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End of Day – 23 June 2015
End of Day Technical Analysis Report for:
EURUSD, GBPUSD, AUDUSD, USDJPY, USDCAD
, WTI Crude, SP500 and DAX
► EUR/USD: the rising wedge at key resistance we mapped out yesterday was triggered today. This pattern is a potential reversal pattern. We can’t enter Short after such a strong bearish close as strong confluent support is just below at the 50 sma and the wedge’s target line, together with the 1.1100 significant level. Price should reach this level overnight or tomorrow and how price reacts to this key support will be crucial.
Technical Recommendation: We are Standing aside as price is now near key support.
EURUSD – Daily
► GBP/USD: price backed off more today as discussed in yesterday’s commentary. We are re-assessing with a view to buy back in lower down. We hope to see a buy signal at the ema layer in the next couple of sessions.
Technical Recommendation: Re-assessing.
GBPUSD – Daily
► AUD/USD: our STTS Long looked like coming under pressure today but we end the day with a close well off the lows and what could be a bullish fakey.We remain Long with as first target the Double Bottom mathematical target.
Technical Recommendation: We are Long. Position just above Break Even.
AUDUSD – Daily
USDJPY – Daily
► USD/CAD: miraculously we are still STTS Short having missed getting stopped out by a spread. Maybe Crude Oil came to the rescue! This may be the bit of luck we needed to see price now rotate to the downside and start moving our way!
► GOLD: today price reached 1178 support. Price may rotate upwards from here but we remain non commital in this very choppy and confusing market.
Technical Recommendation: Stand aside.
XAUUSD – Daily
► WTI Crude: earlier today we went STTS Long in Crude as we felt price was about to break-out of a possible ‘tea-cup’ bullish pattern so we tried to catch it early, together with our STTS Subscribers. At today’s close the pattern has not yet triggered but the signs look positive.
Technical Recommendation: We are Long. Position +77 pips in profit.
WTI Crude – Daily (at time of trade)
WTI Crude – Daily (at the close)
Technical Recommendation: Looking to go Short higher up.
SP500 – Daily
► DAX30: Price today gapped up at the open and met with 50 sma resistance once more. We stand aside but hope to get a Sell signal at dynamic resistance in the next few sessions.
Technical Recommendation: Re-assessing.
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