVIEW

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

Comments

Oil is this morning trading lower from the open after Fridays up day.
Following Oils 8th August down spike that breached the prior swing low the price action has since bounced off the 34 and is now trading above the 8 period moving averages. Although the down spike has effectively turned the swing bias to negative the subsequent bullish reversal could indicate that break down was nothing more than a fake out. A breach of the prior swing high or swing low will confirm the bullish or bearish bias.

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

The following factors are confirming or reinforcing this market bias:
1. The swing bias is negative.

Alternative counter trend bullish factors:
1. The prior down spike has been reversed.
2. The price action is trading above the averages.
3. The averages are layered positively.
4. The price action is forming a possible corrective zigzag consolidation pattern.
5. The price action is trading above the large monthly converging triangle.
6. The weekly RSI diverging positively.

Scenario 1
As the dominant daily trend is down retracements to resistance areas could possibly be viewed as selling opportunities.

Scenario 2
Alternatively following the bounce off the 8th August down spike we are monitoring the possibility of a move to the 2nd August high.

 

[acfx]

Daily Technical Analysis from ACFX 08/21/2013


Daily Technical Analysis for EURUSD as at 21st August 2013

DAILY OVERVIEW
Trend : Long
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -

Comments
EURUSD is this morning trading unchanged from the open after yesterdays up day.
Following the bounce off the downward sloping trend line EURUSD found further support at the 8 period moving averages. This possibility was discussed in previous posts. The move off the averages yesterday was aggressive and had enough upward momentum to breach the prior swing high. This breach effectively changes the trend from short to long.

We continue to monitor the price action to see if the 8 period moving average will act as support.

In terms of the bigger picture the swing bias has changed to positive.

The following factors are confirming or reinforcing this market bias:
1. The swing bias is positive.
2. The price action has breached trend line resistance.
3. The RSI is confirming the move.
4. The weekly time frame is in gear with the daily time frame.
5. The averages have crossed positively.
6. The price action has broken above the 8 period moving averages.

Alternative counter trend bullish factors:
1. The averages are becoming extended which could lead to corrective down to sideways price action.

Scenario 1
As the dominant daily trend is up retracements into resistance could be viewed as buying opportunities

Scenario 2
Alternatively as the price action is trading above the 8 period moving averages there is potential for scalping and counter trend opportunities taken off intraday charts with the target being the 8 period moving averages.



Daily Technical Analysis for GBPUSD as at 21st August 2013

DAILY OVERVIEW

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

Comments

GBPUSD is this morning trading unchanged from the open after yesterdays up day.

Further to the subdued price action GBPUSD is trading within a very narrow 2 day range.

We are monitoring pullbacks to the 8 period moving averages acting as a potential buying area.

In terms of the bigger the swing bias is positive.

The following factors are confirming or reinforcing this market bias:
1. The swing bias has turned positive.
2. The price action is retracing to the positively layered averages which could offer a buying opportunity.
3. The averages have crossed positively.
4. The RSI is confirming the move.
5. The weekly time frame is in gear with the daily time frame.
6. The price action traded through the 1.5250 resistance level.

Alternative counter trend bearish factors:
1. The moving averages are somewhat extended.

Scenario 1
As the dominant daily trend is up retracements into support could be viewed as buying opportunities with the initial area of interest being the 8 period moving averages.

Scenario 2
Alternatively the price action extended from the averages could offer short term shorting opportunities.



Daily Technical Analysis for USDCHF as at 21st August 2013

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

Comments

USDCHF is this morning trading higher from the open after yesterdays down day

Further to the breach of the 8 period moving averages and the downward momentum has continued with further breaches of the 0.9200 support area and upward sloping trend line. This move has in the process also breached the prior swing low and has therefore reinforced the negative bias.

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

The following factors are confirming or reinforcing this market bias:
1. The swing bias remains negative.
2. The weekly time frame continues to have a negative bias.
3. The RSI is in gear with the move.
4. The averages are negatively layered.
5. The price action is trading beneath the averages.

Alternative counter trend bullish factors:
1. The price action is becoming extended from the averages.

Scenario 1
As the dominant daily trend is down corrective pullback could possibly offer shorting opportunities.

Scenario 2
Alternatively as the price action is trading below the 8 period moving averages there is potential for scalping and counter trend opportunities taken off intraday charts with the target being the 8 period moving averages.



Daily Technical Analysis for USDJPY as at 21st August 2013

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

Comments

USDJPY is this morning trading higher from the open after yesterdays down day.

This morning USDJPY is trading within 6 day range as it consolidates around the 8 period moving averages. A failure to break significantly below this average could propel USDJPY back up to the Fibonacci resistance area.

We are monitoring the potential for further negative rotation and return to the down trend.

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

The following factors are confirming or reinforcing this market bias:
1. The swing bias remains negative.
2. The moving averages have crossed negatively.
3. The price action has broken below the significant 100 level.
4. The RSI is confirming the move.
5. The price action has managed to break below the upward sloping trend line.
6. Fibonacci resistance is offering down side pressure.
Alternative counter trend bullish factors:
1. The weekly time remains with a positive bias.
2. The price action is trading above the 8 period moving averages.

Scenario 1
As the dominant daily trend is down retracements into resistance could be viewed as selling opportunities

Scenario 2
Alternatively as the price action is trading above the 8 period moving averages there is the possibility of a corrective up move back to Fibonacci resistance and the 34 period moving averages.



Daily Technical Analysis for Gold as at 21st August 2013

DAILY OVERVIEW

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

Comments

Gold is this morning trading lower from the open after yesterdays up day.

Gold continues to trade above the previous swing high and effectively changes the trend to positive by printing a bullish higher low and higher high sequence. However the price action is now becoming extended from the averages.

In terms of the bigger picture the swing bias has reversed to positive.

The following factors are confirming or reinforcing this market bias:
1. The swing bias is positive.
2. The price action has printed a higher low.
3. The moving averages are layered positively.
4. The price action is trading above the averages.
5. The price action is trading above the 1322 support level.
6. The RSI is in gear with the move.

Alternative counter trend bearish factors:
1. The weekly time frame continues to point down.
2. The price action is trading within the Fibonacci resistance zone.
3. The price action is extended from the averages.

Scenario 1
As the dominant daily trend is up corrective sideways to down movements could potentially be viewed as buying opportunities.

Scenario 2
Alternatively the price action is extended from the averages which could offer shorting opportunities.



Daily Technical Analysis for Oil (WTI) as at 21st August 2013

DAILY OVERVIEW

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

Comments
Oil is this morning trading lower from the open after yesterdays down day.
Following the down spike and lower low of the 8th August WTI has failed to print a higher high. In fact the current price action with Oil breaching and trading beneath the 34 period moving averages might indicate a lower high could be printed. A move beneath the prior swing low would confirm the bearish bias however a broader analysis of the price pattern being currently formed is that price action is potentially printing a bullish consolidation flag.

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

The following factors are confirming or reinforcing this market bias:
1. The swing bias is negative.

Alternative counter trend bullish factors:
1. The prior down spike has been reversed.
2. The price action is trading above the averages.
3. The averages are layered positively.
4. The price action is forming a possible corrective zigzag consolidation pattern.
5. The price action is trading above the large monthly converging triangle.
6. The weekly RSI diverging positively.

Scenario 1
As the dominant daily trend is down retracements to resistance areas could possibly be viewed as selling opportunities.

Scenario 2
Alternatively following the bounce off the 8th August down spike we are monitoring the possibility of a move to the 2nd August high.

 

[acfx]

Daily Technical Analysis from ACFX 08/22/2013

Daily Technical Analysis for EURUSD as at 22nd August 2013

DAILY OVERVIEW

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

Comments

EURUSD is this morning trading lower from the open after yesterdays down day.
The breach of the prior swing high continues to give EURUSD a positive bias however yesterdays price action failed to make further highs. Later into the session the price action traded down into the direction of the 8 period moving averages and this negativity has continued this morning which has seen the completion of the move to this average.

We continue to monitor the price action to see if the 8 period moving average will act as support.

In terms of the bigger picture the swing bias has changed to positive.

The following factors are confirming or reinforcing this market bias:
1. The swing bias is positive.
2. The price action has breached trend line resistance.
3. The RSI is confirming the move.
4. The weekly time frame is in gear with the daily time frame.
5. The averages have crossed positively.
6. The price action has broken above the 8 period moving averages.

Alternative counter trend bullish factors:
1. The averages are becoming extended which could lead to corrective down to sideways price action.

Scenario 1
As the dominant daily trend is up retracements into support could be viewed as buying opportunities

Scenario 2
Alternatively as the price action is trading above the 8 period moving averages there is potential for scalping and counter trend opportunities taken off intraday charts with the target being the 8 period moving averages.



