Daily Technical Report 03 June 2015

Posted On 03 Jun 2015
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End of Day Technical Analysis Report for:




and DAX

► EUR/USD: yesterday we switched our stance to going Long on a pull back but we didn’t really get one today. Market surged ahead and left us behind. Price seems now headed towards 1.1450 resistance so we will be looking for any buying opportunities on the way to this target.
Technical Recommendation: Looking to go Long.
                                                                 EURUSD – Daily

GBP/USD:went Long yesterday after our daily report was issued. Today’s pin bar bodes well for this trade.
Technical Recommendation: We are Long.
                                                                 GBPUSD – Daily

► AUD/USD: after yesterday’s very strong close today we got a spinning top doji at confluent resistance. Price still inside the EMA layer and at 50 sma resistance so we will remain sidelined for now.
Technical Recommendation: Stand aside with a preference to go Long.
                                                                 AUDUSD – Daily
                             Back to Top

► USD/JPY: an inside candle today. Upside breakout would be a good Long opportunity. Downside breakout could also be a possible reversal trade but …. heard the term ‘like stoppi8ng a runaway train’?
Technical Recommendation: Look to go Long on a retracement.
                                                                 USDJPY – Daily

► USD/CAD: an inside candle today with a bit of a wick. A break to the downside could be the Shorting opportunity we have been looking for.
Technical Recommendation: Re-assessing.
                                                                 USDCAD – Daily

GOLD: price still inside the megaphone pattern. Yesterday we did suggest there might be a quick Short trade on to the bottom trendline of this pattern and today’s bearish candle supports that stance. We remain sidelined however.
Technical Recommendation: Stand aside.
                                                                 XAUUSD – Daily

► SP500yesterday’s long tailed pin bar was indeed followed by strength today. Market may attept new highs. We are not going to go Long at these levels but rather look for a shorting opportunity.
Technical Recommendation: Looking to go Short.
                                                                SP500 – Daily

DAX:  we are still STTS Short. Today’s long wicked pin bar is a good sign for our trade.

Technical Recommendation: We are Short. Position 275 points in profit.
                                                                 DAX – Daily




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