Daily Technical Analysis from ACFX

[acfx]

Daily Technical Analysis from ACFX 11/21/2013

Daily Technical Analysis for EURUSD as at 21st November 2013

Yesterday’s summary
During yesterday’s session EURUSD initially traded higher. This move resulted in EURUSD printing a 1 hour swing pivot high with a range of some 45 pips. During the London morning session EURUSD tested and traded around the bottom of this range prior to breaking aggressively down in the New York session. EURUSD eventually found support late in the New York session slightly above the 1.3400 level.
Market open focus
Overnight EURUSD has traded within a 30 pip range above the 1.3400 level. The key morning levels to watch are 1.3410 and 1.3450.
The possible projected maximum daily ranges based upon current price action are 1.3350 to 1.3510.
Today’s scenarios
1. EURUSD is trading within a 30 pip early morning range. I am monitoring potential shorts below 1.3410 with a target of 1.3350. However the 1.3400 may offer additional support.

2. Alternatively a potential break above 1.3450 has an upside intraday target of 1.3510.
Macro trade Ideas
1. The breach of the 16th October prior isolated low has changed the daily trend on a swing basis from up to down. The move back up to the averages and previously broken trend line yesterday proved a good value area where shorts could be added. I am monitoring a continuation of the move down to the 7th November low at 1.3300 levels a prior daily swing low.

2. However the weekly time frame continues to be swing positive. Therefore there is a possibility that the down trend on the daily chart is nothing more than a corrective sell off that brings the price action into potential value areas where long term swing position buy trades could be executed. It should also be noted that EURUSD has traded into a large Fibonacci support area where price action stalled and bounced. With this in mind there is potential for a substantial upside move that could bring the daily trend back into line with the weekly trend. This scenario is valid as long as EURUSD can trade above the 1st September swing long which comes in around the 1.3100 area.
The Macro Technical Targets
The upside targets are 1.3470, 1.3530, 1.3650, and 1.3830. The downside targets are 1.3300, 1.3200, 1.3100 and 1.2750.

Daily Technical Analysis for GBPUSD as at 21st November 2013

Yesterday’s summary
Yesterday GBPUSD trade higher in the European / London session. This was in contrast to the 30 pip range consolidation during the Tokyo session. This positivity continued into the New York session before abruptly reversing off the highs and collapsing by some 90 pips.
Market open focus
The overnight price action has seen GBPUSD trade lower during the Tokyo session only for support to come into the market at the 1.6070 level which also corresponds to trend line and slightly above the 19th November low.
Key early morning levels to watch are 1.6070 and 1.6100.
The possible projected maximum daily ranges based upon current price action are 1.6010 to 1.6170.
Today’s scenarios
1. GBPUSD is trading within a 30 pip early morning range. I am monitoring potential shorts below 1.6070 with a target of 1.6010.

2. Alternatively a potential break above 1.6100 has an upside intraday target of 1.6170.
Macro trade ideas
1. Following the breach of the 16th October swing low the trend on a daily swing basis has changed from up to down. This move was preceded by multiple trend line breaks and the averages switching their bias from up to down. With the price action having also broken through Fibonacci support the down side is now very much in focus on the daily time frame. Conservative entry methods as a means to participate in the down move could be to wait for possible pullbacks to key value areas such as the 8 period moving averages and trend line resistance.
2. Alternatively as the weekly time frame continues to have a positive swing bias and with the price action on the daily time frame very much extended from the averages there is a possibility of a substantial upside correction.
Marco Technical Targets
1.6260, 1.6170, 1.5890, 1.5715, 1.5570, 1.5720
Daily Technical Analysis for USDCHF as at 21st November 2013

Yesterday’s summary
USDCHF yesterday traded initially lower during the Tokyo session. The move down was halted the 0.9078 level which corresponds with the 34 period moving averages. USDCHF consolidated off its lows in both the Tokyo and London sessions. This consolidation did not last long as USDCHF as the price action broke aggressively higher during the New York session. The upside breakout printed a high at 0.9192.

Market open focus
The high print at 0.9192 has once been followed by a consolidation at the highs and a 33 range. The key morning levels to watch are 0.9159 and 0.9192.
The possible projected maximum daily ranges based upon current price action are 0.9120 to 0.9230.

Today’s scenarios
1. USDCHF is trading within a 33 pip early morning range. I am monitoring potential shorts below 0.9159 with a target of 0.9120.

2. Alternatively a potential break above 0.9192 has an upside intraday target of 0.9230.
Macro trade ideas
1. On a basis swing bases the trend is now positive following the breach of the prior isolated high. The price action has broken higher since trading within positively layered moving averages and above trend line support after what has been a substantial downside correction. An upside break would have initial target of the 9th September swing high at 0.9455.
2. However the weekly time frame continues to point down. Therefore a sustained breach of the 8 period moving averages puts into play a potential move to the 34 period moving averages
Macro technical levels
The macro technical levels are 0.9020 0.8930, 0.8570 and 0.9200.

Daily Technical Analysis for USDJPY as at 21st November 2013

Yesterday’s summary
Yesterday USDJPY traded within the range of the previous day’s session’s in what was a 45 pip range. A swing pivot London session 1 hour low was printed at 99.77.
Market open focus
USDJPY broke higher off the previous day’s low early in the Tokyo session. This moved continued throughout the morning. This has resulted in USDJPY printing a high early in the London session. This move has taken out the 11th September 100.60 high.
The key morning levels to watch are 100.65 and 100.85.
The possible projected maximum daily ranges based upon current price action are 100.10 to 101.35.
Today’s scenarios
1. USDJPY is trading within a 20 pip early morning range. I am monitoring potential shorts below 100.65 with a target of 100.10.

2. Alternatively a potential break above 100.85 has an upside intraday target of 101.35.
Macro trade ideas
1. With USDJPY having breached the prior swing high of the 17th October has changed the trend on a swing bias to up. The change of the daily trend now puts the swing bias in line with the weekly trend. The breach of both the downward sloping trend line and significant 100 levels now puts in play potential moves 101.50 swing levels. The previous 100.60 target having been reached this morning.
2. Alternatively failure to sustain a move above the 100.60 level could possibly see USDJPY trade back to the prior broken converging triangle.

 

[acfx]

Daily Technical Analysis from ACFX 11/22/2013

Daily Technical Analysis for EURUSD as at 22nd November 2013

Yesterday’s summary
Yesterday initially EURUSD traded lower and marginally breached the 1.3400 level. This down move turned out to be the full extent of yesterday’s negativity as EURUSD reversed and broke higher from this level during the London session.
During the New York session EURUSD continued to trade higher and eventually close near the top of its daily range.
Market open focus
EURUSD has been trading within a 40 odd pip overnight and Tokyo session range being 1.3444 to 1.3486. Currently EURUSD is currently attempting to breach the top of this range.
The key intraday levels to watch are 1.3399, 1.3433, 1.3444, 1.3486, 1.3532, and 1.3578.
The possible projected maximum daily ranges based upon current price action are 1.3399 to 1.3510.
Today’s scenarios
1. EURUSD is trading within a 40 pip early morning range. I am monitoring potential shorts below 1.3444 with a target of 1.3399. However the 1.3433 may offer additional support.

2. Alternatively a potential break above 1.3486 has an upside intraday target of 1.3510.
Macro trade Ideas
1. The breach of the 16th October prior isolated low has changed the daily trend on a swing basis from up to down. The move back up to the averages and previously broken trend line has proved a good value area where shorts could be added. I am monitoring a continuation of the move down to the 7th November low at 1.3300 levels a prior daily swing low.

2. However the weekly time frame continues to be swing positive. Therefore there is a possibility that the down trend on the daily chart is nothing more than a corrective sell off that brings the price action into potential value areas where long term swing position buy trades could be executed. It should also be noted that EURUSD has traded into a large Fibonacci support area where price action stalled and bounced. With this in mind there is potential for a substantial upside move that could bring the daily trend back into line with the weekly trend. This scenario is valid as long as EURUSD can trade above the 1st September swing long which comes in around the 1.3100 area.
The Macro Technical Targets
The upside targets are 1.3470, 1.3530, 1.3650, and 1.3830. The downside targets are 1.3300, 1.3200, 1.3100 and 1.2750.
Daily Technical Analysis for GBPUSD as at 22nd November 2013

Yesterday’s summary
GBPUSD traded lower during the Tokyo session before it found support and reversed at the 1.6070 level. Off this low GBPUSD broke higher during the European / London session. The move higher continued into the New York session with the GBPUSD eventually closing at its highs and printing a large 130 pip daily range.
Market open focus
This morning’s Tokyo session range of 1.6174 and 1.6202 being some 27 pips is relatively small compared to the prior sessions. GBPUSD has already made one attempt this morning to trade above the high of this range.
The key intraday levels to watch are 1.6070, 1.6108, 1.6174, and 1.6202.
The possible projected maximum daily ranges based upon current price action are 1.6100 to 1.6275.
Today’s scenarios
1. GBPUSD is trading within a 27 pip early morning range. I am monitoring potential shorts below 1.6174 with a target of 1.6100.

2. Alternatively a potential break above 1.6202 has an upside intraday target of 1.6275.
Macro trade ideas
1. The breach of the 16th October swing low the trend on a daily swing basis has changed from up to down. However the breach of the 6th November minor swing high and the averages crossing positively does put a question mark with respect to the strength of this trend. Despite this and with GBPUSD now trading up to multi month trend line resistance may offer a potential opportunity for the price action to once again reverse to the down side.

2. Alternatively the weekly time frame continues to have a positive swing bias which could indicate that the daily chart negativity could be little more than a downside correction. A break above the 23rd October high would confirm this scenario.
Marco Technical Targets
1.6260, 1.6170, 1.5890, 1.5715, 1.5570, 1.5720
Daily Technical Analysis for USDCHF as at 22nd November 2013

Yesterday’s summary
USDCHF yesterday traded higher during Tokyo session prior to breaking lower at the London open. The New York session saw USDCHF consolidate within a tight 25 pip range prior to resuming the downward momentum in overnight trading.
Market open focus
This morning’s Tokyo has seen USDCHF trade with a tight 23 pip range. I am currently monitoring a breach of 0.9126 being the bottom of the range during the London session.
The key intraday levels to watch are 0.9078, 0.9112, 0.9159, and 0.9192.
The possible projected maximum daily ranges based upon current price action are 0.9078 to 0.9192.

Today’s scenarios
1. USDCHF is trading within a 23 pip early morning range. I am monitoring potential shorts below 0.9126 with a target of 0.9078.

2. Alternatively a potential break above 0.9150 has an upside intraday target of 0.9192.
Macro trade ideas
1. On a basis swing bases the trend is now positive following the breach of the prior isolated high. The price action has broken higher since trading within positively layered moving averages and above trend line support after what has been a substantial downside correction. An upside break would have initial target of the 9th September swing high at 0.9455.
2. However the weekly time frame continues to point down. Therefore a sustained breach of the 8 period moving averages puts into play a potential move to the 34 period moving averages
Macro technical levels
The macro technical levels are 0.9020 0.8930, 0.8570 and 0.9200.