Daily Technical Analysis for GBPUSD as at 22nd August 2013

DAILY OVERVIEW

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

Comments

GBPUSD is this morning trading unchanged from the open after yesterdays down day.

There has been a fairly active open to this morning’s session with GBPUSD trading down to the 8 period moving averages.

We are monitoring pullbacks to the 8 period moving averages acting as a potential buying area.

In terms of the bigger the swing bias is positive.

The following factors are confirming or reinforcing this market bias:
1. The swing bias has turned positive.
2. The price action is retracing to the positively layered averages which could offer a buying opportunity.
3. The averages have crossed positively.
4. The RSI is confirming the move.
5. The weekly time frame is in gear with the daily time frame.
6. The price action traded through the 1.5250 resistance level.

Alternative counter trend bearish factors:
1. The moving averages are somewhat extended.

Scenario 1
As the dominant daily trend is up retracements into support could be viewed as buying opportunities with the initial area of interest being the 8 period moving averages.

Scenario 2
Alternatively a sustain break of the 8 period moving averages could potentially see GBPUSD trade into the direction of the 34 period moving averages.



Daily Technical Analysis for USDCHF as at 22nd August 2013

DAILY OVERVIEW

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

Comments

USDCHF is this morning trading higher from the open after yesterdays up day

Following the breach of both trend line support and the 0.9200 area we have witnessed yesterday a strong bounce off these levels. We are monitoring the price action for any signs of increased upward momentum which could see USDCHF trade up to and breach the 8 period moving averages. The 8 period moving averages is also our initial area of interest where shorting opportunities may arise.

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

The following factors are confirming or reinforcing this market bias:
1. The swing bias remains negative.
2. The weekly time frame continues to have a negative bias.
3. The RSI is in gear with the move.
4. The averages are negatively layered.
5. The price action is trading beneath the averages.

Alternative counter trend bullish factors:
1. The price action is becoming extended from the averages.

Scenario 1
As the dominant daily trend is down corrective pullback could possibly offer shorting opportunities.

Scenario 2
Alternatively as the price action is trading below the 8 period moving averages there is potential for scalping and counter trend opportunities taken off intraday charts with the target being the 8 period moving averages.



Daily Technical Analysis for USDJPY as at 22nd August 2013

DAILY OVERVIEW

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

Comments

USDJPY is this morning trading higher from the open after yesterdays up day.

Although USDJPY continues to trade within a tight range we are this morning seeing a sustain push higher off the 8 period moving averages. We are monitoring a move up to the Fibonacci resistance area and 34 period moving averages where we will reassess the situation and look for potential reversal patterns and resumption of the down trend. However a sustain move higher could see a higher low printed on the weekly chart an more focus being given to the long side.

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

The following factors are confirming or reinforcing this market bias:
1. The swing bias remains negative.
2. The moving averages have crossed negatively.
3. The price action has broken below the significant 100 level.
4. The RSI is confirming the move.
5. The price action has managed to break below the upward sloping trend line.
6. Fibonacci resistance is offering down side pressure.

Alternative counter trend bullish factors:
1. The price action is trading above the 8 period moving averages.

Scenario 1
As the dominant daily trend is down retracements into resistance could be viewed as selling opportunities

Scenario 2
Alternatively as the price action is trading above the 8 period moving averages there is the possibility of a corrective up move back to Fibonacci resistance and the 34 period moving averages.



Daily Technical Analysis for Gold as at 22nd August 2013

DAILY OVERVIEW

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

Comments
Gold is this morning trading lower from the open after yesterdays down day.

Following the printing of a higher high and breach the previous swing high Gold is now effectively trending positively.

Subsequently Gold has corrected down to the 8 period moving averages which is not our initial area of interest where possible positive rotation and resumption of the uptrend could happen. However a sustain breach of this average could potential see Gold trade down to the 34 period moving averages.

In terms of the bigger picture the swing bias has reversed to positive.

The following factors are confirming or reinforcing this market bias:
1. The swing bias is positive.
2. The price action has printed a higher low.
3. The moving averages are layered positively.
4. The price action is trading above the averages.
5. The price action is trading above the 1322 support level.
6. The RSI is in gear with the move.

Alternative counter trend bearish factors:
1. The weekly time frame continues to point down.
2. The price action is trading within the Fibonacci resistance zone.

Scenario 1
As the dominant daily trend is up corrective sideways to down movements could potentially be viewed as buying opportunities.

Scenario 2
Alternatively a sustain breach of the 8 period moving averages could see Gold trade down to the 34 period moving averages.



Daily Technical Analysis for Oil (WTI) as at 22nd August 2013

DAILY OVERVIEW

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

Comments

Oil is this morning trading lower from the open after yesterdays down day.
Following the down spike and lower low of the 8th August WTI has failed to print a higher high. Furthermore the breach of the 34 period moving averages has been followed by a lower high being printed. A move beneath the prior swing low would confirm the bearish bias however a broader analysis of the price pattern being currently formed is that price action is potentially printing a bullish flag consolidation. A failure of the flag could potentially see Oil move to the Fibonacci support area.

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

The following factors are confirming or reinforcing this market bias:
1. The swing bias is negative.
2. Oil is trading beneath the averages.

Alternative counter trend bullish factors:
1. The prior down spike has been reversed.
2. The averages are layered positively.
3. The price action is forming a possible corrective zigzag consolidation pattern.
4. The price action is trading above the large monthly converging triangle.
5. The weekly RSI diverging positively.

Scenario 1
As the dominant daily trend is down retracements to resistance areas could possibly be viewed as selling opportunities.

Scenario 2
Alternatively following the bounce off the 8th August down spike we are monitoring the possibility of a move to the 2nd August high.

 

[acfx]

Daily Technical Analysis from ACFX 08/23/2013


Daily Technical Analysis for EURUSD as at 23rd August 2013

DAILY OVERVIEW

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

Comments

EURUSD is this morning trading lower from the open after yesterdays up day.
The breach of the prior swing high continues to give EURUSD a positive bias and this was confirmed yesterday by the bullish hammer that was printed whilst it traded around 8 periods moving averages support area.

We continue to monitor the price action to see if the 8 period moving average will act as support.

In terms of the bigger picture the swing bias has changed to positive.

The following factors are confirming or reinforcing this market bias:
1. The swing bias is positive.
2. The price action has breached trend line resistance.
3. The RSI is confirming the move.
4. The weekly time frame is in gear with the daily time frame.
5. The averages have crossed positively.
6. The price action has broken above the 8 period moving averages.
Alternative counter trend bullish factors:
1. The averages are becoming extended which could lead to corrective down to sideways price action.

Scenario 1
As the dominant daily trend is up retracements into support could be viewed as buying opportunities

Scenario 2
Alternatively if EURUSD can breach the 8 period moving averages the next target is the 34 period moving averages.



Daily Technical Analysis for GBPUSD as at 22nd August 2013

DAILY OVERVIEW

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

Comments

GBPUSD is this morning trading unchanged from the open after yesterdays down day.

Yesterday GBPUSD traded down to the area of the 8 period moving averages

As the swing bias remains positive we are monitoring pullbacks to the 8 period moving averages acting as a potential buying area.

In terms of the bigger the swing bias is positive.

The following factors are confirming or reinforcing this market bias:
1. The swing bias has turned positive.
2. The price action is retracing to the positively layered averages which could offer a buying opportunity.
3. The averages have crossed positively.
4. The RSI is confirming the move.
5. The weekly time frame is in gear with the daily time frame.
6. The price action traded through the 1.5250 resistance level.

Alternative counter trend bearish factors:
1. The moving averages are somewhat extended.

Scenario 1
As the dominant daily trend is up retracements into support could be viewed as buying opportunities with the initial area of interest being the 8 period moving averages.

Scenario 2
Alternatively a sustain break of the 8 period moving averages could potentially see GBPUSD trade into the direction of the 34 period moving averages.



Daily Technical Analysis for USDCHF as at 23rd August 2013

DAILY OVERVIEW

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

Comments

USDCHF is this morning trading higher from the open after yesterdays up day

Following the breach of both trend line support and the 0.9200 area we have witnessed a good bounce off these levels. We are monitoring the price action to see if USDCHF can make a sustained push above the 8 period moving averages. The 8 period moving averages is also our initial area of interest where shorting opportunities may arise.

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

The following factors are confirming or reinforcing this market bias:
1. The swing bias remains negative.
2. The weekly time frame continues to have a negative bias.
3. The RSI is in gear with the move.
4. The averages are negatively layered.
5. The price action is trading beneath the averages.

Alternative counter trend bullish factors:
1. The price action is becoming extended from the averages.

Scenario 1
As the dominant daily trend is down corrective pullback could possibly offer shorting opportunities.

Scenario 2
Alternatively if the price action can breach the 8 period moving averages then the next target is the 34 period moving averages.



