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End of Day Summary : 27 April 2015
End of Day Technical Analysis Report for:
EURUSD, GBPUSD, AUDUSD, USDJPY, USDCAD, NZDUSD
► EUR/USD: as we said last Thursday, price was likely to test the 50 sma and 1.1030 resistance. The former happened today and the latter is likely to happen this week. We did not enter Long due to the fact that we have 3 other positions shorting the greenback, but we did recommend traders to go Long.
Technical Recommendation: Should be Long. Look for a re-test of 1.1030.
EURUSD – Daily
► GBP/USD: last week we called for a re-test of 1.5165 resistance and recommended to be Long. 1.5165 was indeed reached and hardly put up a fight. Price very strong. Longs should stay Long and anyone else should be looking to buy any retracement.
Technical Recommendation: Should be Long.
GBPUSD – Daily
Technical Recommendation: We are Long. Position 125 pips in profit.
AUDUSD – Daily
► USD/JPY: our STTS Short was stopped out last week by a few pips and now this pair looks like heading south again, which is what we had predicted all along. Shame ..this happens in trading. As we have other trades on and with strong support just below, we prefer to stand aside in this pair for the time being.
Technical Recommendation: Stand aside.
USDJPY – Daily
► USD/CAD: today this pair turned to the downside again with momentum. We are Short in 1 1/3 x Risk and we feel very comfortable with this position. Our 1st Target is just above 1.1700.
Technical Recommendation: We are Short. Position ca 120 pips in profit.
USDCAD – Daily
► NZD/USD: as we had envisaged (hoped!), price today did rotate upwards of 0.7580 support and as a result our Long is now looking in good shape. Tough resistance to conquer around 0.7700 but if it fails, our 1st target is well above 0.7800.
Technical Recommendation: We are Long. Position ca 50 pips in profit.
NZDUSD – Daily
► GOLD: Gold today bounced strongly and once again closed above 1200. As stated before, we really would like to see price break out of the range 1180-1220, so while it stays inside it we are unlikely to get involved. Today’s action, however does make it tempting to go Long!
Technical Recommendation: Stand aside with an eye on going Long!
XAUUSD – Daily
► SP500: last week we said the index seemed destined to re-test the all time high of 2117.25 and we said we’d be looking to go Short if price failed at this level. Today it happened so we will start considering going Short but we would have preferred a clearer rejection of these levels (eg a long wicked pin bar!)
Technical Recommendation: STarting to consider going Short..
SP500 – Daily
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