Daily Technical Analysis for USDJPY as at 22nd November 2013

Yesterday’s summary
Yesterday USDJPY traded higher during the Tokyo session and this positivity continued in the London and New York sessions in what was a very large 115 pip daily range.
Market open focus
During this morning’s Tokyo session USDJPY has traded within a 35 pip range. I am currently monitoring an initial attempt break beneath 100.98 being the bottom of this range.
The key morning levels to watch are 99.59, 99.99, 100.98, and 101.35.
The possible projected maximum daily ranges based upon current price action are 100.60 to 101.70.
Today’s scenarios
1. USDJPY is trading within a 35 pip early morning range. I am monitoring potential shorts below 100.98 with a target of 100.60.

2. Alternatively a potential break above 101.35 has an upside intraday target of 101.70.
Macro trade ideas
1. With USDJPY having breached the prior swing high of the 17th October has changed the trend on a swing bias to up. The change of the daily trend now puts the swing bias in line with the weekly trend. The breach of both the downward sloping trend line and significant 100 levels now puts in play potential moves 101.50 swing levels. The previous 100.60 target having been reached.
2. Alternatively failure to sustain a move above the 100.60 level could possibly see USDJPY trade back to the prior broken converging triangle.

 

[acfx]

Daily Technical Analysis from ACFX 11/25/2013
Daily Technical Analysis for EURUSD as at 25th November 2013

Yesterday’s summary
Friday initially EURUSD traded lower during the Tokyo session. However this negativity was short lived as EURUSD reversed off its lows and broke higher into the London session. This move continued into the New York session and saw EURUSD close on a daily and weekly basis near to its highs.
Market open focus
This morning’s Toyo session has seen EURUSD correct some 25 pip lower from the session highs. We are monitoring the price action for signs of as continuation of this down move into the London session.
The key intraday levels to watch are 1.3398, 1.3442, 1.3460, 1.3475, 1.3536 and 1.3560.
The possible projected maximum daily ranges based upon current price action are 1.3460 to 1.3630.
Today’s scenarios
1. EURUSD is trading within a 25 pip early morning range. I am monitoring potential shorts below 1.3536 with a target of 1.3460.

2. Alternatively a potential break above 1.3560 has an upside intraday target of 1.3630.
Macro trade Ideas
1. The breach of the 16th October prior isolated low has changed the daily trend on a swing basis from up to down. The move back up to the averages and previously broken trend line has proved a good value area where shorts could be added. I am monitoring a continuation of the move down to the 7th November low at 1.3300 levels a prior daily swing low.

2. Alternatively the weekly time frame continues to be swing positive. Therefore there is a possibility that the down trend on the daily chart is nothing more than a corrective sell off that brings the price action into potential value areas where long term swing position buy trades could be executed. It should also be noted that EURUSD has traded into a large Fibonacci support area where price action stalled and bounced. With this in mind there is potential for a substantial upside move that could bring the daily trend back into line with the weekly trend. This scenario is valid as long as EURUSD can trade above the 1st September swing long which comes in around the 1.3100 area.
The Macro Technical Targets
The upside targets are 1.3470, 1.3530, 1.3650, and 1.3830. The downside targets are 1.3300, 1.3200, 1.3100 and 1.2750.
Daily Technical Analysis for GBPUSD as at 25th November 2013

Yesterday’s summary
Friday GBPUSD traded in a tight range during Tokyo trading before trading marginally higher during the London and New York sessions.
Market open focus
This morning has seen GBPUSD correct some 33 points lower off its opening Tokyo session morning high. I am monitoring the 1.6202 level as a possible area of support or if broken an indication that the downside correction will be extended into the London session.
The key intraday levels to watch are 1.6071, 1.6107, 1.6175, 1.6202 and1.6240.
The possible projected maximum daily ranges based upon current price action are 1.6140 to 1.6300.
Today’s scenarios
1. GBPUSD is trading within a 30 pip early morning range. I am monitoring potential shorts below 1.6202 with a target of 1.6140.

2. Alternatively a potential break above 1.6240 has an upside intraday target of 1.6300.
Macro trade ideas
1. The breach of the 16th October swing low has changed the trend on a daily swing basis from up to down. However both the breach of the 6th November minor swing high and the averages crossing positively does put a question mark on the strength of this trend. Despite this and with GBPUSD now trading up to multi month trend line resistance may offer a potential opportunity for the price action to once again reverse to the down side.

2. Alternatively the weekly time frame continues to have a positive swing bias which could indicate that the daily chart negativity could be little more than a downside correction. A break above the 23rd October high would confirm this scenario.
Marco Technical Targets
1.6260, 1.6170, 1.5890, 1.5715, 1.5570, 1.5720

Daily Technical Analysis for USDCHF as at 25th November 2013

Yesterday’s summary
Friday USDCHF initial traded lower during Tokyo session prior to breaking down. This down move continued and accelerated during the London and New York sessions.
Market open focus
USDCHF has bounced off the downward sloping trend line during this morning’s Tokyo session. I am monitoring the possibility for this bounce to continue during London trading
The key intraday levels to watch are 0.9060, 0.9089, 0.9150, 0.9159 and 0.9192.
The possible projected maximum daily ranges based upon current price action are 0.9020 to 0.9130.
Today’s scenarios
1. USDCHF is trading within a 30 pip early morning range. I am monitoring potential longs above 0.9089 with a target of 0.9130.

2. Alternatively a potential break below 0.9060 has a downside intraday target of 0.9020.
Macro trade ideas
1. On a basis swing bases the trend is now positive following the breach of the prior isolated high. However the price action has been struggling to extend a move away from the downside sloping trend line. Notwithstanding this as long USDCHF can trade above 0.8889 being the current isolated low then the potential for a substantial upside breakout is possibility.
2. However the weekly time frame continues to point down. Therefore a sustained breach of the 34 period moving averages puts into play a move to the 0.8889 isolated low areas.
Macro technical levels
The macro technical levels are 0.9020 0.8930, 0.8570 and 0.9200.

Daily Technical Analysis for USDJPY as at 25th November 2013

Yesterday’s summary
Friday USDJPY traded within a range of some 40 pips throughout the Tokyo, London and New York session.
Market open focus
In comparison to Friday’s small range USDJPY has broken higher and already traded an 80 pip range during this morning’s Tokyo session. This morning’s move has in the process taken out the 101.52 level being a prior swing high. I am monitoring the possibility that this positive market action continues into the London session.
The key intraday levels to watch are 99.54, 100.26, 100.95, 101.60, and 101.93.
The possible projected maximum daily ranges based upon current price action are 101.15 to 101.92.
Today’s scenarios
1. USDJPY has traded an 80 pip early morning break out. I am monitoring potential longs above 101.93. However as this morning’s move already equates to one daily average range further upside maybe limited.

2. Alternatively a potential break beneath 101.60 has a downside intraday target of 101.15.
Macro trade ideas
1. With USDJPY having breached the prior swing high of the 17th October has changed the trend on a swing bias to up. The change of the daily trend now puts the swing bias in line with the weekly trend. The breach of both the downward sloping trend line and significant 100 levels now puts in play potential moves 103.73 swing level which is also a major multi year high. The previous 101.52 target having been breached this morning.
2. Alternatively failure to sustain a move above the 101.52 level could possibly see USDJPY trade back to the prior broken converging triangle.

 

[acfx]

Daily Technical Analysis from ACFX 11/26/2013

Daily Technical Analysis for EURUSD as at 26th November 2013

Yesterday’s summary
Yesterday’s Tokyo session opened with an attempt to breach trend line resistance during the first hour of trading. However this attempt was quickly turned back which led to EURUSD trading moderately down. This trend continued through to the London and New York sessions in what was a relatively small 65 pip range day.
Market open focus
This morning’s EURUSD has opened slightly higher off yesterday’s low with the price action trading back up into a previous two day congestion area.
The key intraday levels to watch are 1.3398, 1.3442, 1.3535 and 1.3560.
The possible projected maximum daily ranges based upon current price action are 1.3445 to 1.3600.
Today’s scenarios
1. EURUSD is trading within a 26 pip early morning range. I am monitoring potential shorts below 1.3535 with a target of 1.3445.

2. Alternatively a potential break above 1.3560 has an upside intraday target of 1.3600.
Macro trade Ideas
1. The breach of the 16th October prior isolated low has changed the daily trend on a swing basis from up to down. The move back up to the averages and previously broken trend line has proved a good value area where shorts could be added. I am monitoring a continuation of the move down to the 7th November low at 1.3300 levels a prior daily swing low.

2. Alternatively the weekly time frame continues to be swing positive. Therefore there is a possibility that the down trend on the daily chart is nothing more than a corrective sell off that brings the price action into potential value areas where long term swing position buy trades could be executed. It should also be noted that EURUSD has traded into a large Fibonacci support area where price action stalled and bounced. With this in mind there is potential for a substantial upside move that could bring the daily trend back into line with the weekly trend. This scenario is valid as long as EURUSD can trade above the 1st September swing long which comes in around the 1.3100 area.
The Macro Technical Targets
The upside targets are 1.3470, 1.3530, 1.3650, and 1.3830. The downside targets are 1.3300, 1.3200, 1.3100 and 1.2750.

Daily Technical Analysis for GBPUSD as at 26th November 2013

Yesterday’s summary
Yesterday GBPUSD traded lower throughout the Tokyo, London and New York sessions. However support did come into the market above the 1.6130 level which led to the market forming a 25 pip congestion zone at trend line support.
Market open focus
This morning has seen GBPUSD within a 43 pip range during the Tokyo session. I am monitoring a potential upside break of this range during London early morning trading.
The key intraday levels to watch are 1.6071, 1.6107, 1.6132, 1.6175, 1.6202 and 1.6240.
The possible projected maximum daily ranges based upon current price action are 1.6090 to 1.6230.
Today’s scenarios
1. GBPUSD is trading within a 43 pip early morning range. I am monitoring potential shorts below 1.6132with a target of 1.6090.

2. Alternatively a potential break above 1.6175 has an upside intraday target of 1.6230.
Macro trade ideas
1. The breach of the 16th October swing low has changed the trend on a daily swing basis from up to down. However both the breach of the 6th November minor swing high and the averages crossing positively does put a question mark on the strength of this trend. Despite this and with GBPUSD now trading up to multi month trend line resistance may offer a potential opportunity for the price action to once again reverse to the down side.

2. Alternatively the weekly time frame continues to have a positive swing bias which could indicate that the daily chart negativity could be little more than a downside correction. A break above the 23rd October high would confirm this scenario.
Marco Technical Targets
1.6260, 1.6170, 1.5890, 1.5715, 1.5570, 1.5720
Daily Technical Analysis for USDCHF as at 26th November 2013

Yesterday’s summary
Yesterday saw USDCHF trade higher throughout the Tokyo, London and New York sessions with the price action closing near to its highs.
Market open focus
USDCHF has traded lower over the overnight and this morning’s Tokyo session. This price action has seen USDCHF break down from the previous days 24 pip area of congestion and into the previous sessions 0.9089 to 0.9060 area of support.
The key intraday levels to watch are 0.9060, 0.9089, 0.9107, 0.9131, 0.9137, 0.9150, 0.9159 and 0.9192.
The possible projected maximum daily ranges based upon current price action are 0.9050 to 0.9150.

Today’s scenarios
1. USDCHF has this morning traded down from the previous day’s high into the area of previous day’s support. I am monitoring a potential bounce off 0.9089.
2. Alternatively a potential break below 0.9060 has a downside intraday target of 0.9050.
Macro trade ideas
1. On a basis swing bases the trend is now positive following the breach of the prior isolated high. However the price action has been struggling to extend a move away from the downside sloping trend line. Notwithstanding this as long USDCHF can trade above 0.8889 being the current isolated low then the potential for a substantial upside breakout is possibility.
2. However the weekly time frame continues to point down. Therefore a sustained breach of the 34 period moving averages puts into play a move to the 0.8889 isolated low areas.
Macro technical levels
The macro technical levels are 0.9020 0.8930, 0.8570 and 0.9200.