Daily Technical Analysis for USDJPY as at 23rd August 2013

DAILY OVERVIEW

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

Comments

USDJPY is this morning trading higher from the open after yesterdays up day.

Yesterday USDJPY pushed higher as traded through the 34 period moving averages and in Fibonacci resistance.
We are monitoring this move up to the Fibonacci resistance area and 34 period moving averages where we will reassess the situation and look for potential reversal patterns and resumption of the down trend. However a sustained move higher could see a higher low printed on the weekly chart an more focus being given to the long side.

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

The following factors are confirming or reinforcing this market bias:
1. The swing bias remains negative.
2. The moving averages have crossed negatively.
3. The price action has broken below the significant 100 level.
4. The RSI is confirming the move.
5. The price action has managed to break below the upward sloping trend line.
6. Fibonacci resistance is offering down side pressure.

Alternative counter trend bullish factors:
1. The price action is trading above moving averages.

Scenario 1
As the dominant daily trend is down retracements into resistance could be viewed as selling opportunities

Scenario 2
Alternatively as the price action is trading above the 8 period moving averages there is the possibility of a corrective up move back to Fibonacci resistance and the 34 period moving averages.



Daily Technical Analysis for Gold as at 23rd August 2013

DAILY OVERVIEW

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

Comments
Gold is this morning trading unchanged from the open after yesterdays up day.

Following the printing of a higher high and breach the previous swing high Gold is now effectively trending positively.

Subsequently Gold has corrected down to the 8 period moving averages which is not our initial area of interest where possible positive rotation and resumption of the uptrend could happen. However a sustain breach of this average could potential see Gold trade down to the 34 period moving averages.

In terms of the bigger picture the swing bias has reversed to positive.

The following factors are confirming or reinforcing this market bias:
1. The swing bias is positive.
2. The price action has printed a higher low.
3. The moving averages are layered positively.
4. The price action is trading above the averages.
5. The price action is trading above the 1322 support level.
6. The RSI is in gear with the move.

Alternative counter trend bearish factors:
1. The weekly time frame continues to point down.
2. The price action is trading within the Fibonacci resistance zone.

Scenario 1
As the dominant daily trend is up corrective sideways to down movements could potentially be viewed as buying opportunities.

Scenario 2
Alternatively a sustain breach of the 8 period moving averages could see Gold trade down to the 34 period moving averages.



Daily Technical Analysis for Oil (WTI) as at 23rd August 2013

DAILY OVERVIEW

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

Comments
Oil is this morning trading lower from the open after yesterdays up day.
Following the down spike and lower low of the 8th August WTI has failed to print a higher high. Furthermore the breach of the 34 period moving averages has been followed by a lower high being printed. A move beneath the prior swing low would confirm the bearish bias however a broader analysis of the price pattern being currently formed is that price action is potentially printing a bullish flag consolidation. A failure of the flag could potentially see Oil move to the Fibonacci support area.

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

The following factors are confirming or reinforcing this market bias:
1. The swing bias is negative.
2. Oil is trading beneath the averages.

Alternative counter trend bullish factors:
1. The prior down spike has been reversed.
2. The averages are layered positively.
3. The price action is forming a possible corrective zigzag consolidation pattern.
4. The price action is trading above the large monthly converging triangle.
5. The weekly RSI diverging positively.

Scenario 1
As the dominant daily trend is down retracements to resistance areas could possibly be viewed as selling opportunities.

Scenario 2
Alternatively following the bounce off the 8th August down spike we are monitoring the possibility of a move to the 2nd August high.

 

[acfx]

Daily Technical Analysis from ACFX 08/26/2013


Daily Technical Analysis for EURUSD as at 26th August 2013

DAILY OVERVIEW

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

Comments

EURUSD is this morning trading lower from the open after Fridays up day.
The breach of the prior swing high continues to give EURUSD a positive bias.

We continue to monitor the price action to see if the 8 period moving average will act as support.

In terms of the bigger picture the swing bias has changed to positive.

The following factors are confirming or reinforcing this market bias:
1. The swing bias is positive.
2. The price action has breached trend line resistance.
3. The weekly time frame is in gear with the daily time frame.
4. The averages have crossed positively.
5. The price action has broken above the 8 period moving averages.

Alternative counter trend bullish factors:
1. The averages are becoming extended which could lead to corrective down to sideways price action.
2. The RSI is confirming is showing signs of negative divergence.

Scenario 1
As the dominant daily trend is up retracements into support could be viewed as buying opportunities

Scenario 2
Alternatively if EURUSD can breach the 8 period moving averages the next target is the 34 period moving averages.


Daily Technical Analysis for GBPUSD as at 26th August 2013

DAILY OVERVIEW

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

Comments

GBPUSD is this morning trading unchanged from the open after Fridays down day.

On Friday GBPUSD traded under the 8 period moving averages

As the swing bias remains positive we are monitoring this pullbacks to the averages acting as a potential buying area.

In terms of the bigger the swing bias is positive.

The following factors are confirming or reinforcing this market bias:
1. The swing bias has turned positive.
2. The price action is retracing to the positively layered averages which could offer a buying opportunity.
3. The averages have crossed positively.
4. The RSI is confirming the move.
5. The weekly time frame is in gear with the daily time frame.
6. The price action traded through the 1.5250 resistance level.

Alternative counter trend bearish factors:
1. The moving averages are somewhat extended.

Scenario 1
As the dominant daily trend is up retracements into support could be viewed as buying opportunities with the initial area of interest being the 8 period moving averages.

Scenario 2
Alternatively a sustain break of the 8 period moving averages could potentially see GBPUSD trade into the direction of the 34 period moving averages.



Daily Technical Analysis for USDCHF as at 26th August 2013

DAILY OVERVIEW

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

Comments

USDCHF is this morning trading higher from the open after Fridays down day

Following the breach of both trend line support and the 0.9200 area we have witnessed a good bounce off these levels. We are monitoring the price action to see if USDCHF can make a sustained push above the 8 period moving averages. The 8 period moving averages is also our initial area of interest where shorting opportunities may arise.

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

The following factors are confirming or reinforcing this market bias:
1. The swing bias remains negative.
2. The weekly time frame continues to have a negative bias.
3. The RSI is in gear with the move.
4. The averages are negatively layered.
5. The price action is trading beneath the averages.

Alternative counter trend bullish factors:
1. The price action is becoming extended from the averages.

Scenario 1
As the dominant daily trend is down corrective pullback could possibly offer shorting opportunities.

Scenario 2
Alternatively if the price action can breach the 8 period moving averages then the next target is the 34 period moving averages.


Daily Technical Analysis for USDJPY as at 26th August 2013

DAILY OVERVIEW

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

Comments

USDJPY is this morning trading unchanged from the open after Friday’s unchanged day.

On Friday USDJPY pushed higher as traded through the 34 period moving averages and in Fibonacci resistance.
However the price action failed to print a higher close.

We are monitoring this move up to the Fibonacci resistance area and 34 period moving averages where we will reassess the situation and look for potential reversal patterns and resumption of the down trend. However a sustained move higher could see a higher low printed on the weekly chart an more focus being given to the long side.

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

The following factors are confirming or reinforcing this market bias:
1. The swing bias remains negative.
2. The moving averages have crossed negatively.
3. The price action has broken below the significant 100 level.
4. The RSI is confirming the move.
5. The price action has managed to break below the upward sloping trend line.
6. Fibonacci resistance is offering down side pressure.

Alternative counter trend bullish factors:
1. The price action is trading above moving averages.

Scenario 1
As the dominant daily trend is down retracements into resistance could be viewed as selling opportunities

Scenario 2
Alternatively as the price action is trading above the 34 period moving averages there is the possibility of a corrective up move back to Fibonacci resistance.



Daily Technical Analysis for Gold as at 26th August 2013

DAILY OVERVIEW

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

Comments

Gold is this morning trading unchanged from the open after Fridays up day.

Following the printing of a higher high and breach the previous swing high Gold is now effectively trending positively.

Friday’s correction down to the 8 period moving averages was our initial area of interest where a resumption of the uptrend could happen. Gold did bounce with force from this level and printed a further higher high.

In terms of the bigger picture the swing bias has reversed to positive.

The following factors are confirming or reinforcing this market bias:
1. The swing bias is positive.
2. The price action has printed a higher low.
3. The moving averages are layered positively.
4. The price action is trading above the averages.
5. The price action is trading above the 1322 support level.
6. The RSI is in gear with the move.

Alternative counter trend bearish factors:
1. The weekly time frame continues to point down.
2. The price action is trading within the Fibonacci resistance zone.

Scenario 1
As the dominant daily trend is up corrective sideways to down movements could potentially be viewed as buying opportunities.

