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End of Day – 23 March 2015
End of Day Technical Analysis Report for:
EURUSD, GBPUSD, AUDUSD, USDJPY, GOLD, SP500
► EUR/USD: the euro today closed above the 20 ema which is a bullish sign. It is still however trading within last Wednesday’s mother candle so, having missed out on buying last week due to not being in the market, we are unlikely to go Long until 1.1040-1.1100 band of resistance is cleared.
Technical Recommendation: Waiting for a signal at key resistance.
EURUSD – Daily
► GBP/USD: Sterling today closed within the EMA layer and still inside last Wednesday’s massive outside candle. Price is now inside key resistance so we will watch this space. Today’s pin bar does point at short term upside next couple of sessions.
Technical Recommendation: Stand aside with a view to going Long.
GBPUSD – Daily
► AUD/USD: the Aussie closed above the 50 sma and is now inside 0.7850-0.7900 key resistance. Similarly to the Euro, we will wait to see if this area is cleared.
Technical Recommendation: Waiting for a signal at key resistance.
AUDUSD – Daily
► USD/JPY: today saw a lower high and a lower low. Price is still inside Wednesday’s mother candle and a break below its low could signal further downside. We are STTS Short and 170 pips in profit. Our initial targets are 118.30 and 116.90 but we may run a trailing stop on this trade as we see considerable downside to come.
Technical Recommendation: We are Short and 170 pips in profit.
USDJPY – Daily
► GOLD: today price cleared the 20 ema and is now entering a key area of resistance between 1190 and the 38.2 Fib level at 1205, with of course 1200 right in the middle of it. This will be a fiercely contested area where bears will attempt to take control again.
Technical Recommendation: Waiting for a signal at key resistance.
XAUUSD – Daily
► SP500: the S&P is hovering around 2107 minor resistance. As discussed in yesterday’s Weekly Bonus Video, while we believe a major correction is due, this may not happen just yet as recent price action does support a likely retest of recent all time highs.
Technical Recommendation: Looking for a test of 2117.25.
SP500 – Daily
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