Daily Technical Report – 02 Dec 15

Posted On 02 Dec 2015
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End of Day Technical Analysis Report for:


 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



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