End of day Technical Summary : 16 April 2015

Posted On 16 Apr 2015

By : TFF

End of Day Technical Analysis Report for:

EURUSD, GBPUSD, AUDUSD, USDJPY, GOLD and SP500

► EUR/USD: today price showed further strength and reached the 20 ema. We had sensed this so, as mentioned last night, we moved our Stop to 1.0722, just above the previous mother candle high, to guarantee us 60 pips profit. We were duly stopped out, and now we will see how price behaves at the 20 ema.

Technical Recommendation: 60 pips profit taken. Stand aside.

EURUSD – Daily

► GBP/USD: a strong show today and price right back at 1.4970 resistance. This is now a key level, with the 50 sma just above. This area will need to be mustered for this pair to stage a major rally.

Technical Recommendation: Stand aside.

GBPUSD – Daily

► AUD/USD: a very strong day culminating in a strong close above the 50 sma. We have to now change our stance to looking to go Long.

Technical Recommendation: Looking to go Long.

AUDUSD – Daily

► USD/JPY: today we got a close below the trendline so further downside is to be expected. As today is also an inside candle, a break below the mother candle low should be a signal to go Short, expecting 118.28 support to fail.

Technical Recommendation: Looking to go Short.

USDJPY – Daily

► GOLD: Gold continues continues its dance around 1200. Still looking at a potential short term Long with good R:R to the top of the channel.

Technical Recommendation: Looking to trade inside the rising channel.

XAUUSD – Daily

► SP500: today the index tried to break down but failed and we ended the day with an inside pin bar again closing at 2100, where we took profit on 70% of our recent Long trade. Further upside is now very likely. We are trailing the stop on the remainder.

Technical Recommendation: Taken 565 pips in partial profit. Trailing remaining position.

SP500 – Daily

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