Daily Technical Analysis for USDJPY as at 26th November 2013

Yesterday’s summary
Yesterday USDJPY traded aggressively higher during Tokyo session. However this upside momentum stalled as the price action approached the 102.00 level during the London and New York session.
Market open focus
The overnight and this morning’s Tokyo session have seen USDJPY experience a corrective pullback. I am monitoring the possibility that this negative market action continues into the London session.
The key intraday levels to watch are 99.54, 100.26, 100.95, 101.20, 101.60 and101.9.
The possible projected maximum daily ranges based upon current price action are 101.10 to 102.10.
Today’s scenarios
1. USDJPY is trading beneath yesterday’s high area of congestion. I am monitoring the potential for further downside under the 101.60 to 101.90 area with a target of 101.10

2. Alternatively a potential break above 101.90 has an intraday target of 102.10.
Macro trade ideas
1. With USDJPY having breached the prior swing high of the 17th October has changed the trend on a swing bias to up. The change of the daily trend now puts the swing bias in line with the weekly trend. The breach of both the downward sloping trend line and significant 100 levels now puts in play potential moves 103.73 swing level which is also a major multi year high. The previous 101.52 target having been breached this morning.
2. Alternatively as USDJPY is now becoming extended from its averages there is a possibility that USDJPY corrects down to these averages.

 

[acfx]

Daily Technical Analysis from ACFX 12/2/2013

Daily Technical Analysis for EURUSD as at 2nd December 2013

Yesterday’s summary
Friday EURUSD traded within a tight 25 pip range during the Tokyo and London sessions prior to taking a 19 pip leg lower during New York trading. EURUSD finally closed at the upward sloping trend line.
The technical reason for Friday’s small range can be seen by the price action being squeezed between forces of support and resistance.
Market open focus
This morning’s Tokyo session has seen EURUSD trade some 31 higher off Friday’s session low. With the price action now trading above the trend line, I am monitoring possible break outs of this morning range during London trading.
The key intraday levels to watch are: 1.3489, 1.3517, 1.3598, and 1.3622.
The possible projected maximum daily ranges based upon current price action are 1.3535 to 1.3655.
Today’s scenarios
1. EURUSD is trading within a 31 pip early morning range. I am monitoring potential shorts below 1.3598 with a target of 1.3535.

2. Alternatively a potential break above 1.3622 has an upside intraday target of 1.3655.
Macro trade Ideas
1. The breach of the 16th October prior isolated low has changed the daily trend on a swing basis from up to down. The move back up to the averages and previously broken trend line has proved a good value area where shorts could be added. I am monitoring a continuation of the move down to the 7th November low at 1.3300 levels being a prior daily swing low.

2. Alternatively the weekly time frame continues to be swing positive. Therefore there is a possibility that the down trend on the daily chart is nothing more than a corrective sell off that brings the price action into potential value areas where long term swing position buy trades could be executed. It should also be noted that EURUSD has traded into a large Fibonacci support area where price action stalled and bounced. With this in mind there is potential for a substantial upside move that could bring the daily trend back into line with the weekly trend. This scenario is valid as long as EURUSD can trade above the 1st September swing long which comes in around the 1.3100 area.
The Macro Technical Targets
The upside targets are 1.3470, 1.3530, 1.3650, and 1.3830. The downside targets are 1.3300, 1.3200, 1.3100 and 1.2750.

Daily Technical Analysis for GBPUSD as at 2nd December2013

Yesterday’s summary
Friday GBPUSD closed 27 pips higher in what was a fairly volatile trading day of that printed a 70 pip range
The technical reason behind Friday’s relatively volatile session could be put down to need for GBPUSD catch its breath prior to breaking higher. Furthermore with the price action trading up to the 1.6385 to 1.6400 area of prior resistance and if you add to this the Friday factor with traders not wishing to place bets and add exposure over the weekend gave GBPUSD an excuse of closing without making any decisive move through or bounce lower off the current overhead resistance area.
Market open focus
This morning’s Tokyo session has been relatively active with GBPUSD resuming its upward momentum and gaining some 90 pips from the Friday night low. I am monitoring a potential for further upside momentum into the London open.
The key intraday levels to watch are: 1.6132, 1.6174, 1.6367 and 1.6442.
The possible projected maximum daily ranges based upon current price action are 1.6345 to 1.6452.
Today’s scenarios
1. GBPUSD has traded a 70 pip range during the Tokyo session and added some 90 pips off Friday nights low. After such a strong open with GBPUSD effectively printing one daily range during Tokyo trading further upside maybe limited. Notwithstanding this I am monitoring potential for further upside above 1.6442.
2. Alternatively as the price action is now extended from its averages there potential for an intraday correction. I am monitoring an initial move down to 1.6367.
Macro trade ideas
1. The breach of the 23rd October swing high has changed the trend on a daily swing basis from down to up. This move has also taken out the prior high of the 1st October and multi month trend line resistance. With the price action in the daily time frame also being confirmed on the weekly time frame there is potential for a multi month move higher with an attempt at the 1.7045 level.
2. Alternatively the rising wedge formation if triggered could offer a powerful selling opportunity that takes GBPUSD back down to the 7th July low of 1.4810.
Marco Technical Targets
1.6260, 1.6170, 1.5890, 1.5715, 1.5570, 1.5720
Daily Technical Analysis for USDCHF as at 2nd December 2013

Yesterday’s summary
Friday’s price saw USDCHF trade in a 43 pip range in. The session was volatile session as USDCHD attempted to move lower prior to reversing and closing the day at its highs. The bounce came off support that is being offered by the downward sloping broken trend line with the price action trading within a bullish falling wedge pattern. A breaks up or down from will either validate or fail this pattern formation.
Market open focus
USDCHF is trading within a 20 pip opening range. I am monitoring for signs of increased activity during the London session.
The key intraday levels to watch are 0.9027, 0.9055, 0.9107 and 0.9131.
The possible projected maximum daily ranges based upon current price action are 0.9000 to 0.9100.

Today’s scenarios
1. USDCHF is trading with a very tight opening range. I am monitoring for potential breaks 0.9055 with a target of 0.9100.
2. Alternatively a failure to break above 0.9055 could see USDCHF potentially trade down to 0.9027 with further targets being 0.9000.
Macro trade ideas
1. On a basis swing bases the trend is now positive following the breach of the prior isolated high. However the price action has been struggling to extend a move away from the downside sloping trend line. Notwithstanding this as long USDCHF can trade above 0.8889 being the current isolated low then the potential for a substantial upside breakout is possibility.
2. However the weekly time frame continues to point down. Therefore a sustained breach of the 34 period moving averages puts into play a move to the 0.8889 isolated low areas.
Macro technical levels
The macro technical levels are 0.9020 0.8930, 0.8570 and 0.9200.
Daily Technical Analysis for USDJPY as at 2nd December 2013

Yesterday’s summary
Friday saw USDJPY closed near its open in what was a fairly volatile 50 pip daily range.
The technical reasons behind Friday’s inactivity could be put down to USDJPY stellar rise which has seen the price action become extended from the averages. I will continue to monitor the 101.00 as a support area with the next logical target being the 22nd May swing pivot high of 103.70. However a controlled correction should not be ruled out.
Market open focus
This morning’s trading has been volatile with USDJPY trading within a 36 pip range. The price action is currently trading at the high of its morning range. I will be monitoring the price action for further upside during this morning’s trading.
The key intraday levels to watch are 100.13, 101.35, 102.24 and 102.61.
The possible projected maximum daily ranges based upon current price action are 101.90 to 102.85.
Today’s scenarios
1. USDJPY has traded in a 36 pip opening range. I am monitoring the price action for breaches of 102.61 with a target of 102.85.

2. Alternatively there is potential break below 102.24 with a target of 101.90.
Macro trade ideas
1. With USDJPY having breached the prior swing high of the 17th October has changed the trend on a swing bias to up. The change of the daily trend now puts the swing bias in line with the weekly trend. The breach of both the downward sloping trend line and significant 100 levels now puts in play potential moves 103.73 swing level which is also a major multi year high. The previous 101.52 target having been breached this morning.
2. Alternatively as USDJPY is now becoming extended from its averages there is a possibility that USDJPY corrects down to these averages.

 

[acfx]

Daily Technical Analysis from ACFX 12/03/2013

Daily Technical Analysis for EURUSD as at 3rd December 2013

Yesterday’s summary
Yesterday’s trading saw EURUSD trade 55 lower in what was a 90 pip range day.
EURUSD continues to trade and close to the within a large expanding triangle and horizontal congestion range. Yesterdays down move coincided with EURUSD trading up into the previous 3 day’s session highs
Market open focus
This morning’s EURUSD has been trading within a 30 pip range. I am monitoring the price action as it trades with the 1.3557 to 1.3525 previous day’s range for an indication of possible market direction during today’s session.
The key intraday levels to watch are 1.3525 1.3557, 1.3598 and 1.3622.
The possible projected maximum daily ranges based upon current price action are 1.3485 to 1.3600.
Today’s scenarios
1. EURUSD is trading within a 30 pip early morning Tokyo range. I am monitoring potential shorts below 1.3525 with a target of 1.3485.

2. Alternatively a potential break above 1.3557 has an upside intraday target of 1.3600.
Macro trade Ideas
1. The breach of the 16th October prior isolated low has changed the daily trend on a swing basis from up to down. The move back up to the averages and previously broken trend line has proved a good value area where shorts could be added. I am monitoring a continuation of the move down to the 7th November low at 1.3300 levels being a prior daily swing low.

2. Alternatively the weekly time frame continues to be swing positive. Therefore there is a possibility that the down trend on the daily chart is nothing more than a corrective sell off that brings the price action into potential value areas where long term swing position buy trades could be executed. It should also be noted that EURUSD has traded into a large Fibonacci support area where price action stalled and bounced. With this in mind there is potential for a substantial upside move that could bring the daily trend back into line with the weekly trend. This scenario is valid as long as EURUSD can trade above the 1st September swing long which comes in around the 1.3100 area.
The Macro Technical Targets
The upside targets are 1.3470, 1.3530, 1.3650, and 1.3830. The downside targets are 1.3300, 1.3200, 1.3100 and 1.2750.

