Daily Market Report – 29 October 2015

Posted On 29 Oct 2015
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End of Day Technical Analysis Report for:

EURUSD, GBPUSD, AUDUSD, USDJPY

WTI Crude,

GOLD, SP500, and US30Y



► EUR/USD: price still in new downtrend but retracing back to 1.1000. We are looking for a clear price action signal at confluent resistance to go Short.
Technical Recommendation: Looking for a pull back to confluent resistance.
                                                                 EURUSD – Daily

GBP/USD: we are still STTS Short. Today’s bounce at 1.5250 support suggests this pair may be going sideways to slightly up at least for tomorrow but we will remain Short as technically we see this as just a retracement within a downtrend, also supported by the fact that our Fundamental team were very bearish as of last week.

Technical Recommendation: We are Short. Position overall ca +20 pips in profit.

                                                                 GBPUSD – Daily

► AUD/USD: we are still STTS Short. Position closed lower today making a lower low so we remain bearish and Short.
Technical Recommendation: We are Short. Position +120 pips in profit.
                                                                 AUDUSD – Daily
                           Back to Top

► USDJPY: today’s inside pin bar suggests a test of 121.70 resistance is imminent but we will resist going Long with such low R:R (assuming 121.70 will act as resistance of course).

Technical Recommendation: Bullish bias. Look for price to reach 121.70 tomorrow.
                                                                 USDJPY – Daily

► WTI Crude: as discussed yesterday, the large green candle off 43.35 support (revised from 43.50) was a bullish sign for a likely upside resumption, but we would like to see a retracement before considering going Long again. Today’s doji at the 20 ema may give us that!

Technical Recommendation: should be looking to go Long on a retracement of today’s green candle.

                                                                WTI – Daily

GOLD: still STTS Short and loving today’s market action. We remain Short and have ambitious targets for this trade.

Technical Recommendation: We are Short. Position +165 pips in profit.

                                                               XAUUSD – Daily

► SP500a small doji today as price comes ever closer to key 2100 resistance. We will be watching what price action does at this level when it’s reached.
Technical Recommendation: Look for price to stall at 2100.
                                                               SP500 – Daily

► US30Y: yesterday’s manual Exit at 158.03 for a small profit, decision taken post FOMC volatility after a long tailed counter pin bar against the previous day’s signal, was a wrong one. We lost out on today’s move which reached our intended 1st Target at 155.80.
As part of our ongoing commitment to educating our readers, we posted an article for our STTS subscribers here: Short Term Setups – 29 October 2015 Lesson Learnt
Technical Recommendation: T1 reached, but we got out yesterday for a small profit! Re-assessing.
                                                        US30Y Dec Future – Daily

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