End of Day – 27 May 2015

Posted On 27 May 2015
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End of Day Technical Analysis Report for:

EURUSD, GBPUSD, AUDUSD, USDJPY, USDCADGOLD, SP500 and DAX

 

► EUR/USD: the Euro today retraced a little which is no surprise after the recent drop. We may see more retracement tomorrow but it does look like the market has formed the second wave of a down move so we should be looking for sell signals at dynamic resistance to try and catch the 3rd wave down to the 1.0500 level.
Technical Recommendation: Look to Short at dynamic resistance.
                                                                 EURUSD – Daily

GBP/USD: price today met with support at the 38.2 Fib level of th recent rally. This level or the 50 fib below, where the rising 50 sma is, could be areas in which to buy if we get a buy signal.
Technical Recommendation: Looking to go Long on a rotation, either here or further down at the 50 Fib level.
                                                                 GBPUSD – Daily

► AUD/USD: the Aussie paused today at 0.7700 support. This level has shown huge significance in the past so this is no surprise. We may see a small pull back to the EMA layer where we may get a sell signal, but for now we have to wait.
Technical Recommendation: Stand aside.
                                                                 AUDUSD – Daily
                             Back to Top

► USD/JPY: yesterday we said the next likely target was resistance at 124.00 dating back to 2007. Today price reached this level and stopped. All we can do now is watch how price reacts to it.
Technical Recommendation: 124.00 reached. Stand aside.
                                                                 USDJPY – Daily

► USD/CAD: a spinning top doji at the top of key resistance band 1.2380-1.2448. Will price rotate downwards from here? No surprises from the BOC today. We can’t call a Short here yet. We’ll need to get a bearish confirmation first.
Technical Recommendation: Look for a downward rotation at these levels.
                                                                 USDCAD – Daily

GOLD: after yesterday’s collapse today price took a breather. Still inside the range of last few weeks.
Technical Recommendation: Stand aside.
                                                                 XAUUSD – Daily

► SP500today we got a retracement of yesterday’s bear candle. Price may try to re-test recent highs. We are keeping our eyes open for a compelling sell signal.
Technical Recommendation: Looking to go Short.
                                                                SP500 – Daily

DAX:  after yesterday’s commentary we went STTS Short as price rotated at the 50 sma. Price today bounced a little so we are currently underwater. We hope to see a downward resumption tomorrow.

Technical Recommendation: We are Short.
                                                                 DAX – Daily

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