Daily Technical Analysis for GBPUSD as at 2nd December2013

Yesterday’s summary
Yesterday’s GBPUSD traded a 100 pip range which saw it close some 20 pips below its previous day’s close. It would appear the 1.6385 area is offering some resistance and with the price action extend from the averages is the possible technical reason for yesterdays sell off.
Market open focus
This morning’s open has been relatively busy with trading up by some 45 pips off this sessions low. This move has taken GBPUSD back into the 1.6373 to 1.6442 previous day’s trading range.
The key intraday levels to watch are 1.6132, 1.6174, 1.6373 and 1.6442.
The possible projected maximum daily ranges based upon current price action are 1.6300 to 1.6435.
Today’s scenarios
1. GBPUSD has traded back into the 1.6373 to 1.6442 previous day’s range. I am monitoring a potential up move to 1.6442.
2. Alternatively a cross back under 1.6373 could see GBPUSD trade back down to 1.6300.
Macro trade ideas
1. The breach of the 23rd October swing high has changed the trend on a daily swing basis from down to up. This move has also taken out the prior high of the 1st October and multi month trend line resistance. With the price action in the daily time frame also being confirmed on the weekly time frame there is potential for a multi month move higher with an attempt at the 1.7045 level.
2. Alternatively the rising wedge formation if triggered could offer a powerful selling opportunity that takes GBPUSD back down to the 7th July low of 1.4810.
Marco Technical Targets
1.6260, 1.6170, 1.5890, 1.5715, 1.5570, 1.5720
Daily Technical Analysis for USDCHF as at 3rd December 2013

Yesterday’s summary
Yesterday’s USDCHF traded a 67 pip range day as it closed 15 pips above the previous sessions high. Yesterday’s move came off a bounce off the downward sloping trend line as the price action has at the moving averages.
Market open focus
USDCHF has traded this morning within a 16 pip opening range. Today’s opening key price levels are 0.9110 to 0.9085. I am monitoring for breaks above or beneath this level.
The key intraday levels to watch are 0.9027, 0.9055, 0.9085 and 0.9110.
The possible projected maximum daily ranges based upon current price action are 0.9038 to 0.9135.

Today’s scenarios
1. USDCHF is trading with a very tight 16 pip opening range. I am monitoring for potential breaks 0.9110 with a target of 0.9135.

2. Alternatively a break beneath 0.9085 could see USDCHF potentially trade down to 0.9038.
Macro trade ideas
1. On a basis swing bases the trend is now positive following the breach of the prior isolated high. However the price action has been struggling to extend a move away from the downside sloping trend line. Notwithstanding this as long USDCHF can trade above 0.8889 being the current isolated low then the potential for a substantial upside breakout is possibility.
2. However the weekly time frame continues to point down. Therefore a sustained breach of the 34 period moving averages puts into play a move to the 0.8889 isolated low areas.
Macro technical levels
The macro technical levels are 0.9020 0.8930, 0.8570 and 0.9200.

Daily Technical Analysis for USDJPY as at 3rd December 2013

Yesterday’s summary
USDJPY yesterday’s trade some 35 pips lower off its open before reversing and trading higher by some 90 pips from that day’s low prior to selling off at the close by a marginal 21 pips. The move up could be viewed as an attempt to take out the 103.70 level which could happen during the course of this week’s trading. However the as the price action becomes extended from its averages a pull back is also possible.
Market open focus
This morning’s has seen USDJPY trade a 56 pip range. I am monitoring the 103.05 to 103.38 range.
The key intraday levels to watch are 100.13, 101.35, 103.05 and 103.38.
The possible projected maximum daily ranges based upon current price action are 102.70 to 103.70.

Today’s scenarios
1. This morning USDJPY traded within a 31 pip range. I am monitoring the price action for breaches of 103.38 with a target of 103.70.
2. Alternatively a breach of 103.05 could see USDJPY trade down to 102.70.
Macro trade ideas
1. With USDJPY having breached the prior swing high of the 17th October has changed the trend on a swing bias to up. The change of the daily trend now puts the swing bias in line with the weekly trend. The breach of both the downward sloping trend line and significant 100 levels now puts in play potential moves 103.73 swing level which is also a major multi year high. The previous 101.52 target having been breached this morning.
2. Alternatively as USDJPY is now becoming extended from its averages there is a possibility that USDJPY corrects down to these averages.

 

[acfx]

Daily Technical Analysis from ACFX 12/04/2013

Daily Technical Analysis for EURUSD as at 4th December 2013

Yesterday’s summary
Yesterday’s trading saw EURUSD end 50 odd pips higher from the previous day’s close whilst trading a ninety pip range.
The price action continues to have a negative daily swing bias whilst trading within a large expanding triangle and horizontal congestion range.

Focus on today
This morning’s EURUSD had been trading within a 15 pip range but has since broken down over the past two hours and is now trading 30 pips lower off its intraday high.

EURUSD is trading with the yesterday’s high range which is 1.3569, 1.3614. I am monitoring the potential for this trading range to hold with theprice action bouncing within these levels. Alternatively breaks above or beneath this range could offer potential trading opportunities in the direction of the break out or break down.

Macro trade Ideas
1. The breach of the 16th October prior isolated low has changed the daily trend on a swing basis from up to down. The move back up to the averages and previously broken trend line has proved a good value area where shorts could be added. I am monitoring a continuation of the move down to the 7th November low at 1.3300 levels being a prior daily swing low.

2. Alternatively the weekly time frame continues to be swing positive. Therefore there is a possibility that the down trend on the daily chart is nothing more than a corrective sell off that brings the price action into potential value areas where long term swing position buy trades could be executed. It should also be noted that EURUSD has traded into a large Fibonacci support area where price action stalled and bounced. With this in mind there is potential for a substantial upside move that could bring the daily trend back into line with the weekly trend. This scenario is valid as long as EURUSD can trade above the 1st September swing long which comes in around the 1.3100 area.

The Macro Technical Targets
The upside targets are 1.3470, 1.3530, 1.3650, and 1.3830. The downside targets are 1.3300, 1.3200, 1.3100 and 1.2750.


Daily Technical Analysis for GBPUSD as at 4th December2013

Yesterday’s summary
Yesterday’s trading saw GBPUSD close 34 pips higher from the previous day’s close whilst trading a 90 pip range.
The price action continues to have a positive daily swing bias whilst at major resistance of 1.6385.

Focus on today
This morning’s GBPUSD had been trading within a 20 pip range but has since broken down over the past hour and is now trading 25 pips lower off its intraday high.

GBPUSD is trading with the yesterday’s high range which is 1.6368 to 1.6442. I am monitoring the potential for this trading range to hold with the price action bouncing within these levels. Alternatively breaks above or beneath this range could offer potential trading opportunities in the direction of the break out or break down.

Macro trade ideas
1. The breach of the 23rd October swing high has changed the trend on a daily swing basis from down to up. This move has also taken out the prior high of the 1st October and multi month trend line resistance. With the price action in the daily time frame also being confirmed on the weekly time frame there is potential for a multi month move higher with an attempt at the 1.7045 level.

2. Alternatively the rising wedge formation if triggered could offer a powerful selling opportunity that takes GBPUSD back down to the 7th July low of 1.4810.

Marco Technical Targets
1.6260, 1.6170, 1.5890, 1.5715, 1.5570, 1.5720


Daily Technical Analysis for USDCHF as at 4th December 2013

Yesterday’s summary
Yesterday’s trading saw USDCHF close 41 pips lower from the previous day’s close whilst trading a 78 pip range.

The price action continues to have a positive daily swing bias whilst trading within a bullish flag formation.

Focus on today
This morning’s EURUSD had been trading within a 10 pip range but has since broken higher over the past 2 hours and is now trading 13 pips lower off its intraday low.

USDCHF is trading with the yesterday’s low range which is 0.9020 to 0.9059. I am monitoring the potential for this trading range to hold with the price action bouncing within these levels. Alternatively breaks above or beneath this range could offer potential trading opportunities in the direction of the break out or break down.

Macro trade ideas
1. On a basis swing bases the trend is now positive following the breach of the prior isolated high. However the price action has been struggling to extend a move away from the downside sloping trend line. Notwithstanding this as long USDCHF can trade above 0.8889 being the current isolated low then the potential for a substantial upside breakout is possibility.

2. However the weekly time frame continues to point down. Therefore a sustained breach of the 34 period moving averages puts into play a move to the 0.8889 isolated low areas.

Macro technical levels
The macro technical levels are 0.9020 0.8930, 0.8570 and 0.9200.


Daily Technical Analysis for USDJPY as at 4th December 2013

Yesterday’s summary
Yesterday’s trading saw USDJPY close 43 pips lower from the previous day’s close whilst trading a 140 pip range.
The price action continues to have a positive daily swing bias. The 103.70 level is still offering both a target and a strong resistance level to current market activity.

Focus on today
This morning’s USDJPY had been trading within a 42 pip range but has since broken up over the past two hours and is now trading 59 pips higher off its intraday low.

USDJPY is trading between the 100.13, 101.35 and 103.05, 103.38 intraday low to high ranges. I am currently monitoring the potential into the 103.05 to 103.38 resistance area. Alternatively a failure to break into this upper range could see USDJPY trade back down to the 103.13 to 103.35 support range.

Macro trade ideas
1. With USDJPY having breached the prior swing high of the 17th October has changed the trend on a swing bias to up. The change of the daily trend now puts the swing bias in line with the weekly trend. The breach of both the downward sloping trend line and significant 100 levels now puts in play potential moves 103.73 swing level which is also a major multi year high. The previous 101.52 target having been breached this morning.

2. Alternatively as USDJPY is now becoming extended from its averages there is a possibility that USDJPY corrects down to these averages.

 

[acfx]

Daily Technical Analysis from ACFX 12/05/2013

Daily Technical Analysis for EURUSD as at 5th December 2013

Yesterday’s summary
Yesterday’s trading saw EURUSD end the session slightly higher from its open whilst trading a 75 pip range.
The price action continues to have a negative daily swing bias whilst trading within a large expanding triangle and horizontal congestion range.

Focus on today
This morning’s EURUSD has broken higher in early trading. EURUSD is now trading above the highs of the previous 6 trading sessions and is currently trading 40 pips above its intraday low and printed a large 60 pip daily range.
AS EURUSD is trading within today’s high range which is 1.3600 to 1.3640, I am monitoring the potential for this trading range to hold with the price action bouncing within these levels. Alternatively breaks above or beneath this range could offer potential trading opportunities in the direction of the break out or break down.

Key intraday levels:
EURUSD: 1.3523 1.3557, 1.3600, 1.3640.




Daily Technical Analysis for GBPUSD as at 55h December2013

Yesterday’s summary
Yesterday’s trading saw GBPUSD end the session slightly lower from its open whilst trading an 83 pip range.
The price action continues to have a positive daily swing bias and is currently trading around the 1.6400 area which appears to be a major resistance level.

Focus on today
This morning’s GBPUSD had been trading within a 12 pip range but has since broken higher over the past hour and is now trading 33 pips off its intraday low.
As GBPUSD is trading within the yesterday’s high range which is 1.6368 to 1.6442. I am monitoring the potential for this trading range to hold with the price action bouncing within these levels.
Alternatively breaks above or beneath this range could offer potential trading opportunities in the direction of the break out or break down.

Key intraday levels:
GBPUSD: 1.6132, 1.6174, 1.6368, 1.6442.




Daily Technical Analysis for USDCHF as at 5th December 2013

Yesterday’s summary
Yesterday’s trading saw USDCHF close 21 pips lower from that day’s open whilst trading a 64 pip range.

The price action continues to have a positive daily swing bias whilst trading within a bullish flag formation.

Focus on today
This morning’s USDCHF had been trading within a 7 pip range but has since broken down over the past 4 hours and is now trading 15 pips lower off its intraday high.

As USDCHF is trading within the today’s low range which is 0.9010 to 0.8983, I am monitoring the potential for this trading range to hold with the price action bouncing within these levels. Alternatively breaks above or beneath this range could offer potential trading opportunities in the direction of the break out or break down.

Key intraday levels:
USDCHF: 0.8983, 0.9010, 0.9084, 0.9110.




