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Daily Technical Analysis from ACFX


starwar1508

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Daily Technical Analysis for EURUSD as at 22nd January 2013

DAILY OVERVIEW

Trend : Long

Ambush Zone : 1.3195 – 1.3080

Target 1 : 1.3400

Target 2 : 1.3385

Stop : < 1.2995

eur_zpsf674fb18.gif

 

Comments

As posted yesterday, “after reaching Target 1, EURUSD has been trading between the last swing high and the 8 period moving averages. A move back to Fibonacci support may offer the possibility of participating once again on the long side however an upward break from these levels can also not be ruled out.”

 

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 22nd January 2013

DAILY OVERVIEW

Trend : Short

Ambush Zone : -

Target 1 : -

Target 2 : -

Stop : -

 

gbp_zpsf5d2565d.gif

 

 

Comments

Yesterday’s price action managed to breach the 15th November lows. This price action has created a lower low on the Weekly time frame. At the moment, it is probably too early in the move to post a possible Fibonacci resistance sell zone area.

 

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 22nd January 2013

DAILY OVERVIEW

Trend : Long

Ambush Zone : 0.9230 – 0.9140

Target 1 : 0.9385

Target 2 : 0.9490

Stop : <0.9080

 

chf_zpscb2b4ab1.gif

 

 

Comments

USDCHF is now retracting back to the 8 period moving averages. We are monitoring the price action for a possible move back to Fibonacci support which may offer the possibility of a buying opportunity.

 

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 USDJPY as at 22nd January 2013

DAILY OVERVIEW

Trend : Long

Ambush Zone : -

Target 1 : -

Target 2 : -

Stop : -

 

jpy_zpsf8e01805.gif

 

 

Comments

USDJPY is making another attempt at a pull back. We have identified a weekly negative RSI divergence and declining ADX readings after moving into extreme areas as possible indications that this strong trend may finally need to take a pause.

 

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

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