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End of Day Technical Summary – 14 April 2015
End of Day Technical Analysis Report for:
EURUSD, GBPUSD, AUDUSD, USDJPY, GOLD , SP500
and USDCAD
► EUR/USD: as discussed in yesterday’s report we expected a retracement today and we got one. We are still looking for recent low to be re-tested so we remain Short.
Technical Recommendation: We are Short. Position 120 pips in profit.
EURUSD – Daily
► GBP/USD: a strong bounce today off support but this does not change the fact that this pair is in a bear trend. Price today reached the EMA layer where, as stated yesterday, we hope to get a Sell signal.
Technical Recommendation: Look for a Sell signal at the EMA layer.
GBPUSD – Daily
► AUD/USD: today the Aussie bounced off 0.7570 support and price returns inside the recent range. Today’s action is not enough to warrant a Long stance. We would rather get a sell signal inside the EMA layer.
Technical Recommendation: Stand aside.
AUDUSD – Daily
► USD/JPY: no bullish price signals in the lower time frames today … in fact the opposite, but we can;t go Short as price still inside lower trendline. It does seem like this consolidation is about to end though as the range is getting tighter and tighter. We have to sit and watch for now.
Technical Recommendation: Stand aside.
USDJPY – Daily
► GOLD: today price broke down through the EMA layer and more importantly 1200 support. Looks like further downside to come.
Technical Recommendation: Looking to go Short.
XAUUSD – Daily
► SP500: today price looked like collapsing but recovered strongly to form a pin bar at dynamic support which bodes well for the rest of our Long position. Having taken 70% off the table at 2100 yesterday, we today raised our trailing Stop to under today’s low.
Technical Recommendation: Taken 565 pips in partial profit. Trailing remaining position.
SP500 – Daily
► USD/CAD: our STTS Long for 1/2 Risk is under pressure after today’s drop, as discussed in yesterday’s report. Let’s hope price rotates upwards tomorrow but it seems unlikely.
Technical Recommendation: We are Long. Position under pressure.
USDCAD – Daily
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