End of Day Technical Analysis – 28 Sept 2015

Posted On 28 Sep 2015
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End of Day Technical Analysis Report for:


GOLD, SP500, and US30Y

► EUR/USD: we did say in last week’s video that price was likely to re-test 1.1100 and that’s what happened. Price then met again with static and dynamic support at the slightly rising 50 sma. Given the current oversold status we may wee an upward push this week but whether it will re-test 1.1435 remains to be seen. This pair is still trading at the same level of circa 6 months ago and has been chopping around inside a wide range of 1.0820 and 1.1625, so while we are short term bullish we see the upside potential as limited.
Technical Recommendation: Look for a short term bounce. Possible target 1.1435 resistance.
                                                                 EURUSD – Daily

GBP/USD: last week we saw a pretty strong sell off which is of course bearish but the sell-off stopped at the critical support of 1.5165. This level is crucial to the medium term direction of this market. We are now right at the bottom of the wide recent range (1.5150-1.5900). An inside bar is forming today. An upside breakout this week could see the market re-testing 1.55 resistance, while a downside breakout could result in a much bigger move down to potentially 1.4650 support..
Technical Recommendation: standing aside watching what price action does at this key support level.
                                                                 GBPUSD – Daily

► AUD/USD: in last week’s STTS video analysis we suggested shorting on a retracement of the previous week’s 2 pin bars at confluent resistance of 0.7230 and the 50 sma. A 240 pips drop ensued. Now, with the market approaching oversold, you should be flat and looking for a fake downside breakout of the current inside candle setup, taking out all the stops below the recent swing low and  hoping for a reversal and a double bottom forming at the present levels.
Technical Recommendation: Looking to go Long on a fake downside breakout.
                                                                 AUDUSD – Daily
                           Back to Top

► USD/JPY: in last week’s video we suggested that as price was being supported around 120 we were likely to see an upside breakout of the triangular consolidation. The market did attempt it but failed and resulted in a fake breakout. With today’s bearish continuation candle, if the 119.80-120.00 level does not hold, we see a possible downside collapse through the bottom of this triangle, with a likely test of 118.28 support but possibly a much greater downward move to recent lows around 116.10.
Technical Recommendation: Look for a downside breakout of the triangular consolidation pattern.
                                                                USDJPY – Daily

GOLD: please watch today’s Weekly Bonus Video for our view on Gold.

Technical Recommendation: Looking to go Long at the 50sma.

                                                               XAUUSD – Daily

► SP500: in our Weekly Bonus Video we discussed looking to go Long if 1900 support held. Today price collapsed through it and is now set to re-test 1830-1860 area of support. We will look for a bounce there.
Technical Recommendation: Look for a test of 1830-1860 support.
                                                               SP500 – Daily

► US30Y: price has rotated to the upside in the last couple of weeks as we have been predicting … in last week’s video we suggested to go Long on a retracement of the previous Friday’s candle in the region of 154.00 and our readers have enjoyed the predicted push to the 50 Fib level around 157.50 which was reached today. We could next see a major push to the upside to possibly re-test the 162.00-162.50 area..
Technical Recommendation: Possible upside breakout.
                                                        US30Y Dec Future – Daily




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