Daily Report - 26 January 2016

End of Day Technical Analysis Report for:

GOLD, and SP500

► EUR/USD: the Euro is still stuck inside last Thurday's mother candle. Price right in the middle of the recent range 1.0800-1.0970. With the exception of a fake downisde breakout in the first week of January, we've been stuck in this range since middle of December. Friday's bear inside candle was bearish but its effect has been wiped out by this week's action. Indecision reigns.
Technical Recommendation: Stand aside.
                                                                 EURUSD - Daily

GBP/USD: today Sterling bounced off 1.4230 support creating a fake downside breakout in the process. A daily close above Friday's mother candle high could mean a meaningful bouce is underway.
Technical Recommendation: Look for an upside breakout of Friday's mother candle.
                                                             GBPUSD - Daily

► AUD/USD: today we saw a push up from the 50% retracement of the recent bounce. We believe this has created a Higher Low and price is about to break through 0.7000 resistance. We went Long intraday.
Technical Recommendation: We are Long. Posistion '@ the money'.
                                                                 AUDUSD - Daily
                           Back to Top

► USDJPY: our Long is looking good. Today price carried on retracing after yesterday but bounced strongly forming a pin bar. We believe price will break 118.70 resistance and move towards our target.
Technical Recommendation: We are Long. Position +118 pips in profit.
                                                                 USDJPY - Daily

GOLD: as we have been expecting, 1109 resistance was broken today and the rally continues. Our Long is looking great.
Technical Recommendation: We are Long. Position +38.5 $ in profit.
                                                               XAUUSD - Daily

► SP500: after a retracement, today price bounced off 1870 support and looks set to break 1900 resistance. If it does, our target is likely to be reached.
Technical Recommendation: We are Long. Position +50 points in profit.
                                                               SP500 - Daily


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