Daily Technical Analysis for EURUSD as at 2nd January 2013
Daily Overview
Trend Long
Ambush Zone 1.3090 – 1.2965
Target 1 1.3310
Target 2 1.3385
Stop <1.2875
Comments
EURUSD this morning experienced a large bounce off the 8 period moving averages which was due to overnight US news. We are monitoring the price action for a break out from the holiday period consolidation area or a rejection of the highs back into the said congestion area
Definitions
HH Higher High
HL Higher Low
LL Lower Low
LH Lower High
CofT Change of Trend
Daily Technical Analysis for GBPUSD as at 2nd January 2013
Daily Overview
Trend Long
Ambush Zone 1.6155 – 1.6065
Target 1 1.6305
Target 2 1.6620
Stop <1.6000
Comments
GBPUSD this morning breached and is trading above Target 1.We are monitoring the price action for a possible move to upper resistance which is formed by a multi month triangle formation.
Definitions
HH Higher High
HL Higher Low
LL Lower Low
LH Lower High
CofT Change of Trend
Daily Technical Analysis for Gold as at 2nd January 2013
Daily Overview
Trend Short
Ambush Zone 1675 – 1705
Target 1 1635
Target 2 1590
Stop >1725
Comments
Gold this morning broke up into Fibonacci resistance. We are monitoring the price action for a possible shorting opportunity on a lower time frame.
Definitions
HH Higher High
HL Higher Low
LL Lower Low
LH Lower High
CofT Change of Trend
Daily Technical Analysis for Oil (WTI) as at 2nd January 2013
Daily Overview
Trend -
Ambush Zone -
Target 1 -
Target 2 -
Stop -
Comments
Oil has broken through Fibonacci resistance and is trading towards upper trend line resistance. The Swing Strategy is still technically short and a pull back after such a stellar up move would not be unexpected. However our broader market bias is shifting to the long side
Definitions
HH Higher High
HL Higher Low
LL Lower Low
LH Lower High
CofT Change of Trend
Daily Technical Analysis for USDCHF as at 2nd January 2013
Daily Overview
Trend Short
Ambush Zone 0.9230 – 0.9320
Target 1 0.9085
Target 2 0.9040
Stop >0.9380
Comments
USDCHF this morning is trading negatively and breached the previous low before eventually pulling back albeit slightly. Continued negativity is possible and would not be unexpected
Definitions
HH Higher High
HL Higher Low
LL Lower Low
LH Lower High
CofT Change of Trend
Daily Overview
Trend Long
Ambush Zone 1.3090 – 1.2965
Target 1 1.3310
Target 2 1.3385
Stop <1.2875
Comments
EURUSD this morning experienced a large bounce off the 8 period moving averages which was due to overnight US news. We are monitoring the price action for a break out from the holiday period consolidation area or a rejection of the highs back into the said congestion area
Definitions
HH Higher High
HL Higher Low
LL Lower Low
LH Lower High
CofT Change of Trend
Daily Technical Analysis for GBPUSD as at 2nd January 2013
Daily Overview
Trend Long
Ambush Zone 1.6155 – 1.6065
Target 1 1.6305
Target 2 1.6620
Stop <1.6000
Comments
GBPUSD this morning breached and is trading above Target 1.We are monitoring the price action for a possible move to upper resistance which is formed by a multi month triangle formation.
Definitions
HH Higher High
HL Higher Low
LL Lower Low
LH Lower High
CofT Change of Trend
Daily Technical Analysis for Gold as at 2nd January 2013
Daily Overview
Trend Short
Ambush Zone 1675 – 1705
Target 1 1635
Target 2 1590
Stop >1725
Comments
Gold this morning broke up into Fibonacci resistance. We are monitoring the price action for a possible shorting opportunity on a lower time frame.
Definitions
HH Higher High
HL Higher Low
LL Lower Low
LH Lower High
CofT Change of Trend
Daily Technical Analysis for Oil (WTI) as at 2nd January 2013
Daily Overview
Trend -
Ambush Zone -
Target 1 -
Target 2 -
Stop -
Comments
Oil has broken through Fibonacci resistance and is trading towards upper trend line resistance. The Swing Strategy is still technically short and a pull back after such a stellar up move would not be unexpected. However our broader market bias is shifting to the long side
Definitions
HH Higher High
HL Higher Low
LL Lower Low
LH Lower High
CofT Change of Trend
Daily Technical Analysis for USDCHF as at 2nd January 2013
Daily Overview
Trend Short
Ambush Zone 0.9230 – 0.9320
Target 1 0.9085
Target 2 0.9040
Stop >0.9380
Comments
USDCHF this morning is trading negatively and breached the previous low before eventually pulling back albeit slightly. Continued negativity is possible and would not be unexpected
Definitions
HH Higher High
HL Higher Low
LL Lower Low
LH Lower High
CofT Change of Trend