Scenario 2
Alternatively a sustain breach of the 8 period moving averages could see Gold trade down to the 34 period moving averages.



Daily Technical Analysis for Oil (WTI) as at 26th August 2013

DAILY OVERVIEW

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

Comments

Oil is this morning trading lower from the open after Fridays up day.
Following the down spike and lower low of the 8th August WTI has failed to print a higher high. Furthermore the breach of the 34 period moving averages has been followed by a lower high being printed. A move beneath the prior swing low would confirm the bearish bias however a broader analysis of the price pattern being currently formed is that price action is potentially printing a bullish flag consolidation. A failure of the flag could potentially see Oil move to the Fibonacci support area.

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

The following factors are confirming or reinforcing this market bias:
1. The swing bias is negative.

Alternative counter trend bullish factors:
1. Oil is trading above the averages.
2. The prior down spike has been reversed.
3. The averages are layered positively.
4. The price action is forming a possible corrective zigzag consolidation pattern.
5. The price action is trading above the large monthly converging triangle.
6. The weekly RSI diverging positively.

Scenario 1
As the dominant daily trend is down retracements to resistance areas could possibly be viewed as selling opportunities.

Scenario 2
Alternatively following the bounce off the 8th August down spike we are monitoring the possibility of a move to the 2nd August high.

 

[acfx]

Daily Technical Analysis from ACFX 08/27/2013

Daily Technical Analysis for EURUSD as at 27th August 2013

DAILY OVERVIEW

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

Comments

EURUSD is this morning trading lower from the open after yesterdays down day.
The price action this morning has opened and is trading within a 2 day range. The breach of the prior swing high continues to give EURUSD a positive bias.

We continue to monitor the price action to see if the 8 period moving average will act as support.

In terms of the bigger picture the swing bias has changed to positive.

The following factors are confirming or reinforcing this market bias:
1. The swing bias is positive.
2. The price action has breached trend line resistance.
3. The weekly time frame is in gear with the daily time frame.
4. The averages have crossed positively.
5. The price action has broken above the 8 period moving averages.

Alternative counter trend bullish factors:
1. The averages are becoming extended which could lead to corrective down to sideways price action.
2. The RSI is confirming is showing signs of negative divergence.

Scenario 1
As the dominant daily trend is up retracements into support could be viewed as buying opportunities

Scenario 2
Alternatively if EURUSD can breach the 8 period moving averages the next target is the 34 period moving averages.



Daily Technical Analysis for GBPUSD as at 27th August 2013

DAILY OVERVIEW

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

Comments

GBPUSD is this morning trading lower from the open after yesterdays up day.

GBPUSD continues to trade under the 8 period moving averages

As the swing bias remains positive we are monitoring this pullbacks to the averages acting as a potential buying area. However there is potential for a move to the 34 period moving averages.

In terms of the bigger the swing bias is positive.

The following factors are confirming or reinforcing this market bias:
1. The swing bias has turned positive.
2. The price action is retracing to the positively layered averages which could offer a buying opportunity.
3. The averages have crossed positively.
4. The RSI is confirming the move.
5. The weekly time frame is in gear with the daily time frame.
6. The price action traded through the 1.5250 resistance level.

Alternative counter trend bearish factors:
1. The moving averages are somewhat extended.

Scenario 1
As the dominant daily trend is up retracements into support could be viewed as buying opportunities with the initial area of interest being the 8 period moving averages.

Scenario 2
Alternatively a sustain break of the 8 period moving averages could potentially see GBPUSD trade into the direction of the 34 period moving averages.



Daily Technical Analysis for USDCHF as at 27th August 2013

DAILY OVERVIEW

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

Comments

USDCHF is this morning trading lower from the open after yesterdays up day

Following the breach of both trend line support and the 0.9200 area we have witnessed a good bounce off these levels. We are monitoring the price action to see if USDCHF can make a sustained push above the 8 period moving averages. The 8 period moving averages is also our initial area of interest where shorting opportunities may arise.

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

The following factors are confirming or reinforcing this market bias:
1. The swing bias remains negative.
2. The weekly time frame continues to have a negative bias.
3. The RSI is in gear with the move.
4. The averages are negatively layered.
5. The price action is trading beneath the averages.

Alternative counter trend bullish factors:
1. The price action is becoming extended from the averages.

Scenario 1
As the dominant daily trend is down corrective pullback could possibly offer shorting opportunities.

Scenario 2
Alternatively if the price action can breach the 8 period moving averages then the next target is the 34 period moving averages.



Daily Technical Analysis for USDJPY as at 27th August 2013

DAILY OVERVIEW

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

Comments

USDJPY is this morning trading lower from the open after yesterdays down day.

Yesterday USDJPY experience a quite day as the price action continues to be squeezed between the 8 and 34 period moving averages.

We are monitoring this move up to the Fibonacci resistance area and 34 period moving averages where we will reassess the situation and look for potential reversal patterns and resumption of the down trend. However a sustained move higher could see a higher low printed on the weekly chart with more focus being given to the long side.

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

The following factors are confirming or reinforcing this market bias:
1. The swing bias remains negative.
2. The moving averages have crossed negatively.
3. The price action has broken below the significant 100 level.
4. The RSI is confirming the move.
5. The price action has managed to break below the upward sloping trend line.
6. Fibonacci resistance is offering down side pressure.

Alternative counter trend bullish factors:
1. The price action is trading above moving averages.

Scenario 1
As the dominant daily trend is down retracements into resistance could be viewed as selling opportunities

Scenario 2
Alternatively as the price action is trading above the 34 period moving averages there is the possibility of a corrective up move back to Fibonacci resistance.



Daily Technical Analysis for Gold as at 27th August 2013

DAILY OVERVIEW

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

Comments

Gold is this morning trading unchanged from the open after yesterdays up day.

Following the printing of a higher high and breach the previous swing high Gold is now effectively trending positively.

Friday’s correction down to the 8 period moving averages was our initial area of interest where a resumption of the uptrend could happen. Gold did bounce with force from this level and printed a further higher high.

In terms of the bigger picture the swing bias has reversed to positive.

The following factors are confirming or reinforcing this market bias:
1. The swing bias is positive.
2. The price action has printed a higher low.
3. The moving averages are layered positively.
4. The price action is trading above the averages.
5. The price action is trading above the 1322 support level.
6. The RSI is in gear with the move.

Alternative counter trend bearish factors:
1. The weekly time frame continues to point down.
2. The price action is trading within the Fibonacci resistance zone.

Scenario 1
As the dominant daily trend is up corrective sideways to down movements could potentially be viewed as buying opportunities.

Scenario 2
Alternatively a sustain breach of the 8 period moving averages could see Gold trade down to the 34 period moving averages.




Daily Technical Analysis for Oil (WTI) as at 27th August 2013

DAILY OVERVIEW

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

Comments

Oil is this morning trading unchanged from the open after yesterdays down day.
Following the down spike and lower low of the 8th August WTI has failed to print a higher high. Furthermore the breach of the 34 period moving averages has been followed by a lower high being printed. A move beneath the prior swing low would confirm the bearish bias however a broader analysis of the price pattern being currently formed is that price action is potentially printing a bullish flag consolidation. A failure of the flag could potentially see Oil move to the Fibonacci support area.

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

The following factors are confirming or reinforcing this market bias:
1. The swing bias is negative.

Alternative counter trend bullish factors:
1. Oil is trading above the averages.
2. The prior down spike has been reversed.
3. The averages are layered positively.
4. The price action is forming a possible corrective zigzag consolidation pattern.
5. The price action is trading above the large monthly converging triangle.
6. The weekly RSI diverging positively.

Scenario 1
As the dominant daily trend is down retracements to resistance areas could possibly be viewed as selling opportunities.

Scenario 2
Alternatively following the bounce off the 8th August down spike we are monitoring the possibility of a move to the 2nd August high.

 

[acfx]

Daily Technical Analysis from ACFX 08/28/2013


Daily Technical Analysis for EURUSD as at 28th August 2013

DAILY OVERVIEW
Trend : Long
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -

Comments
EURUSD is this morning trading lower from the open after yesterdays up day.
The price action this morning has opened and is trading within a 3 day range. The breach of the prior swing high continues to give EURUSD a positive bias.

We continue to monitor the price action to see if the 8 period moving average will act as support.

In terms of the bigger picture the swing bias has changed to positive.

The following factors are confirming or reinforcing this market bias:
1. The swing bias is positive.
2. The price action has breached trend line resistance.
3. The weekly time frame is in gear with the daily time frame.
4. The averages have crossed positively.
5. The price action has broken above the 8 period moving averages.

Alternative counter trend bullish factors:
1. The averages are becoming extended which could lead to corrective down to sideways price action.
2. The RSI is confirming is showing signs of negative divergence.

