Daily Report - 15 December 2015


End of Day Technical Analysis Report for:

EURUSD, GBPUSD, AUDUSD, USDJPY
GOLDSP500 and WTI



► EUR/USD: as this pair came under pressure today, and having already given up profits in Gold this week by having to exit flat, we decided to take some profit in our STTS Long . If today's action is anything to go by, further downside is to come but we prefer to go into re-assessing mode while we wait for tomorrow's FOMC decision.
Technical Recommendation: Exited for +50 pips profit (+0.5 x Risk). Re-assessing.
                                                                 EURUSD - Daily

GBP/USD: in our weekend analysis we said that with consecutive bullish pin bars in the weekly chart, the next move should be to the upside but today's action would seem to suggest otherwise as Sterling gave way to domestic news that the UK has slipped back into deflation for the second time this year. So we are to wait for tomorrow to see if a US rate hike drives the nail into this pair even more or if we will see a higher low and an upward rotation from these levels.
Technical Recommendation: Stand aside.
                                                                 GBPUSD - Daily

► AUD/USD: as discussed in the weekend's STTS Video we feel this pair has the potential to re-test the bottom of a long term triangular consolidation around 0.7070 where we may get a Buy signal. As we are not prepared to take on a Short prior to FOMC we are left with waiting for the market to reach this level, if indeed we are correct, and see what price action shows us there.
Technical Recommendation: Stand aside.
                                                                 AUDUSD - Daily
 
                           Back to Top

► USDJPY: as discussed yesterday our first Short gave us a nice +260 pips profit. We remained Short in a later position which we exited today at Break Even. Today's surge after yesterday's bounce off 120.40 support (which was our original target) suggests we may see further strength tomorrow.
Technical Recommendation: We are now Flat. Re-assessing.
                                                                 USDJPY - Daily

GOLD: yesterday's bearish candle which saw us exit the market at Break Even, was followed today by an inside pin bar, so chances are we will indeed see further downside tomorrow.
Technical Recommendation: Re-assessing.
                                                               XAUUSD - Daily

► SP500: in our weekend analysis we said we were in stand-by mode with preference to going Long on a fake downside breakout of 2000 support on a clear Buy signal. Yesterday's pin bar respecting 2000 support was such a signal but we chose to stand aside ahead fo FOMC due to other positions on our book. Today's bullish continuation makes us regret having stood idle. Still ...tomorrow's volatility might show us a better opportunity.
Technical Recommendation: Missed possible Buy signal. Looking to go Long.
                                                               SP500 - Daily

► WTI: today we went STTS Long in WTI Crude intraday as we got a set-up in the 1 hr time frame. We only went Long in ½ Risk as it is against a strong downtrend. Price closed off the highs, posting a spinning top doji. We hope for a bounce tomorrow.
Technical Recommendation: We are Long. Position arounf B/E.
                                                              WTI - Daily

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