Previous Story
End of day review – 14 May 2015
End of Day Technical Analysis Report for:
EURUSD, GBPUSD, AUDUSD, USDJPY, USDCAD,
GOLD
SP500
and DAX
► EUR/USD: 1.1450 acted as resistance today as discussed yesterday. However it was not properly tested, so no need to panic yet if you’re long. Only react if we get a strong bearish signal at this level.
Technical Recommendation: Stay Long but cautious at this level.
EURUSD – Daily
► GBP/USD: 1.5785 acted as resistance today, but yesterday we said it is likely to be broken as we believe price will want to test 1.5878, the 50% Fib retracement level of the downtrend started in July last year. So stay Long until this is reached.
Technical Recommendation: If Long, look for price to reach 1.5878.
GBPUSD – Daily
► AUD/USD: today price retraced slightly and re-tested 0.8060 as support. We still believe price is likely to reach 0.8215 and the 200 sma above that, currently around 0.8328.
Technical Recommendation: Stay Long.
AUDUSD – Daily
USDJPY – Daily
► USD/CAD: today we got a small bullish candle off the lower bollinger band but a lower high/low combo was set. We remain Short as we see this bearish trend continuing. Our 1st Target is just above 1.1700.
Technical Recommendation: We are Short. Position ca 230 pips in profit.
USDCAD – Daily
► GOLD: today Gold attempted to break out of the recent 1180-1220 range but so far confluent resistance with the 200 sma has held. As this is a very significant level we will look to go Long if price does break and re-test the current level as support, even intraday.
Technical Recommendation: Looking to go Long if price breaks to the upside and retraces.
XAUUSD – Daily
► SP500: the Index today made a push towards all time highs again. We are not going Long of this market as we believe there is likely to be a major correction. Longs should consider exiting this market. We will wait and see if we get a convincing bearish signal at all time highs.
Technical Recommendation: Longs should look to exit or take partial profit. We are looking to go Short.
SP500 – Daily
► DAX: a strong close today which almost re-tested the Head and Shoulders neckline as resistance again. As long as price doesn’t close above the EMA layer and the neckline, we recommend to stay SHort with a 1st target of 10875 (the pattern’s mathematical target).
Technical Recommendation: Stay Short.
CHECK OUR INTERACTIVE ECONOMIC CALENDAR FOR UPCOMING WORLDWIDE DATA RELEASES
CHARTING LEGEND:
DISCLAIMERThe information contained in this publication is not intended as an offer or solicitation for the purchase or sale of any financial instrument. Users acknowledge and agree to the fact that, by its very nature, any investment in CFDs and similar and assimilated products is characterised by a certain degree of uncertainty and that, consequently, any investment of this nature involves risks for which the user is solely responsible and liable.Any recommendation, opinion or advice contained in such material reflects the views of TFF, and TFF expressly disclaims any responsibility for any decisions or for the suitability of any security or transaction based on it. Specifically, any decisions you may make to buy, sell or hold a security based on such research will be entirely your own and not in any way deemed to be endorsed or influenced by or attributed to TFF.Past performance should not be seen as an indication of future performance. Market and exchange rate movements may cause the value of your investment to rise or fall and an investor may not get back the amount invested.
Investors considering opening a self-trading account or investing in the TFF Capital Pool, should limit their exposure to maximum 10% of their investment capital.Eligibility for participation in the capital pool is subject to final determination and acceptance by TFF.Investments are not obligations of, deposits in, insured or guaranteed by TFF.
