Daily Technical Analysis for 31th December 2013 from ACFX
EURUSD
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
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
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
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.
EURUSD
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
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
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
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.