Daily Technical Report – 02 Dec 15

Posted On 02 Dec 2015
By :
Tag: , , , , ,

End of Day Technical Analysis Report for:

EURUSD, GBPUSD, AUDUSD, USDJPY

 GOLD, and SP500



► EUR/USD: today this pair attempted a downside breakout but failed as price gravitated back to 1.0620 resulting in a bullish pin bar. So, as we suggested yesterday, this mean we may see a bit more of a pull back which we will look at as an opportunity to sell. Price should remain on course for re-testing 1.0465 key support (off the daily chart) so any Short needs to have a sufficient R:R for this target.
Technical Recommendation: Looking to go Short higher up.
                                                                 EURUSD – Daily

GBP/USD: yesterday we said we would consider going Short if we got bearish confirmation today, which we did intraday. So we went STTS Short at 1.5060 prior to the ensuing collapse, based on a Sell signal in the 1 hr time-frame. There is virtually no support until 1.4635.

Technical Recommendation: We are Short.

                                                                 GBPUSD – Daily

► AUD/USD: today the Aussie paused after a substantial 2 day rally which we missed. The pair still looks headed to test 0.7360 resistance, so there may still be a chance of a short term Long if we get a bit more of a retracement but for now we remain sidelined.
Technical Recommendation: Stand aside.
                                                                 AUDUSD – Daily
                           Back to Top

► USDJPY: today price attempted to break-out of the recent range 122.25-123.50 but failed. Not a strong enough rejection to call a reversal but we may see more downside next few sessions to re-test the bottom of the range.

Technical Recommendation: Stand aside.

                                                                 USDJPY – Daily

GOLD: after yesterday’s potential bearish fakey set-up, today price attempted a breakout of the bottom of the mother candle range only to close back above it. A fakey the other way? Given the strength of the recent downtrend and today’s action we are inclined to believe we are now going to see price re-test the 1000$ mark.

Technical Recommendation: Looking to go Short.

                                                               XAUUSD – Daily

► SP500: after yesterday’s upward rotation we decided to add to our Long position so we are now Long in 1 x Risk. Today’s action does point at short term weakness but we hope our Stops are sufficiently far away to remain Long.
Technical Recommendation: We are Long.
                                                               SP500 – Daily

CHECK OUR INTERACTIVE ECONOMIC CALENDAR FOR UPCOMING WORLDWIDE DATA RELEASES

DISCLAIMER

The information contained in this publication is not intended as an offer or solicitation for the purchase or sale of any financial instrument. Users acknowledge and agree to the fact that, by its very nature, any investment in CFDs and similar and assimilated products is characterised by a certain degree of uncertainty and that, consequently, any investment of this nature involves risks for which the user is solely responsible and liable.

Any recommendation, opinion or advice contained in such material reflects the views of TFF, and TFF expressly disclaims any responsibility for any decisions or for the suitability of any security or transaction based on it. Specifically, any decisions you may make to buy, sell or hold a security based on such research will be entirely your own and not in any way deemed to be endorsed or influenced by or attributed to TFF.

Past performance should not be seen as an indication of future performance. Market and exchange rate movements may cause the value of your investment to rise or fall and an investor may not get back the amount invested.

Investors considering opening a self-trading account should limit their exposure to maximum 10% of their investment capital.

Investments are not obligations of, deposits in, insured or guaranteed by TFF.

About the Author
TFF aims to provide our customers with the best skills and knowledge to achieve their personal financial goals and level the playing field. The senior officials and staff of the TFF Team have more than 80 years experience in financial product trading, sales and fund management. For more information on TFF CLICK HERE.

Related Posts

Leave a Reply

*