Daily Technical Analysis from ACFX (Atlas Capital Forex)

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Daily Technical Analysis from ACFX 11/25/2013

Daily Technical Analysis for EURUSD as at 25th November 2013

Yesterday’s summary
Friday initially EURUSD traded lower during the Tokyo session. However this negativity was short lived as EURUSD reversed off its lows and broke higher into the London session. This move continued into the New York session and saw EURUSD close on a daily and weekly basis near to its highs.

Market open focus
This morning’s Toyo session has seen EURUSD correct some 25 pip lower from the session highs. We are monitoring the price action for signs of as continuation of this down move into the London session.

The key intraday levels to watch are 1.3398, 1.3442, 1.3460, 1.3475, 1.3536 and 1.3560.

The possible projected maximum daily ranges based upon current price action are 1.3460 to 1.3630.

Today’s scenarios
1. EURUSD is trading within a 25 pip early morning range. I am monitoring potential shorts below 1.3536 with a target of 1.3460.

2. Alternatively a potential break above 1.3560 has an upside intraday target of 1.3630.

Macro trade Ideas
1. The breach of the 16th October prior isolated low has changed the daily trend on a swing basis from up to down. The move back up to the averages and previously broken trend line has proved a good value area where shorts could be added. I am monitoring a continuation of the move down to the 7th November low at 1.3300 levels a prior daily swing low.

2. Alternatively the weekly time frame continues to be swing positive. Therefore there is a possibility that the down trend on the daily chart is nothing more than a corrective sell off that brings the price action into potential value areas where long term swing position buy trades could be executed. It should also be noted that EURUSD has traded into a large Fibonacci support area where price action stalled and bounced. With this in mind there is potential for a substantial upside move that could bring the daily trend back into line with the weekly trend. This scenario is valid as long as EURUSD can trade above the 1st September swing long which comes in around the 1.3100 area.

The Macro Technical Targets
The upside targets are 1.3470, 1.3530, 1.3650, and 1.3830. The downside targets are 1.3300, 1.3200, 1.3100 and 1.2750.



Daily Technical Analysis for GBPUSD as at 25th November 2013

Yesterday’s summary
Friday GBPUSD traded in a tight range during Tokyo trading before trading marginally higher during the London and New York sessions.

Market open focus
This morning has seen GBPUSD correct some 33 points lower off its opening Tokyo session morning high. I am monitoring the 1.6202 level as a possible area of support or if broken an indication that the downside correction will be extended into the London session.

The key intraday levels to watch are 1.6071, 1.6107, 1.6175, 1.6202 and1.6240.
The possible projected maximum daily ranges based upon current price action are 1.6140 to 1.6300.

Today’s scenarios
1. GBPUSD is trading within a 30 pip early morning range. I am monitoring potential shorts below 1.6202 with a target of 1.6140.

2. Alternatively a potential break above 1.6240 has an upside intraday target of 1.6300.

Macro trade ideas
1. The breach of the 16th October swing low has changed the trend on a daily swing basis from up to down. However both the breach of the 6th November minor swing high and the averages crossing positively does put a question mark on the strength of this trend. Despite this and with GBPUSD now trading up to multi month trend line resistance may offer a potential opportunity for the price action to once again reverse to the down side.

2. Alternatively the weekly time frame continues to have a positive swing bias which could indicate that the daily chart negativity could be little more than a downside correction. A break above the 23rd October high would confirm this scenario.

Marco Technical Targets
1.6260, 1.6170, 1.5890, 1.5715, 1.5570, 1.5720




Daily Technical Analysis for USDCHF as at 25th November 2013

Yesterday’s summary
Friday USDCHF initial traded lower during Tokyo session prior to breaking down. This down move continued and accelerated during the London and New York sessions.

Market open focus
USDCHF has bounced off the downward sloping trend line during this morning’s Tokyo session. I am monitoring the possibility for this bounce to continue during London trading

The key intraday levels to watch are 0.9060, 0.9089, 0.9150, 0.9159 and 0.9192.
The possible projected maximum daily ranges based upon current price action are 0.9020 to 0.9130.

Today’s scenarios
1. USDCHF is trading within a 30 pip early morning range. I am monitoring potential longs above 0.9089 with a target of 0.9130.

2. Alternatively a potential break below 0.9060 has a downside intraday target of 0.9020.

Macro trade ideas
1. On a basis swing bases the trend is now positive following the breach of the prior isolated high. However the price action has been struggling to extend a move away from the downside sloping trend line. Notwithstanding this as long USDCHF can trade above 0.8889 being the current isolated low then the potential for a substantial upside breakout is possibility.

2. However the weekly time frame continues to point down. Therefore a sustained breach of the 34 period moving averages puts into play a move to the 0.8889 isolated low areas.

Macro technical levels
The macro technical levels are 0.9020 0.8930, 0.8570 and 0.9200.



Daily Technical Analysis for USDJPY as at 25th November 2013

Yesterday’s summary
Friday USDJPY traded within a range of some 40 pips throughout the Tokyo, London and New York session.

Market open focus
In comparison to Friday’s small range USDJPY has broken higher and already traded an 80 pip range during this morning’s Tokyo session. This morning’s move has in the process taken out the 101.52 level being a prior swing high. I am monitoring the possibility that this positive market action continues into the London session.

The key intraday levels to watch are 99.54, 100.26, 100.95, 101.60, and 101.93.

The possible projected maximum daily ranges based upon current price action are 101.15 to 101.92.

Today’s scenarios
1. USDJPY has traded an 80 pip early morning break out. I am monitoring potential longs above 101.93. However as this morning’s move already equates to one daily average range further upside maybe limited.

2. Alternatively a potential break beneath 101.60 has a downside intraday target of 101.15.

Macro trade ideas
1. With USDJPY having breached the prior swing high of the 17th October has changed the trend on a swing bias to up. The change of the daily trend now puts the swing bias in line with the weekly trend. The breach of both the downward sloping trend line and significant 100 levels now puts in play potential moves 103.73 swing level which is also a major multi year high. The previous 101.52 target having been breached this morning.

2. Alternatively failure to sustain a move above the 101.52 level could possibly see USDJPY trade back to the prior broken converging triangle.

