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Daily Technical Analysis from ACFX

acfx

Broker Representative
Daily Technical Analysis for 31th December 2013 from ACFX


EURUSD

eurusddaily_zps310d941e.png


Yesterday’s summary
Yesterday’s trading saw EURUSD end the session 44 pips higher from its open whilst trading a 91 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.

Monday’s price action was a continuation of the bounce off support and the 8 period moving averages as it traded within Friday’s range. I am monitoring the possibility of further upside movement.

Focus on today
This morning EURUSD is trading within the previous day’s range and within a 25 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

gbpusddaily_zpsa8d553e2.png


Yesterday’s summary
Yesterday’s trading saw GBPUSD end the session 17 pips higher from its open whilst trading a 75 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.
Monday’s price action was a continuation of the bounce off support and the 8 period moving averages as it traded within Friday’s range. I am monitoring the possibility of further upside movement.

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

usdjpydaily_zpsdce1949a.png


Yesterday’s summary
Yesterday’s trading saw USDJPY end the session 7 pips lower from its open whilst trading a 46 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.
Monday’s price action saw USDJPY take a pause following its stellar rise. I am monitoring a possible continuation of the upside momentum however the price action is becoming increasingly extended from its averages.

Focus on today
This morning USDJPY is trading below the previous day’s low and within a 10 pip early morning Tokyo session range.

Furthermore currently USDJPYis also trading between the 103.76/103.98 to 105.15/105.41 price congestion areas.

AS USDJPY is trading between the 103.76/103.98 to 105.15/105.41 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 103.98 to 105.15 levels for the rest of the day.

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



USDCHF

usdchfdaily_zpscfb6aa44.png


Yesterday’s summary
Yesterday’s trading saw USDCHF end the session 33 pips lower from its open whilst trading a 73 pip range.

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

Monday’s price action can be viewed as a return to the down trend followed USDCHF trading back to 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 23 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.
 

acfx

Broker Representative
Daily Technical Analysis for 3rd January 2014 from ACFX

EURUSD

eurusddaily_zpsfc9a92e5.png


Yesterday’s summary
Yesterday’s trading saw EURUSD end the session 83 pips lower from its open whilst trading a 145 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.

Thursday’s price action saw EURUSD continue its correction down to the 34 period moving averages. I am monitoring the possibility of an upward bounce from this area.

Focus on today
This morning EURUSD is trading within the previous day’s range and within a 25 pip early morning Tokyo session range.

Furthermore currently EURUSD is this morning trading within the 1.3629/1.3675 previous day range low.

AS EURUSD is trading between the 1.3629/1.3675 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 1.3629/1.3675 area for the rest of the session.

Key intraday levels
EURUSD: 1.3629, 1.3675, 1.3791, 1.3819.



GBPUSD

gbpusddaily_zps50235cca.png


Yesterday’s summary
Yesterday’s trading saw GBPUSD end the session 114 pips lower from its open whilst trading a 193 pip range.

Market overview
The price action continues to have a positive daily swing bias on both daily and weekly time frames.
Thursday’s price action can be viewed as a correction towards the 8 period moving averages. I am monitoring the possibility of further upside movement.

Focus on today
This morning GBPUSD is trading within the previous day’s range and within a 38 pip early morning Tokyo session range.

Furthermore currently GBPUSD is this morning trading within the 1.6409/1.6459, previous day range low.

AS GBPUSD is trading between the 1.6409/1.6459 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 1.6409/1.6459 area for the rest of the session.

Key intraday levels
GBPUSD: 1.6409, 1.6459, 1.6570, 1.6603.



USDJPY

usdjpydaily_zpsaaf8de4b.png


Yesterday’s summary
Yesterday’s trading saw USDJPY end the session 53 pips lower from its open whilst trading a 90 pip range.

Market overview
USDJPY continues to have a positive daily and weekly swing bias but is currently experiencing a downside correction.
Thursday’s price action can be viewed as a controlled correction down to the 8 period moving averages. I am monitoring the possibility of a return to the uptrend. However this morning’s has seen an acceleration of the down trend. Therefore there is potential of USDJPY moving down to the 34 period moving averages.

Focus on today
This morning USDJPY is trading below the previous day’s low and within a 78 pip early morning Tokyo session range.

Furthermore currently USDJPYis also trading between the 103.76/103.98 to 105.23/105.44 price congestion areas.

AS USDJPY is trading between the 103.76/103.98 to 105.23/105.44 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 103.76/103.98 to 105.23/105.44 levels for the rest of the day.

Key intraday levels
USDJPY: 103.76, 103.98, 105.23, 105.44.



USDCHF

usdchfdaily_zps7b325966.png


Yesterday’s summary
Yesterday’s trading saw USDCHF end the session 70 pips higher from its open whilst trading a 119 pip range.

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

Thursday’s price action saw USDCHF trade aggressively higher as the price action broke above the 8 period moving averages. I am monitoring the price action as it trades around the down trend line and 34 period moving averages. A bounce off this area could possibly indicate a resumption of the down trend however a break above this area could potentially indicate an acceleration of upside momentum.

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

Furthermore currently USDCHF is this morning trading within the 0.8986/ 0.9028 previous day range high.

AS USDCHF is trading between the 0.8986/ 0.9028 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 within the 0.8986/ 0.9028 area for the rest of the session.

Key intraday levels
USDCHF: 0.8798, 0.8844, 0.8986, 0.9028.
 

acfx

Broker Representative
EURUSD


eurusddaily.png


Yesterday’s summary

Yesterday’s trading saw EURUSD end the session 32 pips higher from its open whilst trading a 87 pip range.
Market overview
Following the breach of the 25th October pivot high the swing bias is now positive on both the daily and weekly time frames. However the recent bearish price action has led to the averages crossing negatively.
Thursday’s price action saw EURUSD trade down to the upward trend line where it found strong support. The effect was for EURUSD to trade and close higher. I am this morning monitoring the possibility that yesterdays move follows through into today’s trading day and for EURUSD trade higher. However a breach of trend line support could see EURUSD could see EURUSD trade down to the 1.3525 level which is a prior congestion area.
Focus on today
This morning EURUSD is trading within the previous day’s range and within a 17 pip early morning Tokyo session range.
Furthermore currently EURUSD is this morning trading within the 1.3546/1.3633 previous day range low.
AS EURUSD is trading between the 1.3546/1.3633 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 1.3546/1.3633 area for the rest of the session.

GBPUSD


gbpusddaily.png


Yesterday’s summary

Yesterday’s trading saw GBPUSD end the session 33 pips higher from its open whilst trading a 59 pip range.
Market overview
The price action continues to have a positive daily swing bias on both daily and weekly time frames. Following a correction down Fibonacci and trend line support it would appear that GBPUSD is attempting to resume its prior up trend.
Thursday’s price action saw GBPUSD continue to trade higher as it shadows the 8 period moving averages. This morning I am monitoring the possibility of a higher values for GBPUSD during today’s trading day. However a breach of yesterday’s low could see GBPUSD trade down to trend line support.
Focus on today
This morning GBPUSD is trading within the previous day’s range and within a 10 pip early morning Tokyo session range.
Furthermore currently GBPUSD is also trading between the 1.6336/1.6380 to 1.6570/1.6603 price congestion areas.
AS GBPUSD is trading between the 1.6336/1.6380 to 1.6570/1.6603 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 1.6380 to 1.6570 levels for the rest of the day.

USDJPY


usdjpydaily.png


Yesterday’s summary

Yesterday’s trading saw USDJPY end the session unchanged from its open whilst trading a 48 pip range.
Market overview
USDJPY continues to have a positive daily and weekly swing bias. After experiencing a minor controlled correction it would appear that USDJPY is attempting to resume its prior positive trend.
Thursday’s was a quiet day for USDJPY as it traded and closed around the 8 period moving averages. The price action this morning has opened up within yesterday’s range. A break above yesterday’s high or low could indicate the possible market direction for the day.
Focus on today
This morning USDJPYis trading within the previous day’s range and within a 20 pip early morning Tokyo session range.
Furthermore currently USDJPYis also trading between the 103.90/104.36 to 105.23/105.44 price congestion areas.
AS USDJPY is trading between the 103.90/104.36 to 105.23/105.44 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 104.36 to 105.23 levels for the rest of the day.