Scenario 1
As the dominant daily trend is up retracements into support could be viewed as buying opportunities

Scenario 2
Alternatively if EURUSD can breach the 8 period moving averages the next target is the 34 period moving averages.



Daily Technical Analysis for GBPUSD as at 28th August 2013

DAILY OVERVIEW

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

Comments

GBPUSD is this morning trading lower from the open after yesterdays down day.

GBPUSD continues to trade under the 8 period moving averages

As the swing bias remains positive we are monitoring this pullbacks to the averages acting as a potential buying area. However there is potential for a move to the 34 period moving averages.

In terms of the bigger the swing bias is positive.

The following factors are confirming or reinforcing this market bias:
1. The swing bias has turned positive.
2. The price action is retracing to the positively layered averages which could offer a buying opportunity.
3. The averages have crossed positively.
4. The RSI is confirming the move.
5. The weekly time frame is in gear with the daily time frame.
6. The price action traded through the 1.5250 resistance level.

Alternative counter trend bearish factors:
1. The moving averages are somewhat extended.

Scenario 1
As the dominant daily trend is up retracements into support could be viewed as buying opportunities with the initial area of interest being the 8 period moving averages.

Scenario 2
Alternatively a sustain break of the 8 period moving averages could potentially see GBPUSD trade into the direction of the 34 period moving averages.



Daily Technical Analysis for USDCHF as at 28th August 2013

DAILY OVERVIEW

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

Comments

USDCHF is this morning trading higher from the open after yesterdays down day

Yesterday USDCHF broke down from the 8 period moving averages and broke beneath 0.9200 level and trend line support. We are monitoring a potential breach of the 20th August low.

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

The following factors are confirming or reinforcing this market bias:
1. The swing bias remains negative.
2. The weekly time frame continues to have a negative bias.
3. The RSI is in gear with the move.
4. The averages are negatively layered.
5. The price action is trading beneath the averages.

Alternative counter trend bullish factors:
1. The price action is becoming extended from the averages.

Scenario 1
As the dominant daily trend is down corrective pullback could possibly offer shorting opportunities.

Scenario 2
Alternatively if the price action cannot breach the 20th August low there is potential for a pullback to the 8 period moving averages.




Daily Technical Analysis for USDJPY as at 28th August 2013

DAILY OVERVIEW

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

Comments

USDJPY is this morning trading higher from the open after yesterdays down day.

Yesterday USDJPY down from the averages following what appears to be a corrective pull back. This move is in line with a rejection of Fibonacci resistance.

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

The following factors are confirming or reinforcing this market bias:
1. The swing bias remains negative.
2. The moving averages have crossed negatively.
3. The price action has broken below the significant 100 level.
4. The RSI is confirming the move.
5. The price action has managed to break below the upward sloping trend line.
6. Fibonacci resistance is offering down side pressure.
7. The price action is trading below the moving averages.

Alternative counter trend bullish factors:
1. The price action is extended from the averages.

Scenario 1
As the dominant daily trend is down retracements into resistance could be viewed as selling opportunities

Scenario 2
Alternatively as the price action is extended from the averages we may see a corrective up to sideways pullback.



Daily Technical Analysis for Gold as at 28th August 2013

DAILY OVERVIEW

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

Comments

Gold is this morning trading higher from the open after yesterdays up day.

Following the printing of a higher high and breach the previous swing high Gold is now effectively trending positively.

We continue monitor pullbacks to the 8 period moving averages as buying opportunities.

In terms of the bigger picture the swing bias has reversed to positive.

The following factors are confirming or reinforcing this market bias:
1. The swing bias is positive.
2. The price action has printed a higher low.
3. The moving averages are layered positively.
4. The price action is trading above the averages.
5. The price action is trading above the 1322 support level.
6. The RSI is in gear with the move.

Alternative counter trend bearish factors:
1. The weekly time frame continues to point down.
2. The price action is extended from the averages.

Scenario 1
As the dominant daily trend is up corrective sideways to down movements could potentially be viewed as buying opportunities.

Scenario 2
Alternatively as the price action is extended from the averages there is potential for taking counter trend shorts down to the averages.




Daily Technical Analysis for Oil (WTI) as at 28th August 2013

DAILY OVERVIEW

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

Comments
Oil is this morning trading higher from the open after yesterdays up day.
As posted previously although Oil printed a lower low and lower high bearish combination the broader analysis of the price pattern that was formed is that price action is potentially printing a bullish flag consolidation.

Following the 21st August potential higher low being printed Oil yesterday did reverse to the upside on a swing bases by trading above the previous pivot high. This upward momentum has continued this morning.

In terms of the bigger picture the swing bias has changed to positive.

The following factors are confirming or reinforcing this market bias:
1. The swing bias is positive.
2. Oil is trading above the averages.
3. The prior down spike has been reversed.
4. The averages are layered positively.
5. The price action is forming a possible corrective zigzag consolidation pattern.
6. The price action is trading above the large monthly converging triangle.
7. The weekly RSI diverging positively.

Alternative counter trend bearish factors:
1. The price action is extended from the averages.

Scenario 1
As the dominant daily trend is up retracements to resistance areas could possibly be viewed as buying opportunities.

Scenario 2
Alternatively as the price action is extended from the averages Oil may experience a down to sideways corrective pullback.

 

[acfx]

Daily Technical Analysis from ACFX 08/29/2013


Daily Technical Analysis for EURUSD as at 29th August 2013

DAILY OVERVIEW

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

Comments

EURUSD is this morning trading lower from the open after yesterdays down day.
This morning EURUSD broke down from the proceeding tight range is now touching the 34 period moving averages and trend line support.

We continue to monitor the price action to see if the 34 period moving average will act as support.

In terms of the bigger picture the swing bias has changed to positive.

The following factors are confirming or reinforcing this market bias:
1. The swing bias is positive.
2. The price action has breached trend line resistance.
3. The weekly time frame is in gear with the daily time frame.
4. The averages have crossed positively.
5. The price action has broken above the 8 period moving averages.

Alternative counter trend bullish factors:
1. The averages are becoming extended which could lead to corrective down to sideways price action.
2. The RSI is confirming is showing signs of negative divergence.

Scenario 1
As the dominant daily trend is up retracements into support could be viewed as buying opportunities

Scenario 2
Alternatively if EURUSD can breach the 34 period moving averages there is potential for an extended move to the previous swing low.



Daily Technical Analysis for GBPUSD as at 29th August 2013

DAILY OVERVIEW

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

Comments

GBPUSD is this morning trading lower from the open after yesterdays down day.

Yesterday GBPUSD broke lower only to find good support at the 3 period moving averages and in the process a bullish hammer candle was printed.

As the swing bias remains positive we are monitoring this pullbacks to the averages acting as a potential buying area. However there is potential for a move to the previous swing low.

In terms of the bigger the swing bias is positive.

The following factors are confirming or reinforcing this market bias:
1. The swing bias has turned positive.
2. The price action is retracing to the positively layered averages which could offer a buying opportunity.
3. The averages have crossed positively.
4. The RSI is confirming the move.
5. The weekly time frame is in gear with the daily time frame.
6. The price action traded through the 1.5250 resistance level.

Alternative counter trend bearish factors:
1. The moving averages are somewhat extended.

Scenario 1
As the dominant daily trend is up retracements into support could be viewed as buying opportunities with the next area of interest being the 34 period moving averages.

Scenario 2
Alternatively a sustain break of the 34 period moving averages could potentially see GBPUSD trade into the direction of the prior swing low.




Daily Technical Analysis for USDCHF as at 29th August 2013

DAILY OVERVIEW

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

Comments

USDCHF is this morning trading higher from the open after yesterdays up day

Following yesterday’s strong bounce off support the positivity has continued into the European session as USDCHF trades towards the 34 period moving averages.

It would appear that USDCHF is attempting to build a base prior to breaking higher. However on a swing bases the trend is down and a breach of the 20th August low would reconfirm this trend.

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

The following factors are confirming or reinforcing this market bias:
1. The swing bias remains negative.
2. The weekly time frame continues to have a negative bias.
3. The RSI is in gear with the move.
4. The averages are negatively layered.

Alternative counter trend bullish factors:
1. The price has corrected but there is potential for an extended move past the 34 period moving averages.
2. Support is holding.

Scenario 1
As the dominant daily trend is down corrective pullback could possibly offer shorting opportunities.

Scenario 2
Alternatively if the price action cannot breach the 20th August low there is potential for a pullback to the 34 period moving averages.



Daily Technical Analysis for USDJPY as at 29th August 2013

DAILY OVERVIEW

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

Comments

USDJPY is this morning trading higher from the open after yesterdays up day.

