Daily Report - 18 January 2016


End of Day Technical Analysis Report for:

EURUSD, GBPUSD, AUDUSD, USDJPY
GOLD, and SP500



► EUR/USD: we are Long and the reasons for it are in yesterday's Weekly Bonus Video. Nothing has changed today to make us change the narrative.
Technical Recommendation: We are Long.
                                                                 EURUSD - Daily

GBP/USD: now we are at 1.4230 key support from back in 2010 but there is no evidence that it will hold. Next support is all the way down to 1.3650. A pull back is overdue but we'll see what happens this week.
Technical Recommendation: Market at Key Support.
                                                             GBPUSD - Monthly

► AUD/USD: an inside pin candle today.  A downside breakout could see the next support tested at 0.6780.
Technical Recommendation: Possible downside breakout.
                                                                 AUDUSD - Daily
                           Back to Top

► USDJPY: today price pulled back after Friday's bearish candle. The weekly chart suggests further downside to come and a re-test of 116.00-116.25. We hope to get a sell signal at dynamic resistance.
Technical Recommendation: Looking to Short.
                                                                 USDJPY - Daily
                                                             USDJPY - Weekly

GOLD: we believe price has formed a new higher low last week and is about to resume to the upside. Today's small inside doji doesn't change our view.
Technical Recommendation: We are still Long.
                                                               XAUUSD - Daily

► SP500: a small inside doji today. The bearish close on Friday suggest further downside to test possibly all the way down to 1830 this week. We expect price to bounce off this support.
Technical Recommendation: Looking to a ladder entry strategy for a reversal.
                                                               SP500 - Daily
                                                               SP500 - Weekly

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