 

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Daily Technical Analysis from ACFX 11/26/2013


Daily Technical Analysis for EURUSD as at 26th November 2013

Yesterday’s summary
Yesterday’s Tokyo session opened with an attempt to breach trend line resistance during the first hour of trading. However this attempt was quickly turned back which led to EURUSD trading moderately down. This trend continued through to the London and New York sessions in what was a relatively small 65 pip range day.

Market open focus
This morning’s EURUSD has opened slightly higher off yesterday’s low with the price action trading back up into a previous two day congestion area.

The key intraday levels to watch are 1.3398, 1.3442, 1.3535 and 1.3560.

The possible projected maximum daily ranges based upon current price action are 1.3445 to 1.3600.

Today’s scenarios
1. EURUSD is trading within a 26 pip early morning range. I am monitoring potential shorts below 1.3535 with a target of 1.3445.

2. Alternatively a potential break above 1.3560 has an upside intraday target of 1.3600.

Macro trade Ideas
1. The breach of the 16th October prior isolated low has changed the daily trend on a swing basis from up to down. The move back up to the averages and previously broken trend line has proved a good value area where shorts could be added. I am monitoring a continuation of the move down to the 7th November low at 1.3300 levels a prior daily swing low.

2. Alternatively the weekly time frame continues to be swing positive. Therefore there is a possibility that the down trend on the daily chart is nothing more than a corrective sell off that brings the price action into potential value areas where long term swing position buy trades could be executed. It should also be noted that EURUSD has traded into a large Fibonacci support area where price action stalled and bounced. With this in mind there is potential for a substantial upside move that could bring the daily trend back into line with the weekly trend. This scenario is valid as long as EURUSD can trade above the 1st September swing long which comes in around the 1.3100 area.

The Macro Technical Targets
The upside targets are 1.3470, 1.3530, 1.3650, and 1.3830. The downside targets are 1.3300, 1.3200, 1.3100 and 1.2750.


Daily Technical Analysis for GBPUSD as at 26th November 2013

Yesterday’s summary
Yesterday GBPUSD traded lower throughout the Tokyo, London and New York sessions. However support did come into the market above the 1.6130 level which led to the market forming a 25 pip congestion zone at trend line support.

Market open focus
This morning has seen GBPUSD within a 43 pip range during the Tokyo session. I am monitoring a potential upside break of this range during London early morning trading.

The key intraday levels to watch are 1.6071, 1.6107, 1.6132, 1.6175, 1.6202 and 1.6240.
The possible projected maximum daily ranges based upon current price action are 1.6090 to 1.6230.

Today’s scenarios
1. GBPUSD is trading within a 43 pip early morning range. I am monitoring potential shorts below 1.6132with a target of 1.6090.

2. Alternatively a potential break above 1.6175 has an upside intraday target of 1.6230.

Macro trade ideas
1. The breach of the 16th October swing low has changed the trend on a daily swing basis from up to down. However both the breach of the 6th November minor swing high and the averages crossing positively does put a question mark on the strength of this trend. Despite this and with GBPUSD now trading up to multi month trend line resistance may offer a potential opportunity for the price action to once again reverse to the down side.

2. Alternatively the weekly time frame continues to have a positive swing bias which could indicate that the daily chart negativity could be little more than a downside correction. A break above the 23rd October high would confirm this scenario.

Marco Technical Targets
1.6260, 1.6170, 1.5890, 1.5715, 1.5570, 1.5720



Daily Technical Analysis for USDCHF as at 26th November 2013

Yesterday’s summary
Yesterday saw USDCHF trade higher throughout the Tokyo, London and New York sessions with the price action closing near to its highs.

Market open focus
USDCHF has traded lower over the overnight and this morning’s Tokyo session. This price action has seen USDCHF break down from the previous days 24 pip area of congestion and into the previous sessions 0.9089 to 0.9060 area of support.

The key intraday levels to watch are 0.9060, 0.9089, 0.9107, 0.9131, 0.9137, 0.9150, 0.9159 and 0.9192.
The possible projected maximum daily ranges based upon current price action are 0.9050 to 0.9150.


Today’s scenarios
1. USDCHF has this morning traded down from the previous day’s high into the area of previous day’s support. I am monitoring a potential bounce off 0.9089.

2. Alternatively a potential break below 0.9060 has a downside intraday target of 0.9050.

Macro trade ideas
1. On a basis swing bases the trend is now positive following the breach of the prior isolated high. However the price action has been struggling to extend a move away from the downside sloping trend line. Notwithstanding this as long USDCHF can trade above 0.8889 being the current isolated low then the potential for a substantial upside breakout is possibility.

2. However the weekly time frame continues to point down. Therefore a sustained breach of the 34 period moving averages puts into play a move to the 0.8889 isolated low areas.

Macro technical levels
The macro technical levels are 0.9020 0.8930, 0.8570 and 0.9200.



Daily Technical Analysis for USDJPY as at 26th November 2013

Yesterday’s summary
Yesterday USDJPY traded aggressively higher during Tokyo session. However this upside momentum stalled as the price action approached the 102.00 level during the London and New York session.

Market open focus
The overnight and this morning’s Tokyo session have seen USDJPY experience a corrective pullback. I am monitoring the possibility that this negative market action continues into the London session.

The key intraday levels to watch are 99.54, 100.26, 100.95, 101.20, 101.60 and101.9.

The possible projected maximum daily ranges based upon current price action are 101.10 to 102.10.

Today’s scenarios
1. USDJPY is trading beneath yesterday’s high area of congestion. I am monitoring the potential for further downside under the 101.60 to 101.90 area with a target of 101.10

2. Alternatively a potential break above 101.90 has an intraday target of 102.10.

Macro trade ideas
1. With USDJPY having breached the prior swing high of the 17th October has changed the trend on a swing bias to up. The change of the daily trend now puts the swing bias in line with the weekly trend. The breach of both the downward sloping trend line and significant 100 levels now puts in play potential moves 103.73 swing level which is also a major multi year high. The previous 101.52 target having been breached this morning.

2. Alternatively as USDJPY is now becoming extended from its averages there is a possibility that USDJPY corrects down to these averages.

 

[ACFX.com]

Daily Technical Analysis from ACFX 11/26/2013


Daily Technical Analysis for EURUSD as at 26th November 2013

Yesterday’s summary
Yesterday’s Tokyo session opened with an attempt to breach trend line resistance during the first hour of trading. However this attempt was quickly turned back which led to EURUSD trading moderately down. This trend continued through to the London and New York sessions in what was a relatively small 65 pip range day.