USDCHF


usdchfdaily.png


Yesterday’s summary

Yesterday’s trading saw USDCHF end the session 37 pips lower from its open whilst trading a 62 pip range.
Market overview
USDCHF continues to have a negative daily and weekly swing bias however the recent prices action has seen USDCHF appreciate. The recent move has lead to the averages crossing positively.
Thursday’s price action finally saw USDCHF the first strong bearish activity in 8 days of trading. I am this morning monitoring the possibility of USDCHF resuming its daily and weekly down trend. However a sustained move back into the previous two days range high could see USDCHF continue with the recent positive correction.
Focus on today
This morning USDCHF is trading below the previous day’s low and within a 15 pip early morning Tokyo session range.
Furthermore currently USDCHF is this morning trading within the 0.9076/0.9127 previous day range high.
AS USDCHF is trading just above/beneath/between the 0.9076/0.9127 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 within the 0.9076/0.9127 area for the rest of the session.
 

acfx

Broker Representative
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acfx

Broker Representative
Daily Technical Analysis
10th March 2014



EURUSD


eurusddaily_zps80bc1d4a.png
[/URL][/IMG]

Friday summary

Friday traded a volatile session. This was mainly due to the US jobs report. However the price action did test and breach for a brief time the the high of the 27th December candle at 1.3893.

Market overview

EURUSD continues to trade in a daily uptrend following the breach of the 1.3741 level being the 24th January swing high has effectively changed the daily trend to up. This price action has put the daily time frame in gear with the positive weekly trend.

Focus on today

This morning EURUSD has opened quietly and trading within the previous days range.
I am this morning monitoring the price action for a potential retest of the 1.3893 level
Alternatively if EURUSD fails to sustain a move higher there is a possibility the price action trades back up to the 8 period moving averages.




GBPUSD

gbpusddaily_zpsa3c56ba9.png
[/URL][/IMG]

Friday summary

Friday trading saw GBPUSD continue to find support at the 8 period moving averages.

Market overview

GBPUSD has traded above the 1.6668 being the prior isolated pivot high. This price activity has effectively changed the daily trend to up and puts it in line with the bullish weekly outlook.

Focus on today

This morning GBPUSD has opened quietly as the price action trades within the range of the previous day’s candle.
I am today monitoring the price action for a possible breach of 1.6822 levels being last week’s high.
Alternatively if GBPUSD cannot sustain higher prices could see the price action potentially move back to the 34 period moving averages.



USDJPY

usdjpydaily_zps72431b00.png
[/URL][/IMG]

Friday summary

Friday USDJPY continued to trade higher before being turned back at the 103.74 resistance level.

Market overview

The breach of the 102.83 level being the swing high of the 21st February has effectively changed the daily trend to up and therefore putting this time frame into gear with the bullish weekly time frame.

Focus on today

This morning USDJPY is trading at the lows of the previous day’s range.
Today I am monitoring USDJPY for a possible retest of the 103.74 level.
Alternatively a failure to sustain higher prices could see USDJPY trade back to the averages.



USDCHF

usdchfdaily_zps669bf294.png
[/URL][/IMG]

Friday summary

Friday USDCHF continued to trade lower as it traded down to the a previously broken down trend line.

Market overview

USDCHF continues to trade in a negative daily and weekly swing bias.

Focus on today

This morning USDCHF has opened negatively as the price action trades within Friday range.
Today I am monitoring the price action for a sustained move beneath the 0.8776 level being the 28th February low.
Alternatively as the price action is now extended from its averages and with USDCHF trading at a previous broken trend line there is a possibility that we see a corrective bounce.
 

acfx

Broker Representative
Daily Technical Analysis
11th March 2014


EURUSD


eurusddaily_zps384994ef.png




Summary

Monday EURUSD traded within Friday’s range as the price action continued to test the high of the 27th December candle at 1.3893.
Market overview
EURUSD continues to trade in a daily uptrend following the breach of the 1.3741 level being the 24th January swing. This price action has put the daily time frame in gear with the positive weekly trend.
Focus on today
This morning EURUSD has opened negativly as it tests the bottom of Friday’s range.

I am this morning monitoring the price action for a potential retest of the 1.3893 level
Alternatively if EURUSD fails to sustain a move higher there is a possibility the price action trades back up to the 8 period moving averages.

GBPUSD


gbpusddaily_zps7394c853.png




Summary

Monday GBPUSD broke down from the 8 period moving averages as the price action breached the 1.6639 level being the recen daily pivot low.
Market overview
GBPUSD has traded above the 1.6668 being the prior isolated pivot high. This price activity has effectively changed the daily trend to up and puts it in line with the bullish weekly outlook.
Focus on today
This morning GBPUSD has opened neutral as the price action trades at the bottom of the range of the previous day’s candle.
I am today monitoring the price action for a possible test of the 34 period moving averages.
Alternatively if GBPUSD cannot sustain lower prices could see the price action potentially trade up to the 8 period moving averages.

USDJPY


usdjpydaily_zpsf8cc7436.png




Summary

Monday USDJPY traded within the range of Friday’s candle as price action traded between the 8 period moving averages and the 103.74 resistance level.
Market overview
The breach of the 102.83 level being the swing high of the 21st February has effectively changed the daily trend to up and therefore putting this time frame into gear with the bullish weekly time frame.
Focus on today
This morning USDJPY is trading at the highs of the previous day’s range.
Today I am monitoring USDJPY for a possible retest of the 103.74 level.
Alternatively a failure to sustain higher prices could see USDJPY trade back to the averages.

USDCHF



usdchfdaily_zpsd4f73c7e.png



Summary

Monday USDCHF trade within Monday’s candle as the price action tested but failed to sustain a move beneath the previously broken down trend line.
Market overview
USDCHF continues to trade in a negative daily and weekly swing bias.
Focus on today
This morning USDCHF has opened positively as the price action trades above Mondays range.
Today I am monitoring the price action for a test of the 8 period moving averages.
Alternatively a failure to sustain higher prices could see USDCHF test the 0.8755 level being the last isolated low.
 

acfx

Broker Representative
Daily Technical Analysis
12th March 2014



EURUSD


eurusddaily_zps4d3b51bd.png


Summary

Tuesday EURUSD traded within Monday’s range as the price action test 1.3835 support level.
Market overview
EURUSD continues to trade in a daily uptrend following the breach of the 1.3741 level being the 24th January swing. This price action has put the daily time frame in gear with the positive weekly trend.
Focus on today
This morning EURUSD has opened neutral as it trades within Friday’s range.

I am this morning monitoring the price action for a potential retest of the 1.3893 level
Alternatively if EURUSD fails to sustain a move higher there is a possibility the price action trades back up to the 8 period moving averages.



GBPUSD

gbpusddaily_zpsfbcaffef.png


Summary

Tuesday GBPUSD continued its recent downward trajectory but eventually found support coming in at the 8 period moving averages.
Market overview
GBPUSD has traded above the 1.6668 being the prior isolated pivot high. This price activity has effectively changed the daily trend to up and puts it in line with the bullish weekly outlook. However the breach the 1.6639 level being the recen daily pivot low has added a question to the overall health of the uptrend.
Focus on today
This morning GBPUSD has opened neutral as the price action trades within the range of the previous day’s candle.
I am today monitoring the price action for a possible test of the 34 period moving averages.
Alternatively if GBPUSD cannot sustain lower prices could see the price action potentially trade up to the 8 period moving averages.


USDJPY

usdjpydaily_zps79cb2b73.png


Summary

Tuesday USDJPY continued to trade within the range of 8 period moving averages and the 103.74 resistance level.
Market overview
The breach of the 102.83 level being the swing high of the 21st February has effectively changed the daily trend to up and therefore putting this time frame into gear with the bullish weekly time frame.
Focus on today
This morning USDJPY is trading at the highs of the previous day’s range.
Today I am monitoring USDJPY for a possible retest of the 103.74 level.
Alternatively a failure to sustain higher prices could see USDJPY trade back to the averages.



USDCHF

usdchfdaily_zpsa90043c0.png


Summary

Tuesday USDCHF continued to trade within the range of the previous 3 day’s candle.
Market overview
USDCHF continues to trade in a negative daily and weekly swing bias.
Focus on today
This morning USDCHF has opened positively as the price action trades within yesterday’s range.
Today I am monitoring the price action for a test of the 8 period moving averages.
Alternatively a failure to sustain higher prices could see USDCHF test the 0.8755 level being the last isolated low.
 

acfx

Broker Representative
Daily Technical Analysis
13th March 2014



EURUSD


eurusddaily_zps4d3b51bd.png


Summary

Wednesday EURUSD traded higher as the price action broke and closed above the 1.3893 resistance level.

Market overview

EURUSD continues to trade in a daily uptrend following the breach of the 1.3741 level being the 24th January swing. This price action has put the daily time frame in gear with the positive weekly trend.

Focus on today

This morning EURUSD has opened positivley as it trades above the 1.3915 level being the most recent high pivot.

I am this morning monitoring the price action for a potential for a test of the 1.4000 level.
Alternatively if EURUSD fails to sustain a move higher there is a possibility the price action trades back up to the 8 period moving averages.