Daily Technical Analysis for USDJPY as at 5th December 2013

Yesterday’s summary
Yesterday’s trading saw USDJPY close 18 pips lower from the previous day’s open whilst trading a 102 pip range.
The price action continues to have a positive daily swing bias. The 103.70 level is still offering both a target and a strong resistance level to current market activity.

Focus on today
This morning’s USDJPY had been trading within a 26 pip range but has since broken down over the past three hours and is now trading 58 pips lower off its intraday high.
USDJPY is trading between the 101.13, 101.35 and 103.05, 103.38 intraday low to high ranges. I am currently monitoring a potential move into the 101.35 to 101.13 support area. Alternatively a failure to break into this lower range could see USDJPY trade back up to the 103.05 to 103.38 resistance range.

Key intraday levels:
USDJPY: 100.13, 101.35, 103.05, 103.38.

 

[acfx]

Daily Technical Analysis fro ACFX 12/06/2013


Daily Technical Analysis for EURUSD as at 6th December 2013

Yesterday’s summary
Yesterday’s trading saw EURUSD end the session 75 pips higher from its open whilst trading a 135 pip range.
The price action continues to have a negative daily swing bias whilst trading within a large expanding triangle. However yesterday price action did manage to trade and close above the large horizontal congestion range. This could indicate that EURUSD will attempt to trade up to the 25th October high at 1.3832.

Focus on today
This morning’s EURUSD has broken lower in early trading. EURUSD is now trading below the low of the previous day’s high range of 1.3659 to 1.3678.

As EURUSD is trading just below yesterday’s high range which is 1.3659 to 1.3678, I am monitoring the potential for this trading range to hold with the price action bouncing within these levels.
Alternatively breaks above or beneath this range could offer potential trading opportunities in the direction of the break out or break down.

Key intraday levels:
EURUSD: 1.3524 1.3557, 1.3659, 1.3678.




Daily Technical Analysis for GBPUSD as at 6th December2013

Yesterday’s summary
Yesterday’s trading saw GBPUSD end the session 48 pips lower from its open whilst trading a 104 pip range.
The price action continues to have a positive daily swing bias and is currently trading under the 1.6400 area which appears to be a major resistance level but is finding support at the 8 period moving averages.

Focus on today
This morning’s GBPUSD had been trading within a 10 pip range but appears to attempting to break lower over the past 3 hours and is now trading 23 pips off its intraday high.

GBPUSD is trading between the 1.6132/1.6174 and 1.6368/1.6442 low and high congestion zones. I am monitoring the potential for price action to break up or down to these ranges.

Key intraday levels:
GBPUSD: 1.6132, 1.6174, 1.6368, 1.6442.



Daily Technical Analysis for USDCHF as at 6th December 2013

Yesterday’s summary
Yesterday’s trading saw USDCHF close 57 pips lower from that day’s open whilst trading a 94 pip range.

The price action continues to have a positive daily swing bias but appears to be break lower from its bullish flag formation.

Focus on today
This morning’s EURUSD had been trading within a 20 pip range but appears to attempting to break out to the upside and is now trading 22 pips lower off its intraday low.

As USDCHF is trading within the today’s low range which is 0.8956 to 0.8976, I am monitoring the potential for this trading range to hold with the price action bouncing within these levels.

Alternatively breaks above or beneath this range could offer potential trading opportunities in the direction of the break out or break down.

Key intraday levels:
USDCHF: 0.8956, 0.8976, 0.9084, 0.9110.



Daily Technical Analysis for USDJPY as at 6th December 2013

Yesterday’s summary
Yesterday’s trading saw USDJPY close 59 pips lower from the previous day’s open whilst trading an 82 pip range.
The price action continues to have a positive daily swing bias. The 103.70 level is still offering both a target and a strong resistance level to current market activity.

Focus on today
This morning’s USDJPY had been trading within a 19 pip range but has since broken up over the past 4 hours and is now trading 57 pips lower off its intraday low.

USDJPY is trading between the 101.13, 101.35 and 103.05, 103.38 intraday low to high ranges. I am currently monitoring a potential move into the 101.35 to 101.13 support area. Alternatively a failure to break into this lower range could see USDJPY trade back up to the 103.05 to 103.38 resistance range.

Key intraday levels:
USDJPY: 101.80, 102.36, 103.05, 103.38.

 

[acfx]

Daily Technical Analysis for 11th December 2013 from ACFX

EURUSD

Yesterday’s summary
Yesterday’s trading saw EURUSD end the session 24 pips higher from its open whilst trading a 63 pip range.
The price action continues to have a negative daily swing bias whilst trading within a large expanding triangle.

However I am now seeing a acceleration to the upside following a break above the large horizontal congestion range. This could indicate that EURUSD will attempt to trade up to the 25th October high at 1.3832.

Focus on today
This morning’s EURUSD is trading below the previous day’s high within range and within a 24 pip early morning Tokyo session range. Furthermore currently EURUSD is also trading within the 1.3755 to 1.3795 resistance zone.
AS EURUSD is trading within 1.3755/1.3795 range, I am monitoring the potential for this trading range to hold with the price action bouncing between these levels.

Alternatively breaks above or beneath this range could offer potential trading opportunities in the direction of the break out or break down.

Key intraday levels
EURUSD: 1.3520 1.3565, 1.3755, 1.3795


GBPUSD

Yesterday’s summary
Yesterday’s trading saw GBPUSD end the session 16 pips higher from its open whilst trading a 48 pip range.
The price action continues to have a positive daily swing bias and is currently trading above the 1.6400 resistance area following the bounce off the 8 period moving averages.

Focus on today
This morning’s GBPUSD is trading beneath the previous day’s high and within a 24 pip early morning Tokyo session range. Furthermore currently GBPUSD is also trading within the 1.6445 to 1.6365 resistance zone.
AS GBPUSD is trading within 1.6445/1.6365 range, I am monitoring the potential for this trading range to hold with the price action bouncing between these levels.

Alternatively breaks above or beneath this range could offer potential trading opportunities in the direction of the break out or break down.

Key intraday levels
GBPUSD: 1.6130, 1.6175, 1.6365, 1.6445.


USDJPY

Yesterday’s summary
Yesterday’s trading saw USDJPY close 44 pips lower from its open whilst trading an 83 pip range.
The price action continues to have a positive daily swing bias with the price action hovering above the 8 period moving averages. The 103.70 level is still offering both a target and a strong resistance level to current market activity.

Focus on today
This morning’s USDJPY is trading beneath the previous day’s high and within a 53 pip early morning Tokyo session range. Furthermore currently USDJPY is also trading between the 102.00/102.35 to 103.05/103.40 price congestion areas.
AS USDJPY is trading between the 102.00/102.35 to 103.05/103.40 price congestion areas, I am monitoring the potential for the price action to break up our break down into these areas.

Alternatively there is a possibility that USDJPY between the 102.35 to 103.05 levels for the rest of the day.

Key intraday levels
USDJPY: 102.00, 102.35, 103.05, 103.40


USDCHF

Yesterday’s summary
Yesterday’s trading saw USDCHF close 30 pips lower from its open whilst trading a 57 pip range.

Following yesterday’s break of 24th October low at 0.8889 the trend in USDCHF has changed to negative on a swing bases.

Focus on today
This morning’s USDCHF is trading above the previous day’s low and within a 20 pip early morning Tokyo session range. Furthermore currently USDCHF is also trading within the 0.8850 to 0.8910 resistance zone.
AS USDCHF is trading within 0.8850/0.8910 range, I am monitoring the potential for this trading range to hold with the price action bouncing between these levels.

Alternatively breaks above or beneath this range could offer potential trading opportunities in the direction of the break out or break down.

Key intraday levels
USDCHF: 0.8850, 0.8910, 0.9080, 0.9110

 

[acfx]

Daily Technical Analysis for 12th December 2013 from ACFX

EURUSD

Yesterday’s summary
Yesterday’s trading saw EURUSD end the session 26 pips higher from its open whilst trading a 73 pip range.
The price action continues to have a negative daily swing bias whilst trading within a large expanding triangle.

However I am now seeing a acceleration to the upside following a break above the large horizontal congestion range. This could indicate that EURUSD will attempt to trade up to the 25th October high at 1.3832.

Focus on today
This morning’s EURUSD is trading below the previous day’s high within range and within a 25 pip early morning Tokyo session range. Furthermore currently EURUSD is also trading within the 1.3811 to 1.3763 resistance zone.

AS EURUSD is trading within 1.3811/1.3763 range, I am monitoring the potential for this trading range to hold with the price action bouncing between these levels.

Alternatively breaks above or beneath this range could offer potential trading opportunities in the direction of the break out or break down.

Key intraday levels
EURUSD: 1.3520 1.3565, 1.3763, 1.3811


GBPUSD

Yesterday’s summary
Yesterday’s trading saw GBPUSD end the session 71 pips lower from its open whilst trading a 118 pip range.
The price action continues to have a positive daily swing bias and is currently trading above the 1.6400 resistance area following the bounce off the 8 period moving averages.

Focus on today
This morning’s GBPUSD is trading above the previous day’s low and within a 53 pip early morning Tokyo session range. Furthermore currently GBPUSD is also trading between the 1.6130/1.6175 to 1.6419/1.6466 congestion areas.

AS GBPUSD is trading between the 6130/1.6175 to 1.6419/1.6466 price congestion areas, I am monitoring the potential for the price action to break up our break down into these areas.

Alternatively there is a possibility that GBPUSD trades in between the 1.6175 to 1.6419 levels for the rest of the day.

Key intraday levels
GBPUSD: 1.6130, 1.6175, 1.6419, 1.6466.


USDJPY

Yesterday’s summary
Yesterday’s trading saw USDJPY close 40 pips lower from its open whilst trading an 80 pip range.
The price action continues to have a positive daily swing bias with the price action hovering above the 8 period moving averages. The 103.70 level is still offering both a target and a strong resistance level to current market activity.

Focus on today
This morning’s USDJPY is trading beneath the previous day’s high and within a 39 pip early morning Tokyo session range. Furthermore currently USDJPY is also trading between the 102.00/102.35 to 103.05/103.40 price congestion areas.

AS USDJPY is trading between the 102.00/102.35 to 103.05/103.40 price congestion areas, I am monitoring the potential for the price action to break up our break down into these areas.

Alternatively there is a possibility that USDJPY trades in between the 102.35 to 103.05 levels for the rest of the day.

Key intraday levels
USDJPY: 102.00, 102.35, 103.05, 103.40.


USDCHF

Yesterday’s summary
Yesterday’s trading saw USDCHF close 12 pips lower from its open whilst trading a 47 pip range.

Following yesterday’s break of 24th October low at 0.8889 the trend in USDCHF has changed to negative on a swing bases.

Focus on today
This morning’s USDCHF is trading above the previous day’s low and within a 16 pip early morning Tokyo session range. Furthermore currently USDCHF is also trading within the 0.8880 to 0.8840 price congestion zone.

AS USDCHF is trading within 0.8880/0.8840 range, I am monitoring the potential for this trading range to hold with the price action bouncing between these levels.

Alternatively breaks above or beneath this range could offer potential trading opportunities in the direction of the break out or break down.

Key intraday levels
USDCHF: 0.8840, 0.8880, 0.9080, 0.9110.

 

[acfx]

Daily Technical Analysis for 16th December 2013 from ACFX


EURUSD

Yesterday’s summary
Yesterday’s trading saw EURUSD end the session 8 pips lower from its open whilst trading a 60 pip range.
The price action continues to have a negative daily swing bias whilst trading within a large expanding triangle.

