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End of Day – Technical Review: 09 September 2015
End of Day Technical Analysis Report for:
EURUSD, GBPUSD, AUDUSD, USDJPY,
, SP500, and US30Y
► EUR/USD: price still inside an inside bar formation at confluent support above the 50 sma and 1.1100. Today’s inside pin bar respected the 8/20 emas. This bodes well for a short term upside breakout tomorrow.
Technical Recommendation: Looking to go Long.
EURUSD – Daily
► GBP/USD: a tiny range red candle today as price stalls at confluent resistance of the 1.5350 level, the EMA layer and the 38.2 Fib level of the recent fall. No obvious signs of a downward rotation so far so we may well see a short term resumption to the upside.
Technical Recommendation: Price at key resistance. Looking at possible upside from here.
GBPUSD – Daily
► AUD/USD: Price posted today a tiny pin bar inside the EMA layer. Not a strong enough sell signal so we expect to see a test of 0.7100 and the 20 ema where we will be on the look-out for any shorting opportunities.
Technical Recommendation: Re-assessing.
AUDUSD – Daily
USDJPY – Daily
► GOLD: we were right yesterday to call for some short term weakness on the back of yesterday’s pin bar. Unfortunately we did not act on it. We had been looking for reasons to go Long and were hoping today’s initial weakness might meet with strong buying which did not materialize. Instead today’s red candle may well be followed by further weakness which should properly test the 1100$ level.Technical Recommendation: Re-assessing. XAUUSD – Daily
► SP500: lately we have been calling for a box range between 1900 and 2030 pre FOMC, on the wide. However after today’s sell-off 1990 resistance we can see 1990 as the most likely top of the range for the next few trading sessions. So as this week enters the last 2 sessions we will probably see a push to severely re-test 1900 as support.
Technical Recommendation: Look for a test of 1900 support.
SP500 – Daily
► US30Y: price today attempted to break 153.85 support at the 200 sma but met with heavy buying ending the day in a long tailed pin bar and a close above 153.85 again. This is the buying signal we had been waiting for (and we hoped we would get for Gold). Tomorrow morning at the open we will be looking to set up a Long trade.
Technical Recommendation: Looking to go Long.
US30Y Dec Future – Daily
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