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End of Day Technical Review – 22 June 2015
End of Day Technical Analysis Report for:
EURUSD, GBPUSD, AUDUSD, USDJPY, USDCAD,
GOLD
SP500
and DAX
► EUR/USD: price still fails to test 1.1450 resistance. Momentum is waning as price looking to stay within a rising wedge at key resistance. This pattern may become more and more significant as a potential reversal pattern in days to come.
Technical Recommendation: We are Standing aside as price is at key resistance.
EURUSD – Daily
► GBP/USD: after bagging 2.8 x Risk profits in our recent STTS Long price is now looking like backing off after having reached the 50% Fib retracement of the downtrend which started in summer of last year. We are re-assessing with a view to buy back in lower down.
Technical Recommendation: Re-assessing.
GBPUSD – Daily
► AUD/USD: we went STTS Long in this pair last week as an early entry into a potential Double Bottom pattern which triggered on Thursday. Price today backed off to our in-cost but is still inside Thursday’s mother candle. We remain Long with as first target the Double Bottom mathematical target.
Technical Recommendation: We are Long. Position at Break Even.
AUDUSD – Daily
USDJPY – Daily
► USD/CAD: we are still STTS Short for 1 x Risk, having reduced our exposure by exiting our partial prior Short position earlier today at break even. We hope price will rotate to the downside againg tomorrow without stopping us out.
► GOLD: today price failed to stay above 1200 and broke down once more. 1178 support fast approaching. We stand aside as price action is very choppy and confusing.
Technical Recommendation: Stand aside.
XAUUSD – Daily
► SP500: after an attempt to break above 2120, price retreated and closed well off the highs. Not a strong enough signal to go Short but a confirmation of hefty supply in this price area. We stand aside with a view to go Short higher up.
Technical Recommendation: Looking to go Short higher up.
SP500 – Daily
► DAX30: great decision last week to bag full profit in our STTS Short. Price today surged above the 20 ema and is now approaching the 50 sma once more. We stand aside but hope to get a Sell signal at dynamic resistance in the next few sessions.
Technical Recommendation: Re-assessing.
DAX30 – Daily
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