End of Day – 15 June 2015

Posted On 15 Jun 2015
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End of Day Technical Analysis Report for:




and DAX

► EUR/USD: Friday’s pin bar at EMA layer support is followed today by further bullish confirmation which supports our view voiced in yesterday’s STTS Video that we believe this pair is more likely to break to the upside now, even though 1.1300 support is still holding out. Because of 1.1300 and 1.1450 resistance being so close to the current price action we choose not to trade this pair as we prefer other pairs as a Short play on the greenback. However, a Euro trader should be Long this pair in our opinion with a view for static resistance being broken on an upside break post FOMC later this week.
Technical Recommendation: We are Standing aside but advocate a Long stance at these levels.
                                                                 EURUSD – Daily

GBP/USD: today’s action is a further bullish sign for our STTS Long. Our target is off this chart. We have sufficient marging in this trade to feel hopeful that even the most extreme volatility on FOMC day this week will  not stop us out (unless the market goes totally against us of course).
Technical Recommendation: Long. Position +255 pips in profit.
                                                                 GBPUSD – Daily

► AUD/USD: as discussed in the weekly STTS video, earlier today we went STTS Long in this pair as an early entry into a potential Double Bottom pattern which is yet to trigger. Our first target is the Double Bottom mathematical target. We have a wide stop so hopefully FOMC volatility will not Stop us out.
Technical Recommendation: We are Long as an early entry into a possible Double Bottom pattern.
                                                                 AUDUSD – Daily
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► USD/JPY: a small range green candle today still contained within last Wednesday’s mother candle range. We feel 124.00 will confirm itself as resistance and price should rotate to the downside from here so we do recommend being Short. However, for similar reasons to the EURUSD, we will ourselves stand aside as we do not see a good enough R:R given what we would choose as our Stop level and 121.70 being the obvious first target.
Technical Recommendation: Downside breakout likely but we stand aside due to insufficient R:R.
                                                                 USDJPY – Daily

► USD/CAD: today we went STTS Short as prcie once again attempted a bounce but met with selling at the 8/20 emas. We were hoping for a bigger retracement to enter Short, so we have added a second Sell order higher up which we hope will get filled in FOMC volatility.
Technical Recommendation: We are Short on a partiall fill.
                                                                 USDCAD – Daily

GOLD: we are not happy with Gold right now. We went long STTS Long last Friday as we felt an upside breakout of the inside candle formation from last Wednesday was very likely. Our Stop was placed at 1167. Earlier today the market came under pressure and we felt our Stop was too close and very likely to be reached in pre FOMC volatility. So we decided to cut the position at 1174.2 for a loss of 0.5 x risk. Having also gone Long the Aussie probably affected our judgement on this one. Still … the wrong decision as Gold ends the day strongly off the lows. An upside breakout now looks even more likely looking for price to break through 1200 once again and re-test 1220-1225 area.
Technical Recommendation: Should be Long.
                                                                 XAUUSD – Daily

► SP500a gao down open today which is relatively rare these days. Again 2074 acts as strong support as price ends in a pin bar which normally would see us going Long BUT we do not like being Long this market right now. Any upside from here is likely to be short lived and should be seen as a selling opportunity. We are already Short the DAX so we are not aggressively looking to Short the S&P right now. But things can change quickly!
Technical Recommendation: Looking to go Short higher up.
                                                                SP500 – Daily

DAX: we are still partially STTS Short after 1st Target was hit last week and have moved the stop to break even on the remainder of the position. Last Thursday we also suggested that traders not already Short should have considered selling after Thursday’s’s pin bar at confluent resistance. We of course have been Short for some time from much higher up. Today’s gap-down opening with subesequent sell-off bodes very well for our remaining position.

Technical Recommendation: T1 hit for +785 points profit and 2.2 x Risk. Remaining 30% +645 points in profit.
                                                                 DAX – Daily



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