The price action has corrected down to the 8 period moving averages which could possibly be views as a value area where one could add long positions. The initial target for any such move higher being the 25th October swing high pivot at 1.3832.

However a failure to hold this key support area could see EURUSD move lower to the upward sloping trend line.

Focus on today
This morning’s EURUSD is trading above the previous day’s low within range and within a 25 pip early morning Tokyo session range. . Furthermore currently EURUSD is also trading between the 1.3520/1.3565 to 1.3763/1.3811 congestion areas.

AS EURUSD is trading between the 1.3520/1.3565 to 1.3763/1.3811 price congestion areas, I am monitoring the potential for the price action to break up our break down into these areas.

Alternatively EURUSD could continue to trade between the 1.3565 to 1.3763 levels for the rest of the session.

Key intraday levels
EURUSD: 1.3520 1.3565, 1.3763, 1.3811


GBPUSD

Yesterday’s summary
Yesterday’s trading saw GBPUSD end the session 51 pips lower from its open whilst trading a 97 pip range.
The price action continues to have a positive daily swing bias and is currently correcting back towards the 34 period moving averages.

Focus on today
This morning’s GBPUSD is trading above the previous day’s low and within a 53 pip early morning Tokyo session range. Furthermore currently GBPUSD is also trading between the 1.6130/1.6175 to 1.6419/1.6466 congestion areas.

AS GBPUSD is trading between the 6130/1.6175 to 1.6419/1.6466 price congestion areas, I am monitoring the potential for the price action to break up our break down into these areas.

Alternatively there is a possibility that GBPUSD trades in between the 1.6175 to 1.6419 levels for the rest of the day.

Key intraday levels
GBPUSD: 1.6130, 1.6175, 1.6419, 1.6466.




USDJPY

Yesterday’s summary
Yesterday’s trading saw USDJPY close 16 pips lower from its open whilst trading a 95 pip range.
The price action continues to have a positive daily swing bias with the price action hovering above the 8 period moving averages. The 103.70 level is still offering both a target and a strong resistance level to current market activity.

Focus on today
This morning’s USDJPY is trading beneath the previous day’s high and within a 57 pip early morning Tokyo session range. Furthermore currently USDJPY is also trading between the 102.00/102.35 to 103.05/103.40 price congestion areas.

AS USDJPY is trading between the 102.00,/102.35 and 103.43/103.92 price congestion areas, I am monitoring the potential for the price action to break up our break down into these areas.

Alternatively there is a possibility that USDJPY trades in between the 102.35 to 103.43 levels for the rest of the day.

Key intraday levels
USDJPY: 102.00, 102.35, 103.43, 103.92.

USDCHF

Yesterday’s summary
Yesterday’s trading saw USDCHF closed at its opening price pips whilst trading a 37 pip range.

Following the break of 24th October low at 0.8889 the trend in USDCHF has changed to negative on a swing bases.

Focus on today
This morning’s USDCHF is trading above the previous day’s low and within a 22 pip early morning Tokyo session range. Furthermore currently USDCHF is also trading within the 0.8880 to 0.8840 price congestion zone.

AS USDCHF is trading just above the 0.8880/0.8840 congestion range, I am monitoring the potential for 0.8880 to be breached to the downside.

Key intraday levels
USDCHF: 0.8840, 0.8880, 0.9080, 0.9110.

Alternatively a failure to sustain a break under 0.8880 could see USDCHF trade higher.

 

[acfx]

Daily Technical Analysis for 17th December 2013 from ACFX


EURUSD

Yesterday’s summary
Yesterday’s trading saw EURUSD end the session 31 pips higher from its open whilst trading a 70 pip range.
The price action continues to have a negative daily swing bias whilst trading within a large expanding triangle.

The price action has corrected down to the 8 period moving averages value area and has since bounce higher off this level. The initial target for any such move higher being the 25th October swing high pivot at 1.3832.

However a failure to hold this key support area could see EURUSD move lower to the upward sloping trend line.

Focus on today
This morning’s EURUSD is trading above the previous day’s low within range and within a 30 pip early morning Tokyo session range. . Furthermore currently EURUSD is also trading within the 1.3763 to 1.3811 congestion area.
AS EURUSD is trading within the 1.3763/1.3811 congestion range, I am monitoring the potential for the price action to break out or break down from this area.

Alternatively EURUSD could continue to trade between the 1.3763 to 1.3811 levels for the rest of the session.

Key intraday levels
EURUSD: 1.3520 1.3565, 1.3763, 1.3811.




GBPUSD

Yesterday’s summary
Yesterday’s trading saw GBPUSD end the session close near it’s whilst trading a 60 pip range.
The price action continues to have a positive daily swing bias and is currently correcting back towards the 34 period moving averages.

Focus on today
This morning’s GBPUSD is trading above the previous day’s low and within a 33 pip early morning Tokyo session range. Furthermore currently GBPUSD is also trading between the 1.6130/1.6175 to 1.6419/1.6466 congestion areas.
AS GBPUSD is trading between the 6130/1.6175 to 1.6419/1.6466 price congestion areas, I am monitoring the potential for the price action to break up our break down into these areas.

Alternatively there is a possibility that GBPUSD trades in between the 1.6175 to 1.6419 levels for the rest of the day.

Key intraday levels
GBPUSD: 1.6130, 1.6175, 1.6419, 1.6466.




USDJPY

Yesterday’s summary
Yesterday’s trading saw USDJPY close 22 pips lower from its open whilst trading a 64 pip range.
The price action continues to have a positive daily swing bias with the price action hovering above the 8 period moving averages. The 103.70 level is still offering both a target and a strong resistance level to current market activity.

Focus on today
This morning’s USDJPY is trading within the previous day’s range and within a 19 pip early morning Tokyo session range. Furthermore currently USDJPY is also trading between the 102.00/102.35 to 103.05/103.40 price congestion areas.
AS USDJPY is trading between the 102.00,/102.35 and 103.43/103.92 price congestion areas, I am monitoring the potential for the price action to break up our break down into these areas.

Alternatively there is a possibility that USDJPY trades in between the 102.35 to 103.43 levels for the rest of the day.

Key intraday levels
USDJPY: 102.00, 102.35, 103.43, 103.92.




USDCHF

Yesterday’s summary
Yesterday’s trading saw USDCHF closed 31 pips lower from its open price pips whilst trading a 60 pip range.

Following the break of 24th October low at 0.8889 the trend in USDCHF has changed to negative on a swing bases. Monday’s price action saw a rejection of the 8 period moving averages and a resumption of the down trend.

Focus on today
This morning’s USDCHF is trading above the previous day’s low and within a 21 pip early morning Tokyo session range. Furthermore currently USDCHF is also trading within the 0.8880 to 0.8840 price congestion zone.
AS USDCHF is trading within the 0.8880/0.8840 congestion range, I am monitoring the potential for the price action to break out or break down from this area.

Alternatively USDCHF could continue to trade between the 0.8880 to 0.8840 levels for the rest of the session.

Key intraday levels
USDCHF: 0.8840, 0.8880, 0.9080, 0.9110.

 

[acfx]

Daily Technical Analysis for 18th December 2013 from ACFX


EURUSD

Yesterday’s summary
Yesterday’s trading saw EURUSD end the session 7 pips higher from its open whilst trading a 60 pip range.
The price action continues to have a negative daily swing bias whilst trading within a large expanding triangle. EURUSD has corrected down to the 8 period moving averages value area and has since bounce higher off this level. The initial target for any such move higher being the 25th October swing high pivot at 1.3832. However a failure to hold this key support area could see EURUSD move lower to the upward sloping trend line.

Focus on today
This morning’s EURUSD is trading within the previous day’s range and within a 15 pip early morning Tokyo session range. Furthermore currently EURUSD is also trading within the 1.3763 to 1.3811 congestion area.
AS EURUSD is trading within the 1.3763/1.3811 congestion range, I am monitoring the potential for the price action to break out or break down from this area.

Alternatively EURUSD could continue to trade between the 1.3763 to 1.3811 levels for the rest of the session.

Key intraday levels
EURUSD: 1.3520 1.3565, 1.3763, 1.3811.




GBPUSD

Yesterday’s summary
Yesterday’s trading saw GBPUSD end the session 30 pips lower from its open whilst trading a 121 pip range.

The price action continues to have a positive daily swing bias and is currently moving higher following a correction back towards the 34 period moving averages and trend line support.

Focus on today
This morning’s GBPUSD is trading above the previous day’s low and within a 24 pip early morning Tokyo session range. Furthermore currently GBPUSD is also trading just above the 1.6213 to 1.6283 congestion area.
AS GBPUSD is trading within the 1.6213/1.6283 congestion range, I am monitoring the potential for the price action to break out or break down from this area.

Alternatively GBPUSD could continue to trade between the 1.6213 to 1.6283 levels for the rest of the session.

Key intraday levels
GBPUSD: 1.6213, 1.6283, 1.6419, 1.6466.




USDJPY

Yesterday’s summary
Yesterday’s trading saw USDJPY close 36 pips lower from its open whilst trading a 62 pip range.
The price action continues to have a positive daily swing bias with the price action hovering above the 8 period moving averages. The 103.70 level is still offering both a target and a strong resistance level to current market activity.

Focus on today
This morning’s USDJPY is trading within the previous day’s range and within a 39 pip early morning Tokyo session range. Furthermore currently USDJPY is also trading between the 102.00/102.35 to 103.43/103.92 price congestion areas.
AS USDJPY is trading between the 102.00/102.35 and 103.43/103.92 price congestion areas, I am monitoring the potential for the price action to break up our break down into these areas.

Alternatively there is a possibility that USDJPY trades in between the 102.35 to 103.43 levels for the rest of the day.

Key intraday levels
USDJPY: 102.00, 102.35, 103.43, 103.92.




USDCHF

Yesterday’s summary
Yesterday’s trading saw USDCHF closed 25 pips lower from its open price pips whilst trading a 63 pip range.

Following the break of 24th October low at 0.8889 the trend in USDCHF has changed to negative on a swing bases. The current market activity can be viewed as an end of a corrective up move followed by a rejection of the 8 period moving averages and a resumption of the down trend.

Focus on today
This morning’s USDCHF is trading above the previous day’s low and within a 10 pip early morning Tokyo session range. Furthermore currently USDCHF is also trading within the 0.8831 to 0.8869 price congestion zone.
AS USDCHF is trading within the 0.8831/0.8869 congestion range, I am monitoring the potential for the price action to break out or break down from this area.

Alternatively USDCHF could continue to trade between the 0.8831 to 0.8869 levels for the rest of the session.

Key intraday levels
USDCHF: 0.8831, 0.8869, 0.9080, 0.9110.

 

[acfx]

Daily Technical Analysis for 19th December 2013 from ACFX

EURUSD

Yesterday’s summary

Yesterday’s trading saw EURUSD end the session 84 pips lower from its open whilst trading a 138 pip range.

The price action continues to have a negative daily swing bias whilst trading within a large expanding triangle. Yesterday EURUSD experienced a strong downside corrective mover that has taken it beyond trend line resistance.


I am monitoring a potential move to the 34 period moving averages.


Alternatively if EURUSD trade back above the 8 period moving averages could lead to a move to the 25th October swing high pivot at 1.3832.