GBPUSD

gbpusddaily_zpsfbcaffef.png


Summary

Wedday GBPUSD continued to find support coming in at the 8 period moving averages.

Market overview

GBPUSD has traded above the 1.6668 being the prior isolated pivot high. This price activity has effectively changed the daily trend to up and puts it in line with the bullish weekly outlook. However the breach the 1.6639 level being the recen daily pivot low has added a question to the overall health of the uptrend.

Focus on today

This morning GBPUSD has opened positively as the price action trades at 34 period moving average support areas.
I am today monitoring the price action for a possible test of the 8 period moving averages.
Alternatively if GBPUSD cannot sustain higher prices could see the price action once again trade back to the 34 period moving averages.


USDJPY

usdjpydaily_zps79cb2b73.png


Summary

Wednesday USDJPY continued to trade within the range of 8 period moving averages and the 103.74 resistance level.

Market overview

The breach of the 102.83 level being the swing high of the 21st February has effectively changed the daily trend to up and therefore putting this time frame into gear with the bullish weekly time frame.

Focus on today

This morning USDJPY has breach the 8 period moving averages as the downside correction gathers pace.
Today I am monitoring a potential move back to the 34 period moving averages.
Alternatively a failure to sustain lower prices could see USDJPY retest of the 103.74 level.



USDCHF

usdchfdaily_zpsa90043c0.png


Summary

Wednesday USDCHF finally broke under the 0.8755 level as the downtrend resumed.

Market overview

USDCHF continues to trade in a negative daily and weekly swing bias.

Focus on today

This morning USDCHF has opened negatively as the price action trades beneath yesterday’s range.
Today I am monitoring the price action for a continuation of the move lower and possibly to the 0.8875 level.
Alternatively a failure to sustain lower prices could see USDCHF trade back up to the 8 period moving averages.



Gold

golddaily_zps349da793.png


Summary

Wednesday Gold traded higher as the price action bounce off a recent pullback to the 8 period moving averages.

Market overview

Gold continues to trade in a daily uptrend following the breach of the 1.267.99 level being the swing high of the 10th December. The weekly time frame continues to point down however we have witnessed a large multi month double bottom forming which could indicate a large upside trend reversal is a possibility. However first Gold will need to break above the large downward sloping trend line.

Focus on today

This morning USDCHF has opened positively as the price action trades up to the downward sloping trend line.
Today I am monitoring the price action for a continuation of the move higher and a potential breach of the downward sloping trend line.
Alternatively a failure to sustain higher prices could see Gold trade back up to the 8 period moving averages.
 

acfx

Broker Representative
Daily Technical Analysis
14th March 2014



EURUSD


eurusddaily_zps1d8d6787.png


Summary

Thursday EURUSD experience a volatile trading session with the price action almost engulfing the prior days range.

Market overview

EURUSD continues to trade in a daily uptrend following the breach of the 1.3741 level being the 24th January swing. This price action has put the daily time frame in gear with the positive weekly trend.

Focus on today

This morning EURUSD has opened negativley as it trades at the lows of the previous days range and just above the 1.3835 suppor level.

I am this morning monitoring the price action for a potential for a test of the 1.4000 level.
Alternatively if EURUSD fails to resume its upward momentum there is a possibility the price action test support and trades back up to the 34 period moving averages.


GBPUSD

gbpusddaily_zps043e7a4f.png


Summary

Thursday GBPUSD tested the 8 period moving averages following a bounce off the 34 period moving averages.

Market overview

GBPUSD has traded above the 1.6668 being the prior isolated pivot high. This price activity has effectively changed the daily trend to up and puts it in line with the bullish weekly outlook. However the breach the 1.6639 level being the recent daily pivot low has added a question to the overall health of the uptrend.

Focus on today

This morning GBPUSD has opened quietly as the price action trades between both moving average support areas.
I am today monitoring the price action for a possible test of the 8 period moving averages.
Alternatively if GBPUSD cannot sustain higher prices could see the price action once again test the 34 period moving averages.



USDJPY

usdjpydaily_zps4a678d31.png


Summary

Thursday USDJPY broke down from moving average support as the price action traded back into the direction 101.00 level.

Market overview

The breach of the 102.83 level being the swing high of the 21st February has effectively changed the daily trend to up and therefore putting this time frame into gear with the bullish weekly time frame.

Focus on today

This morning USDJPY has opened negatively as the price action trades at the lows of the previous day’s range.
Today I am monitoring a potential test of the 101.00 level.
Alternatively a failure to sustain lower prices could see USDJPY trade back up to the averages.



USDCHF

usdchfdaily_zps6bee9719.png


Summary

Thursday USDCHF bouced higher as the price action became extended from its averages.

Market overview

USDCHF continues to trade in a negative daily and weekly swing bias.

Focus on today

This morning USDCHF has opened positively as the price action trades at the highs of yesterday’s range.
Today I am monitoring the price action for a continuation of the move back up to the 8 period moving averages.
Alternatively a failure to sustain higher prices could see USDCHF test the 0.8875 level.



Gold

golddaily_zpsd395e8ba.png


Summary

Thursday Gold traded higher as the price action tested the downward sloping trendline.

Market overview

Gold continues to trade in a daily uptrend following the breach of the 1267.99 level being the swing high of the 10th December. The weekly time frame continues to point down however we have witnessed a large multi month double bottom forming which could indicate a large upside trend reversal is a possibility. However first Gold will need to break above the large downward sloping trend line.

Focus on today

This morning Gold has opened quietly as the price action tests up to the downward sloping trend line.
Today I am monitoring the price action for a continuation of the move higher and a potential breach of the downward sloping trend line.
Alternatively a failure to sustain higher prices could see Gold trade back up to the 8 period moving averages.


Oil

wtidaily_zpsfa634ade.png


Summary

Thursday Oil traded at the lows of then previous days candle in what was a relativley small range day.

Market overview

Oil continues to trade in a daily uptrend following the breach of the 100.72 level being the swing high of the 24th December. The daily and weekly times both have a positive bias.

Focus on today

This morning Oil has opened quietly as the price action trades within the previous day’s range.

Today I am monitoring the price action for a continuation of the move lower and into the direction of the 95.50 level.
Alternatively a failure to sustain lower prices could see Oil trade back up to the 8 period moving averages.
 

acfx

Broker Representative
Daily Technical Analysis
17th March 2014




EURUSD


eurusddaily_zpsfc01a6b7.png


Summary

Friday EURUSD found support at the 8 period moving averages from where it traded and closed higher.

Market overview

EURUSD continues to trade in a daily uptrend following the breach of the 1.3741 level being the 24th January swing. This price action has put the daily time frame in gear with the positive weekly trend.

Focus on today

This morning EURUSD has opened quietly as it trades at the highs of the previous days range and just above the 1.3982 price level which corresponds to the 27th December isolated high.

I am this morning monitoring the price action for a potential for a test of the 1.4000 level.
Alternatively if EURUSD fails to resume its upward momentum there is a possibility the price action test support and trades back up to the 8 period moving averages.


GBPUSD

gbpusddaily_zpsb709ad90.png


Summary

Friday GBPUSD traded throuhout the day between the 8 and 34 period moving averages.


Market overview

GBPUSD has traded above the 1.6668 being the prior isolated pivot high. This price activity has effectively changed the daily trend to up and puts it in line with the bullish weekly outlook. However the breach the 1.6639 level being the recent daily pivot low has added a question to the overall health of the uptrend.

Focus on today

This morning GBPUSD has opened quietly as the price action trades between both moving average support areas.
I am today monitoring the price action for a possible test of the 8 period moving averages.
Alternatively if GBPUSD cannot sustain higher prices could see the price action once again test the 34 period moving averages.



USDJPY

usdjpydaily_zps0e28206a.png


Summary

Friday USDJPY continued to trade lower as the price action tested the 101 support area.

Market overview

The breach of the 102.83 level being the swing high of the 21st February has effectively changed the daily trend to up and therefore putting this time frame into gear with the bullish weekly time frame.

Focus on today

This morning USDJPY has opened positively as the price action away from the 101.00 level.
Today I am monitoring a potential move to the 34 period moving averages.
Alternatively a failure to sustain higher prices could see USDJPY test the 101.00 level.


USDCHF

usdchfdaily_zpsac49ad7a.png


Summary

Friday USDCHF traded throughout the day within Thursday’s range.

Market overview

USDCHF continues to trade in a negative daily and weekly swing bias.

Focus on today

This morning USDCHF has opened positively as the price action trades within a two day range.

