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Daily Technical Report 03 June 2015
End of Day Technical Analysis Report for:
EURUSD, GBPUSD, AUDUSD, USDJPY, USDCAD,
GOLD
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
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.
► 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
► SP500: yesterday’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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