Yesterday USDJPY reversed off the lows and closed higher. This positive movement has continued into the European session with the price action moving back into the averages. Although Fibonacci resistance is a hurdle that needs to be overcome a move above the previous swing high will effectively change the trend to long. Furthermore with the development of what can be described as a large converging triangle, an upside break of this triangle could see USDJPY breaching the 100 level.

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

The following factors are confirming or reinforcing this market bias:
1. The swing bias remains negative.
2. The moving averages have crossed negatively.
3. The price action has broken below the significant 100 level.
4. The RSI is confirming the move.
5. The price action has managed to break below the upward sloping trend line.
6. Fibonacci resistance is offering down side pressure.
7. The price action is trading below the moving averages.

Alternative counter trend bullish factors:
1. The price action is attempting to print a higher low.

Scenario 1
As the dominant daily trend is down retracements into resistance could be viewed as selling opportunities

Scenario 2
Alternatively this corrective move could potentially change into a full trend reversal pattern if the price action can breach the previous swing high.




Daily Technical Analysis for Gold as at 29th August 2013

DAILY OVERVIEW

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

Comments
Gold is this morning trading lower from the open after yesterdays up day.

Following the printing of a higher high and breach the previous swing high Gold is now effectively trending positively. However following yesterday’s reversal day where a bearish shooting star candle was printed we are monitoring pullbacks to the 8 period moving averages as buying opportunities.

In terms of the bigger picture the swing bias has reversed to positive.

The following factors are confirming or reinforcing this market bias:
1. The swing bias is positive.
2. The price action has printed a higher low.
3. The moving averages are layered positively.
4. The price action is trading above the averages.
5. The price action is trading above the 1322 support level.
6. The RSI is in gear with the move.

Alternative counter trend bearish factors:
1. The weekly time frame continues to point down.
2. The price action is extended from the averages.

Scenario 1
As the dominant daily trend is up corrective sideways to down movements could potentially be viewed as buying opportunities.

Scenario 2
Alternatively as the price action is extended from the averages there is potential for taking counter trend shorts down to the averages.




Daily Technical Analysis for Oil (WTI) as at 29th August 2013

DAILY OVERVIEW

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

Comments

Oil is this morning trading lower from the open after yesterdays down day.
Following Tuesday’s powerful break out Oil yesterday experienced a reversal as a bearish shooting star candle was printed. As the price action continues to be extended from the averages it is not surprising that a corrective down to sideways pullback is happening. As long as the price action can hold above the 21st August low then the trend stays long.

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

The following factors are confirming or reinforcing this market bias:
1. The swing bias is positive.
2. Oil is trading above the averages.
3. The prior down spike has been reversed.
4. The averages are layered positively.
5. The price action is forming a possible corrective zigzag consolidation pattern.
6. The price action is trading above the large monthly converging triangle.
7. The weekly RSI diverging positively.

Alternative counter trend bearish factors:
1. The price action is extended from the averages.

Scenario 1
As the dominant daily trend is up retracements to resistance areas could possibly be viewed as buying opportunities.

Scenario 2
Alternatively as the price action is extended from the averages Oil may experience a down to sideways corrective pullback.

 

[acfx]

Daily Technical Analysis from ACFX 08/30/2013


Daily Technical Analysis for EURUSD as at 30th August 2013

DAILY OVERVIEW

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

Comments

EURUSD is this morning trading lower from the open after yesterdays down day.
Yesterday EURUSD continued to trade lower as it broke through the 34 period moving averages and trend line support. If the price action can breach the prior swing low then the swing bias will effectively change to down.

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

The following factors are confirming or reinforcing this market bias:
1. The swing bias is positive.
2. The price action has breached trend line resistance.
3. The weekly time frame is in gear with the daily time frame.
4. The averages have crossed positively.

Alternative counter trend bullish factors:
1. The price action has broken beneath the averages.
2. The RSI is showing signs of negative divergence.

Scenario 1
As the dominant daily trend is up retracements into support could be viewed as buying opportunities

Scenario 2
Alternatively as EURUSD has breached the 34 period moving averages there is potential for an extended move to the previous swing low.



Daily Technical Analysis for GBPUSD as at 30th August 2013

DAILY OVERVIEW

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

Comments

GBPUSD is this morning trading higher from the open after yesterdays down day.

GBPUSD continues to find support at the 34 period moving averages.

As the swing bias remains positive we are monitoring this pullbacks to the averages acting as a potential buying area. However there is possibility for a move to the previous swing low.

In terms of the bigger the swing bias is positive.

The following factors are confirming or reinforcing this market bias:
1. The swing bias has turned positive.
2. The price action is retracing to the positively layered averages which could offer a buying opportunity.
3. The averages have crossed positively.
4. The RSI is confirming the move.
5. The weekly time frame is in gear with the daily time frame.
6. The price action traded through the 1.5250 resistance level.

Alternative counter trend bearish factors:
1. GBPUSD has broken beneath the 8 period moving averages.

Scenario 1
As the dominant daily trend is up retracements into support could be viewed as buying opportunities with the next area of interest being the 34 period moving averages.

Scenario 2
Alternatively a sustain break of the 34 period moving averages could potentially see GBPUSD trade into the direction of the prior swing low.



Daily Technical Analysis for USDCHF as at 30th August 2013

DAILY OVERVIEW

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

Comments

USDCHF is this morning trading higher from the open after yesterdays up day

Following a strong bounce off support the positivity has continued as USDCHF traded through the 34 period moving averages.

It would appear that USDCHF is attempting to build a base prior to breaking higher. However on a swing bases the trend is down and a breach of the 20th August low would reconfirm this trend.

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

The following factors are confirming or reinforcing this market bias:
1. The swing bias remains negative.
2. The weekly time frame continues to have a negative bias.
3. The RSI is in gear with the move.
4. The averages are negatively layered.

Alternative counter trend bullish factors:
1. The price has corrected but there is potential for an extended move past the 34 period moving averages.
2. Support is holding.

Scenario 1
As the dominant daily trend is down corrective pullback could possibly offer shorting opportunities.

Scenario 2
Alternatively as there has been a breach of the 34 period moving averages there is potential for a move to prior swing high.




Daily Technical Analysis for USDJPY as at 30th August 2013

DAILY OVERVIEW

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

Comments

USDJPY is this morning trading lower from the open after yesterdays up day.

Following USDJPY reversal we are monitoring the price action to see if there will be a break down from the 34 period moving averages and trend line resistance.

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

The following factors are confirming or reinforcing this market bias:
1. The swing bias remains negative.
2. The moving averages have crossed negatively.
3. The price action has broken below the significant 100 level.
4. The RSI is confirming the move.
5. The price action has managed to break below the upward sloping trend line.
6. Fibonacci resistance is offering down side pressure.
7. The price action is trading below the moving averages.

Alternative counter trend bullish factors:
1. The price action is attempting to print a higher low.

Scenario 1
As the dominant daily trend is down retracements into resistance could be viewed as selling opportunities

Scenario 2
Alternatively this corrective move could potentially change into a full trend reversal pattern if the price action can breach the previous swing high.


Daily Technical Analysis for Gold as at 30th August 2013

DAILY OVERVIEW

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

Comments

Gold is this morning trading lower from the open after yesterdays down day.

This morning Gold has traded down to the 8 period moving averages which we are monitoring as a potential buying area.

In terms of the bigger picture the swing bias has reversed to positive.

The following factors are confirming or reinforcing this market bias:
1. The swing bias is positive.
2. The price action has printed a higher low.
3. The moving averages are layered positively.
4. The price action is trading above the averages.
5. The price action is trading above the 1322 support level.
6. The RSI is in gear with the move.

Alternative counter trend bearish factors:
1. The weekly time frame continues to point down.

Scenario 1
As the dominant daily trend is up corrective sideways to down movements could potentially be viewed as buying opportunities.

Scenario 2
Alternatively as the price action is extended from the averages there is potential for taking counter trend shorts down to the averages.



Daily Technical Analysis for Oil (WTI) as at 30th August 2013

DAILY OVERVIEW

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

Comments

Oil is this morning trading lower from the open after yesterdays down day.
This morning Oil traded down to the 8 period moving averages where support was found. We are monitoring the potential for a further upswing.

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

The following factors are confirming or reinforcing this market bias:
1. The swing bias is positive.
2. Oil is trading above the averages.
3. The prior down spike has been reversed.
4. The averages are layered positively.
5. The price action is forming a possible corrective zigzag consolidation pattern.
6. The price action is trading above the large monthly converging triangle.
7. The weekly RSI diverging positively.

Alternative counter trend bearish factors:
1. The weekly RSI diverging negatively.

Scenario 1
As the dominant daily trend is up retracements to resistance areas could possibly be viewed as buying opportunities.

Scenario 2
Alternatively as the price action is extended from the averages Oil may experience a down to sideways corrective pullback.

