Daily Report - 20 January 2016


End of Day Technical Analysis Report for:

EURUSD, GBPUSD, AUDUSD, USDJPY
GOLD, and SP500



► EUR/USD: not unexpectedly today we got a rejection of prices above 1.0900. We say not unexpectedly because there's a lot of data coming out tomorrow and Friday so we don't expect much action until then. We are Long expecting an upside breakout.
Technical Recommendation: We are Long.
                                                                 EURUSD - Daily

GBP/USD: a pause today but still no evidence of a possible reversal or meaningful pull back. Price has broken through all supports and the next support is all the way down to 1.3650. A pull back is overdue and when it happens it will be quite violent.
Technical Recommendation: Stand aside.
                                                             GBPUSD - Daily

► AUD/USD: another inside candle today but this time a pin bar doji closing above key 0.6900 level. We will probably see an attempt at closing above the 8 ema tomorrow. If that fails it may be a Shorting opportunity.
Technical Recommendation: Look for a test of 8 ema resistance.
                                                                 AUDUSD - Daily
                           Back to Top

► USDJPY: today price finally tested the 116.00-116.25 area of support. Substantial buying came in causing a long tail to today's candle. We are now likely to see a bounce off this key support area.
Technical Recommendation: Look for a bounce.
                                                                 USDJPY - Daily
                                                             USDJPY - Weekly

GOLD: a strong show today re-testing 1105 resistance which for now is holding. We are Long @ 1081.5 and hope for an upside breakout this week.
Technical Recommendation: We are Long.Position +20$ in profit.
                                                               XAUUSD - Daily

► SP500: we have been saying that this week we were likely to see price reaching 1830 and we expected price to pause at this level and possibly bounce. Today we got exactly that. A long tailed pin possibly causing a fake downside breakout. We should see a strong bounce from here.
Technical Recommendation: Looking for a strong bounce.
                                                               SP500 - Daily
                                                             SP500 - Weekly

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