Daily Report - 26 February 2015


End of Day Report for:

EURUSD, GBPUSD, AUDUSD, USDJPY, GOLD
and Special Situation: WTI Crude

( Technical Analysis - STTS )

This end of day report is compiled from our trade setups. 
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► EUR/USD: finally some movement. Price broke to the downside today and is now going to try to re-test 1.1100 support. We will resist going Short as the R:R to 1.1100 is too small. We prefer to see what happens if price gets there.
Technical Recommendation: Look to go Long.
                                                         EURUSD - Daily

 
GBP/USD: price today backed off dramatically. We did not go long as had other dollar shorts on in other pairs. Now we will wait and see if we get a rotation higher to go Long in this pair. With the ema layer well above the 50 sma, we believe this is the most likely scenario next.
Technical Recommendation: Looking for price action signal to go Long.
                                                         GBPUSD - Daily

 
► AUD/USD: yesterday we went Long on a close above the 20 ema. Today's bear candle puts this trade in question. We will see if we get stopped out or not.
Technical Recommendation: We are Long. Position ca 50 pips in the red.
                                                        AUDUSD - Daily
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► USD/JPY: yesterday we went Short on the back of the fakey pin bar from Tuesday. Price today returned to the mother candle's high and stopped for now. Hopefully we will see price rotate to the downside again.
Technical Recommendation: We are Short. Price ca 50 pips in the red.
                                                         USDJPY - Daily

 
► GOLD: today, having missed an earlier opportunity, we went Long as price seems to have well and truly broken out of the falling wedge pattern we have been looking at for a while (best seen in the 4 hr chart). We went Long with 2 entries which were both filled. Price has temporarily backed off but u stop is below the recent swing low which for now is far enough away. The daily chart rather worryingly displays a bearish pin bar at the EMA layer which could spell downtrend resumption. We will see.
Technical Recommendation: Went Long earlier today. Position slightly under water.
                                                        XAUUSD - 4 hr
                                                        XAUUSD - Daily

WTI Crude: we resume covering Crude. We have been STTS Long in WTI Crude at 47.20$ since 2nd Feb and today we decided it was time to add to this position. We bought more as price closed yesterday above the 50 sma. We doubled our usual risk for this trade as we are convinced Oil is very unlikely to re-test the January low of 43.50$.
Technical Recommendation: We added to our Long today.
                                                        WTI Crude - Daily

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