Market open focus
This morning’s EURUSD has opened slightly higher off yesterday’s low with the price action trading back up into a previous two day congestion area.

The key intraday levels to watch are 1.3398, 1.3442, 1.3535 and 1.3560.

The possible projected maximum daily ranges based upon current price action are 1.3445 to 1.3600.

Today’s scenarios
1. EURUSD is trading within a 26 pip early morning range. I am monitoring potential shorts below 1.3535 with a target of 1.3445.

2. Alternatively a potential break above 1.3560 has an upside intraday target of 1.3600.

Macro trade Ideas
1. The breach of the 16th October prior isolated low has changed the daily trend on a swing basis from up to down. The move back up to the averages and previously broken trend line has proved a good value area where shorts could be added. I am monitoring a continuation of the move down to the 7th November low at 1.3300 levels a prior daily swing low.

2. Alternatively the weekly time frame continues to be swing positive. Therefore there is a possibility that the down trend on the daily chart is nothing more than a corrective sell off that brings the price action into potential value areas where long term swing position buy trades could be executed. It should also be noted that EURUSD has traded into a large Fibonacci support area where price action stalled and bounced. With this in mind there is potential for a substantial upside move that could bring the daily trend back into line with the weekly trend. This scenario is valid as long as EURUSD can trade above the 1st September swing long which comes in around the 1.3100 area.

The Macro Technical Targets
The upside targets are 1.3470, 1.3530, 1.3650, and 1.3830. The downside targets are 1.3300, 1.3200, 1.3100 and 1.2750.


Daily Technical Analysis for GBPUSD as at 26th November 2013

Yesterday’s summary
Yesterday GBPUSD traded lower throughout the Tokyo, London and New York sessions. However support did come into the market above the 1.6130 level which led to the market forming a 25 pip congestion zone at trend line support.

Market open focus
This morning has seen GBPUSD within a 43 pip range during the Tokyo session. I am monitoring a potential upside break of this range during London early morning trading.

The key intraday levels to watch are 1.6071, 1.6107, 1.6132, 1.6175, 1.6202 and 1.6240.
The possible projected maximum daily ranges based upon current price action are 1.6090 to 1.6230.

Today’s scenarios
1. GBPUSD is trading within a 43 pip early morning range. I am monitoring potential shorts below 1.6132with a target of 1.6090.

2. Alternatively a potential break above 1.6175 has an upside intraday target of 1.6230.

Macro trade ideas
1. The breach of the 16th October swing low has changed the trend on a daily swing basis from up to down. However both the breach of the 6th November minor swing high and the averages crossing positively does put a question mark on the strength of this trend. Despite this and with GBPUSD now trading up to multi month trend line resistance may offer a potential opportunity for the price action to once again reverse to the down side.

2. Alternatively the weekly time frame continues to have a positive swing bias which could indicate that the daily chart negativity could be little more than a downside correction. A break above the 23rd October high would confirm this scenario.

Marco Technical Targets
1.6260, 1.6170, 1.5890, 1.5715, 1.5570, 1.5720



Daily Technical Analysis for USDCHF as at 26th November 2013

Yesterday’s summary
Yesterday saw USDCHF trade higher throughout the Tokyo, London and New York sessions with the price action closing near to its highs.

Market open focus
USDCHF has traded lower over the overnight and this morning’s Tokyo session. This price action has seen USDCHF break down from the previous days 24 pip area of congestion and into the previous sessions 0.9089 to 0.9060 area of support.

The key intraday levels to watch are 0.9060, 0.9089, 0.9107, 0.9131, 0.9137, 0.9150, 0.9159 and 0.9192.
The possible projected maximum daily ranges based upon current price action are 0.9050 to 0.9150.


Today’s scenarios
1. USDCHF has this morning traded down from the previous day’s high into the area of previous day’s support. I am monitoring a potential bounce off 0.9089.

2. Alternatively a potential break below 0.9060 has a downside intraday target of 0.9050.

Macro trade ideas
1. On a basis swing bases the trend is now positive following the breach of the prior isolated high. However the price action has been struggling to extend a move away from the downside sloping trend line. Notwithstanding this as long USDCHF can trade above 0.8889 being the current isolated low then the potential for a substantial upside breakout is possibility.

2. However the weekly time frame continues to point down. Therefore a sustained breach of the 34 period moving averages puts into play a move to the 0.8889 isolated low areas.

Macro technical levels
The macro technical levels are 0.9020 0.8930, 0.8570 and 0.9200.



Daily Technical Analysis for USDJPY as at 26th November 2013

Yesterday’s summary
Yesterday USDJPY traded aggressively higher during Tokyo session. However this upside momentum stalled as the price action approached the 102.00 level during the London and New York session.

Market open focus
The overnight and this morning’s Tokyo session have seen USDJPY experience a corrective pullback. I am monitoring the possibility that this negative market action continues into the London session.

The key intraday levels to watch are 99.54, 100.26, 100.95, 101.20, 101.60 and101.9.

The possible projected maximum daily ranges based upon current price action are 101.10 to 102.10.

Today’s scenarios
1. USDJPY is trading beneath yesterday’s high area of congestion. I am monitoring the potential for further downside under the 101.60 to 101.90 area with a target of 101.10

2. Alternatively a potential break above 101.90 has an intraday target of 102.10.

Macro trade ideas
1. With USDJPY having breached the prior swing high of the 17th October has changed the trend on a swing bias to up. The change of the daily trend now puts the swing bias in line with the weekly trend. The breach of both the downward sloping trend line and significant 100 levels now puts in play potential moves 103.73 swing level which is also a major multi year high. The previous 101.52 target having been breached this morning.

2. Alternatively as USDJPY is now becoming extended from its averages there is a possibility that USDJPY corrects down to these averages.

 

[ACFX.com]

Daily Technical Analysis from ACFX 12/2/2013


Daily Technical Analysis for EURUSD as at 2nd December 2013

Yesterday’s summary
Friday EURUSD traded within a tight 25 pip range during the Tokyo and London sessions prior to taking a 19 pip leg lower during New York trading. EURUSD finally closed at the upward sloping trend line.

The technical reason for Friday’s small range can be seen by the price action being squeezed between forces of support and resistance.

Market open focus
This morning’s Tokyo session has seen EURUSD trade some 31 higher off Friday’s session low. With the price action now trading above the trend line, I am monitoring possible break outs of this morning range during London trading.

