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End of Day Technical Review – 29 April 2015
End of Day Technical Analysis Report for:
EURUSD, GBPUSD, AUDUSD, USDJPY, USDCAD, NZDUSD
► EUR/USD: for a few days we have been recommending being Long as we thought price was likely to test 1.1030 resistance. Yesterday we suggested taking some money off the table at this level. Today indeed the market reached it and blew past it. So if you’ve booked some profits, well done. You should remain partially Long. As stated we have not been in this pair due to other positions but we will now be looking for a retracement to go Long.
Technical Recommendation: Should still be partially Long. If flat look to buy on a retracement.
EURUSD – Daily
► GBP/USD: price continues to be very strong. Longs should stay Long but 1.5540 resistance is looming so start thinking of taking some profits. As stated yesterday, a trailing stop is a good idea.
Technical Recommendation: Stay Long. Look at taking some proftit around 1.5540.
GBPUSD – Daily
► AUD/USD: after taking our profits yesterday, today’s doji at 0.8060 resistance justifies our stance of looking for a retracement from this level.
Technical Recommendation: Profit Taken. Looking to re-enter Long on a retracement.
AUDUSD – Daily
USDJPY – Daily
► USD/CAD: today ends in a long tailed doji which may mean a retracement tomorrow. However a new lower high/low combo was made so we happily remain Short. Our 1st Target is just above 1.1700.
Technical Recommendation: We are Short. Position ca 195 pips in profit.
USDCAD – Daily
► NZD/USD: our Long has met with tough resistance once again today at 0.7700 which we had hoped would be broken today. Instead price appears to have stalled here once again. We remain Long, however.
Technical Recommendation: We are Long. Position ca 90 pips in profit.
NZDUSD – Daily
► GOLD: Gold today retraced yesterday’s long green candle which was to be expected. Price still above 1200. While we really would like to see price break out of the range 1180-1220, it is becoming increasingly tempting to go Long!
Technical Recommendation: Stand aside with an eye on going Long!
XAUUSD – Daily
► SP500: this index continues to give out conflicting signals. Such choppiness at all time highs does indicate a probable major downward correction is imminent BUT but for now we prefer to stand aside.
Technical Recommendation: Re-assessing.
SP500 – Daily
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