Daily Report - 9 December 2015

End of Day Technical Analysis Report for:

GOLD, and SP500

► EUR/USD: a strong surge today and the upside breakout we were expecting. Our STTS Long is now looking great. Our first target is not far away.
Technical Recommendation: We are Long. Position +150 pips in profit.
                                                                 EURUSD - Daily

GBP/USD: today's price action caught us by surprise as yesterday we said we would go Long if we got a convincing signal in the daily time frame. Today's bullish candle is definitley that but such a strong surge is unlikely to see us go Long unless we get a retracement tomorrow.
Technical Recommendation: Looking to go Long on a retracement.
                                                                 GBPUSD - Daily

► AUD/USD: we said we would look for buying opportunities in the present area. We're glad we waited, as today confluent support (0.7185 and the 50 Fib) was tested once again but this time heavy buying came in providing us with a clearer pin bar.
Technical Recommendation: Looking to go Long.
                                                                 AUDUSD - Daily
                           Back to Top

► USDJPY: today this pair collapsed through the neckline of the Head & Shoulder pattern which has now officially triggered. Luckily we went STTS Short on an early entry a few days ago as today we would have probably missed out in such a swift move. We are Short  in ½ Risk. Our target not far away.
Technical Recommendation: We are Short. Position +160 pips in Profit.
                                                                 USDJPY - Daily

GOLD: this is the odd one out of our 3 current positions. We actually were the most bullish on Gold this week but so far it has disappointed. We went Long last Friday at 1062 prior to the major surge and we had higher expectations this week. Instead price is hovering above 1070 which may come under more pressure tomorrow after today's long wick inside pin bar pointing south. We have moved our Stop to Break Even so we're not worried but we still hope 1070 support will stand firm and for the upside to resume.
Technical Recommendation: We are Long. Position +109 pips in profit.
                                                               XAUUSD - Daily

► SP500: further downside today as price hits 2045 support. This is a crazy market right now. The more it retraces and of course the more it becomes tempting to buy it but we remain cautious. Let's see what happens at this Key Level.
Technical Recommendation: Stand aside. Price at Key Support
                                                               SP500 - Daily


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