End of day Technical Review

Posted On 18 May 2015
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► EUR/USD: as discussed in this weekend’s STTS Video 1.1450 acted as resistance but there’s a level higher up which we believe strongly will be met, so we will look for new chances to go Long.

Technical Recommendation: Looking to go Long

 

► GBP/USD: 1.5785 acted as resistance today, but the 50 fib level 1.5878 has not yet been claimed so we’ll be looking for an upward rotation around 1.5540

Recommendation: Look for price to rotate to the upside and reach 1.5878.

 

► AUD/USD: price retraced today. We will look for an upward rotation around the EMA layer.

Technical Recommendation: Looking to go Long.

 

► USD/CAD: today we exited the long running position in USDCAD Short for a tiny profit as we saw price closing above the 20 ema. We will go in Stand-by mode until further notice.

Technical Recommendation: Covered Short for tiny gain – Re-assessing!

 

► GOLD: today Gold attempted to properly break out of the recent 1180-1220 range and we were filled in our Long Stop-Buy order. Price closes back around 1225, well off the highs, so we are now Long and slightly under-water.

 

► SP500:  the Index today made all-time highs again. As discussed in the weekly STTS video, we do not believe this will be a sustained move so we will not be going Long.

Technical Recommendation: Stand aside.

CHARTING LEGEND:

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