Daily Report - 21 April 2016


End of Day Technical Analysis Report for:

EURUSD, GBPUSD, AUDUSD, USDJPY
, GOLD, and SP500



► EUR/USD: we re-entered Short yesterday and sadly got stopped out in today's volatility, but as price then collapsed off the highs, leaving us with a long wicked pin bar, we entered Short again!
Technical Recommendation: Stopped out of yesterday's trade. We ar Short again!
                                                                 EURUSD - Daily

GBP/USD: we were looking for a re-test of recent 1.4514 top of the range. Luckily we did not go Long as today ended in a bearish pin bar. Traders shoudl be Shortthough we are unlikely to do so as we have other psoitions.
Technical Recommendation: Pin bar at resistance. Look for a downward correction.
                                                               GBPUSD - Daily

► AUD/USD: today we got a bearish confirmation to yesterday's spinning top doji but as teh weekly chart shows, we are still bullish on this pair so we hope the EMA layer and 0.7670-0.7720 band of support will cause the market to resume to the upside.
Technical Recommendation: We are Long. Position +178 pips in profit.
                                                                 AUDUSD - Daily
                                                               AUDUSD - Weekly
                           Back to Top

► USDJPY: the falling 20 sma causede the market to pull back a little today. We were looking for a Shorting opportunity at confluent resistance with a target of 115.30. Today we got a signal in teh shorter time frames which made us go Short. Price did not follow through so hopefully it will do so overnight.
Technical Recommendation: We are Short.
                                                                 USDJPY - Daily

GOLD:  we were looking for an opportunity to re-enter Short as we stll think Gold is in a possible 'wide' Head & Shoulder reversal pattern. Today's long wicked pin bar gave us that opportunity so we re-entered Short at 1250.
Technical Recommendation: We are Short.
                                                               XAUUSD - Daily

► SP500: a bearish engulfing candle at key 2100 resistance today. This makes for a likely correction but first the 8 ema needs ot be broken.
Technical Recommendation: Likely correction
                                                               SP500 - Daily
 

CHECK OUR INTERACTIVE ECONOMIC CALENDAR FOR UPCOMING WORLDWIDE DATA RELEASES

DISCLAIMER
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 should limit their exposure to maximum 10% of their investment capital.
Investments are not obligations of, deposits in, insured or guaranteed by TFF.