The key intraday levels to watch are: 1.3489, 1.3517, 1.3598, and 1.3622.
The possible projected maximum daily ranges based upon current price action are 1.3535 to 1.3655.

Today’s scenarios
1. EURUSD is trading within a 31 pip early morning range. I am monitoring potential shorts below 1.3598 with a target of 1.3535.

2. Alternatively a potential break above 1.3622 has an upside intraday target of 1.3655.

Macro trade Ideas
1. The breach of the 16th October prior isolated low has changed the daily trend on a swing basis from up to down. The move back up to the averages and previously broken trend line has proved a good value area where shorts could be added. I am monitoring a continuation of the move down to the 7th November low at 1.3300 levels being a prior daily swing low.

2. Alternatively the weekly time frame continues to be swing positive. Therefore there is a possibility that the down trend on the daily chart is nothing more than a corrective sell off that brings the price action into potential value areas where long term swing position buy trades could be executed. It should also be noted that EURUSD has traded into a large Fibonacci support area where price action stalled and bounced. With this in mind there is potential for a substantial upside move that could bring the daily trend back into line with the weekly trend. This scenario is valid as long as EURUSD can trade above the 1st September swing long which comes in around the 1.3100 area.

The Macro Technical Targets
The upside targets are 1.3470, 1.3530, 1.3650, and 1.3830. The downside targets are 1.3300, 1.3200, 1.3100 and 1.2750.


Daily Technical Analysis for GBPUSD as at 2nd December2013

Yesterday’s summary
Friday GBPUSD closed 27 pips higher in what was a fairly volatile trading day of that printed a 70 pip range
The technical reason behind Friday’s relatively volatile session could be put down to need for GBPUSD catch its breath prior to breaking higher. Furthermore with the price action trading up to the 1.6385 to 1.6400 area of prior resistance and if you add to this the Friday factor with traders not wishing to place bets and add exposure over the weekend gave GBPUSD an excuse of closing without making any decisive move through or bounce lower off the current overhead resistance area.

Market open focus
This morning’s Tokyo session has been relatively active with GBPUSD resuming its upward momentum and gaining some 90 pips from the Friday night low. I am monitoring a potential for further upside momentum into the London open.

The key intraday levels to watch are: 1.6132, 1.6174, 1.6367 and 1.6442.
The possible projected maximum daily ranges based upon current price action are 1.6345 to 1.6452.

Today’s scenarios
1. GBPUSD has traded a 70 pip range during the Tokyo session and added some 90 pips off Friday nights low. After such a strong open with GBPUSD effectively printing one daily range during Tokyo trading further upside maybe limited. Notwithstanding this I am monitoring potential for further upside above 1.6442.

2. Alternatively as the price action is now extended from its averages there potential for an intraday correction. I am monitoring an initial move down to 1.6367.

Macro trade ideas
1. The breach of the 23rd October swing high has changed the trend on a daily swing basis from down to up. This move has also taken out the prior high of the 1st October and multi month trend line resistance. With the price action in the daily time frame also being confirmed on the weekly time frame there is potential for a multi month move higher with an attempt at the 1.7045 level.

2. Alternatively the rising wedge formation if triggered could offer a powerful selling opportunity that takes GBPUSD back down to the 7th July low of 1.4810.

Marco Technical Targets
1.6260, 1.6170, 1.5890, 1.5715, 1.5570, 1.5720



Daily Technical Analysis for USDCHF as at 2nd December 2013

Yesterday’s summary
Friday’s price saw USDCHF trade in a 43 pip range in. The session was volatile session as USDCHD attempted to move lower prior to reversing and closing the day at its highs. The bounce came off support that is being offered by the downward sloping broken trend line with the price action trading within a bullish falling wedge pattern. A breaks up or down from will either validate or fail this pattern formation.

Market open focus
USDCHF is trading within a 20 pip opening range. I am monitoring for signs of increased activity during the London session.

The key intraday levels to watch are 0.9027, 0.9055, 0.9107 and 0.9131.
The possible projected maximum daily ranges based upon current price action are 0.9000 to 0.9100.


Today’s scenarios
1. USDCHF is trading with a very tight opening range. I am monitoring for potential breaks 0.9055 with a target of 0.9100.

2. Alternatively a failure to break above 0.9055 could see USDCHF potentially trade down to 0.9027 with further targets being 0.9000.

Macro trade ideas
1. On a basis swing bases the trend is now positive following the breach of the prior isolated high. However the price action has been struggling to extend a move away from the downside sloping trend line. Notwithstanding this as long USDCHF can trade above 0.8889 being the current isolated low then the potential for a substantial upside breakout is possibility.

2. However the weekly time frame continues to point down. Therefore a sustained breach of the 34 period moving averages puts into play a move to the 0.8889 isolated low areas.
Macro technical levels
The macro technical levels are 0.9020 0.8930, 0.8570 and 0.9200.


Daily Technical Analysis for USDJPY as at 2nd December 2013

Yesterday’s summary
Friday saw USDJPY closed near its open in what was a fairly volatile 50 pip daily range.

The technical reasons behind Friday’s inactivity could be put down to USDJPY stellar rise which has seen the price action become extended from the averages. I will continue to monitor the 101.00 as a support area with the next logical target being the 22nd May swing pivot high of 103.70. However a controlled correction should not be ruled out.

Market open focus
This morning’s trading has been volatile with USDJPY trading within a 36 pip range. The price action is currently trading at the high of its morning range. I will be monitoring the price action for further upside during this morning’s trading.

The key intraday levels to watch are 100.13, 101.35, 102.24 and 102.61.

The possible projected maximum daily ranges based upon current price action are 101.90 to 102.85.

Today’s scenarios
1. USDJPY has traded in a 36 pip opening range. I am monitoring the price action for breaches of 102.61 with a target of 102.85.

2. Alternatively there is potential break below 102.24 with a target of 101.90.

Macro trade ideas
1. With USDJPY having breached the prior swing high of the 17th October has changed the trend on a swing bias to up. The change of the daily trend now puts the swing bias in line with the weekly trend. The breach of both the downward sloping trend line and significant 100 levels now puts in play potential moves 103.73 swing level which is also a major multi year high. The previous 101.52 target having been breached this morning.

2. Alternatively as USDJPY is now becoming extended from its averages there is a possibility that USDJPY corrects down to these averages.