Today I am monitoring the price action for a test of the 8 period moving averages.
Alternatively a failure to sustain higher prices could see USDCHF test the 0.8875 level.


Gold

golddaily_zpsd98b4a8e.png


Summary

Friday Gold traded and closed higher as the price action succesfullty tested the downward sloping trendline.

Market overview

Gold continues to trade in a daily uptrend following the breach of the 1267.99 level being the swing high of the 10th December. The weekly time frame continues to point down however we have witnessed a large multi month double bottom forming which could indicate a large upside trend reversal is a possibility. The break above the large downward sloping trend line adds impetus to the current positive bias.

Focus on today

This morning Gold has opened positively as the price trades above Friday’s range.

Today I am monitoring the price action for a continuation of the move higher and into the direction of the 1433.70 level the 28th August high.
Alternatively a failure to sustain higher prices could see Gold trade back up to the 8 period moving averages.


Oil

wtidaily_zps8dcb3627.png


Summary

Friday Oil bounce higher as the price action makes an attempt to retrace to the 8 period moving averages.

Market overview

Oil continues to trade in a daily uptrend following the breach of the 100.72 level being the swing high of the 24th December. The daily and weekly times both have a positive bias.

Focus on today

This morning Oil has opened quietly as the price action trades at the highs of Friday’s range.

Today I am monitoring the price action for a continuation of the move to the 8 period moving averages.
Alternatively a failure to sustain higher prices could see Oil trade back down to the 97.53 level being last week’s low.
 

acfx

Broker Representative
Daily Technical Analysis
18th March 2014



EURUSD


eurusddaily_zps6f95f65e.png


Summary

Monday EURUSD continued to trade higher following its bounce off support at the 8 period moving averages.

Market overview

EURUSD continues to trade in a daily uptrend following the breach of the 1.3741 level being the 24th January swing. This price action has put the daily time frame in gear with the positive weekly trend.

Focus on today

This morning EURUSD has opened positivly as it trades at the highs of the previous days range and just above the 1.3982 price level which corresponds to the 27th December isolated high.

I am this morning monitoring the price action for a potential for a test of the 1.4000 level.
Alternatively if EURUSD fails to resume its upward momentum there is a possibility the price action test support and trades back up to the 8 period moving averages.



GBPUSD

gbpusddaily_zpse829e27c.png


Summary

Monday GBPUSD traded throuhout the day between the 8 and 34 period moving averages.

Market overview

GBPUSD has traded above the 1.6668 being the prior isolated pivot high. This price activity has effectively changed the daily trend to up and puts it in line with the bullish weekly outlook. However the breach the 1.6639 level being the recent daily pivot low has added a question to the overall health of the uptrend.

Focus on today

This morning GBPUSD has opened quietly as the price action trades between both moving average support areas.
I am today monitoring the price action for a possible test of the 8 period moving averages.
Alternatively if GBPUSD cannot sustain higher prices could see the price action once again test the 34 period moving averages.



USDJPY

usdjpydaily_zpsb7c5b8a5.png


Summary

Monday USDJPY traded higher following a bounce off the 101 support area.

Market overview

The breach of the 102.83 level being the swing high of the 21st February has effectively changed the daily trend to up and therefore putting this time frame into gear with the bullish weekly time frame.

Focus on today

This morning USDJPY has opened positively as the price action trades at the highs of the previous day’s range.
Today I am monitoring a potential move to the 34 period moving averages.
Alternatively a failure to sustain higher prices could see USDJPY test the 101.00 level.



USDCHF

usdchfdaily_zps3450dc2e.png



Summary

Monday USDCHF traded throughout the day within the range of the previous 2 days.

Market overview

USDCHF continues to trade in a negative daily and weekly swing bias.

Focus on today

This morning USDCHF has opened quietly as the price action trades within a 3 day range.

Today I am monitoring the price action for a test of the 8 period moving averages.
Alternatively a failure to sustain higher prices could see USDCHF test the 0.8875 level.



GOLD

golddaily_zps86698955.png



Summary

Monday Gold initially extended its move above the downward sloping trendline. However later in the day selling came into the market. This would lead to Gold breacing and closing beneath the downward sloping trendline.

Market overview

Gold continues to trade in a daily uptrend following the breach of the 1267.99 level being the swing high of the 10th December. The weekly time frame continues to point down however we have witnessed a large multi month double bottom forming which could indicate a large upside trend reversal is a possibility. The break above the large downward sloping trend line adds impetus to the current positive bias.

Focus on today

This morning Gold has opened negatively as the price action trades down to the 8 period moving average support levels.

Today I am monitoring the price action for a retest of the downward sloping trendline and possible continuation of the move higher and into the direction of the 1433.70 level the 28th August high.
Alternatively a failure to sustain higher prices could see Gold test the 8 period moving averages.



OIL

wtidaily_zps55efd968.png


Summary

Monday Oil continue to experience a minor rally that led to a higher close. However failed to test the 8 period moving averages.

Market overview

Oil continues to trade in a daily uptrend following the breach of the 100.72 level being the swing high of the 24th December. The daily and weekly times both have a positive bias.

Focus on today

This morning Oil has opened negatively with the price action testing the 97.53 level being last week’s low.
Today I am monitoring the price action for a breach of the 97.53 level being last week’s low.
Alternatively a failure to sustain lower prices could see Oil trade back up to the 8 period moving averages.
 

acfx

Broker Representative
Daily Technical Analysis
19th March 2014



EURUSD


eurusddaily_zpsb2f4739c.png


Summary

Tuesday EURUSD once again tested the 8 period moving averages before popping and closing higher on the day.

Market overview

EURUSD continues to trade in a daily uptrend following the breach of the 1.3741 level being the 24th January swing. This price action has put the daily time frame in gear with the positive weekly trend.

Focus on today

This morning EURUSD has opened negativley as it trades at the highs of the previous days range and just above the 1.3895 price level which corresponds to the 27th December isolated high.

I am this morning monitoring the price action for a potential for a test of the 1.4000 level.
Alternatively if EURUSD fails to resume its upward momentum there is a possibility the price action test support and trades back up to the 8 period moving averages.



GBPUSD

gbpusddaily_zpsc93da2cc.png


Summary

Tuesday GBPUSD breached the 34 period moving averages and the 1.6570 support level before ending the days business down on the day but above these key support levels.

Market overview

GBPUSD has traded above the 1.6668 being the prior isolated pivot high. This price activity has effectively changed the daily trend to up and puts it in line with the bullish weekly outlook. However the breach the 1.6639 level being the recent daily pivot low has added a question mark to the overall health of the uptrend.

Focus on today

This morning GBPUSD has opened quietly as the price action trades within the range of the previous days candle and beneath the 34 period moving averages.
I am today monitoring the price action for a possible test of the 1.6570 level.
Alternatively if GBPUSD cannot sustain lower prices could see the price action once again test the 1.6700.




USDJPY

usdjpydaily_zpsda91a43d.png


Summary

Tuesday USDJPY traded lower as it once again attempted to test the 101 support area.

Market overview

The breach of the 102.83 level being the swing high of the 21st February has effectively changed the daily trend to up and therefore putting this time frame into gear with the bullish weekly time frame. However a breach of the 101.19 level being the 4th March swing low would technically change the daily trend to down.

Focus on today

This morning USDJPY has opened positively as the price action trades within the range of the previous 4 day’s candles.
Today I am monitoring a potential test of the 101 level.
Alternatively a failure to sustain lower prices could see USDJPY trade up to the 34 period moving averages.




USDCHF

usdchfdaily_zps6b0a1eba.png


Summary

Tuesday USDCHF once again tested the 8 period moving averages however there was a rejection of higher prices and the price action eventually closed near to its open.

Market overview

USDCHF continues to trade in a negative daily and weekly swing bias.

Focus on today

This morning USDCHF has opened quietly as the price action trades within a 4 day range.

Today I am monitoring the price action for a re-test of the 8 period moving averages.
Alternatively a failure to sustain higher prices could see USDCHF test the 0.8875 level.



GOLD

golddaily_zps686f8cb8.png


Summary

Tuesday Gold continued to correctly to the downside and ultimatley closed beneath its 8 period moving averages.

Market overview

Gold continues to trade in a daily uptrend following the breach of the 1267.99 level being the swing high of the 10th December. The weekly time frame continues to point down however we have witnessed a large multi month double bottom forming which could indicate a large upside trend reversal is a possibility. The break above the large downward sloping trend line adds impetus to the current positive bias. However the subsequent corrections lower needs to be monitored with support coming in at the 1320.00 level.

Focus on today

This morning Gold has opened negatively as the price action trades beneath the 8 period moving average and within the range of yesterday’s candle.
Today I am monitoring the price action for a test of the 8 period moving averages.
Alternatively a failure to sustain higher prices could see Gold trade into the direction of the 1320.00 support area.



