Previous Story
Technical Review : 18 June 2015
End of Day Technical Analysis Report for:
EURUSD, GBPUSD, AUDUSD, USDJPY, USDCAD,
GOLD
and DAX
► EUR/USD: today this pair attempted to test 1.1450 resistance but failed to reach it and ended in a pin bar. We still feel an upside breakout is likely but with Greek woes continuing, momentum is waning.
Technical Recommendation: We are Standing aside as price is at key resistance.
EURUSD – Daily
► GBP/USD: Our STTS Long hit 1st target today where we were taken out of 70% of the position and we later exited the rest at the same level, which is where the market closed. Main reason being price has now reached the 50% Fib retracement of the downtrend which started in summer of last year so a pause here is very likely. As 2nd target looked unlikely to be hit intraday, we opted for bagging full profit of 2.8 x Risk and +538 pips.
Technical Recommendation: Exited full position at T1 for +538 pips profit (2.8 x Risk).
GBPUSD – Daily
GBPUSD – Weekly► AUD/USD: we went STTS Long in this pair on Monday as an early entry into a potential Double Bottom pattern which finally triggered today. A pause is customary as the DB peak is breached. We expect price to continue to the upside in the next few sessions and are very comfortable with this position. Our first target is the Double Bottom mathematical target.
Technical Recommendation: We are Long. Position +68 pips in profit.
AUDUSD – Daily
► USD/JPY: yesterday’s inside pin bar acted as bearish confirmation though price is still contained within last Wednesday’s mother candle range. The close well off the lows meant the mother candle low was not broken so we may be stuck in sideways mode for the short term. We have not acted on this pair as we have been already very committed to a greenback short stance through other trades and see insufficient R:R in going Short here.
Technical Recommendation: We are standing aside.
USDJPY – Daily
► USD/CAD: we are STTS Short and STTS Short for 1/5 x Risk. Today price looked like running away towards our target but in the end came back to yesterday’s close forming a long tailed pin bar in the process. We remain Short believing price has rotated down and further downside is to come. We hope we’re right!
Technical Recommendation: We are Short at average price 1.2278 for 1.5 x Risk. Position +57 pips in profit.
USDCAD – Daily
► GOLD: we have been saying an upside breakout was very likely. Today it happened. We were Long last Friday but closed the position earlier in the week as we felt we were over exposed to dollar weakness. Obviously we wish we’d staye in now but … we have had a great week elsewhere so we can’t complain. We hope some of our readers have still followed our recommendation and are Long. If Long, look for price to break through 1200 once again and re-test 1220-1225 area.
Technical Recommendation: Look for a re-test of 1220-1225 area.
XAUUSD – Daily
► SP500: a very strong day today. Thank goodnessd we have not gone Short. Price is once again entering resistance towards recent all time highs. We are not comfortable being Long this market. We stand aside with a view to go Short higher up.
Technical Recommendation: Looking to go Short higher up.
SP500 – Daily
► DAX30: yesterday’s decision to exit the remainder of our STTS Short proved to be correct as price bounced strongly today following the US markets, however Greek woes probably caused late selling as price met with dynamic resistance at the 20 ema.
Technical Recommendation: Closed yesterday for 2.17 x Risk overall profit. Re-assessing.
DAX30 – Daily
CHECK OUR INTERACTIVE ECONOMIC CALENDAR FOR UPCOMING WORLDWIDE DATA RELEASES
CHARTING LEGEND:
DISCLAIMER
The information contained in this publication is not intended as an offer or solicitation for the purchase or sale of any financial instrument. Users acknowledge and agree to the fact that, by its very nature, any investment in CFDs and similar and assimilated products is characterised by a certain degree of uncertainty and that, consequently, any investment of this nature involves risks for which the user is solely responsible and liable.
Any recommendation, opinion or advice contained in such material reflects the views of TFF, and TFF expressly disclaims any responsibility for any decisions or for the suitability of any security or transaction based on it. Specifically, any decisions you may make to buy, sell or hold a security based on such research will be entirely your own and not in any way deemed to be endorsed or influenced by or attributed to TFF.
Past performance should not be seen as an indication of future performance. Market and exchange rate movements may cause the value of your investment to rise or fall and an investor may not get back the amount invested.
Investors considering opening a self-trading account or investing in the TFF Capital Pool, should limit their exposure to maximum 10% of their investment capital.
Eligibility for participation in the capital pool is subject to final determination and acceptance by TFF.
Investments are not obligations of, deposits in, insured or guaranteed by TFF.