 

[ACFX.com]

Daily Technical Analysis from ACFX 12/03/2013


Daily Technical Analysis for EURUSD as at 3rd December 2013

Yesterday’s summary
Yesterday’s trading saw EURUSD trade 55 lower in what was a 90 pip range day.
EURUSD continues to trade and close to the within a large expanding triangle and horizontal congestion range. Yesterdays down move coincided with EURUSD trading up into the previous 3 day’s session highs

Market open focus
This morning’s EURUSD has been trading within a 30 pip range. I am monitoring the price action as it trades with the 1.3557 to 1.3525 previous day’s range for an indication of possible market direction during today’s session.

The key intraday levels to watch are 1.3525 1.3557, 1.3598 and 1.3622.
The possible projected maximum daily ranges based upon current price action are 1.3485 to 1.3600.

Today’s scenarios

1. EURUSD is trading within a 30 pip early morning Tokyo range. I am monitoring potential shorts below 1.3525 with a target of 1.3485.

2. Alternatively a potential break above 1.3557 has an upside intraday target of 1.3600.

Macro trade Ideas
1. The breach of the 16th October prior isolated low has changed the daily trend on a swing basis from up to down. The move back up to the averages and previously broken trend line has proved a good value area where shorts could be added. I am monitoring a continuation of the move down to the 7th November low at 1.3300 levels being a prior daily swing low.

2. Alternatively the weekly time frame continues to be swing positive. Therefore there is a possibility that the down trend on the daily chart is nothing more than a corrective sell off that brings the price action into potential value areas where long term swing position buy trades could be executed. It should also be noted that EURUSD has traded into a large Fibonacci support area where price action stalled and bounced. With this in mind there is potential for a substantial upside move that could bring the daily trend back into line with the weekly trend. This scenario is valid as long as EURUSD can trade above the 1st September swing long which comes in around the 1.3100 area.

The Macro Technical Targets
The upside targets are 1.3470, 1.3530, 1.3650, and 1.3830. The downside targets are 1.3300, 1.3200, 1.3100 and 1.2750.


Daily Technical Analysis for GBPUSD as at 2nd December2013

Yesterday’s summary
Yesterday’s GBPUSD traded a 100 pip range which saw it close some 20 pips below its previous day’s close. It would appear the 1.6385 area is offering some resistance and with the price action extend from the averages is the possible technical reason for yesterdays sell off.

Market open focus
This morning’s open has been relatively busy with trading up by some 45 pips off this sessions low. This move has taken GBPUSD back into the 1.6373 to 1.6442 previous day’s trading range.

The key intraday levels to watch are 1.6132, 1.6174, 1.6373 and 1.6442.
The possible projected maximum daily ranges based upon current price action are 1.6300 to 1.6435.

Today’s scenarios
1. GBPUSD has traded back into the 1.6373 to 1.6442 previous day’s range. I am monitoring a potential up move to 1.6442.

2. Alternatively a cross back under 1.6373 could see GBPUSD trade back down to 1.6300.

Macro trade ideas
1. The breach of the 23rd October swing high has changed the trend on a daily swing basis from down to up. This move has also taken out the prior high of the 1st October and multi month trend line resistance. With the price action in the daily time frame also being confirmed on the weekly time frame there is potential for a multi month move higher with an attempt at the 1.7045 level.

2. Alternatively the rising wedge formation if triggered could offer a powerful selling opportunity that takes GBPUSD back down to the 7th July low of 1.4810.

Marco Technical Targets
1.6260, 1.6170, 1.5890, 1.5715, 1.5570, 1.5720



Daily Technical Analysis for USDCHF as at 3rd December 2013

Yesterday’s summary
Yesterday’s USDCHF traded a 67 pip range day as it closed 15 pips above the previous sessions high. Yesterday’s move came off a bounce off the downward sloping trend line as the price action has at the moving averages.

Market open focus
USDCHF has traded this morning within a 16 pip opening range. Today’s opening key price levels are 0.9110 to 0.9085. I am monitoring for breaks above or beneath this level.
The key intraday levels to watch are 0.9027, 0.9055, 0.9085 and 0.9110.
The possible projected maximum daily ranges based upon current price action are 0.9038 to 0.9135.


Today’s scenarios
1. USDCHF is trading with a very tight 16 pip opening range. I am monitoring for potential breaks 0.9110 with a target of 0.9135.

2. Alternatively a break beneath 0.9085 could see USDCHF potentially trade down to 0.9038.

Macro trade ideas
1. On a basis swing bases the trend is now positive following the breach of the prior isolated high. However the price action has been struggling to extend a move away from the downside sloping trend line. Notwithstanding this as long USDCHF can trade above 0.8889 being the current isolated low then the potential for a substantial upside breakout is possibility.

2. However the weekly time frame continues to point down. Therefore a sustained breach of the 34 period moving averages puts into play a move to the 0.8889 isolated low areas.

Macro technical levels
The macro technical levels are 0.9020 0.8930, 0.8570 and 0.9200.


Daily Technical Analysis for USDJPY as at 3rd December 2013

Yesterday’s summary
USDJPY yesterday’s trade some 35 pips lower off its open before reversing and trading higher by some 90 pips from that day’s low prior to selling off at the close by a marginal 21 pips. The move up could be viewed as an attempt to take out the 103.70 level which could happen during the course of this week’s trading. However the as the price action becomes extended from its averages a pull back is also possible.

Market open focus
This morning’s has seen USDJPY trade a 56 pip range. I am monitoring the 103.05 to 103.38 range.
The key intraday levels to watch are 100.13, 101.35, 103.05 and 103.38.
The possible projected maximum daily ranges based upon current price action are 102.70 to 103.70.


Today’s scenarios
1. This morning USDJPY traded within a 31 pip range. I am monitoring the price action for breaches of 103.38 with a target of 103.70.

2. Alternatively a breach of 103.05 could see USDJPY trade down to 102.70.

Macro trade ideas
1. With USDJPY having breached the prior swing high of the 17th October has changed the trend on a swing bias to up. The change of the daily trend now puts the swing bias in line with the weekly trend. The breach of both the downward sloping trend line and significant 100 levels now puts in play potential moves 103.73 swing level which is also a major multi year high. The previous 101.52 target having been breached this morning.

2. Alternatively as USDJPY is now becoming extended from its averages there is a possibility that USDJPY corrects down to these averages.