OIL

wtidaily_zpsaf36b867.png


Summary

Tuesday Oil continue to trade in a narrow range as it tested the 8 period moving averages.

Market overview

Oil continues to trade in a daily uptrend following the breach of the 100.72 level being the swing high of the 24th December. The daily and weekly times both have a positive bias. The recent price activity has see Oil trade down to an area of Fibonacci support which could potentially offer a buying opportunity.

Focus on today

This morning Oil has opened quietly with the price action trading within the previous day’s range.
Today I am monitoring the price action for a breach of the 97.53 level being last week’s low.
Alternatively a failure to sustain lower prices could see Oil trade back up to the 8 period moving averages.
 

acfx

Broker Representative
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acfx

Broker Representative
Daily Technical Analysis
20th March 2014





EURUSD

eurusddaily_zpscc2e007a.png



Summary

Wednesday EURUSD broke lower from the 1.3895 support it what was an impressive one day correction.

Market overview

EURUSD continues to trade in a daily uptrend following the breach of the 1.3741 level being the 24th January swing. This price action has put the daily time frame in gear with the positive weekly trend.

Focus on today

This morning EURUSD has opened positivley as it trades at the lows of the previous days range.
I am this morning monitoring the price action for a potential move lower and a test of 34 period moving averages.
Alternatively if EURUSD fails to sustain lower prices here is a possibility that EURUSD trades back up to the 1.3895 resistance level.



GBPUSD

gbpusddaily_zps0ce2dd6d.png


Summary

Wednesday GBPUSD continued to traded under the 34 period moving averages and the 1.6570 support level and at one point was testing the upward sloping trend line.

Market overview

GBPUSD has traded above the 1.6668 being the prior isolated pivot high. This price activity has effectively changed the daily trend to up and puts it in line with the bullish weekly outlook. However the breach the 1.6639 level being the recent daily pivot low has added a question mark to the overall health of the uptrend. Furthermore breaches of moving average, horizontal and trend line support is adding to the downside pressure. However GBPUSD is now entering an area of Fibonacci support which could stall further downside price action.

Focus on today

This morning GBPUSD has opened quietly as the price action trades within the range of the previous days candle and at the upward sloping trend line.
I am today monitoring the price action for a bounce off trend line support and test of the 1.6570 level.
Alternatively if GBPUSD cannot sustain higher prices could see the price action test the 61.8 Fibonacci level.



USDJPY

usdjpydaily_zps318fb6fd.png


Summary

Wednesday USDJPY bounce higher off the 101 support level in what turned out to be a strong rally.

Market overview

The breach of the 102.83 level being the swing high of the 21st February has effectively changed the daily trend to up and therefore putting this time frame into gear with the bullish weekly time frame. However a breach of the 101.19 level being the 4th March swing low would technically change the daily trend to down.

Focus on today

This morning USDJPY has opened quietly as the price action trades at the highs of the previous day’s range.
Today I am monitoring a potential test of the 103.00 level.
Alternatively a failure to sustain higher prices could see USDJPY test the 101.70 level.



USDCHF

usdchfdaily_zps0042e5c0.png


Summary

Wednesday USDCHF slashed through the 8 period moving averages as the price action traded aggressivley higher.

Market overview

USDCHF continues to trade in a negative daily and weekly swing bias.

Focus on today

This morning USDCHF has opened quietly as the price action trades at the highs of the previous day’s range.

Today I am monitoring the price action for a test of the 34 period moving averages.
Alternatively a failure to sustain higher prices could see USDCHF trade back to the 8 period moving averages.


GOLD

golddaily_zps1e69a6be.png


Summary

Wednesday the downside moment for Gold increased broke down aggressivley lower. The move lower has put the upward sloping trend line insight.

Market overview

Gold continues to trade in a daily uptrend following the breach of the 1267.99 level being the swing high of the 10th December. The break above the large downward sloping trend line adds impetus to the current positive swing bias. Furthermore we have witnessed a large multi month double bottom forming which could indicate a large upside trend reversal is a possibility.
However the weekly time frame continues to point down. That the recent rejection of higher prices has come off a bounce from a downward sloping trend line and Fibonacci resistance level could indicate that the recent rally in Gold is part of a bigger cycle correction that ultimately sends Gold lower.

Focus on today

This morning Gold has opened quietly as the price action trades at the bottom of yesterdays range.

Today I am monitoring the price action for a potential bounce off the upward sloping trend line.
Alternatively a failure to sustain higher prices could see Gold test the upward trend line and move to the area of 1310 being a prior daily minor swing low.


OIL

wtidaily_zps851639df.png


Summary

Wednesday Oil continue to trade between the 98 and 100 range as the price action consolidates above Fibonacci support.

Market overview

Oil continues to trade in a daily uptrend following the breach of the 100.72 level being the swing high of the 24th December. The daily and weekly times both have a positive bias. The recent price activity has seen Oil trade down to an area of Fibonacci support which could potentially offer a buying opportunities.

Focus on today

This morning Oil has opened positively with the price action trading above the previous day’s range.
Today I am monitoring the price action for a breach of the 100 level.
Alternatively a failure to sustain higher prices could see Oil trade back up to the 98 level.
 

acfx

Broker Representative
Daily Technical Analysis
21st March 2014



EURUSD

eurusddaily_zpsb52041e5.png



Summary

Thursday EURUSD continued to trade lower throughout the day’s trading nut the slide was halted at the 34 period moving where we witnessed a minor bounce higher.

Market overview

EURUSD continues to trade in a daily uptrend following the breach of the 1.3741 level being the 24th January swing. This price action has put the daily time frame in gear with the positive weekly trend. However the recent correction has seen EURUSD trade back to its long average and just above the 50 to 78.6 Fibonacci support level.

Focus on today

This morning EURUSD has opened positivley as it trades at the lows of the previous days range.
I am this morning monitoring the price action for a potential move lower and a test of 34 period moving averages.
Alternatively if EURUSD fails to sustain lower prices here is a possibility that EURUSD trades back up to the 1.3895 resistance level.



GBPUSD

gbpusddaily_zpsf4e208de.png


Summary

Thursday GBPUSD continued to traded under the 34 period moving averages and the 1.6570 support level and has now broken under the upward sloping trend line.

Market overview

GBPUSD has traded above the 1.6668 being the prior isolated pivot high. This price activity has effectively changed the daily trend to up and puts it in line with the bullish weekly outlook. However the breach the 1.6639 level being the recent daily pivot low has added a question mark to the overall health of the uptrend. Furthermore breaches of moving average, horizontal and trend line support is adding to the downside pressure. However GBPUSD is now entering an area of Fibonacci support which could stall further downside price action.

Focus on today

This morning GBPUSD has opened quietly as the price action trades within the range of the previous days candle and beneath the upward sloping trend line.
I am today monitoring the price action for a bounce off Fibonacci support and test of the 1.6570 level.
Alternatively if GBPUSD cannot sustain higher prices could see the price action test the 78.6 Fibonacci level.




USDJPY

usdjpydaily_zpsb37fd7bc.png


Summary

Thursday USDJPY experienced a small range day as it traded at the highs to the recent up spike in prices.

Market overview

The breach of the 102.83 level being the swing high of the 21st February has effectively changed the daily trend to up and therefore putting this time frame into gear with the bullish weekly time frame. However a breach of the 101.19 level being the 4th March swing low would technically change the daily trend to down. The recent price is now indicating that the 101.00 support level is likely to hold.

Focus on today

This morning USDJPY has opened quietly as the price action trades at the highs of Wednesdays range.
Today I am monitoring a potential test of the 103.00 level.
Alternatively a failure to sustain higher prices could see USDJPY test the 101.70 level.




USDCHF

usdchfdaily_zps3527e11e.png


Summary

Thursday USDCHF traded higher and its upward moment was only ended at the 34period moving averages.

Market overview

USDCHF continues to trade in a negative daily and weekly swing bias but the recent price action is beginning to take on a bullish feel to it. I am therefore monitoring signs for a base to built that will allow for further upside at least to the downward sloping trend line. However the bias does continue to be fixed to the downside therefore shorting rallies is still probably the most logical strategy to adopt.

Focus on today

This morning USDCHF has opened quietly as the price action trades within the previous day’s range.

Today I am monitoring the price action for a retest of the 34 period moving averages.
Alternatively a failure to sustain higher prices could see USDCHF trade back to the 8 period moving averages.



Gold

golddaily_zps4556b49b.png


Summary

Thursday Gold traded down to the 34 period moving averages and upward sloping trendline but was not able to break through this support are.

