Technical Review – 28 April 2015

Posted On 28 Apr 2015

By : TFF

Tag: AUD, CAD, EUR, GBP, Gold, JPY, NZD, sp500

End of Day Technical Analysis Report for:

EURUSD, GBPUSD, AUDUSD, USDJPY, USDCAD, NZDUSD

► EUR/USD: another weak day for the dollar and therefore a strong show in this pair. The 50 sma was pierced as we envisaged in yesterday’s report and now price is likely to test 1.1030 resistance. As previously stated we did not enter Long due to the fact that we had 3 other positions shorting the greenback, but we have been recommending traders to go Long. With FOMC styatement coming up tomorrow we recommend taking some money off the table at 1.1030.

Technical Recommendation: Should be Long. Book some profits at 1.1030.

EURUSD – Daily

► GBP/USD: price again very strong. Longs should stay Long as we see no resistance until 1.5540. A trailing stop would not be a bad idea due to FOMC statement tomorrow.

Technical Recommendation: Stay Long.

GBPUSD – Daily

► AUD/USD: Our STTS Long in this pair today hit 1st Target, where we took profit in 70% of the position and we also exited remainder later in the day at 0.8015. Combined gain of 2.8 x Risk.

Technical Recommendation: Profit Taken. Looking to re-enter Long on a retracement.

AUDUSD – Daily

► USD/JPY: as stated yesterday, this pair looks like heading south again. But there is strong support just below, we prefer to stand aside in this pair for the time being.

Technical Recommendation: Stand aside.

USDJPY – Daily

► USD/CAD: another down day in this pair again with momentum. We are Short in 1 1/3 x Risk and we feel very comfortable with this position. Our 1st Target is just above 1.1700.

Technical Recommendation: We are Short. Position ca 180 pips in profit.

USDCAD – Daily

► NZD/USD: our Long is still looking in good shape. Price reached tough resistance today at 0.7700 which we hope will be broken. Our 1st target is well above 0.7800.

Technical Recommendation: We are Long. Position ca 115 pips in profit.

NZDUSD – Daily

► GOLD: Gold carried through yesterday’s bounce and moved further above 1200. Yesterday we said we were tempted to start looking at going Long, but as stated before, we really would like to see price break out of the range 1180-1220, so while it stays inside it we are unlikely to get involved, tempting though it may be!

Technical Recommendation: Stand aside with an eye on going Long!

XAUUSD – Daily

► SP500: this index is confusing us! Its choppiness at all time highs does indicate a probable major downward correction is imminent BUT today’s intraday strong bounce off the lows with price respecting the 8ema now points at likely further strength and a possible upside breakout! We made good money going Long earlier this month but now we prefer to stand aside.

Technical Recommendation: Re-assessing.

SP500 – Daily

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