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End of Day – 09 April 2015
End of Day Technical Analysis Report for:
EURUSD, GBPUSD, AUDUSD, USDJPY, GOLD , SP500
and USDCAD
► EUR/USD: in yesterday’s report we discussed the downside break of the ascending triangular consolidation pattern and said we were looking to go Short. Indeed we went STTS Short after yesterday’s close and today price proved us right, heading towards our 1st target.
Technical Recommendation: We are Short. Position 120 pips in profit.
EURUSD – Daily
► GBP/USD: this pair also staged a downside breakout, as predicted in yesterday’s daily report. We did not take a position, as we did say we preferred to play a Euro short for better R:R.
Technical Recommendation: Look for 1.4634 support to be tested.
GBPUSD – Daily
► AUD/USD: today the Aussie dance continued. Another higher high/low combination BUT yet again price failed to close above the 20 ema and last week’s mother candle high, so we cannot rule out this strength reversing imminently.
Technical Recommendation: Re-assessing.
AUDUSD – Daily
► USD/JPY: the upside breakout of 120.45 happened but we did not go Long as discussed yesterday, for 2 reasons: we are already Long USD with our positions in EURUSD and USDCAD and the R:R in this pair is not as attractive. In any case short term traders who trade this pair should be Long and looking for a re-test of 121.70.
Technical Recommendation: We are flat but short term traders should be Long.
USDJPY – Daily
► GOLD: a third down day in a row, as 1200 support failed. We were looking to go Long on an upward rotation but it has not materialized. If the 20 ema also fails as support we may see further downside so we will stand aside for now.
Technical Recommendation: Stand aside.
XAUUSD – Daily
► SP500: today price broke through recent resistance and finally started to move towards our targets.
Technical Recommendation: We are Long. Position 385 pips in profit.
SP500 – Daily
► USD/CAD: yesterday, after the close, we went STTS Long in this pair using a 2 entry strategy. The second entry was missed by a whisker, so we are Long in 1/2 Risk, looking for the top of the recent consolidation to be reached
Technical Recommendation: We are Long. Position 40 pips in profit.
USDCAD – Daily
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