Market overview

Gold continues to trade in a daily uptrend following the breach of the 1267.99 level being the swing high of the 10th December. The break above the large downward sloping trend line adds impetus to the current positive swing bias. Furthermore we have witnessed a large multi month double bottom forming which could indicate a large upside trend reversal is a possibility.
However the weekly time frame continues to point down. That the recent rejection of higher prices has come off a bounce from a downward sloping trend line and Fibonacci resistance level could indicate that the recent rally in Gold is part of a bigger cycle correction that ultimately sends Gold lower.

Focus on today

This morning Gold has opened bullishly as the price action trades above yesterdays range.

Today I am monitoring the price action for a potential bounce off the upward sloping trend line.
Alternatively a failure to sustain higher prices could see Gold test the upward trend line and move to the area of 1310 being a prior daily minor swing low.




Oil

wtidaily_zps84761c69.png


Summary

Thursday Oil continue to trade between the 98 and 100 range as the price action consolidates above Fibonacci support.

Market overview

Oil continues to trade in a daily uptrend following the breach of the 100.72 level being the swing high of the 24th December. The daily and weekly times both have a positive bias. The recent price activity has seen Oil trade down to an area of Fibonacci support which could potentially offer a buying opportunities.

Focus on today

This morning Oil has opened negatively with the price action trading within the previous day’s range.
Today I am monitoring the price action for a breach of the 100 level.
Alternatively a failure to sustain higher prices could see Oil test 98 level.
 

acfx

Broker Representative
Daily Technical Analysis
24th March 2014



EURUSD

eurusddaily_zps14ebf1c5.png


Summary

Friday EURUSD consolidated at the lows of the past two days downside correction and above the 34 period moving averages where we witnessed a minor bounce higher.
Market overview
EURUSD continues to trade in a daily uptrend following the breach of the 1.3741 level being the 24th January swing. This price action has put the daily time frame in gear with the positive weekly trend. However the recent correction has seen EURUSD trade back to its long average and just above the 50 to 78.6 Fibonacci support level.
Focus on today
This morning EURUSD has opened quietly as it trades within the previous two days range.
I am this morning monitoring the price action for a potential move lower and a test of 34 period moving averages.
Alternatively if EURUSD fails to sustain lower prices there is a possibility that EURUSD trades back up to the 8 period moving averages.

GBPUSD


gbpusddaily_zps07abf3a0.png




Summary

Friday GBPUSD continued to traded under the 34 period moving averages, the 1.6570 support level and the upward sloping trend line.

Market overview

GBPUSD has traded above the 1.6668 being the prior isolated pivot high. This price activity has effectively changed the daily trend to up and puts it in line with the bullish weekly outlook. However the breach the 1.6639 level being the recent daily pivot low has added a question mark to the overall health of the uptrend. Furthermore breaches of moving average, horizontal and trend line support is adding to the downside pressure. However GBPUSD is now entering an area of Fibonacci support which could stall further downside price action.

Focus on today

This morning GBPUSD has opened quietly as the price action trades at the lows of this recent downside correction.
I am today monitoring the price action for a bounce off Fibonacci support and test of the 1.6570 level.
Alternatively if GBPUSD cannot sustain higher prices could see the price action test the 78.6 Fibonacci level.




USDJPY

usdjpydaily_zps34055c70.png


Summary

Friday USDJPY experienced a small range day as it traded at the highs to the recent up spike in prices.

Market overview

The breach of the 102.83 level being the swing high of the 21st February has effectively changed the daily trend to up and therefore putting this time frame into gear with the bullish weekly time frame. However a breach of the 101.19 level being the 4th March swing low would technically change the daily trend to down. The recent price action is now indicating that the 101.00 support level is likely to hold.

Focus on today

This morning USDJPY has opened positively as the price action trades above both averages.
Today I am monitoring a potential test of the 103.00 level.
Alternatively a failure to sustain higher prices could see USDJPY test the 101.70 level.



USDCHF

usdchfdaily_zps55008c23.png



Summary

Friday USDCHF consolidated at the highs of the recent upside correction as the price action tests the 34 period moving averages.

Market overview

USDCHF continues to trade in a negative daily and weekly swing bias but the recent price action is beginning to take on a bullish feel to it. I am therefore monitoring signs for a base to built that will allow for further upside at least to the downward sloping trend line. However the bias does continue to be fixed to the downside therefore shorting rallies is still probably the most logical strategy to adopt.

Focus on today

This morning USDCHF has opened positively as the price action trades within the previous two day’s range.

Today I am monitoring the price action for a retest of the 34 period moving averages.
Alternatively a failure to sustain higher prices could see USDCHF trade back to the 8 period moving averages.



Gold

golddaily_zps594e1931.png



Summary

Friday Gold continued to consolidate above the 34 period moving averages and upward sloping trendline.

Market overview

Gold continues to trade in a daily uptrend following the breach of the 1267.99 level being the swing high of the 10th December. The break above the large downward sloping trend line adds impetus to the current positive swing bias. Furthermore we have witnessed a large multi month double bottom forming which could indicate a large upside trend reversal is a possibility.
However the weekly time frame continues to point down. That the recent rejection of higher prices has come off a bounce from a downward sloping trend line and Fibonacci resistance level could indicate that the recent rally in Gold is part of a bigger cycle correction that ultimately sends Gold lower.

Focus on today

This morning Gold has opened bearishly as the price action test support.

Today I am monitoring the price action for a potential bounce off the upward sloping trend line.
Alternatively a failure to sustain higher prices could see Gold test the upward trend line and move to the area of 1310 being a prior daily minor swing low.



Oil

wtidaily_zpsd9524ade.png



Summary

Friday Oil breifly spiked above the 100 level and ended the day fairly strongly but still closed between the 98 and 100 range as the price action continued to consolidated above Fibonacci support.

Market overview

Oil continues to trade in a daily uptrend following the breach of the 100.72 level being the swing high of the 24th December. The daily and weekly times both have a positive bias. The recent price activity has seen Oil trade down to an area of Fibonacci support which could potentially offer a buying opportunities.

Focus on today

This morning Oil has opened negatively with the price action trading within the previous day’s range.
Today I am monitoring the price action for a breach of the 100 level.
Alternatively a failure to sustain higher prices could see Oil test 98 level.




AUDUSD

audusddaily_zps3756e984.png


Summary

Friday AUDUSD closed strong with the price action ending the day above both averages.

Market overview

AUDUSD has been trading in a daily uptrend following the breach of the 0.9080 level being the swing high of the 18th February. However the weekly chart continues to trade in a weekly down trend.

Focus on today

This morning AUDUSD has opened with much activity as the price action initially put in a new high but them collapsed back to the 8 period moving averages where support held and buyers came into the market.
I am this morning monitoring the price action for a potential test of the 0.9137 level being last week’s high.
Alternatively if AUDUSD fails to sustain higher prices there is a possibility that AUDUSD tests the 34 period moving averages.
 

acfx

Broker Representative
Daily Technical Analysis
26th March 2014



EURUSD

eurusddaily_zpse6ce219c.png



Summary

Tuesday EURUSD traded between and tested bo the the 8 and 34 period daily moving averages without being to sustain a break above or beneath either.

Market overview

EURUSD continues to trade in a daily uptrend following the breach of the 1.3741 level being the 24th January swing. This price action has put the daily time frame in gear with the positive weekly trend.

Focus on today

This morning EURUSD has opened quietly as it trades within the previous two days range.
I am this morning monitoring the price action for a potential move higher and a test of 8 period moving averages.
Alternatively if EURUSD fails to sustain higher prices there is a possibility that EURUSD trades back up to the 34 period moving averages.


GBPUSD

gbpusddaily_zps735e4c00.png


Summary

Tuesday GBPUSD continued to traded under the 34 period moving averages, the 1.6570 support level and the upward sloping trend line.

Market overview

GBPUSD has traded above the 1.6668 being the prior isolated pivot high. This price activity has effectively changed the daily trend to up and puts it in line with the bullish weekly outlook. However the breach the 1.6639 level being the recent daily pivot low has added a question mark to the overall health of the uptrend. Furthermore breaches of moving average, horizontal and trend line support is adding to the downside pressure. However GBPUSD is now entering an area of Fibonacci support which could stall further downside price action.

Focus on today

This morning GBPUSD has opened quietly as the price action trades at the lows of this recent downside correction.
I am today monitoring the price action for a bounce off Fibonacci support and test of the 1.6570 resistance level.
Alternatively if GBPUSD cannot sustain higher prices could see the price action test the 78.6 Fibonacci level.



USDJPY

usdjpydaily_zps5e155f5a.png



Summary

Tuesday USDJPY experienced a small range day as it continued to trade at the highs to the recent up spike in prices.