 

[ACFX.com]

Daily Technical Analysis from ACFX 12/04/2013

Daily Technical Analysis for EURUSD as at 4th December 2013

Yesterday’s summary
Yesterday’s trading saw EURUSD end 50 odd pips higher from the previous day’s close whilst trading a ninety pip range.
The price action continues to have a negative daily swing bias whilst trading within a large expanding triangle and horizontal congestion range.

Focus on today
This morning’s EURUSD had been trading within a 15 pip range but has since broken down over the past two hours and is now trading 30 pips lower off its intraday high.

EURUSD is trading with the yesterday’s high range which is 1.3569, 1.3614. I am monitoring the potential for this trading range to hold with theprice action bouncing within these levels. Alternatively breaks above or beneath this range could offer potential trading opportunities in the direction of the break out or break down.

Macro trade Ideas
1. The breach of the 16th October prior isolated low has changed the daily trend on a swing basis from up to down. The move back up to the averages and previously broken trend line has proved a good value area where shorts could be added. I am monitoring a continuation of the move down to the 7th November low at 1.3300 levels being a prior daily swing low.

2. Alternatively the weekly time frame continues to be swing positive. Therefore there is a possibility that the down trend on the daily chart is nothing more than a corrective sell off that brings the price action into potential value areas where long term swing position buy trades could be executed. It should also be noted that EURUSD has traded into a large Fibonacci support area where price action stalled and bounced. With this in mind there is potential for a substantial upside move that could bring the daily trend back into line with the weekly trend. This scenario is valid as long as EURUSD can trade above the 1st September swing long which comes in around the 1.3100 area.

The Macro Technical Targets
The upside targets are 1.3470, 1.3530, 1.3650, and 1.3830. The downside targets are 1.3300, 1.3200, 1.3100 and 1.2750.


Daily Technical Analysis for GBPUSD as at 4th December2013

Yesterday’s summary
Yesterday’s trading saw GBPUSD close 34 pips higher from the previous day’s close whilst trading a 90 pip range.
The price action continues to have a positive daily swing bias whilst at major resistance of 1.6385.

Focus on today
This morning’s GBPUSD had been trading within a 20 pip range but has since broken down over the past hour and is now trading 25 pips lower off its intraday high.

GBPUSD is trading with the yesterday’s high range which is 1.6368 to 1.6442. I am monitoring the potential for this trading range to hold with the price action bouncing within these levels. Alternatively breaks above or beneath this range could offer potential trading opportunities in the direction of the break out or break down.

Macro trade ideas
1. The breach of the 23rd October swing high has changed the trend on a daily swing basis from down to up. This move has also taken out the prior high of the 1st October and multi month trend line resistance. With the price action in the daily time frame also being confirmed on the weekly time frame there is potential for a multi month move higher with an attempt at the 1.7045 level.

2. Alternatively the rising wedge formation if triggered could offer a powerful selling opportunity that takes GBPUSD back down to the 7th July low of 1.4810.

Marco Technical Targets
1.6260, 1.6170, 1.5890, 1.5715, 1.5570, 1.5720


Daily Technical Analysis for USDCHF as at 4th December 2013

Yesterday’s summary
Yesterday’s trading saw USDCHF close 41 pips lower from the previous day’s close whilst trading a 78 pip range.

The price action continues to have a positive daily swing bias whilst trading within a bullish flag formation.

Focus on today
This morning’s EURUSD had been trading within a 10 pip range but has since broken higher over the past 2 hours and is now trading 13 pips lower off its intraday low.

USDCHF is trading with the yesterday’s low range which is 0.9020 to 0.9059. I am monitoring the potential for this trading range to hold with the price action bouncing within these levels. Alternatively breaks above or beneath this range could offer potential trading opportunities in the direction of the break out or break down.

Macro trade ideas
1. On a basis swing bases the trend is now positive following the breach of the prior isolated high. However the price action has been struggling to extend a move away from the downside sloping trend line. Notwithstanding this as long USDCHF can trade above 0.8889 being the current isolated low then the potential for a substantial upside breakout is possibility.

2. However the weekly time frame continues to point down. Therefore a sustained breach of the 34 period moving averages puts into play a move to the 0.8889 isolated low areas.

Macro technical levels
The macro technical levels are 0.9020 0.8930, 0.8570 and 0.9200.


Daily Technical Analysis for USDJPY as at 4th December 2013

Yesterday’s summary
Yesterday’s trading saw USDJPY close 43 pips lower from the previous day’s close whilst trading a 140 pip range.
The price action continues to have a positive daily swing bias. The 103.70 level is still offering both a target and a strong resistance level to current market activity.

Focus on today
This morning’s USDJPY had been trading within a 42 pip range but has since broken up over the past two hours and is now trading 59 pips higher off its intraday low.

USDJPY is trading between the 100.13, 101.35 and 103.05, 103.38 intraday low to high ranges. I am currently monitoring the potential into the 103.05 to 103.38 resistance area. Alternatively a failure to break into this upper range could see USDJPY trade back down to the 103.13 to 103.35 support range.

Macro trade ideas
1. With USDJPY having breached the prior swing high of the 17th October has changed the trend on a swing bias to up. The change of the daily trend now puts the swing bias in line with the weekly trend. The breach of both the downward sloping trend line and significant 100 levels now puts in play potential moves 103.73 swing level which is also a major multi year high. The previous 101.52 target having been breached this morning.

2. Alternatively as USDJPY is now becoming extended from its averages there is a possibility that USDJPY corrects down to these averages.

 

[ACFX.com]

Daily Technical Analysis from ACFX 12/05/2013

Daily Technical Analysis for EURUSD as at 5th December 2013

Yesterday’s summary
Yesterday’s trading saw EURUSD end the session slightly higher from its open whilst trading a 75 pip range.
The price action continues to have a negative daily swing bias whilst trading within a large expanding triangle and horizontal congestion range.

Focus on today
This morning’s EURUSD has broken higher in early trading. EURUSD is now trading above the highs of the previous 6 trading sessions and is currently trading 40 pips above its intraday low and printed a large 60 pip daily range.
AS EURUSD is trading within today’s high range which is 1.3600 to 1.3640, I am monitoring the potential for this trading range to hold with the price action bouncing within these levels. Alternatively breaks above or beneath this range could offer potential trading opportunities in the direction of the break out or break down.