Focus on today

This morning’s EURUSD is trading below the previous day’s low and within a 44 pip early morning Tokyo session range. Furthermore currently EURUSD is also trading between the 1.3520/1.3565 to 1.3763/1.3811 price congestion areas.

AS EURUSD is trading between the 1.3520/1.3565 and 1.3763/1.3811 price congestion areas, I am monitoring the potential for the price action to break up our break down into these areas.

Alternatively there is a possibility that EURUSD trades in between the 1.3565 to 1.3763 levels for the rest of the day.

Key intraday levels
EURUSD: 1.3520 1.3565, 1.3763, 1.3811




GBPUSD

Yesterday’s summary

Yesterday’s trading saw GBPUSD end the session 127 pips higher from its open whilst trading a 222 pip range.

The price action continues to have a positive daily swing bias and is currently moving higher following a correction back towards the 34 period moving averages and trend line support.

Focus on today

This morning’s GBPUSD is trading within the previous day’s range within a 27 pip early morning Tokyo session range. Furthermore currently GBPUSD is also trading between the 1.6213/1.6283 to1.6419/1.6466 price congestion areas.

AS GBPUSD is trading between the 1.6213/1.6283 to1.6419/1.6466 price congestion areas, I am monitoring the potential for the price action to break up our break down into these areas.

Alternatively there is a possibility that GBPUSD trades in between the 1.6283 to 1.6419 levels for the rest of the day.

Key intraday levels
GBPUSD: 1.6213, 1.6283, 1.6419, 1.6466.



USDJPY

Yesterday’s summary

Yesterday’s trading saw USDJPY close 163 pips higher from its open whilst trading a 181 pip range.

The price action continues to have a positive daily swing bias with the price action having completed its correction down to the 8 period moving averages and bounced higher.

Focus on today

This morning’s USDJPY is trading within the previous day’s range and within a 44 pip early morning Tokyo session range. Furthermore currently USDJPY has this morning broken down from its 103.97/104.36 morning range high.

AS USDJPY is trading just beneath the 103.97/104.36 congestion range, I am monitoring the potential for the price action to continue with the downside momentum.

Alternatively USDJPY could continue to trade back into the 103.97/104.36 area and stay here for between the rest of the session.

Key intraday levels
USDJPY: 102.00, 102.35, 103.97, 104.36.



USDCHF

Yesterday’s summary

Yesterday’s trading saw USDCHF closed 90 pips higher from its open price pips whilst trading a 103 pip range.

Following the break of 24th October low at 0.8889 the trend in USDCHF has changed to negative on a swing bases. The current market activity can be viewed as a corrective move up to trend line resistance.

Focus on today

This morning’s USDCHF is trading above the previous day’s high and within a 27 pip early morning Tokyo session range. Furthermore currently USDCHF is also trading between the 0.8831/0.8869 to 0.9080/0.9110 price congestion areas.

AS USDCHF is trading between the 0.8831/0.8869 to 0.9080/0.91101 price congestion areas, I am monitoring the potential for the price action to break up our break down into these areas.

Alternatively there is a possibility that USDCHF trades in between the 0.8869 to 0.980 levels for the rest of the day.

Furthermore currently USDCHF is also trading within the 0.8831 to 0.8869 price congestion zone.

Key intraday levels
USDCHF: 0.8831, 0.8869, 0.9080, 0.9110.

 

[acfx]

Daily Technical Analysis for 20th December 2013 from ACFX


EURUSD

Yesterday’s summary
Yesterday’s trading saw EURUSD end the session 23 pips lower from its open whilst trading a 42 pip range.

Market overview
The price action continues to have a negative daily swing bias whilst trading within a large expanding triangle. Yesterday EURUSD experienced a strong downside corrective mover that has taken it beyond trend line resistance. I am monitoring a potential move to the 34 period moving averages. Alternatively if EURUSD trade back above the 8 period moving averages could lead to a move to the 25th October swing high pivot at 1.3832.

Focus on today
This morning EURUSD is trading below the previous day’s low and within a 30 pip early morning Tokyo session range.

Furthermore currently EURUSD is also trading between the 1.3520/1.3565 to 1.3763/1.3811 price congestion areas.

AS EURUSD is trading between the 1.3520/1.3565 to 1.3763/1.3811 price congestion areas, I am monitoring the potential for the price action to break up our break down into these areas.

Alternatively there is a possibility that EURUSD trades in between the 1.3565 to 1.3763 levels for the rest of the day.

Key intraday levels
EURUSD: 1.3520 1.3565, 1.3763, 1.3811.



GBPUSD

Yesterday’s summary
Yesterday’s trading saw GBPUSD end the session 5 pips lower from its open whilst trading a 62 pip range.

Market overview
The price action continues to have a positive daily swing bias and is currently moving higher following a correction back towards the 34 period moving averages and trend line support.

Focus on today
This morning GBPUSD is trading within the previous day’s range and within a 40 pip early morning Tokyo session range.

Furthermore currently GBPUSD is also trading between the 1.6213/1.6283 to 1.6419/1.6466 price congestion areas.

AS GBPUSD is trading between the 1.6213/1.6283 to 1.6419/1.6466 price congestion areas, I am monitoring the potential for the price action to break up our break down into these areas.

Alternatively there is a possibility that GBPUSD trades in between the 1.6283 to 1.6419 levels for the rest of the day.
Please scroll down

Key intraday levels
GBPUSD: 1.6213, 1.6283, 1.6419, 1.6466.



USDJPY

Yesterday’s summary
Yesterday’s trading saw USDJPY end the session 5 pips higher from its open whilst trading a 58 pip range.

Market overview
The price action continues to have a positive daily swing bias with the price action having completed its correction down to the 8 period moving averages and bounced higher.

Focus on today
This morning USDJPYis trading above the previous day’s high and within a 36 pip early morning Tokyo session range.

Furthermore currently USDJPY has this morning trading above the previous day range high of 103.97 to 104.36.

AS USDJPY is trading just above the 103.97 to 104.36 congestion range, I am monitoring the potential for the price action to continue with the upside momentum.

Alternatively USDJPY could continue to trade within the 103.97 to 104.36 area for the rest of the session.

Key intraday levels
USDJPY: 102.00, 102.35, 103.97, 104.36.



USDCHF

Yesterday’s summary
Yesterday’s trading saw USDCHF end the session 39 pips higher from its open whilst trading a 52 pip range.

Market overview
Following the break of 24th October low at 0.8889 the trend in USDCHF has changed to negative on a swing bases. The current market activity can be viewed as a corrective move up to trend line resistance.

Focus on today
This morning USDCHF is trading above the previous day’s high and within a 20 pip early morning Tokyo session range.

Furthermore currently USDCHF is also trading between the 0.8831/0.8869 to 0.9080/0.9110 price congestion areas.

AS USDCHF is trading between the 0.8831/0.8869 to 0.9080/0.9110 price congestion areas, I am monitoring the potential for the price action to break up our break down into these areas.

Alternatively there is a possibility that USDCHF trades in between the 0.8869 to 0.9080 levels for the rest of the day.

Key intraday levels
USDCHF: 0.8831, 0.8869, 0.9080, 0.9110.

 

[acfx]

Daily Technical Analysis 23rd December 2013 from ACFX



EURUSD

Yesterday’s summary
Friday’s trading saw EURUSD end the session 17 pips higher from its open whilst trading a 84 pip range.

Market overview
The price action continues to have a negative daily swing bias whilst trading within a large expanding triangle. Friday EURUSD closed within the range of the previous day. I am monitoring a potential move to the 34 period moving averages. Alternatively if EURUSD trade back above the 8 period moving averages could lead to a move to the 25th October swing high pivot at 1.3832.

Focus on today
This morning EURUSD is trading within the previous day’s range and within a 22 pip early morning Tokyo session range.

Furthermore currently EURUSD is also trading between the .3520/1.3565 to 1.3763/1.3811 price congestion areas.

AS EURUSD is trading between the 1.3520/1.3565 to 1.3763/1.3811 price congestion areas, I am monitoring the potential for the price action to break up our break down into these areas.

Alternatively there is a possibility that EURUSD trades in between the 1.3565 to 1.3763 levels for the rest of the day.

Key intraday levels
EURUSD: 1.3520 1.3565, 1.3763, 1.3811


GBPUSD

Yesterday’s summary
Yesterday’s trading saw GBPUSD end the session 36 pips lower from its open whilst trading a 80 pip range.

Market overview
The price action continues to have a positive daily swing bias and is currently moving higher following a correction back towards the 34 period moving averages and trend line support.

Focus on today
This morning GBPUSD is trading within the previous day’s range and within a 40 pip early morning Tokyo session range.

Furthermore currently GBPUSD is also trading between the 1.6213/1.6283 to 1.6419/1.6466 price congestion areas.

AS GBPUSD is trading between the 1.6213/1.6283 to 1.6419/1.6466 price congestion areas, I am monitoring the potential for the price action to break up our break down into these areas.

Alternatively there is a possibility that GBPUSD trades in between the 1.6283 to 1.6419 levels for the rest of the day.

Key intraday levels
GBPUSD: 1.6213, 1.6283, 1.6419, 1.6466.



USDJPY

Yesterday’s summary
Yesterday’s trading saw USDJPY end the session 21 pips lower from its open whilst trading a 77 pip range.

Market overview
The price action continues to have a positive daily swing bias and is currently moving higher following a correction back towards the 34 period moving averages and trend line support.

Focus on today
This morning USDJPYis trading within the previous day’s range and within a 13 pip early morning Tokyo session range.

Furthermore currently USDJPY has this morning trading within the 103.97 to 104.36 previous day range high.

AS USDJPY is trading between the 103.97 to 104.36 price congestion areas, I am monitoring the potential for the price action to break up our break down into these areas.

Alternatively there is a possibility that USDJPY trades in between the 103.97 to 104.36 levels for the rest of the day.

Key intraday levels
USDJPY: 102.00, 102.35, 103.97, 104.36.


USDCHF

Yesterday’s summary
Yesterday’s trading saw USDCHF end the session 18 pips lower from its open whilst trading a xx pip range.

Market overview
Following the break of 24th October low at 0.8889 the trend in USDCHF has changed to negative on a swing bases. The current market activity can be viewed as a corrective move up to trend line resistance.

I am monitoring for a possible return back to the down trend.

Focus on today
This morning USDCHF is trading within the previous day’s range and within a 16 pip early morning Tokyo session range.

Furthermore currently USDCHF is also trading between the 0.8831/0.8869 to 0.9080/0.9110 price congestion areas.

AS USDCHF is trading between the 0.8831/0.8869 to 0.9080/0.9110 price congestion areas, I am monitoring the potential for the price action to break up our break down into these areas.

Alternatively there is a possibility that USDCHF trades in between the 0.8869 to 0.9080 levels for the rest of the day.

Key intraday levels
USDCHF: 0.8831, 0.8869, 0.9080, 0.9110.

 

[acfx]

Daily Technical Analysis for 24th December 2013 from ACFX



EURUSD

Yesterday’s summary
Yesterday’s trading saw EURUSD end the session 25 pips higher from its open whilst trading a 48 pip range.

Market overview
The price action continues to have a negative daily swing bias whilst trading within a large expanding triangle. Friday EURUSD closed within the range of the previous day. I am monitoring a potential move to the 34 period moving averages. Alternatively if EURUSD trade back above the 8 period moving averages could lead to a move to the 25th October swing high pivot at 1.3832.