 

[acfx]

Daily Technical Analysis from ACFX 09/02/2013


Daily Technical Analysis for EURUSD as at 2nd September 2013

DAILY OVERVIEW

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

Comments

EURUSD is this morning trading lower from the open after Fridays down day.
Friday EURUSD continued to trade lower as it breached the previous pivot swing low. This breach effectively changes the trend from up to down. The price action is now trading under both the averages and trend line support. We are monitoring a potential negative cross of the averages which will confirm the new down trend. However the weekly time does continue to point up which could indicate that this change in the trend on the daily trend is nothing more than a strong corrective move.

In terms of the bigger picture the swing bias has changed to negative.

The following factors are confirming or reinforcing this market bias:
1. The swing bias is negative..
2. The price action has breached trend line support.
3. The price action has broken beneath the averages.
4. The RSI is showing signs of negative divergence.

Alternative counter trend bullish factors:
1. The weekly time frame is in gear with the daily time frame.
2. The averages have crossed positively.

Scenario 1
As the dominant daily trend is down retracements into resistance could be viewed as selling opportunities

Scenario 2
Alternatively as EURUSD is extended from the averages and therefore there is a possibility of a corrective up to sideways move.



Daily Technical Analysis for GBPUSD as at 2nd September 2013

DAILY OVERVIEW

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

Comments

GBPUSD is this morning trading higher from the open after Fridays down day.

GBPUSD is bouncing off the 34 period moving averages and is this morning trading above the 8 period moving averages.

In terms of the bigger the swing bias is positive.

The following factors are confirming or reinforcing this market bias:
1. The swing bias has turned positive.
2. The price action is bouncing off positively layered averages which could offer a buying opportunity.
3. The averages have crossed positively.
4. The RSI is confirming the move.
5. The weekly time frame is in gear with the daily time frame.
6. The price action traded through the 1.5250 resistance level.

Alternative counter trend bearish factors:
1. GBPUSD is approaching Fibonacci resistance.

Scenario 1
As the dominant daily trend is up retracements into support could be viewed as buying opportunities.

Scenario 2
Alternatively a sustain break of the 34 period moving averages could potentially see GBPUSD trade into the direction of the prior swing low.




Daily Technical Analysis for USDCHF as at 2nd September 2013

DAILY OVERVIEW

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

Comments

USDCHF is this morning trading higher from the open after Fridays up day

Following a strong bounce off support the positivity has continued as USDCHF traded through the 34 period moving averages.

It would appear that USDCHF is attempting to build a base prior to breaking higher. However on a swing bases the trend is down and a breach of the 20th August low would reconfirm this trend.

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

The following factors are confirming or reinforcing this market bias:
1. The swing bias remains negative.
2. The weekly time frame continues to have a negative bias.
3. The RSI is in gear with the move.
4. The averages are negatively layered.

Alternative counter trend bullish factors:
1. The price has corrected but there is potential for an extended move past the 34 period moving averages.
2. Support is holding.

Scenario 1
As the dominant daily trend is down corrective pullback could possibly offer shorting opportunities.

Scenario 2
Alternatively as there has been a breach of the 34 period moving averages there is potential for a move to prior swing high.



Daily Technical Analysis for USDJPY as at 2nd September 2013

DAILY OVERVIEW

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

Comments

USDJPY is this morning trading higher from the open after Fridays down day.

This morning USDJPY is attempting to breach the upper level of the converging triangle. A successful breach followed by a move above the previous swing high would effectively change the trend from down to up.

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

The following factors are confirming or reinforcing this market bias:
1. The swing bias remains negative.
2. The moving averages have crossed negatively.
3. The price action has broken below the significant 100 level.
4. The RSI is confirming the move.
5. The price action has managed to break below the upward sloping trend line.
6. Fibonacci resistance is offering down side pressure.
7. The price action is trading below the moving averages.

Alternative counter trend bullish factors:
1. The price action is attempting to print a higher low.
2. The price action is attempting to breach trend line converging triangle resistance.

Scenario 1
As the dominant daily trend is down retracements into resistance could be viewed as selling opportunities

Scenario 2
Alternatively this corrective move could potentially change into a full trend reversal pattern if the price action can breach the previous swing high.



Daily Technical Analysis for Gold as at 2nd September 2013

DAILY OVERVIEW

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

Comments

Gold is this morning trading unchanged from the open after Fridays down day.

This morning Gold has traded down to the 8 period moving averages which we are monitoring as a potential buying area.

In terms of the bigger picture the swing bias has reversed to positive.

The following factors are confirming or reinforcing this market bias:
1. The swing bias is positive.
2. The price action has printed a higher low.
3. The moving averages are layered positively.
4. The price action is trading above the averages.
5. The price action is trading above the 1322 support level.
6. The RSI is in gear with the move.

Alternative counter trend bearish factors:
1. The weekly time frame continues to point down.

Scenario 1
As the dominant daily trend is up corrective sideways to down movements could potentially be viewed as buying opportunities.

Scenario 2
Alternatively as the price action is extended from the averages there is potential for taking counter trend shorts down to the averages.



Daily Technical Analysis for Oil (WTI) as at 2nd September 2013

DAILY OVERVIEW

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

Comments

Oil is this morning trading lower from the open after Fridays down day.
This morning Oil traded down to the 34 period moving averages where support was found. We are monitoring the potential for a further upswing.

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

The following factors are confirming or reinforcing this market bias:
1. The swing bias is positive.
2. Oil is trading above the averages.
3. The prior down spike has been reversed.
4. The averages are layered positively.
5. The price action is forming a possible corrective zigzag consolidation pattern.
6. The price action is trading above the large monthly converging triangle.

Alternative counter trend bearish factors:
1. The weekly RSI diverging negatively.

Scenario 1
As the dominant daily trend is up retracements to resistance areas could possibly be viewed as buying opportunities.

Scenario 2
Alternatively as the price action is extended from the averages Oil may experience a down to sideways corrective pullback.

 

[acfx]

Daily Technical Analysis from ACFX 09/03/2013


Daily Technical Analysis for EURUSD as at 3rd September 2013

DAILY OVERVIEW

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

Comments

EURUSD is this morning trading lower from the open after Yesterdays down day.
This morning EURUSD continues to trade lower. With the swing bias having turned negative we are monitoring a potential negative cross of the averages which will confirm the new down trend. However the weekly time does continue to point up which could indicate that this change of daily trend is nothing more than a strong corrective move.

In terms of the bigger picture the swing bias has changed to negative.

The following factors are confirming or reinforcing this market bias:
1. The swing bias is negative..
2. The price action has breached trend line support.
3. The price action has broken beneath the averages.
4. The RSI is showing signs of negative divergence.

Alternative counter trend bullish factors:
1. The weekly time frame has a positive swing bias.
2. The averages have crossed positively.

Scenario 1
As the dominant daily trend is down retracements into resistance could be viewed as selling opportunities

Scenario 2
Alternatively as EURUSD is extended from the averages and therefore there is a possibility of a corrective up to sideways move.




Daily Technical Analysis for GBPUSD as at 3rd September 2013

DAILY OVERVIEW

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

Comments

GBPUSD is this morning trading unchanged from the open after yesterdays up day.

GBPUSD bounced off the 34 period moving averages and is this morning trading above the 8 period moving averages.

In terms of the bigger the swing bias is positive.

The following factors are confirming or reinforcing this market bias:
1. The swing bias has turned positive.
2. The price action is bouncing off positively layered averages which could offer a buying opportunity.
3. The averages have crossed positively.
4. The RSI is confirming the move.
5. The weekly time frame is in gear with the daily time frame.
6. The price action traded through the 1.5250 resistance level.

Alternative counter trend bearish factors:
1. GBPUSD is approaching Fibonacci resistance.

Scenario 1
As the dominant daily trend is up retracements into support could be viewed as buying opportunities.

Scenario 2
Alternatively a sustain break of the 34 period moving averages could potentially see GBPUSD trade into the direction of the prior swing low.



Daily Technical Analysis for USDCHF as at 3rd September 2013

DAILY OVERVIEW

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

Comments

USDCHF is this morning trading higher from the open after yesterdays up day

Following a strong bounce off support the positivity has continued as USDCHF traded through the 34 period moving averages.

It would appear that USDCHF is attempting to build a base prior to breaking higher. However on a swing bases the trend is down and a breach of the 20th August low would reconfirm this trend.

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

The following factors are confirming or reinforcing this market bias:
1. The swing bias remains negative.
2. The weekly time frame continues to have a negative bias.
3. The RSI is in gear with the move.
4. The averages are negatively layered.

Alternative counter trend bullish factors:
1. The price has corrected but there is potential for an extended move past the 34 period moving averages.
2. Support is holding.

Scenario 1
As the dominant daily trend is down corrective pullback could possibly offer shorting opportunities.

