End of Day – 01 April 2015

Posted On 01 Apr 2015
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End of Day Technical Analysis Report for:

EURUSD, GBPUSD, AUDUSD, USDJPY, GOLD, SP500 and NZDUSD



► EUR/USD: no pull back today, but an inside bar set-up which could signal further downside if yesterday’s mother candle low is broken (1.0712). Price does seem to want to re-test 1.0500 support, but to be honest, with the Easter Weekend around the corner, and other positions on board, we  may wait for the market to re-open next week.
Technical Recommendation: Looking to go Short but not ahead of the Easter Weekend.
                                                                 EURUSD – Daily

► GBP/USD: Cable ends today in another doji! Manufacturing PMI slightly below expectation did nothing for the market.  Tomorrow we have Construction PMI but in reality, we think Cable is not worth getting involved in until a clearer picture emerges on the elections (if indeed it will be clear at all!).
Technical Recommendation: Stand aside.
                                                                 GBPUSD – Daily

► AUD/USD: we’ve been waiting to see how price reacted to Key Support 0.7560-0.7625. Today we decided not to wait any longer and entered STTS Long with a 2 entry strategy, the second entry at the lower Bollinger band. We expect price to rotate to the upside in this area.
Technical Recommendation: Entered Long.
                                                                 AUDUSD – Daily
                             Back to Top

► USD/JPY: today this pair retraced to the 50 sma and met with renewed buying. Yesterday we did say we may see a retracement where a Long should be considered. If it weren’t for the Easter Weekend looming we would look to go Long here. Let’s wait until next week!
Technical Recommendation: Look to go Long.
                                                                 USDJPY – Daily

► GOLDprice took a sudden jolt to the upside today, closing above 1200$ again. As long as price remains below the 50 sma we will not consider going Long.
Technical Recommendation: Stand aside .
                                                                XAUUSD – Daily

► SP500: yesterday we said we would look for a rotation to the upside to go Long. Today, as we saw the index again strongly reject prices at the recent lows and the lower Bollinger band, we decided to go STTS Long with a 2 entry strategy. Both were filled and the day ended in a bullish pin bar. We are comfortable with this position.

Technical Recommendation: Entered Long.
                                                                 SP500 – Daily

► NZDUSD: our STTS Short in the Kiwi hit target today just above the 50 Fib level. Profit of +185 pips and 2.8 x Risk. Yesterday we said that as price tested the 50 Fib, an upward rotation was likely. Today’s pin bar and close above the 50 fib level 0.7442 would corroborate such a statement. Worth looking at a Long here, but we may not go for it as we already bought the Aussie and we are heading into the Easter long weekend!
Technical Recommendation: Target hit for +185 pips profit. Should now consider going Long.
                                                                NZDUSD – Daily

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