Daily Report - 21 January 2016


End of Day Technical Analysis Report for:

EURUSD, GBPUSD, AUDUSD, USDJPY
GOLD, and SP500



► EUR/USD: our Long was stopped out today only for price to then close well off the lows. Price stuck between 1.0800 and 1.0970. Maybe tomorrow's data will cause a breakout of this range but we've been stopped out 3 times in this pair recently so we have to bow out for now.
Technical Recommendation: Stopped out. Re-assessing.
                                                                 EURUSD - Daily

GBP/USD: we've been saying a pull back is overdue and when it happens it will be quite violent. Today's pin bar may be the start but certainly not violent yet. 1.4230 is a key resistance level now (from weekly chart) so let's see if it gives way.
Technical Recommendation: Possible retracement.
                                                             GBPUSD - Daily

► AUD/USD: yesterday we said today we would probably see an attempt at closing above the 8 ema. It happened and it was a very strong break. Price met with static resistance at 0.7015 but it is likely we will see further upside tomorrow. This is a proper retracement. We've missed the move so far but we will look at possibly entering Long if we see eveidence of 0.7015 giving way as resistance.
Technical Recommendation: Look for an upside break of 0.7015 resistance.
                                                                 AUDUSD - Daily
                           Back to Top

► USDJPY: yesterday we said we were likely to see a bounce off this key support area. We went Long before the Asian session and are enjoying upside continuation. Price closed above the 8 ema which looks good for our position.
Technical Recommendation: We are Long. Position +66 pips in profit.
                                                                 USDJPY - Daily

GOLD: price attempted to retrace today but buying came in causing a similar close to yesterday but an inside pin bar which is quite bullish and bodes well for our Long position.
Technical Recommendation: We are Long. Position +19.5 $ in profit.
                                                               XAUUSD - Daily

► SP500: as price looked like bouncing off 1830 support, as discussed in last night's report, today we entered Long on a 50% retracement of yesterday's lont tailed pin bar. Still some resistance at the 8 ema and 1870 but we hope for upside continuation tomorrow.
Technical Recommendation: We are Long. Position +18 points in profit.
                                                               SP500 - Daily
                                                             SP500 - Weekly

CHECK OUR INTERACTIVE ECONOMIC CALENDAR FOR UPCOMING WORLDWIDE DATA RELEASES

DISCLAIMER
The information contained in this publication is not intended as an offer or solicitation for the purchase or sale of any financial instrument. Users acknowledge and agree to the fact that, by its very nature, any investment in CFDs and similar and assimilated products is characterised by a certain degree of uncertainty and that, consequently, any investment of this nature involves risks for which the user is solely responsible and liable.
Any recommendation, opinion or advice contained in such material reflects the views of TFF, and TFF expressly disclaims any responsibility for any decisions or for the suitability of any security or transaction based on it. Specifically, any decisions you may make to buy, sell or hold a security based on such research will be entirely your own and not in any way deemed to be endorsed or influenced by or attributed to TFF.
Past performance should not be seen as an indication of future performance. Market and exchange rate movements may cause the value of your investment to rise or fall and an investor may not get back the amount invested.
Investors considering opening a self-trading account should limit their exposure to maximum 10% of their investment capital.
Investments are not obligations of, deposits in, insured or guaranteed by TFF.