Key intraday levels:
EURUSD: 1.3523 1.3557, 1.3600, 1.3640.




Daily Technical Analysis for GBPUSD as at 55h December2013

Yesterday’s summary
Yesterday’s trading saw GBPUSD end the session slightly lower from its open whilst trading an 83 pip range.
The price action continues to have a positive daily swing bias and is currently trading around the 1.6400 area which appears to be a major resistance level.

Focus on today
This morning’s GBPUSD had been trading within a 12 pip range but has since broken higher over the past hour and is now trading 33 pips off its intraday low.
As GBPUSD is trading within the yesterday’s high range which is 1.6368 to 1.6442. I am monitoring the potential for this trading range to hold with the price action bouncing within these levels.
Alternatively breaks above or beneath this range could offer potential trading opportunities in the direction of the break out or break down.

Key intraday levels:
GBPUSD: 1.6132, 1.6174, 1.6368, 1.6442.




Daily Technical Analysis for USDCHF as at 5th December 2013

Yesterday’s summary
Yesterday’s trading saw USDCHF close 21 pips lower from that day’s open whilst trading a 64 pip range.

The price action continues to have a positive daily swing bias whilst trading within a bullish flag formation.

Focus on today
This morning’s USDCHF had been trading within a 7 pip range but has since broken down over the past 4 hours and is now trading 15 pips lower off its intraday high.

As USDCHF is trading within the today’s low range which is 0.9010 to 0.8983, I am monitoring the potential for this trading range to hold with the price action bouncing within these levels. Alternatively breaks above or beneath this range could offer potential trading opportunities in the direction of the break out or break down.

Key intraday levels:
USDCHF: 0.8983, 0.9010, 0.9084, 0.9110.




Daily Technical Analysis for USDJPY as at 5th December 2013

Yesterday’s summary
Yesterday’s trading saw USDJPY close 18 pips lower from the previous day’s open whilst trading a 102 pip range.
The price action continues to have a positive daily swing bias. The 103.70 level is still offering both a target and a strong resistance level to current market activity.

Focus on today
This morning’s USDJPY had been trading within a 26 pip range but has since broken down over the past three hours and is now trading 58 pips lower off its intraday high.
USDJPY is trading between the 101.13, 101.35 and 103.05, 103.38 intraday low to high ranges. I am currently monitoring a potential move into the 101.35 to 101.13 support area. Alternatively a failure to break into this lower range could see USDJPY trade back up to the 103.05 to 103.38 resistance range.

Key intraday levels:
USDJPY: 100.13, 101.35, 103.05, 103.38.

 

[ACFX.com]

Daily Technical Analysis fro ACFX 12/06/2013


Daily Technical Analysis for EURUSD as at 6th December 2013

Yesterday’s summary
Yesterday’s trading saw EURUSD end the session 75 pips higher from its open whilst trading a 135 pip range.
The price action continues to have a negative daily swing bias whilst trading within a large expanding triangle. However yesterday price action did manage to trade and close above the large horizontal congestion range. This could indicate that EURUSD will attempt to trade up to the 25th October high at 1.3832.

Focus on today
This morning’s EURUSD has broken lower in early trading. EURUSD is now trading below the low of the previous day’s high range of 1.3659 to 1.3678.

As EURUSD is trading just below yesterday’s high range which is 1.3659 to 1.3678, I am monitoring the potential for this trading range to hold with the price action bouncing within these levels.
Alternatively breaks above or beneath this range could offer potential trading opportunities in the direction of the break out or break down.

Key intraday levels:
EURUSD: 1.3524 1.3557, 1.3659, 1.3678.




Daily Technical Analysis for GBPUSD as at 6th December2013

Yesterday’s summary
Yesterday’s trading saw GBPUSD end the session 48 pips lower from its open whilst trading a 104 pip range.
The price action continues to have a positive daily swing bias and is currently trading under the 1.6400 area which appears to be a major resistance level but is finding support at the 8 period moving averages.

Focus on today
This morning’s GBPUSD had been trading within a 10 pip range but appears to attempting to break lower over the past 3 hours and is now trading 23 pips off its intraday high.

GBPUSD is trading between the 1.6132/1.6174 and 1.6368/1.6442 low and high congestion zones. I am monitoring the potential for price action to break up or down to these ranges.

Key intraday levels:
GBPUSD: 1.6132, 1.6174, 1.6368, 1.6442.



Daily Technical Analysis for USDCHF as at 6th December 2013

Yesterday’s summary
Yesterday’s trading saw USDCHF close 57 pips lower from that day’s open whilst trading a 94 pip range.

The price action continues to have a positive daily swing bias but appears to be break lower from its bullish flag formation.

Focus on today
This morning’s EURUSD had been trading within a 20 pip range but appears to attempting to break out to the upside and is now trading 22 pips lower off its intraday low.

As USDCHF is trading within the today’s low range which is 0.8956 to 0.8976, I am monitoring the potential for this trading range to hold with the price action bouncing within these levels.

Alternatively breaks above or beneath this range could offer potential trading opportunities in the direction of the break out or break down.

Key intraday levels:
USDCHF: 0.8956, 0.8976, 0.9084, 0.9110.



Daily Technical Analysis for USDJPY as at 6th December 2013

Yesterday’s summary
Yesterday’s trading saw USDJPY close 59 pips lower from the previous day’s open whilst trading an 82 pip range.
The price action continues to have a positive daily swing bias. The 103.70 level is still offering both a target and a strong resistance level to current market activity.

Focus on today
This morning’s USDJPY had been trading within a 19 pip range but has since broken up over the past 4 hours and is now trading 57 pips lower off its intraday low.

USDJPY is trading between the 101.13, 101.35 and 103.05, 103.38 intraday low to high ranges. I am currently monitoring a potential move into the 101.35 to 101.13 support area. Alternatively a failure to break into this lower range could see USDJPY trade back up to the 103.05 to 103.38 resistance range.

Key intraday levels:
USDJPY: 101.80, 102.36, 103.05, 103.38.

 

[ACFX.com]

Daily Technical Analysis for 11th December 2013 from ACFX

EURUSD

Yesterday’s summary
Yesterday’s trading saw EURUSD end the session 24 pips higher from its open whilst trading a 63 pip range.
The price action continues to have a negative daily swing bias whilst trading within a large expanding triangle.

