Daily Report - 17 November 2015


End of Day Technical Analysis Report for:

EURUSD, GBPUSD, AUDUSD, USDJPY
GOLDSP500 and Others



► EUR/USD: as price today broke through 1.0674 support so this pair looks destined for further downside. Next support levels at 1.0530 and 1.0470.
Technical Recommendation: Looking to go Short.
                                                                 EURUSD - Daily

GBP/USD: today we saw strong bearish bias intraday which made us take the Long hedge position off, move the stop down on the medium term Short we built last week and at the same time add another Short. We now have an exposure to Sterling of 1.5 x Risk. Today's pin bar leaves us slightly disappointed but gives us no reason to want to take our Shorts off.
Technical Recommendation: We are Short.
                                                                 GBPUSD - Daily

► AUD/USD: a topsey turvey day in the Aussie saw us go Short intraday on the back of a signal in the lower time frames, but instead the market proved us wrong and swung to our Stop level taking us out. This pair is still likely to turn downwards in our opinionso we may re-enter Short in the next couple of sessions.
Technical Recommendation: Stopped out. Re-assessing.
                                                                 AUDUSD - Daily
                           Back to Top


► USDJPY: we have been saying for a while that we expect the market to reach 124.25-125.80 prior resistance and had been waiting for any buy signals with good R:R. We went Long yesterday after the NY close. Today's small follow through is still a bullish one so we are comfortable with this position.
Technical Recommendation: We are Long.
                                                                 USDJPY - Daily

GOLD: after price having reached the key support area 1070-1080 we expected to see a retracement but it did not happen and today's peep below 1070 suggests a downside breakout is likely.
Technical Recommendation: Possible downside breakout.
                                                               XAUUSD - Daily

► SP500: after yesterday's close we went Long. Today's close well off the highs does not deter us as the momentum generated by yesterday's massive bullish candle is very likely to push this market higher in the lead up to Xmas.
Technical Recommendation: We are Long.
                                                               SP500 - Daily
 

► OTHER: today we took off the USDCAD Long as we have given it enough time to follow through but appears to be stalling. Booked a profit of +33 pips and +0.5 x Risk.

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