Daily Technical Report – 30 Nov 15

Posted On 30 Nov 2015

By : TFF

End of Day Technical Analysis Report for:

EURUSD, GBPUSD, AUDUSD, USDJPY

GOLD, and SP500

► EUR/USD: with the 8 ema still acting as dynamic resistance the downtrend appears intact. The last few sessions traded inside last Wednesday’s mother candle so this could act as an inside bar set-up. Today price broke through the low but did not close through it so not quite a trigger. 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.

EURUSD – Daily

► GBP/USD: as stated in the weekend’s STTS analysis, after last week’s bearish continuation, this pair looks now set to break to the downside and re-test 1.4635 support. However, today’s pin bar could see the market retrace to the EMA layer and 1.5120 where we will look to go Short.

Technical Recommendation: Looking to go Short.

GBPUSD – Daily

► AUD/USD: this pair appears to be trading in a tight range between 0.7185 and 0.7275. Today’s bull candle causes an upward rotation which could mean an uptrend resumption with the old trendline acting as dynamic support.

Technical Recommendation: Looking to go Long.

AUDUSD – Daily

► USDJPY: a very disappointing week last week as we got stopped out of our Long(s) yet price ended closing well off the lows. Today’s bullish continuation could mean further upside but we remain cautious in this pair which seems to have the upside capped at the moment.

Technical Recommendation: Stopped out. Re-assessing.

USDJPY – Daily

► GOLD: Gold price broke through 1070 key support and stopped us out last week. Next support is at 1044 but it’s minor. In all likely hood we are now going to see price re-test the 1000$ mark. As today’s action pulled back to 1069 resistance we will be on the look-out for any shorting opportunities.Technical Recommendation: Looking to go Short.

XAUUSD – Daily

► SP500: we maintain our Long stance expecting to see further upside into Xmas. Probably in slow grind mode as per previous rallies which made new highs. We are long in 1/2 Risk and would like to add to this position. Today’s Doji doesn’t entice us just yet.

Technical Recommendation: We are Long and looking to add to it.

SP500 – Daily

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