Focus on today
This morning EURUSD is trading within the previous day’s range and within a 20 pip early morning Tokyo session range.

Furthermore currently EURUSD is also trading between the 1.3520/1.3565 to 1.3763/1.3811 price congestion areas.

AS EURUSD is trading between the 1.3520/1.3565 to 1.3763/1.3811 price congestion areas, I am monitoring the potential for the price action to break up our break down into these areas.

Alternatively there is a possibility that EURUSD trades in between the 1.3565 to 1.3763 levels for the rest of the day.

Key intraday levels
EURUSD: 1.3520 1.3565, 1.3763, 1.3811



GBPUSD

esterday’s summary
Yesterday’s trading saw GBPUSD end the session 20 pips higher from its open whilst trading a 51 pip range.

Market overview
The price action continues to have a positive daily swing bias and is currently moving higher following a correction back towards the 34 period moving averages and trend line support.

Focus on today
This morning GBPUSD is trading within the previous day’s range and within a 27 pip early morning Tokyo session range.

Furthermore currently GBPUSD is also trading between the 1.6213/1.6283 to 1.6419/1.6466 price congestion areas.

AS GBPUSD is trading between the 1.6213/1.6283 to 1.6419/1.6466 price congestion areas, I am monitoring the potential for the price action to break up our break down into these areas.

Alternatively there is a possibility that GBPUSD trades in between the 1.6283 to 1.6419 levels for the rest of the day.

Key intraday levels
GBPUSD: 1.6213, 1.6283, 1.6419, 1.6466.




USDJPY

Yesterday’s summary
Yesterday’s trading saw USDJPY end the session 9 pips higher from its open whilst trading a 34 pip range.

Market overview
The price action continues to have a positive daily swing bias and is currently moving higher following a correction back towards the 34 period moving averages and trend line support.

Focus on today
This morning USDJPYis trading above the previous day’s high and within a 29 pip early morning Tokyo session range.

Furthermore currently USDJPY has this morning trading within the 103.97 to 104.36 previous day range high.

AS USDJPY is trading between the xx/xx and xx/xx price congestion areas, I am monitoring the potential for the price action to break up our break down into these areas.
Alternatively there is a possibility that USDJPY trades in between the xx to xx levels for the rest of the day.


AS USDJPY is trading between the 103.97 to 104.36 congestion range, I am monitoring the potential for the price action to break out or break down from this area.

Alternatively USDJPY could continue to trade within the 103.97 to 104.36 area for the rest of the session.

Key intraday levels
USDJPY: 102.00, 102.35, 103.97, 104.36.



USDCHF

Yesterday’s summary
Yesterday’s trading saw USDCHF end the session 25 pips lower from its open whilst trading a 44 pip range.

Market overview
Following the break of 24th October low at 0.8889 the trend in USDCHF has changed to negative on a swing bases. The current market activity can be viewed as a corrective move up to trend line resistance.

I am monitoring for a possible return back to the down trend.

Focus on today
This morning USDCHF is trading within the previous day’s range and within a 23 pip early morning Tokyo session range.

Furthermore currently USDCHF is also trading between the 0.8831/0.8869 to 0.8982/0.9001 price congestion areas.

AS USDCHF is trading between the 0.8831/0.8869 to 0.8982/0.9001 price congestion areas, I am monitoring the potential for the price action to break up our break down into these areas.

Alternatively there is a possibility that USDCHF trades in between the 0.8869 to 0.8982 levels for the rest of the day.

Key intraday levels
USDCHF: 0.8831, 0.8869, 0.8982, 0.9001.

 

[acfx]

Daily Technical Analysis for 27th December 2013 from ACFX



EURUSD

Yesterday’s summary
Yesterday’s trading saw EURUSD end the session 11 pips higher from its open whilst trading a 27 pip range.

Market overview
The price action continues to have a negative daily swing bias whilst trading within a large expanding triangle. Thursday EURUSD traded and closed within the range of the previous day. EURUSD has this morning broken back above the 8 period moving averages. I am monitoring a potential move to the 25th October swing high pivot at 1.3832.

Focus on today
This morning EURUSD is trading above the previous day’s high and within a 84 pip early morning Tokyo session range.

Furthermore currently EURUSD has this morning broken into the 1.3763 to 1.3811 range high.

AS EURUSD is trading just broken into the 1.3763/1.3811 congestion range, I am monitoring the potential for the price action to continue with further upward momentum.

Alternatively EURUSD could find resistance as it trades into the 1.3763/1.3811 congestion range which could lead to a potential downside pressure.

Key intraday levels
EURUSD: 1.3624 1.3647, 1.3763, 1.3811




GBPUSD

Yesterday’s summary
Yesterday’s trading saw GBPUSD end the session 27 pips higher from its open whilst trading a 69 pip range.

Market overview
The price action continues to have a positive daily swing bias and is currently moving higher following a correction back towards the 34 period moving averages and trend line support.

Focus on today
This morning GBPUSD is trading above the previous day’s high and within a 69 pip early morning Tokyo session range.

Furthermore currently GBPUSD has this morning trading within the 1.6419/1.6485 range high.

AS GBPUSD is trading just between the 1.6419/1.6485 congestion range, I am monitoring the potential for the price action to break out or break down from this area.

Alternatively GBPUSD could continue to trade within the 1.6419/1.6485 area for the rest of the session.

Key intraday levels
GBPUSD: 1.6213, 1.6283, 1.6419, 1.6485.




USDJPY

Yesterday’s summary
Yesterday’s trading saw USDJPY end the session 5 pips higher from its open whilst trading a 15 pip range.

Market overview
The price action continues to have a positive daily swing bias and is currently moving higher following a correction back towards the 8 period moving averages.

Focus on today
This morning USDJPY is trading below the previous day’s low and within a 36 pip early morning Tokyo session range.

Furthermore currently USDJPY has this morning trading within the 104.67/105.03 previous day range high.

AS USDJPY is trading within the 104.67/105.03 congestion range, I am monitoring the potential for the price action to break out or break down from this area.

Alternatively USDJPY could continue to trade within the 104.67/105.03 area for the rest of the session.

Key intraday levels
USDJPY: 102.49, 102.69, 104.67, 105.03.




USDCHF

Yesterday’s summary
Yesterday’s trading saw USDCHF end the session 2 pips higher from its open whilst trading a 18 pip range.

Market overview
Following the break of 24th October low at 0.8889 the trend in USDCHF has changed to negative on a swing bases. The current market activity can be viewed as a corrective move up to trend line resistance.
I am monitoring a possible return back to the down trend with this early morning negativity potentially indicating this scenario.

Focus on today
This morning USDCHF is trading below the previous day’s low and within a 52 pip early morning Tokyo session range.

Furthermore currently USDCHF is also trading between the 0.8831/0.8869 and 0.8982/0.9001 price congestion areas.

AS USDCHF is trading between the 0.8831/0.8869 and 0.8982/0.9001 price congestion areas, I am monitoring the potential for the price action to break up our break down into these areas.

Alternatively there is a possibility that USDCHF trades in between the 0.8869/0.8982 levels for the rest of the day.

Key intraday levels
USDCHF: 0.8831, 0.8869, 0.8982, 0.9001.

 

[acfx]

Daily Technical Analysis for 30th December 2013 from ACFX



EURUSD

Yesterday’s summary
Yesterday’s trading saw EURUSD end the session 56 pips higher from its open whilst trading a 205 pip range.

Market overview
Following Friday’s breach of the 25th October pivot high the swing bias is now positive on both the daily and weekly time frames. This move followed a correction and bounce off support and the 8 period moving averages.

Friday’s EURUSD traded an extremely large upside move of some 205 pips which is nearly 3 times the average daily range. The move proved to be too big and this eventually led to a correction back to support. . I am monitoring a possible continuation of the upside momentum.

Focus on today

This morning EURUSD is trading within the previous day’s range and within a 35 pip early morning Tokyo session range.

Furthermore currently EURUSD is this morning trading within the 1.3893/1.3837 morning range low.

AS EURUSD is trading between the 1.3893/1.3837 congestion range, I am monitoring the potential for the price action to break out or break down from this area.

Alternatively EURUSD could continue to trade within the 1.3893/1.3837 area for the rest of the session.

Key intraday levels
EURUSD: 1.3727 1.3762, 1.3837, 1.3893



GBPUSD

Yesterday’s summary
Yesterday’s trading saw GBPUSD end the session 72 pips higher from its open whilst trading a 173 pip range.

Market overview
The price action continues to have a positive daily swing bias on both daily and weekly time frames with the current market activity being a continuation of the bounce off the 8 period moving averages.

Friday’s volatile price action printed a large 173 pip daily range. On breaching the previous high of 1.6484 by some distance GBPUSD experienced a correction back to this level. I am monitoring a possible continuation of the upside momentum.

Focus on today
This morning GBPUSD is trading within the previous day’s range and within a 20 pip early morning Tokyo session range.

Furthermore currently GBPUSD is also trading between the 1.6213/1.6283 to 1.6527/1.6577 price congestion areas.

AS GBPUSD is trading between the 1.6213/1.6283 to 1.6527/1.6577 price congestion areas, I am monitoring the potential for the price action to break up our break down into these areas.

Alternatively there is a possibility that GBPUSD trades in between the 1.6213/1.6283 to 1.6527/1.6577 levels for the rest of the day.

Key intraday levels
GBPUSD: 1.6213, 1.6283, 1.6527, 1.6577.



USDJPY

Yesterday’s summary
Yesterday’s trading saw USDJPY end the session 37 pips higher from its open whilst trading a 57 pip range.

Market overview
USDJPY continues to have a positive daily and weekly swing bias and is currently moving higher following a correction back towards the 8 period moving averages. I am monitoring a possible continuation of the upside momentum.

Focus on today
This morning USDJPYis trading above the previous day’s high and within a 15 pip early morning Tokyo session range.

Furthermore currently USDJPY is this morning trading within the 105.15/105.41 morning range high.

AS USDJPY is trading just above/beneath/between the 105.15/105.41 congestion range, I am monitoring the potential for the price action to break out or break down from this area.

Alternatively USDJPY could continue to trade within the 105.15/105.41 area for the rest of the session.

Key intraday levels
USDJPY: 103.76, 103.98, 105.15, 105.41.



USDCHF

Yesterday’s summary
Yesterday’s trading saw USDCHF end the session 49 pips lower from its open whilst trading a 168 pip range.

Market overview
USDCHF continues to have a negative daily and weekly swing bias as the price action prints new lower lows.

Friday’s price action was extremely volatile with USDCHF printing a very large 168 pip range. The initial early morning move breached the previous swing low. However the latter part of the trading day saw USDCHF correct back to the 8 period moving averages value area. I am monitoring a possible continuation of the downside momentum.

Focus on today
This morning USDCHF is trading within the previous day’s range and within a 26 pip early morning Tokyo session range.

Furthermore currently USDCHF is also trading between the 0.8798/0.8844 to 0.8982/0.9001 price congestion areas.

AS USDCHF is trading between the 0.8798/0.8844 to 0.8982/0.9001 price congestion areas, I am monitoring the potential for the price action to break up our break down into these areas.

Alternatively there is a possibility that USDCHF trades in between the 0.8798/0.8844 to 0.8982/0.9001 levels for the rest of the day.

Key intraday levels
USDCHF: 0.8798, 0.8844, 0.8982, 0.9001.