Daily Market Report – 24 August 2015

Posted On 24 Aug 2015

By : TFF

End of Day Technical Analysis Report for:

SP500, DAX, and US30Y

► EUR/USD: the Euro today broke through key resistance at 1.1430 where we had expected the market to pause, as discussed in yesterday’s Bonus Video. Next level of resistance is not until 1.2000 so there is still room for going Long BUT we should look for a retrecement, ideally back to re-test 1.1430 as support.

Technical Recommendation: Look for a retracement to go Long.

EURUSD – Daily

► GBP/USD: as discussed in yesterday’s Video this pair looked like wanting to burst to the upside so we went STTS Long earlier today and so did our subscribers who received the signal in timely fashion. We have 2 targets as always and the second one is off the following chart.

Technical Recommendation: We are Long. Position +60 pips in profit.

GBPUSD – Daily

► AUD/USD: the Aussie dumped once again today and broke through recent 0.7230 support. It wasn’t until 0.7100 long term prior support that the market met with short covering. No more room to be Short in our opinion so we should be looking for opportunities to go Long but only on a clear signal, which we do not yet have.

Technical Recommendation: Look for price to rebound.

AUDUSD – Daily

► USD/JPY: we missed the big move while still on holiday. Price today literally collapsed through all static supports and finally met with buying at prior 116.10 significant level. We should now look for a re-tracement to the 50 Fib level around 120.50. R:R not sufficent for us here though.

Technical Recommendation: Look for a retracement to 120.50.

USDJPY – Daily

► NZD/USD: today this pair staged the biggest pin bar I have seen for a long time after an intraday collapse of 560 pips. Such strong buying off the lows could not be ignored so we went STTS Long intraday using a 2 entry strategy and a Stop we hope sufficiently far away though still inside the pin bar tail, to allow for a reasonable R:R. Normally we would place our stop below the pin bar low but with suck a long tail, an exception can be made. Let’s hope we don’t get stopped out!

Technical Recommendation: We ar Long. Hoping for 2nd Limit Buy order to get filled before an upward rotation.

NZDUSD – Daily

► GOLD: market pauses at 1170 level, as discussed in yesterday’s video. Not a sell signal, as the red candle body did not engulf Friday’s green candle body. Nethertheless we should expect a retracement in the next few sessions, possibly down to 1130.

Technical Recommendation: Look for a retracement.

XAUUSD – Daily

► SP500: we had to zoom out considerably to draw our chart and try to capture a prior level of support to this major sell off, which dates back to October of last year and seems to be at 1813. As discussed in yesterday’s Bonus Video, having missed the sell-off due to holidays, we are forced to spectate right now. However traders should be looking for a buying opportunity around these levels as a rebound is likely.

Technical Recommendation: Look for a rebound.

SP500 – Daily

► DAX30: after major collapse the index seems to have met with buying at 9375 prior support. Look for a retracement to 10,000 or possibly 10,500.

Technical Recommendation: Looking for a retracement.

DAX30 – Daily

► US30Y: as discussed in yesterday’s Bonus Video today we reacted intraday to a rejection of higher prices at prior resistance above 162.00 and went STTS Short using a 2 entry strategy. Hoping to get filled on second limit sell order tomorrow and looking for subsequent major downside correction.

Technical Recommendation: We are Short.

US30Y Sep Future – Daily

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