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End of Day – 25 March 2015
End of Day Technical Analysis Report for:
EURUSD, GBPUSD, AUDUSD, USDJPY, GOLD, SP500 and NZDUSD
► EUR/USD: an inside candle within last Wednesday’s mother candle so we’re still waiting for some clearer price action signal at the 1.1040-1.1100 band of resistance.
Technical Recommendation: Waiting for a signal at key resistance.
EURUSD – Daily
► GBP/USD: Price still trading within last Wednesday’s massive outside candle and today’s candle is an inside pin bar. Yesterday we said we would welcome a fake downside breakout and a signal to go Long, but after today we believe a downside breakout below 1.4830 will most likely cause further downside.
Technical Recommendation: Look for a break of 1.4830 to cause further downside.
GBPUSD – Daily
► AUD/USD: yesterday’s doji inside 0.7850-0.7900 key resistance was followed today by bearish confirmation. This is likely to cause a drop down to re-test the EMA layer. As discussed yesterday though, with the 8 ema crossing the 20 ema to the upside for the first time since September, if price does retreat from here, we may well get a signal to go Long at the EMA layer.
Technical Recommendation: Look for price to retrace to the EMA layer.
AUDUSD – Daily
► USD/JPY: today price respected the 50 sma one more time and we decided to take profit in our STTS Short. Bought back at 119.52 for 171 pips profit (1.7 x Risk) as we believe price could bounce from here. We will look to Short again higher up.
Technical Recommendation: Took 171 pips profit. Re-assessing.
USDJPY – Daily
► GOLD: today price posted a spinning top doji at the key area of resistance between 1190 and the 38.2 Fib level at 1205, almost touching 1200 . A retracement of the recent bounce is likely from here.
Technical Recommendation: Look for price to rotate and retrace recent bounce.
XAUUSD – Daily
► SP500: today the S&P proved us very wrong and collapsed through the 50 sma. Let’s see if 2040 support holds.
Technical Recommendation: Stand aside and wait for price reaction to 2040.
SP500 – Daily
► NZDUSD: earlier today we went STTS Short in the Kiwi price as price showed bearish signs in the 1 hr time frame. At the NY close, yesterday’s doji’s low had been broken and the day ends with a bearish confirmation of yesterday’s doji, so we feel very comfortable with our Short. We expect this to be a retracement back to the EMA layer and possibly the 50 sma. If we get there we are likely to cover our Short and look to go Long.
Technical Recommendation: We are Short. Position 30 pips in profit.
NZDUSD – Daily
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