Daily Report - 12 January 2016

End of Day Technical Analysis Report for:

GOLD, and SP500

► EUR/USD: after yesterday's rejection of prices above 1.0900 we re-entered Short today as price broke down in the lower time frames. The day ends in a doji which is meaningless as it's in mid-range.
Technical Recommendation: We are Short.
                                                                 EURUSD - Daily

GBP/USD: today price respected the lower Bollinger band closing well off the lows but ultimately staged yet another bearish day with a new low. We are now in an area not seen since Jan 2010. Next static support is at 1.4230.
Technical Recommendation: Further downside likely. 1.4230 next support.
                                                                 GBPUSD - Daily

► AUD/USD: an inside pin bar today as price consolidates just below 0.7000 and above 0.6900-0.6945 support area. We may see a bounce off these levels.
Technical Recommendation: Look for a possible bounce.
                                                                 AUDUSD - Daily
                           Back to Top

► USDJPY: we expected price to go all the way down to the 116 area but it is currently consolidating above 117.00. Too soon to call for a bounce.
Technical Recommendation: Stand aside.
                                                                 USDJPY - Daily

GOLD: after breaking out of the 1050-1090 range last week we were looking to go Long on a retracement to 1085-1090 area. Today price got there but did not show any signs of wanting to rotate. This is the perfect event area for a Long so we will be watching for any evidence of a bounce tomorrow to buy.
Technical Recommendation: Looking to go Long.
                                                               XAUUSD - Daily

► SP500: we said we could see price back at 1870-1900 once again and today we saw a genuine attempt to confirm yesterday's bull candle bouncing off 1900. We went Long intraday as the 1 hr chart gave us a signal. The day ends in a doji but with a higher close and a higher high so we are still hopeful we have a good trade on here.
Technical Recommendation: We are Long.
                                                               SP500 - Daily


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