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End of Day – 20 May 2015
End of Day Technical Analysis Report for:
GOLD
and SP500
► EUR/USD: we have been looking for opportunities to go long after a retracement. As price has now entered key area 1.1030-1.1100 again and is inside the EMA layer once more, we hope to get a Buy signal here. This level could be old resistance acting as support (change of polarity) and the ideal place to get a Buy signal.
Technical Recommendation: Looking to go Long
EURUSD – Daily
► GBP/USD: as previously stated we strongly believe that this pair will test 1.5878, the 50 fib level of last year’s downtrend and we are looking for an upward rotation around 1.5540 which is where the market is now (prior resistance, now acting as support).
Recommendation: Look for price to rotate to the upside and reach1.5878.
GBPUSD – Daily
► AUD/USD: we have been looking for an upward rotation around the EMA layer. Price has entered the EMA layer but so far no signs of an upward rotation.
Technical Recommendation: Looking to go Long.
AUDUSD – Daily
► GOLD: our Long from Monday was stopped out as price re-entered the 1180-1220 range. Today price met with support at the EMA layer just above 1200. We still believe price is going to be higher soon so we will be looking for another Long opportunity.
Technical Recommendation: Looking to go Long again.
XAUUSD – Daily
► SP500: as per our most recent STTS video, we did not trust the break of all time highs. With the last 2 days ending as bearish pin bars, we believe price is about to correct to the downside. Longs should look to get out at this level and Shorts shoudl be considered.
Technical Recommendation: Looking to go Short.
SP500 – Daily
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