Scenario 2
Alternatively as there has been a breach of the 34 period moving averages there is potential for a move to prior swing high.



Daily Technical Analysis for USDJPY as at 3rd September 2013

DAILY OVERVIEW

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

Comments

USDJPY is this morning trading higher from the open after yesterdays up day.

Yesterday USDJPY breached the prior high following the upside break of the converging triangle. This move and the successful breach of the previous swing high has effectively change the trend from down to up.

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

The following factors are confirming or reinforcing this market bias:
1. The swing bias positive.
2. The price action has printed a higher low.
3. The price action has breached the upper trend line of a converging triangle.
4. The moving averages have crossed positively.
5. The price action is trading above the moving averages.
6. The RSI is confirming the move.

Alternative counter trend bearish factors:
1. The 100 level could offer a barrier to further upside movement.
2. Fibonacci resistance could offer down side pressure.

Scenario 1
As the dominant daily trend is up retracements into support could be viewed as buying opportunities

Scenario 2
Alternatively Fibonacci resistance could offer selling opportunities.



Daily Technical Analysis for Gold as at 3rd September 2013

DAILY OVERVIEW

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

Comments

Gold is this morning trading unchanged from the open after yesterday’s unchanged day.

Yesterday Gold attempted to trade lower only for support to come into the market and in the process led to a printing of a bullish hammer candle. We are monitoring the price action for further signs of positive rotation.

In terms of the bigger picture the swing bias has reversed to positive.

The following factors are confirming or reinforcing this market bias:
1. The swing bias is positive.
2. The price action has printed a higher low.
3. The moving averages are layered positively.
4. The price action is trading above the averages.
5. The price action is trading above the 1322 support level.
6. The RSI is in gear with the move.

Alternative counter trend bearish factors:
1. The weekly time frame continues to point down.

Scenario 1
As the dominant daily trend is up corrective sideways to down movements could potentially be viewed as buying opportunities.

Scenario 2
Alternatively as the price action is extended from the averages there is potential for taking counter trend shorts down to the averages.




Daily Technical Analysis for Oil (WTI) as at 3rd September 2013

DAILY OVERVIEW

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

Comments

Oil is this morning trading unchanged from the open after yesterday’s unchanged day.
Yesterday Oil attempted to trade lower only to reverse and print a bullish hammer candle. This morning Oil is hovering around the 34 period moving averages where support could be found. We are monitoring the potential for a further upswing.

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

The following factors are confirming or reinforcing this market bias:
1. The swing bias is positive.
2. Oil is trading above the averages.
3. The prior down spike has been reversed.
4. The averages are layered positively.
5. The price action is forming a possible corrective zigzag consolidation pattern.
6. The price action is trading above the large monthly converging triangle.

Alternative counter trend bearish factors:
1. The weekly RSI diverging negatively.

Scenario 1
As the dominant daily trend is up retracements to resistance areas could possibly be viewed as buying opportunities.

Scenario 2
Alternatively as the price action is extended from the averages Oil may experience a down to sideways corrective pullback.

 

[acfx]

Daily Technical Analysis from ACFX 09/04/2013

Daily Technical Analysis for EURUSD as at 4th September 2013

DAILY OVERVIEW

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

Comments
EURUSD is this morning trading lower from the open after Yesterdays down day.
This morning EURUSD continues to trade lower. The swing bias has turned negative and this has been confirmed by the averages also crossing negatively.

However the weekly time does continue to point up which could indicate that this change of daily trend is nothing more than a strong corrective move. Furthermore with the price action being extended from the averages yesterdays bullish hammer candle could be the first signs that the market is attempting to put in a base.

In terms of the bigger picture the swing bias has changed to negative.

The following factors are confirming or reinforcing this market bias:
1. The swing bias is negative..
2. The price action has breached trend line support.
3. The price action has broken beneath the averages.
4. The averages have crossed negatively.
5. The RSI is showing signs of negative divergence.

Alternative counter trend bullish factors:
1. The weekly time frame has a positive swing bias.

Scenario 1
As the dominant daily trend is down retracements into resistance could be viewed as selling opportunities

Scenario 2
Alternatively as EURUSD is extended from the averages and therefore there is a possibility of a corrective up to sideways move.



Daily Technical Analysis for GBPUSD as at 4th September 2013

DAILY OVERVIEW

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

Comments

GBPUSD is this morning trading higher from the open after yesterdays up day.

GBPUSD bounced off the 34 period moving averages and is this morning trading above the 8 period moving averages.

In terms of the bigger the swing bias is positive.

The following factors are confirming or reinforcing this market bias:
1. The swing bias has turned positive.
2. The price action is bouncing off positively layered averages which could offer a buying opportunity.
3. The averages have crossed positively.
4. The RSI is confirming the move.
5. The weekly time frame is in gear with the daily time frame.
6. The price action traded through the 1.5250 resistance level.

Alternative counter trend bearish factors:
1. GBPUSD is approaching Fibonacci resistance.

Scenario 1
As the dominant daily trend is up retracements into support could be viewed as buying opportunities.

Scenario 2
Alternatively a sustain break of the 34 period moving averages could potentially see GBPUSD trade into the direction of the prior swing low.



Daily Technical Analysis for USDCHF as at 4th September 2013

DAILY OVERVIEW

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

Comments

USDCHF is this morning trading higher from the open after yesterdays up day

USDCHF continues to trade higher with the averages attempting to cross positively. However on a swing bases the trend is down. A breach of the prior swing low would confirm the negative swing bias and a breach of the prior swing high would effectively change the trend to long.

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

The following factors are confirming or reinforcing this market bias:
1. The swing bias remains negative.
2. The weekly time frame continues to have a negative bias.
3. The RSI is in gear with the move.
4. The averages are negatively layered.

Alternative counter trend bullish factors:
1. The price has corrected but there is potential for an extended move past the 34 period moving averages.
2. Support is holding.

Scenario 1
As the dominant daily trend is down corrective pullback could possibly offer shorting opportunities.

Scenario 2
Alternatively as there has been a breach of the 34 period moving averages there is potential for a move to prior swing high.



Daily Technical Analysis for USDJPY as at 4th September 2013

DAILY OVERVIEW

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

Comments

USDJPY is this morning trading higher from the open after yesterdays up day.

USDJPY continues to act positively following the breach of the prior high the upside break of the converging triangle. This move and the successful breach of the previous swing high has effectively change the trend from down to up.

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

The following factors are confirming or reinforcing this market bias:
1. The swing bias positive.
2. The price action has printed a higher low.
3. The price action has breached the upper trend line of a converging triangle.
4. The moving averages have crossed positively.
5. The price action is trading above the moving averages.
6. The RSI is confirming the move.

Alternative counter trend bearish factors:
1. The 100 level could offer a barrier to further upside movement.
2. Fibonacci resistance could offer down side pressure.

Scenario 1
As the dominant daily trend is up retracements into support could be viewed as buying opportunities

Scenario 2
Alternatively Fibonacci resistance could offer selling opportunities.



Daily Technical Analysis for Gold as at 4th September 2013

DAILY OVERVIEW
Trend : Long
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -

Comments

Gold is this morning trading lower from the open after yesterdays up day.

Following the printing of the hammer candle Gold broke higher of the averages. We are monitoring the price action for a potential move to the prior swing high.

In terms of the bigger picture the swing bias has reversed to positive.

The following factors are confirming or reinforcing this market bias:
1. The swing bias is positive.
2. The price action has printed a higher low.
3. The moving averages are layered positively.
4. The price action is trading above the averages.
5. The price action is trading above the 1322 support level.
6. The RSI is in gear with the move.

Alternative counter trend bearish factors:
1. The weekly time frame continues to point down.

Scenario 1
As the dominant daily trend is up corrective sideways to down movements could potentially be viewed as buying opportunities.

Scenario 2
Alternatively as the price action is extended from the averages there is potential for taking counter trend shorts down to the averages.



Daily Technical Analysis for Oil (WTI) as at 4th September 2013

DAILY OVERVIEW

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

Comments

Oil is this morning trading lower from the open after yesterdays up day.
Yesterday Oil experienced a positive session as it bounced aggressively of the 34 period moving averages. We are monitoring a potential move to the prior swing high.

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

The following factors are confirming or reinforcing this market bias:
1. The swing bias is positive.
2. Oil is trading above the averages.
3. The prior down spike has been reversed.
4. The averages are layered positively.
5. The price action is forming a possible corrective zigzag consolidation pattern.
6. The price action is trading above the large monthly converging triangle.

Alternative counter trend bearish factors:
1. The weekly RSI diverging negatively.

Scenario 1
As the dominant daily trend is up retracements to resistance areas could possibly be viewed as buying opportunities.

Scenario 2
Alternatively trading this pair could offer short term scalping opportunities back to the averages.