End of Day – 04 March 2015


End of Day Report for:

EURUSD, GBPUSD, AUDUSD, USDJPY, GOLD

and Special Situation: WTI Crude

( Technical Analysis – STTS )

 

This end of day report is compiled from our trade setups. 

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► EUR/USD: the Euro has breached 1.1100 and in doing so has reached levels not seen since 2003. We have been sitting out lately and are not likely to get involved today ahead of tomorrow’s ECB conference and interest rate announcement, not to mention the US Employment data tomorrow and Friday. Not the time to be chasing the market. We will wait to see the reaction to these levels and the upcoming data.
Technical Recommendation: Stand aside.
                                                         EURUSD – Daily

GBP/USD: as we have been saying lately, we would look to go Long in this pair provided it stays above the 50 sma and 1.5265. Today’s fall stopped EXACTLY at this level which is Key Confluent support. As tomorrow we’ll also be faced with monetary policy data out of the UK, we will wait and see how price reacts to this extremely important price level.
Technical Recommendation: Looking for price reaction at Key Support.
                                                         GBPUSD – Daily

► AUD/USD: today started strong but in the end 0.7850 again acted as resistance and price closed back around the 8/20 emas. We remain Long hoping for an upside breakout imminently.
Technical Recommendation: We are Long. Position 30 pips under water.
                                                        AUDUSD – Daily
                             Back to Top

► USD/JPY: today’s small inside doji gave us nothing new. We should still see further upside in days to come to test 120.45-120.65 resistance. We will look to go Long.
Technical Recommendation: Looking to go Long.
                                                         USDJPY – Daily

► GOLD: today price remained below the EMA layer and was supported at 1200$ significant level. We are Long as we believe price will start to make a series of higher lows from here and our main motivation was the upside breakout of the falling wedge best seen in the 4hr chart below. Hopefully 1200 support will hold out and cause an upward rotation and the volatility we are likely to see in he next couple of sessions won’t stop us out!
Technical Recommendation: We are Long. Position ca 13$ in the red.
                                                         XAUUSD – Daily
                                                       XAUUSD – 4 hr

WTI Crude: a 4th positive session in Crude which has broken out of the most recent resistance and closed well above the 50 sma.  Price closed at ca 2.75 $ above the mean of our 2 entry points.
Technical Recommendation: We are Long in 2.3 x Risk.
                                                        WTI Crude – Daily

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