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Daily Technical Analysis 6.2.2013 ACFX.com

AtlasCapitalFX

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Daily Technical Analysis for EURUSD as at 6TH February 2013

DAILY OVERVIEW
Trend : Long
Ambush Zone : 1.3485 -1.3360
Target 1 : 1.3710
Target 2 : 1.4250
Stop : <1.3263

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Comments
EURUSD has bounced in the Fibonacci support area. We are monitoring a potential move to Target 1.

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 6th February 2013

DAILY OVERVIEW
Trend : Short
Ambush Zone : 1.5780 – 1.5845
Target 1 : 1.5675
Target 2 : 1.5485
Stop : >1.5895

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Comments
GBPUSD has hit Target 1 and has bounced off the upward sloping multi month trend line. We are monitoring a possible breach of support or for strong buying to come in at these levels which will propel price back to the 8 period moving averages which may offer some initial resistance.

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 6th February 2013

DAILY OVERVIEW
Trend : Short
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -

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Comments
As posted previously “USDCHF has breach of the last isolated LL which would confirm a possible change of trend to the down side. The indecision of the past two weeks can be seen by the pattern that has been created with HH’s and LL’s which has formed an expanding triangle formation. The downward move has stalled somewhat as the averages do need to catch up with the price action. We a monitoring for possible sideways action or a move back 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 USDJPY as at 6th February 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -

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Comments
As posted previously “USDJPY continues to trade higher. We continue to monitor the price action for a potential pull back to the 8 period moving averages where support may come in”.

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 Gold as at 6th February 2013

DAILY OVERVIEW
Trend : Long
Ambush Zone : 1661.10 – 1640.80
Target 1 : 1696.40
Target 2 : 1723.30
Stop : <1625.80

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Comments
As posted previously “Gold continues to bounce around the Fibonacci support area. We are monitoring the possibility of a move to Target 1”.

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 Oil (WTI) as at 6th February 2013
DAILY OVERVIEW
Trend : Long
Ambush Zone : -
Target 1 : -
Target 2 : -
Stop : -

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Comments
Oil continues to trade under the 8 period moving averages. The 34 period moving averages and the downward sloping trend line may offer some possible support. Alternatively Oil may make an attempt to trade up to and possibly breach the last isolated HH.

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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