Weekly Bonus Technicals 23 January 2016


Weekly Bonus Analysis Video on SP500, USDJPY and GOLD ( 5 min  05 sec)

TEXT:
Hello everybody .. here’s our weekly bonus analysis …I'm Stef Breschi and and today is Saturday, the 23rd of January 2016.
Today we’re taking a look at 3 markets we have positions in which we would like to share… the SP500, the USDJPY pair and Gold.
SP500
We’ve tried to catch a bounce in the last couple of weeks and failed once but this week we could not ignore this daily pin bar at key 1835 support.
We went Long on a 50% retracement of the daily pin bar in the 1 hr chart at 1848. We were rewarded by nice upside continuation and are currently ca 57 points in profit.
Our main target is 1963, the 50 Fib retracement but the strong weekly bullish candle suggests we may see even further upside , so a secondary target would be 2000.
USDJPY
A similar story in this pair. We went Long after a daily pin bar at key 116.00 support expecting a bounce. We bought as the 1 hr chart showed price closing above the 40 ema. Also rewarded here with a nice unrealized profit of ca 155 pips.
Our main target is again the 50 Fib level which is around 120 significant level. There is minor resistance at 1870 but we think it will be easily broken.
GOLD
We’ve been Long for a while and sweating this one a bit. We are Long at 1081.50. There is selling above 1100$ but we believe this market is making higher lows and is about to break out to the upside and stage a bit of a rally, so our targets are quite high, even if we expect the 50 Fib level to make the market pause if we do break out.
Thank you for watching and have a great week!

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