Daily Report - 9 November 2015


End of Day Technical Analysis Report for:

EURUSD, GBPUSD, AUDUSD, USDJPY
GOLD, and SP500



► EUR/USD: this pair has broken through key support 1.0820-1.0850 as the bearish tone continues. So this week we will be looking for any retracement to go Short. Hopefully we'll get a Sell signal in the lower time frames on a re-test of 1.0820 as resistance. The next level of support is 1.0470.
Technical Recommendation: Looking to Sell on a retracement.
                                                                 EURUSD - Weekly

GBP/USD: our STTS Short from last week hit both targets on Thursday and Friday for a great trade of R:R=+3.15.
Price retraced today to 1.5110 level which has acted as resistance having been prior support (change of polarity) and we are looking to go Short again.
If the market does continue to the downside next minor support is at 1.4950 and nothing below that until 1.4635.
Technical Recommendation: Profit Taken (+248 pips). Looking to go Short again.
                                                                 GBPUSD - Daily

► AUD/USD: last week price met with strong resistance at 0.7200 then collapsing through 0.7070 support. This week we will be looking for any retracement to go Short with 0.6945-0.6900 as target..
Technical Recommendation: Looking to go Short.
                                                                 AUDUSD - Daily
                           Back to Top


► USDJPY: last couple of weeks we expected price to stall and possibly reverse at 121.50-121.70 resistance, instead the market burst to the upside on Friday.
Now we can expect the market to reach 124.25-125.80 prior resistance. So we’ll be looking for any buy signals on a retracement with good R:R.
The market opened today with a small gap up so we thought we may not get a retracement but the day ended in a doji, which may after all mean we may get a chance to go Long lower down.
Technical Recommendation: Looking to go Long on a retracement.
                                                                 USDJPY - Weekly

GOLD: We had been short at 1165 and took the position off at the close of the prior week at 1140 expecting a bounce but also declaring our intention to go Short again which we failed to do. So we missed on the ensuing collapse. Instead last week we tried to catch a reversal at 1100 by going Long with a 2 entry strategy expecting 1100 to hold as support. It didn’t, and we got stopped out at 1095. Luckily only in ½ Risk.
We cannot go Short at these levels. The key support area 1070-1080 is very close now. Will the recent bearish momentum be strong enough to burst through it? We’ll find out this week. We can only go into stand-by mode and wait to see how price reacts to this key level..
Technical Recommendation: Stand aside.
                                                               XAUUSD - Weekly

► SP500: the market today retraced back to the 20 ema but did not bounce enough off it to trigger a Long. The index market remains in bullish mode, but we may get a bigger retracement where we will look for any Buy signals.
Technical Recommendation: Looking to go Long on a pull back.
                                                               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.