Technical Review : 30 April 2015

Posted On 30 Apr 2015
By :
Tag: , , , , , , ,

End of Day Technical Analysis Report for:


GOLD and SP500 

► EUR/USD: the Euro bounce continues, probably driven by Short covering at end of month, so we may see a retracement tomorrow. As per last commentary you should remain partially Long. Use a trailing Stop.
Technical Recommendation: Should still be partially Long. If flat look to buy on a retracement.
                                                                 EURUSD – Daily

GBP/USD: today price didn’t make it to 1.5540 resistance and instead formed a bearish piercing pattern. Longs should be either trailing the Stop, as per previous reports, and also consider taking profit here. A pull back is likely from these levels.
Technical Recommendation: Take some profit and/or use a trailing Stop.
                                                                 GBPUSD – Daily

► AUD/USD: yesterday’s doji at 0.8060 resistance was followed today by a sharp sell-off which provided the retracement we were looking for, having bagged nice profits from a previous Long earlier in the week. 0.7900 which acted previously as resistance is now support so we are looking for change of polarity at this level and a rotation upwards again, so we are looking to go Long again.
Technical Recommendation: Looking to re-enter Long.
                                                                 AUDUSD – Daily
                             Back to Top

► USD/JPY: this pair is trading sideways and doesn’t look like this is going to change any time soon, so we remain sidelined for the time being.
Technical Recommendation: Stand aside.
                                                                 USDJPY – Daily

► USD/CAD: yesterday’s long tailed doji did result in a retracement as envisaged. We happily remain Short as we see this bearish trend continuing. Our 1st Target is just above 1.1700.
Technical Recommendation: We are Short. Position ca 145 pips in profit.
                                                                 USDCAD – Daily

NZD/USD: today resulted in a sell-off which has now brought our Long trade nearly back to break even.We remain Long hoping the middle of the Bollinger band will act as dynamic support, as it did today, and cause an upward rotation once again.
Technical Recommendation: We are Long. Position close to B/E.
                                                                 NZDUSD – Daily

► GOLDyesterday, after our Daily Report was posted, we succumbed to the temptation to go Long and sadly today we witnessed a sharp sell off, bringing price back below 1200 and threatening to test 1180 support once again. We’re still in the trade and we hope the bottom of the Bollinger bands, combined with 1180 support, will cause the market to rotate upwards!
Technical Recommendation: Long. Position under pressure.
                                                                XAUUSD – Daily

SP500:  today’s test fo the 50 sma could mean further weakness tomorrow, but we have been spoofed before into thinking the market was going to collapse when it didn’t so we remain sidelined.

Technical Recommendation: Re-assessing.
                                                                 SP500 – Daily




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.

Won't your trader friends like this?
About the Author
TFF aims to provide our customers with the best skills and knowledge to achieve their personal financial goals and level the playing field. The senior officials and staff of the TFF Team have more than 80 years experience in financial product trading, sales and fund management. For more information on TFF CLICK HERE.

Related Posts

Leave a Reply