End of Day Technical Review – 23 April 2105

Posted On 23 Apr 2015
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End of Day Technical Analysis Report for:

EURUSD, GBPUSD, AUDUSD, USDJPY, USDCAD, NZDUSD

GOLD and SP500 



► EUR/USD: today this pair finally broke through the EMA layer and closed above the 20 ema. Price is now likely to test the 50 sma and 1.1030 resistance. We are not entering Long due to insufficient R:R and teh fact that we have 3 other positions shorting the greenback, but day traders should be looking to go Long.
Technical Recommendation: Look for a re-test of 1.1030.
                                                                 EURUSD – Daily

► GBP/USD: today’s pin bar closing above the 50 sma calls for likely strength tomorrow and a re-test of 1.5165 resistance. Day traders should be Long with that in mind but we stay out for the same reasons given in the Euro commentary above.
Technical Recommendation: Look for a re-test of 1.5165.
                                                                 GBPUSD – Daily

► AUD/USD: we’ve been Long expecting 0.7700 to act as strong support. Today price attempted to drop but failed and ends the day in a long tailed bullish candle which bodes well for our position.
Technical Recommendation: We are Long. Position 50 pips in profit.
                                                                 AUDUSD – Daily
                             Back to Top

► USD/JPY: our STTS Short was stopped out overnight and, of course, price later dropped to close below the 20 ema. One of the sad and annoying realities of trading. With this pair now back in the middle of the recent range, we will be standing aside for now.
Technical Recommendation: Stopped out. Re-asssing.
                                                                 USDJPY – Daily

► USD/CAD: today we saw this pair turn to the downside again so we added to our prior Short which was designed as a 3-entry trade, but only the first order had been filled. So today we went Short for full risk and placed the stop at 1.2400 for all positions. We canceled the 2 prior Limit Sell orders as we do not believe the market is now likely to retrace that high. Both setups can be seen here.
Technical Recommendation: We added to our Short today. Now exposed at 1 1/3 x Risk.
                                                                 USDCAD – Daily

► NZD/USD: today we went Long in the shorter time frames in the Kiwi as price tested 0.7580 support and looked like bouncing. We look for price to rotate to the upside next.
Technical Recommendation: We Long.
                                                                 NZDUSD – Daily

► GOLDGold today bounced a little closing back at the 20 ema. Our stance has not change. As long as price remains in this tight range either side of 1200 we will stand aside. Not clear enough direction!
Technical Recommendation: Stand aside.
                                                                XAUUSD – Daily

► SP500:  2100 key resistance was broken today and price now seems destined to re-test the all time high of 2117.25. We hope price will take out all the stops above that and turn to the downside.

Technical Recommendation: Looking to go Short on a failure at all time highs.
                                                                 SP500 – Daily

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