Daily Report - 16 December 2015


End of Day Technical Analysis Report for:

EURUSD, GBPUSD, AUDUSD, USDJPY, NZDUSD

GOLDSP500 and WTI



► EUR/USD: not much volatility in the end as the Fed raise rates, which was widely expected. Risk assets appear to be benefiting and with them the US Dollar, but the lack of impetus in currencies leaves us cautious and glad we took a profit yesterday, albeit small. The Euro appears under pressure at end of day so we do see potential downside tomorrow but with strong confluent support at 1.0820 we do not feel a Short is worthwhile at this moment.
Technical Recommendation: Stand aside.
                                                                 EURUSD - Daily

GBP/USD: similarly to the Euro, we see more downside tomorrow but with key support 1.4900 just below, there is not a sufficient R:R to go Short at these levels. We prefer to stand aside and wait to see what happens at 1.4900 if the market does go there .
Technical Recommendation: Stand aside.
                                                                 GBPUSD - Daily

► AUD/USD: an inside candle today. We still 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 per above pairs, we perefr to wait 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: glad we took our profits earlier in the week as this pair has retraced all the way back to 122.23 resistance. This area is Key now so we will wait to see how the market reacts to it.
Technical Recommendation: Price at key resistance. Re-assessing.
                                                                 USDJPY - Daily

► NZDUSD: as discussed in the weekend's STTS Video, we believe this pair is in a rising channel and have been looking for an opportunity to go Long. We took a Long today as price looked like breaking to the upside. We have a relatively tight Stop so we hope price will indeed break overnight.

Technical Recommendation: We are Long.
                                                                 NZDUSD - Daily

GOLD: we had a feeling that exiting the market at Break Even yesterday would come back and bite us in the posterior! Today price closed strongly which bodes well for further uspide to come, BUT there does still seem to be selling just above 1070 which makes us hesitate. We will try to follow price closely tomorrow to see if a new Long is warranted.
Technical Recommendation: Looking to go Long again.
                                                               XAUUSD - Daily

► SP500: as discussed yesterday, we had hoped today's volatility might give us a retracement to go Long but price climbed higher without govong us the opportunity. With a close at key reistance 2070 we still hope we might get a dip.
Technical Recommendation: Looking to go Long on any dip.
                                                               SP500 - Daily

► WTI: we are still STTS Long in WTI Crude looking for a rebound and at today's close the position is under some pressure. We only went Long in ½ Risk as it is against a strong downtrend.
Technical Recommendation: We are Long. Position under pressure.
                                                              WTI - Daily

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