  At optical wavelengths, an exoplanet's signature is essentially reflected
light from the host star - several orders of magnitude fainter. Since it is
superimposed on the star spectrum its detection has been a difficult
observational challenge. However, the development of a new generation of
instruments like ESPRESSO and next generation telescopes like the E-ELT put us
in a privileged position to detect these planets' reflected light as we will
have access to extremely high signal-to-noise ratio spectra. With this work, we
propose an alternative approach for the direct detection of the reflected light
of an exoplanet. We simulated observations with ESPRESSO@VLT and HIRES@E-ELT of
several star+planet systems, encompassing 10h of the most favourable orbital
phases. To the simulated spectra we applied the Cross Correlation Function to
operate in a much higher signal-to-noise ratio domain than when compared with
the spectra. The use of the Cross-Correlation Function permitted us to recover
the simulated the planet signals at a level above 3 \sigma_{noise} significance
on several prototypical (e.g., Neptune type planet with a 2 days orbit with the
VLT at 4.4 \sigma_{noise} significance) and real planetary systems (e.g., 55
Cnc e with the E-ELT at 4.9 \sigma_{noise} significance). Even by using a more
pessimistic approach to the noise level estimation, where systematics in the
spectra increase the noise 2-3 times, the detection of the reflected light from
large close-orbit planets is possible. We have also shown that this kind of
study is currently within reach of current instruments and telescopes (e.g., 51
Peg b with the VLT at 5.2 \sigma_{noise} significance), although at the limit
of their capabilities.
