Daily Report - 19 January 2016


End of Day Technical Analysis Report for:

EURUSD, GBPUSD, AUDUSD, USDJPY
GOLD, and SP500



► EUR/USD: a non-eventful day as price languishes around our in-cost. We are Long expecting an upside breakout. A lot of data coming out Thursday and Friday so we don't expect much action until then.
Technical Recommendation: We are Long.
                                                                 EURUSD - Daily

GBP/USD: we were looking for evidence of a possible reversal or meaningful pull back at 1.4230 key support. Today we saw an opportunity in the 1 hr time frame after higher than expected inflation data and went Long intraday. Unfortunately the market could not sustain it and resumed to teh downside, breaking through 1.4230 and closing below it. This has opened up the possibility of seeing the market at the next support which is all the way down to 1.3650.
Technical Recommendation: Went Long. Stopped out. Re-assessing.
                                                             GBPUSD - Monthly

► AUD/USD: another inside candle today with selling coming in above 0.6900. Even though it was a stronger close we see the market more likely to rotate to teh downside again within Friday's mother candle.
Technical Recommendation: Possible rotation and downside breakout.
                                                                 AUDUSD - Daily
                           Back to Top

► USDJPY: today price pulled back some more and we got another inside candle, respecting 8 ema dynamic resistance. As mentioned before, 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 confluent resistance.
Technical Recommendation: Looking to Short.
                                                                 USDJPY - Daily
                                                             USDJPY - Weekly

GOLD: inside doji today which leaves us none-the-wiser. We still believe price has formed a new higher low last week and is about to resume to the upside.
Technical Recommendation: We are still Long.
                                                               XAUUSD - Daily

► SP500: an inside pin bar doji today. The very long wick rejecting prices above 1900 suggests a possible downside breakout to test possibly all the way down to 1830 this week where we expect price to pause and possibly bounce.
Technical Recommendation: Possible downside breakout to test 1830.
                                                               SP500 - Daily

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