Market overview

The breach of the 102.83 level being the swing high of the 21st February has effectively changed the daily trend to up and therefore putting this time frame into gear with the bullish weekly time frame. However a breach of the 101.19 level being the 4th March swing low would technically change the daily trend to down. The recent price action is now indicating that the 101.00 support level is likely to hold.

Focus on today

This morning USDJPY has opened quietly as the price action trades at both averages.
Today I am monitoring a potential test of the 103.00 level.
Alternatively a failure to sustain higher prices could see USDJPY test the 101.70 level.



USDCHF

usdchfdaily_zps4267248a.png


Summary

Tuesday USDCHF once again tested but could not sustain a close above the 34 period daily moving averages.

Market overview

USDCHF continues to trade in a negative daily and weekly swing bias but the recent price action is beginning to take on a bullish feel to it. I am therefore monitoring signs for a base to built that will allow for further upside at least to the downward sloping trend line. However the bias does continue to be fixed to the downside therefore shorting rallies is still probably the most logical strategy to adopt.

Focus on today

This morning USDCHF has opened quietly as the price action trades within the previous day’s range.

Today I am monitoring the price action for a retest of the 34 period moving averages.
Alternatively a failure to sustain higher prices could see USDCHF trade back to the 8 period moving averages.



Gold

golddaily_zps4d80b99f.png


Summary

Tuesday Gold traded at the lows of the recent large downside correction in what was a very small range day.

Market overview

Gold continues to trade in a daily uptrend following the breach of the 1267.99 level being the swing high of the 10th December. The break above the large downward sloping trend line adds impetus to the current positive swing bias. Furthermore we have witnessed a large multi month double bottom forming which could indicate a large upside trend reversal is a possibility.
However the weekly time frame continues to point down. That the recent rejection of higher prices has come off a bounce from a downward sloping trend line and Fibonacci resistance level could indicate that the recent rally in Gold is part of a bigger cycle correction that ultimately sends Gold lower.

Focus on today

This morning Gold has opened quietly as the price action tests the 1310.00 support level.

Today I am monitoring the price action to test the 1310.00 support level.
Alternatively a failure to sustain lower prices could see Gold test the upward sloping trend line and move and the 34 period moving averages.




Oil

wtidaily_zps7bf854aa.png



Summary

Tuesday Oil again breifly spiked above the 100 level but was not able to close above this level. Oil continues to trade between the 98 and 100 range as the price action continued to consolidated above Fibonacci support.

Market overview

Oil continues to trade in a daily uptrend following the breach of the 100.72 level being the swing high of the 24th December. The daily and weekly times both have a positive bias. The recent price activity has seen Oil trade down to an area of Fibonacci support which could potentially offer a buying opportunities.

Focus on today

This morning Oil has opened positively with the price action trading within the previous 3 day’s range.
Today I am monitoring the price action for a breach of the 100 level.
Alternatively a failure to sustain higher prices could see Oil test 98 level.




AUDUSD

audusddaily_zps503dfe4e.png



Summary

Tuesday AUDUSD continued to trade higher and closed above the 0.9135 level being a recent swing pivot high.

Market overview

AUDUSD has been trading in a daily uptrend following the breach of the 0.9080 level being the swing high of the 18th February. However the weekly chart continues to trade in a weekly down trend.

Focus on today

This morning AUDUSD has positivley as the price action trades above the highs of yesterday’s range and is approaching the 50% Fibonacci resistance level.
I am this morning monitoring the price action for a potential test of the Fibonacci resistance area.
Alternatively if AUDUSD fails to sustain higher prices there is a possibility that AUDUSD trades back to the 8 period daily moving averages.



Dow30

ws30daily_zps00d3c4ef.png


Summary

Tuesday Dow30 continued to trade higher as it bounced off the 8 period daily moving averages.

Market overview

Dow30 has been trading in a daily down trend following the breach of the 015664 level being the swing low pivot of the 26th December. However the weekly chart continues to trade in a weekly up trend.

Focus on today

This morning Dow30 has positivley as the price action trades at the highs of yesterday’s range.
I am this morning monitoring the price action for a potential test of the 16447 level being last week’s high.
Alternatively if Dow30 fails to sustain higher prices there is a possibility that Dow30 tests the 8 period moving averages.
 

acfx

Broker Representative
Daily Technical Analysis
27th March 2014




EURUSD


eurusddaily_zps3b6d42f2.png


Summary

Wednesday EURUSD traded between and the 8 and 34 period daily moving averages as the price action consolidates within a tight range.

Market overview

EURUSD continues to trade in a daily uptrend following the breach of the 1.3741 level being the 24th January swing. This price action has put the daily time frame in gear with the positive weekly trend.

Focus on today

This morning EURUSD has opened quietly as it trades within the previous five days range.
I am this morning monitoring the price action for a potential move higher and a test of 8 period moving averages.
Alternatively if EURUSD fails to sustain higher prices there is a possibility that EURUSD breach the 34 period moving averages.



GBPUSD

gbpusddaily_zps5cc99a20.png


Summary

Wednesday GBPUSD tested and close above the 1.6570 level but was not able to sustain a move above the prior broken up trend line.

Market overview

GBPUSD has traded above the 1.6668 being the prior isolated pivot high. This price activity has effectively changed the daily trend to up and puts it in line with the bullish weekly outlook. However the breach the 1.6639 level being the recent daily pivot low has added a question mark to the overall health of the uptrend. Furthermore breaches of moving average, horizontal and trend line support is adding to the downside pressure. However GBPUSD is now bouncing higher off Fibonacci support which and this could possily signal an to the current downside correction.

Focus on today

This morning GBPUSD has opened quietly as the price action trades at the highs of yesterday’s candle.
I am today monitoring the price action for a test of the upward sloping trend line and the 34 period daily moving averages.
Alternatively if GBPUSD cannot sustain higher prices could see the price action test the 61.8 Fibonacci level.


USDJPY

usdjpydaily_zpseadff608.png


Summary

Wednesday USDJPY experienced a small range day as it continued to trade at the highs to the recent up spike in prices.

Market overview

The breach of the 102.83 level being the swing high of the 21st February has effectively changed the daily trend to up and therefore putting this time frame into gear with the bullish weekly time frame. The recent price action is now indicating that the 101.00 support level is likely to hold. However a breach of the 101.19 level being the 4th March swing low would technically change the daily trend to down and this would be in line with the formation of a bearish head and shoulders pattern.

Focus on today

This morning USDJPY initially opened negatively as the price action tested the 101.70 level but has since reversed the morning losses.
Today I am monitoring a potential test of the 103.00 level.
Alternatively a failure to sustain higher prices could see USDJPY re-test the 101.70 level.



USDCHF

usdchfdaily_zps93d8cb05.png


Summary

Wednesday USDCHF once again tested but could not sustain a close above the 34 period daily moving averages.

Market overview

USDCHF continues to trade in a negative daily and weekly swing bias but the recent price action is beginning to take on a bullish feel to it. I am therefore monitoring signs for a base to built that will allow for further upside at least to the downward sloping trend line. However the bias does continue to be fixed to the downside therefore shorting rallies is still probably the most logical strategy to adopt.

Focus on today

This morning USDCHF has opened quietly as the price action trades within the previous day’s range.

Today I am monitoring the price action for a retest of the 34 period moving averages.
Alternatively a failure to sustain higher prices could see USDCHF trade back to the 8 period moving averages.



Gold

golddaily_zpsc691f4b9.png


Summary

Wednesday Gold tested and closed under the 1310.00 support level.

Market overview

Gold continues to trade in a daily uptrend following the breach of the 1267.99 level being the swing high of the 10th December. The break above the large downward sloping trend line adds impetus to the current positive swing bias. Furthermore we have witnessed a large multi month double bottom forming which could indicate a large upside trend reversal is a possibility.
However the weekly time frame continues to point down. That the recent rejection of higher prices has come off a bounce from a downward sloping trend line and Fibonacci resistance level could indicate that the recent rally in Gold is part of a bigger cycle correction that ultimately sends Gold lower.

Focus on today

This morning Gold has opened quietly as the price within the previous days candle range and below the 1310.00 support level.

Today I am monitoring the price action for a continuation of yesterday’s downside momentum.
Alternatively a failure to sustain lower prices could see Gold test the 1310.00 level.


Oil

wtidaily_zps45407c0d.png


Summary

Wednesday Oil tested and closed above the 100 level.

Market overview

Oil continues to trade in a daily uptrend following the breach of the 100.72 level being the swing high of the 24th December. The daily and weekly times both have a positive bias. The recent price activity has seen Oil trade down to an area of Fibonacci support which could potentially offer a buying opportunities.

