Daily Majors and Commodities Technical Analysis

EURUSD

Trend

The Swing strategy is short.

The Alligator strategy neutral.

Warning

Potential higher low.

Overview

The Swing Strategy.

This morning’s price action has put in a potential higher low. A break of the 18th June highs will potentially signify a change of trend to the long side.

The Alligator Strategy.

The Alligator indicator has turned neutral.

Possible range

The daily range based upon the most recent Average True Range readings is 122 pips. This implies that EURUSD could potentially trade between 1.25386 and 1.27826.

Long scenario

• Conservative long above 1.27468 being the last daily fractal high.

• Aggressive long neutral.

Short scenario

• Conservative short beneath 1.24066 being the last daily fractal low.

• Aggressive short neutral.

GBPUSD

Trend

The Swing strategy is short.

The Alligator strategy is neutral.

Warning

Potential higher low is forming.

Overview

Swing Strategy

GBPUSD on Friday closed above the range of the swing low of the 28th June. A breach of the 20th June high will confirm a new uptrend.

Alligator Strategy

The Alligator indicator has turned neutral.

Possible range

The daily range based upon the most recent Average True Range readings is 126 pips. This implies that GBPUSD could potentially trade between 1.55768 and 1.58288.

Long scenario

• Conservative long above 1.56494 being the last daily fractal high is in play.

• Aggressive long neutral.

Short scenario

• Conservative short, beneath 1.54853 being the last daily fractal low.

• Aggressive short sell pullbacks into the deferred MA’s.

USDCHF

Trend

The Swing strategy is long.

The Alligator strategy is neutral.

Warning

Potential lower high forming.

Overview

Swing strategy.

Friday’s sell off is forming a potential lower high. A close beneath yesterdays range will signal a potential short signal and a breach of the 18th June lows a change of trend..

Alligator strategy

The Alligator indicator has turned neutral.

Possible range

The daily range based upon the most recent Average True Range readings is 92 pips. This implies that USDCHF could potentially trade between 0.93954 and 0.95794.

Long scenario

• Conservative long above 0.96779 being the last daily fractal high.

• Aggressive long buy neutral.

Short scenario

• Conservative short below 0.94216 being the last daily fractal low.

• Aggressive short neutral.

USDJPY

Trend

The Swing strategy is short.

The Alligator strategy is long.

Warning

Price action has broken a minor swing high. Inverse Head and Shoulders pattern forming.

Overview

Swing Strategy

The price action has broken a previous minor swing high and is now trading above its channel. We are watching for a weak pullback before a further up move.

Alligator strategy.

The Alligator indicator has turned long.

Possible range

The daily range based upon the most recent Average True Range readings is 0.6504. This implies that USDJPY could potentially trade between 79.1606 and 80.4614.

Long scenario

• Conservative long above 80.613 being the last daily fractal high.

• Aggressive long buy pullbacks into the deferred MA’s.

Short scenario

• Conservative short below 79.526 being the last daily fractal low.

• An aggressive short neutral.