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End of Day – 01 July 2015
End of Day Technical Analysis Report for:
EURUSD, GBPUSD, AUDUSD, USDJPY, USDCAD
, WTI Crude, SP500, DAX, and US30Y
► EUR/USD: another retracement of Monday’s crazy green candle. With the long weekend in the US, tomorrow’s NFP will be crucial and cause major volatility but as far as the Euro is concerned, Sunday’s Greek referendum is what matters most. Brokers have already warned clients of an increase in margin requirement for this currency pair. What does this tell us? ….. Stay out of it!
Technical Recommendation: Stand aside.
EURUSD – Daily
► GBP/USD: price broke to the downside of last Wednesday’s mother candle and closed below the EMA layer. Yesterday we entered an STTS Stop Buy order, favouring an upside breakout. Trade did not trigger therefore we cancelled the order earlier today. Price should now test confluent support at 1.5540 which also coincides with the 50 sma and the 50% retracement of the most recent rally.
Technical Recommendation: Look for price to reach 1.5540 support area.
GBPUSD – Daily
► AUD/USD: our STTS Long has come under pressure again in pre-NFP volatility. We can only hope not to get stopped out and for price to rotate upwards once again tomorrow post NFP.
Technical Recommendation: We are Long. Position -83 pips under water.
AUDUSD – Daily
► USD/JPY: We are still STTS Short and today price bounced back towards the mid-Bollinger line (20 sma). Yesterday we moved the Stop to Break Even so worst that can happen is we don’t make any money on this one.
Technical Recommendation: Short. Position +52 pips in profit.
USDJPY – Daily
► USD/CAD: price rallied strongly once again. Looks like this pair is one of the biggest beneficiaries of the ‘flight to the US dollar’ we discussed as a possibility in the weekend video. We did not get involved as we expected 1.2534 resistance to halt this market but we were wrong. Price cut right through it today. There seems to be little resistance now up to 1.2785. We missed the recent move so we would only go Long on a retracement of it.
► GOLD: price cut through 1170 support today. Between here and the bottom of the megaphone is a good area to go Long if we see any sign of an upward rotation.Technical Recommendation: Still looking to go long.
XAUUSD – Daily
► WTI Crude: we are still STTS Long in Crude. The ‘tea-cup’ pattern we traded looks like having failed. Price retreated again today strongly and we are now quite close to getting stopped out!
Technical Recommendation: We are Long. Position -325 pips underwater.
WTI Crude – Daily
Technical Recommendation: Standing aside.
SP500 – Daily
► DAX30: very similar commentary to the S&P above. Stand aside ahead of NFP and long Greek weekend. Too much to lose if trading with Stops!
Technical Recommendation: Stand aside.
DAX30 – Daily
► US30Y: our STTS Long has come under immediate pressure today. We are almost half way to our Stop. We hope for an upward rotation tomorrow.
Technical Recommendation: We are Long. Position -180pips under water.
US30Y Sep Future – Daily
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