Daily Report - 28 January 2016


End of Day Technical Analysis Report for:

EURUSD, GBPUSD, AUDUSD, USDJPY
GOLD, and SP500



► EUR/USD: price today broke through last Thurday's mother candle high but stopped at the top fo the recent range 1.0800-1.0970. As we've been saying, until we see a decisive breakout of this range we are unlikely to get involved. A close above 1.0970 could open up further upside.
Technical Recommendation: Stand aside.
                                                                 EURUSD - Daily

GBP/USD: today a fake upside breakout of Friday's mother candle high and a close just below it. The 20 sma is also in this area and acts as resistance. A close above both would signal a likely major bounce continuation.
Technical Recommendation: Price at key confluent resistance. Stand aside.
                                                             GBPUSD - Daily

► AUD/USD: today price tested 0.7100 resistance and 50 Fib level of recent downtrend. We closed below it but the overall momentum is still bullish so we will remain Long.
Technical Recommendation: We are Long. Posistion +80 pips in profit
                                                                 AUDUSD - Daily
                           Back to Top

► USDJPY: we have been Long and expecting the pair to break 118.70 resistance and move towards our target. Today there was another attempt which closed just above 118.70. We still maintain there is further uspide to come so we remain Long.
Technical Recommendation: We are Long. Position +160 pips in profit.
                                                                 USDJPY - Daily

GOLD: today Gold pulled back to the 1109-1113 band which acted as resistance twice earlier this month. If we are right and we are in a substantial rally, we will see a change of polarity and this area will act as support, causing an upside resumption. If this happens we may add to our position.
Technical Recommendation: We are Long. Position +34 $ in profit.
                                                               XAUUSD - Daily

► SP500: another rejection of prices above 1900 today.  Confluent resistance (20sma and 1900) appears to be strong. Still Long and will remain so on the back of a very bullish reversal signal in the weekly chart last week.
Technical Recommendation: We are Long. Position +40 points in profit.
                                                               SP500 - Daily
                                                            SP500 - Weekly

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