Daily Technical Analysis for EURUSD as at 24th May 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : 1.3015 – 1.3145
Target 1 : 1.2795
Target 2 : 1.2745
Stop : 1.3245
Comments
The swing bias remains negative with the averages confirming this direction. The price action continues to range around the upward sloping trend line and between both the short and long moving averages.
Scenario 1
We are monitoring a potential break down in the direction of the 4th April Swing Low.
Scenario 2
Alternatively EURUSD could possibly retrace up the long average and Fibonacci resistance level.
Definitions
Trend : Current trend as defined by technical Swing Analysis
HH : Higher High
HL : Higher Low
LL : Lower Low
LH : Lower High
CofT : Change of Trend
Daily Technical Analysis for GBPUSD as at 24th May 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -
Comments
GBPUSD on a swing basis continues to have a negative bias and is trading under both the short and long moving averages.
Scenario 1
We are monitoring a potential move to the pivot low of 12th March. However an uptrend line may initially offer support at around the 1.4900 area.
Scenario 2
Alternatively as the price action is extended from the averages there is potential for a pullback initially to the 8 period moving averages.
Definitions
Trend : Current trend as defined by technical Swing Analysis.
HH : Higher High
HL : Higher Low
LL : Lower Low
LH : Lower High
CofT : Change of Trend
Daily Technical Analysis for USDCHF as at 24th May 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -
Comments
USDCHF on a swing basis continues to trend positively with the moving averages confirming the trend. Currently the price action is ranging between the 161.80 and 200 percent expansion levels.
Scenario 1
We are monitoring a potential move to further targets being 0.9970 which corresponds to a prior Swing High and then the significant USDCHF 1.0000 level.
Scenario 2
Alternatively as the price action is extended from the averages there is a possibility for the price action to retrace so as to allow for an orderly correction.
Definitions
Trend : Current trend as defined by technical Swing Analysis
HH : Higher High
HL : Higher Low
LL : Lower Low
LH : Lower High
CofT : Change of Trend
DAILY OVERVIEW
Trend : Short
Ambush Zone : 1.3015 – 1.3145
Target 1 : 1.2795
Target 2 : 1.2745
Stop : 1.3245
Comments
The swing bias remains negative with the averages confirming this direction. The price action continues to range around the upward sloping trend line and between both the short and long moving averages.
Scenario 1
We are monitoring a potential break down in the direction of the 4th April Swing Low.
Scenario 2
Alternatively EURUSD could possibly retrace up the long average and Fibonacci resistance level.
Definitions
Trend : Current trend as defined by technical Swing Analysis
HH : Higher High
HL : Higher Low
LL : Lower Low
LH : Lower High
CofT : Change of Trend
Daily Technical Analysis for GBPUSD as at 24th May 2013
DAILY OVERVIEW
Trend : Short
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -
Comments
GBPUSD on a swing basis continues to have a negative bias and is trading under both the short and long moving averages.
Scenario 1
We are monitoring a potential move to the pivot low of 12th March. However an uptrend line may initially offer support at around the 1.4900 area.
Scenario 2
Alternatively as the price action is extended from the averages there is potential for a pullback initially to the 8 period moving averages.
Definitions
Trend : Current trend as defined by technical Swing Analysis.
HH : Higher High
HL : Higher Low
LL : Lower Low
LH : Lower High
CofT : Change of Trend
Daily Technical Analysis for USDCHF as at 24th May 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -
Comments
USDCHF on a swing basis continues to trend positively with the moving averages confirming the trend. Currently the price action is ranging between the 161.80 and 200 percent expansion levels.
Scenario 1
We are monitoring a potential move to further targets being 0.9970 which corresponds to a prior Swing High and then the significant USDCHF 1.0000 level.
Scenario 2
Alternatively as the price action is extended from the averages there is a possibility for the price action to retrace so as to allow for an orderly correction.
Definitions
Trend : Current trend as defined by technical Swing Analysis
HH : Higher High
HL : Higher Low
LL : Lower Low
LH : Lower High
CofT : Change of Trend