However I am now seeing a acceleration to the upside following a break above the large horizontal congestion range. This could indicate that EURUSD will attempt to trade up to the 25th October high at 1.3832.

Focus on today
This morning’s EURUSD is trading below the previous day’s high within range and within a 24 pip early morning Tokyo session range. Furthermore currently EURUSD is also trading within the 1.3755 to 1.3795 resistance zone.
AS EURUSD is trading within 1.3755/1.3795 range, I am monitoring the potential for this trading range to hold with the price action bouncing between these levels.

Alternatively breaks above or beneath this range could offer potential trading opportunities in the direction of the break out or break down.

Key intraday levels
EURUSD: 1.3520 1.3565, 1.3755, 1.3795


GBPUSD

Yesterday’s summary
Yesterday’s trading saw GBPUSD end the session 16 pips higher from its open whilst trading a 48 pip range.
The price action continues to have a positive daily swing bias and is currently trading above the 1.6400 resistance area following the bounce off the 8 period moving averages.

Focus on today
This morning’s GBPUSD is trading beneath the previous day’s high and within a 24 pip early morning Tokyo session range. Furthermore currently GBPUSD is also trading within the 1.6445 to 1.6365 resistance zone.
AS GBPUSD is trading within 1.6445/1.6365 range, I am monitoring the potential for this trading range to hold with the price action bouncing between these levels.

Alternatively breaks above or beneath this range could offer potential trading opportunities in the direction of the break out or break down.

Key intraday levels
GBPUSD: 1.6130, 1.6175, 1.6365, 1.6445.


USDJPY

Yesterday’s summary
Yesterday’s trading saw USDJPY close 44 pips lower from its open whilst trading an 83 pip range.
The price action continues to have a positive daily swing bias with the price action hovering above the 8 period moving averages. The 103.70 level is still offering both a target and a strong resistance level to current market activity.

Focus on today
This morning’s USDJPY is trading beneath the previous day’s high and within a 53 pip early morning Tokyo session range. Furthermore currently USDJPY is also trading between the 102.00/102.35 to 103.05/103.40 price congestion areas.
AS USDJPY is trading between the 102.00/102.35 to 103.05/103.40 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 between the 102.35 to 103.05 levels for the rest of the day.

Key intraday levels
USDJPY: 102.00, 102.35, 103.05, 103.40


USDCHF

Yesterday’s summary
Yesterday’s trading saw USDCHF close 30 pips lower from its open whilst trading a 57 pip range.

Following yesterday’s break of 24th October low at 0.8889 the trend in USDCHF has changed to negative on a swing bases.

Focus on today
This morning’s USDCHF is trading above the previous day’s low and within a 20 pip early morning Tokyo session range. Furthermore currently USDCHF is also trading within the 0.8850 to 0.8910 resistance zone.
AS USDCHF is trading within 0.8850/0.8910 range, I am monitoring the potential for this trading range to hold with the price action bouncing between these levels.

Alternatively breaks above or beneath this range could offer potential trading opportunities in the direction of the break out or break down.

Key intraday levels
USDCHF: 0.8850, 0.8910, 0.9080, 0.9110

 

[ACFX.com]

Daily Technical Analysis for 12th December 2013 from ACFX

EURUSD

Yesterday’s summary
Yesterday’s trading saw EURUSD end the session 26 pips higher from its open whilst trading a 73 pip range.
The price action continues to have a negative daily swing bias whilst trading within a large expanding triangle.

However I am now seeing a acceleration to the upside following a break above the large horizontal congestion range. This could indicate that EURUSD will attempt to trade up to the 25th October high at 1.3832.

Focus on today
This morning’s EURUSD is trading below the previous day’s high within range and within a 25 pip early morning Tokyo session range. Furthermore currently EURUSD is also trading within the 1.3811 to 1.3763 resistance zone.

AS EURUSD is trading within 1.3811/1.3763 range, I am monitoring the potential for this trading range to hold with the price action bouncing between these levels.

Alternatively breaks above or beneath this range could offer potential trading opportunities in the direction of the break out or break down.

Key intraday levels
EURUSD: 1.3520 1.3565, 1.3763, 1.3811


GBPUSD

Yesterday’s summary
Yesterday’s trading saw GBPUSD end the session 71 pips lower from its open whilst trading a 118 pip range.
The price action continues to have a positive daily swing bias and is currently trading above the 1.6400 resistance area following the bounce off the 8 period moving averages.

Focus on today
This morning’s GBPUSD is trading above the previous day’s low and within a 53 pip early morning Tokyo session range. Furthermore currently GBPUSD is also trading between the 1.6130/1.6175 to 1.6419/1.6466 congestion areas.

AS GBPUSD is trading between the 6130/1.6175 to 1.6419/1.6466 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 1.6175 to 1.6419 levels for the rest of the day.

Key intraday levels
GBPUSD: 1.6130, 1.6175, 1.6419, 1.6466.


USDJPY

Yesterday’s summary
Yesterday’s trading saw USDJPY close 40 pips lower from its open whilst trading an 80 pip range.
The price action continues to have a positive daily swing bias with the price action hovering above the 8 period moving averages. The 103.70 level is still offering both a target and a strong resistance level to current market activity.

Focus on today
This morning’s USDJPY is trading beneath the previous day’s high and within a 39 pip early morning Tokyo session range. Furthermore currently USDJPY is also trading between the 102.00/102.35 to 103.05/103.40 price congestion areas.

AS USDJPY is trading between the 102.00/102.35 to 103.05/103.40 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 102.35 to 103.05 levels for the rest of the day.

Key intraday levels
USDJPY: 102.00, 102.35, 103.05, 103.40.


USDCHF

Yesterday’s summary
Yesterday’s trading saw USDCHF close 12 pips lower from its open whilst trading a 47 pip range.

Following yesterday’s break of 24th October low at 0.8889 the trend in USDCHF has changed to negative on a swing bases.

Focus on today
This morning’s USDCHF is trading above the previous day’s low and within a 16 pip early morning Tokyo session range. Furthermore currently USDCHF is also trading within the 0.8880 to 0.8840 price congestion zone.

AS USDCHF is trading within 0.8880/0.8840 range, I am monitoring the potential for this trading range to hold with the price action bouncing between these levels.

Alternatively breaks above or beneath this range could offer potential trading opportunities in the direction of the break out or break down.

Key intraday levels
USDCHF: 0.8840, 0.8880, 0.9080, 0.9110.