End of Day Review : 17 June 2015

Posted On 17 Jun 2015
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End of Day Technical Analysis Report for:

EURUSD, GBPUSD, AUDUSD, USDJPY, USDCAD,

GOLD

SP500

and DAX



► EUR/USD: unsurprisingly this pair was the least reactive to today’s FOMC announcement and press conference, with Greek woes still lurking. We have been bearish dollar and taken other positions but stayed out of this pair due to 1.1450 resistance being so close to the recent price action. Still … an upside breakout is likely.
Technical Recommendation: We are Standing aside but advocate a Long stance at these levels.
                                                                 EURUSD – Daily

GBP/USD: huge strength today. Our STTS Long is now very close to our 1st target. If hit tomorrow we will start trailing the stop on remaining 30%.
Technical Recommendation: Long. Position +480 pips in profit.
                                                                 GBPUSD – Daily

► AUD/USD: we went STTS Long in this pair on Monday as an early entry into a potential Double Bottom pattern which is yet to trigger. Our first target is the Double Bottom mathematical target. Early weakness today was met with strong buying post FOMC with today’s candle ending up as a bullish pin. This bodes well for our position going forward.
Technical Recommendation: We are Long. Position +20 pips in profit.
                                                                 AUDUSD – Daily
                             Back to Top

► USD/JPY: a larger inside pin bar today still contained within last Wednesday’s mother candle range. With this candle’s wick re-testing 124.00 resistance and failing, the chance of a downside breakout is even higher now. We will look at a possible short overnight if we can find a good enough R:R but we may not get involved as we have other positions short dollar. We do however recommend a Short stance here.
Technical Recommendation: Downside breakout likely. Should be Short.
                                                                 USDJPY – Daily

► USD/CAD: we are STTS Short and today we increased our position to 1.5 x Risk with a new STTS Short, cancelling the second limit sell on previous signal and going Short again post FOMC with a tighter stop. We like the R:R potential in this pair.
Technical Recommendation: We are Short for 1.5 x Risk. Position +48 pips in profit.
                                                                 USDCAD – Daily

GOLD: no change to our commentary from yesterday. Price remains within the inside candle formation from last Wednesday. An upside breakout is still very likely looking for price to break through 1200 once again and re-test 1220-1225 area.
Technical Recommendation: Look for an upside breakout.
                                                                 XAUUSD – Daily

► SP500a post FOMC doji today. 2100 acting as resistance. Market in middle of recent range and undecided. We stand aside with a view to go Short higher up.
Technical Recommendation: Looking to go Short higher up.
                                                                SP500 – Daily

DAX30: today as price re-tested the 38.2 Fib retracement level (and Head & Shoulders mathematical target) we decided to exit the remainder of our STTS Short . After yesterday’s pin bar at this very same level we cannot rule out a bounce so best to take the money and re-assess.

Technical Recommendation: Closed out for +785/+745 points. 2.17 x Risk overall profit.
                                                                 DAX30 – Daily
                                                                DAX30Weekly

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CHARTING LEGEND:


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