Daily Technical Analysis

Trend

The Swing strategy. Short.
The Alligator strategy. Short.

Warning
EURUSD has breached of 1.2624 being the 16th January low. We are now watching for further downside to 1.2456 and then 1.2330 or possibility that this move is a fake brake down. Small potential positive stochastic divergence forming.

Overview

Swing Strategy: The 16th January prior low at 1.2624 is now been breached with the 24th May candle closing beneath the range of this previous major low. The price action has firmly broken its lower boundary envelope. This move has also had the effect of expanding the linear channel thus giving the pair large price targets either side of this channel. We are watching for a corrective pullback to the 50/78.6 Fibonacci area.
Alligator Strategy:
The Alligator indicator has turned from a neutral to a short bias. Price extended from the deferred MA’s.
Possible range
The daily range based upon the most recent Average True Range readings is 104 pips. This implies that EURUSD could potentially trade between 1.2411 and 1.2619.

Long scenario

• Conservative long above 1.2824 being the last daily fractal high.
• Aggressive long into the deferred MA’s.

Short scenario

• Conservative short beneath 1.2641 being the last daily fractal low.
• Aggressive short pullbacks into the deferred MA’s

Notes

N/A

Risk Disclaimer:

Users of ACFX.COM website and BLOG and any affiliated website note the content of the above analysis or any other information within the website do not at any time provide financial advice. The information is based on historical analysis and for educational purposes only. We recommend readers not to make any investment decision of any sort on the basis of the information above unless prior professional consultation is sought. Trading may not be suitable for all users of this website. Trading CFDs and Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Investors should ensure they fully understand the risks associated with leveraged CFD and FX trading before deciding to trade. Investors should carefully evaluate whether their financial situation is appropriate for such transactions.

Trends

The Swing strategy. Short.
The Alligator strategy. Short.

Warning
Watching price support at 1.5602. Multiple potential stochastic divergences forming.
Overview

Swing Strategy :
The breach of the 5th April higher low as reversed the swing count from positive to negative bias. We are watching for a potential lower high to form at the 50/61.80% being 1.6012/1.6081. This will effectively form a Head and Shoulders pattern.
There is a further minor Fibonacci potential sell area at 1.5734/1.5794.

Alligator Strategy:
The Alligator indicator has turned bearish from neutral. Price extended from the MA’s. The possible strategy is to short the market in the deferred MA’s.

Possible range
The daily range based upon the most recent Average True Range readings is 95 pips. This implies that GBPUSD could potentially trade between 1.5571 and 1.5761.

Long scenario

• Conservative long above 1.5847 being the last daily fractal high.
• Aggressive long into the deferred MA’s.

Short scenario

• Conservative short, beneath 1.5732 being the last daily fractal.
• Aggressive short sell pull backs into the deferred MA’s.

Notes

N/A

Risk Disclaimer:

Users of ACFX.COM website and BLOG and any affiliated website note the content of the above analysis or any other information within the website do not at any time provide financial advice. The information is based on historical analysis and for educational purposes only. We recommend readers not to make any investment decision of any sort on the basis of the information above unless prior professional consultation is sought. Trading may not be suitable for all users of this website. Trading CFDs and Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Investors should ensure they fully understand the risks associated with leveraged CFD and FX trading before deciding to trade. Investors should carefully evaluate whether their financial situation is appropriate for such transactions.

Trends

The Swing strategy. Short.
The Alligator strategy. Short.

Warning

A potential Lower High is forming. Continued potential stochastic positive divergence.

Overview

Swing Strategy : We are awaiting a confirmation of the 18th May Potential Lower Low.

Alligator strategy: The Alligator indicator has turned negative. The preferred strategy is to short pull backs into the deferred MA’s off a lower time frame or trade the breakdown of the last daily fractal low.

Possible range
The daily range based upon the most recent Average True Range readings is 0.5329. This implies that USDJPY could potentially trade between 79.1371 and 80.2029.
Long scenario

• Conservative long above 80.14 being the last daily fractal high.
• Aggressive long neutral.

Short scenario

• Conservative short below 78.99 being the last daily fractal low is in play.
• An aggressive short, short pullback into the deferred MA’s.

Notes

N/A

Risk Disclaimer:

Users of ACFX.COM website and BLOG and any affiliated website note the content of the above analysis or any other information within the website do not at any time provide financial advice. The information is based on historical analysis and for educational purposes only. We recommend readers not to make any investment decision of any sort on the basis of the information above unless prior professional consultation is sought. Trading may not be suitable for all users of this website. Trading CFDs and Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Investors should ensure they fully understand the risks associated with leveraged CFD and FX trading before deciding to trade. Investors should carefully evaluate whether their financial situation is appropriate for such transactions.

Trends
The Swing strategy is Long.
The Alligator strategy is Long.

Warning

Rejection of the 9th January prior high.
Overview

Swing strategy:The 9th January high of 0.9593 has been breached. We are watching for an orderly pull back as a potential buying opportunity with the target being the minor Fibonacci.

Alligator strategy: The Alligator indicator has turned bullish but the price action is extended from its deferred MA.
Possible range

The daily range based upon the most recent Average True Range readings is 73 pips. This implies that USDCHF could potentially trade between 0.9523 and 0.9669.
Long scenario

• Conservative long above 0.9500 being the last daily fractal high is in play.
• Aggressive long buy pull backs into the deferred MA’s.

Short scenario

• Conservative short below 0.9367 being the last daily fractal low.
• Aggressive short into the deferred MA’s.

Notes

N/A

Risk Disclaimer:

Users of ACFX.COM website and BLOG and any affiliated website note the content of the above analysis or any other information within the website do not at any time provide financial advice. The information is based on historical analysis and for educational purposes only. We recommend readers not to make any investment decision of any sort on the basis of the information above unless prior professional consultation is sought. Trading may not be suitable for all users of this website. Trading CFDs and Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Investors should ensure they fully understand the risks associated with leveraged CFD and FX trading before deciding to trade. Investors should carefully evaluate whether their financial situation is appropriate for such transactions.