Focus on today

This morning Oil has opened positively with the price action trading at the highs of yesterday’s candle range.
Today I am monitoring the price action for a test of the 34 period moving averages,
Alternatively a failure to sustain higher prices could see Oil trade under the 100 level and test the 8 period daily moving averages.



AUDUSD

audusddaily_zps01a9e427.png


Summary

Wednesday AUDUSD continued to trade higher and closed withing the 50 to 61.8 Fibonacci resistance area.

Market overview

AUDUSD has been trading in a daily uptrend following the breach of the 0.9080 level being the swing high of the 18th February. However the weekly chart continues to trade in a weekly down trend with the price action now trading into the Fibonacci resistance area. That AUDUSD has formed a large inverse head and shoulders pattern it will be interesting to see if either this pattern trades to its upside target which comes in at the 0.9535 level of if Fibonacci resistance will offer a strong barrier to further upside momentum.

Focus on today

This morning AUDUSD has positivley as the price action trades above the highs of yesterday’s range.
I am this morning monitoring the price action for a potential continuation of the move higher.
Alternatively if AUDUSD fails to sustain higher prices there is a possibility that AUDUSD trades back to the 8 period daily moving averages.


Dow30

ws30daily_zpsf09f0768.png


Summary

Wednesday Dow30 traded higher as it above last weeks high. Higher the price action was not able to sustain itself above this level and eventually closed just under the 8 period daily moving averages.

Market overview

Dow30 has been trading in a daily down trend following the breach of the 015664 level being the swing low pivot of the 26th December. However the weekly chart continues to trade in a weekly up trend.

Focus on today

This morning Dow30 hasopened positivley as the price action trades at the lows of yesterday’s range.
I am this morning monitoring the price action for a potential re-test of the 16447 level being last week’s high.
Alternatively if Dow30 fails to sustain higher prices there is a possibility that Dow30 tests the 34 period moving averages.
 

acfx

Broker Representative
Daily Technical Analysis
28th March 2014



EURUSD

eurusddaily_zpsf10af3f1.png



Summary

Thursday EURUSD broke down fron the congestion area that was framed by the 8 and 34 period daily moving averages and traded down to the 50% Fibonacci support area.

Market overview

EURUSD continues to trade in a daily uptrend following the breach of the 1.3741 level being the 24th January swing. This price action has put the daily time frame in gear with the positive weekly trend. However there has been a recent strong correction which has had the effect of creating a bearish head and shoulders pattern that is marked by the ellipse. A break beneath the right shoulder could see EURUSD trade down to trend line support.

Focus on today

This morning EURUSD has opened quietly as it trades at the bottom of the previous days range.

I am this morning monitoring the price action for a potential test of yesterdays low and move to the 1.3670 support level.
Alternatively if EURUSD fails to sustain lower prices there is a possibility that this pair trades back to its averages.


GBPUSD

gbpusddaily_zps1d740d3d.png


Summary

Thursday GBPUSD succesfully tested and closed above the above the prior broken up trend line.

Market overview

GBPUSD has traded above the 1.6668 being the prior isolated pivot high. This price activity has effectively changed the daily trend to up and puts it in line with the bullish weekly outlook.
More recently GBPUSD has experienced a strong downside correction and this has had the effect of creating a large converging triangle consolidation pattern. As GBPUSD has bow bounced off Fibonacci support and with the weekly trend pointing up I would expect this triangle pattern when it breaks to trade higher.

Focus on today

This morning GBPUSD has opened quietly as the price action trades at the highs of yesterday’s candle.
I am today monitoring the price action for a test of 34 period daily moving averages and move in the direction of the 1.6700 resistance level.
Alternatively if GBPUSD cannot sustain higher prices could see the price action test the 1.6570 support level.


USDJPY

usdjpydaily_zpsabe6a046.png


Summary

Thursday USDJPY tested both the highs and lows of this weeks range as it trades around its averages.

Market overview

The breach of the 102.83 level being the swing high of the 21st February has effectively changed the daily trend to up and therefore putting this time frame into gear with the bullish weekly time frame. The recent price action is now indicating that the 101.00 support level is likely to hold. However a breach of the 101.19 level being the 4th March swing low would technically change the daily trend to down and this would be in line with the formation of a bearish head and shoulders pattern which is marked by the ellipse.

Focus on today

This morning USDJPY has opened quietly as the price action trades within the range of the previous 6 days trading.
Today I am monitoring a potential test of the 103.00 level.
Alternatively a failure to sustain higher prices could see USDJPY re-test the 101.70 level.


USDCHF

usdchfdaily_zpsdaa009e9.png


Summary

Thursday USDCHF broke and closed above the 34 period daily moving averages.

Market overview

USDCHF continues to trade in a negative daily and weekly swing bias but the recent price action is beginning to take on a bullish feel to it. I am therefore monitoring signs for a base to be built that will allow for further upside move and a test of the downward sloping trend line. The bullish inverse head and shoulders pattern that is forming puts the price pattern in line with this hypothesis. However daily and weekly bias does continue to be fixed to the downside therefore shorting rallies is still probably the most logical strategy to adopt.

Focus on today

This morning USDCHF has opened positively as it tests the highs of this week’s range.

Today I am monitoring the price action for a move to Fibonacci resistance.
Alternatively a failure to sustain higher prices could see USDCHF trade back to its averages.


Gold

golddaily_zps2706ed42.png


Summary

Thursday Gold continued to with its downside momentun following the breach of the 1310.00 support level.

Market overview

Gold continues to trade in a daily uptrend following the breach of the 1267.99 level being the swing high of the 10th December. The break above the large downward sloping trend line adds impetus to the current positive swing bias. Furthermore we have witnessed a large multi month double bottom forming which could indicate a large upside trend reversal is a possibility.
However the weekly time frame continues to point down. That the recent rejection of higher prices has come off a bounce from a downward sloping trend line and Fibonacci resistance level could indicate that the recent rally in Gold is part of a bigger cycle correction that ultimately sends Gold lower.
That Gold has experienced a strong daily time frame correction has pushed the price action towards Fibonacci support and the ability or not of Fibonacci support to push Gold higher will give an indication if the bullish daily up trend or the bearish weekly down trend will win this current battle.

Focus on today

This morning Gold has opened quietly as the price within the previous days candle range and below the 1310.00 support level.

Today I am monitoring the price action for a continuation of yesterday’s downside momentum and a move to the 0.618 Fibonacci support area.
Alternatively a failure to sustain lower prices could see Gold test the 1310.00 level.


Oil

wtidaily_zpsd0fce43e.png


Summary

Thursday Oil continued to trade higher following its succesful test the 100 level and followed this with a break and close above the 34 period daily moving averages.

Market overview

Oil continues to trade in a daily uptrend following the breach of the 100.72 level being the swing high of the 24th December. The daily and weekly times both have a positive bias. The recent price activity has seen the price action perform a text book move by trading down to Fibonacci support and from there bouncing higher.

Focus on today

This morning Oil has opened positively with the price action trading at the highs of yesterday’s candle range.
Today I am monitoring the price action for a test of the 103.00 resistance level.
Alternatively a failure to sustain higher prices could see Oil trade under the 100 level and test the 8 period daily moving averages.



AUDUSD

audusddaily_zps264c42af.png


Summary

Thursday AUDUSD continued to trade higher and closed withing the 50 to 61.8 Fibonacci resistance area.

Market overview

AUDUSD has been trading in a daily uptrend following the breach of the 0.9080 level being the swing high of the 18th February. However the weekly chart continues to trade in a weekly down trend with the price action now trading into the Fibonacci resistance area. That AUDUSD has formed a large inverse head and shoulders pattern it will be interesting to see if either this pattern trades to its upside target which comes in at the 0.9535 level of if Fibonacci resistance will offer a strong barrier to further upside momentum.

Focus on today

This morning AUDUSD has opened positivley as the price action trades above the highs of yesterday’s range.
I am this morning monitoring the price action for a potential continuation of the move higher.
Alternatively if AUDUSD fails to sustain higher prices there is a possibility that AUDUSD trades back to the 8 period daily moving averages.


Dow30

ws30daily_zps82f32b91.png


Summary

Thursday Dow30 traded down to its averages where it spen the majority of the day.

Market overview

Dow30 has been trading in a daily down trend following the breach of the 15664 level being the swing low pivot of the 26th December. However the weekly chart continues to trade in a weekly up trend.

Focus on today

This morning Dow30 hasopened quietly as the price action trades within yesterday’s range.
I am this morning monitoring the price action for a potential re-test of the 16447 level being last week’s high.
Alternatively if Dow30 fails to sustain higher prices there is a possibility that Dow30 tests the 16175 level.
 
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