Daily Report - 1 February 2016

End of Day Technical Analysis Report for:

GOLD, and SP500

► EUR/USD: price still trading inside 1.0780-1.0970 range and we are unlikely to trade it until we see a decisive break out of this. Slight preference to the downside after last Friday’s bearish candle but today the market retraced back to the middle of the range so .... nothing to do.
Technical Recommendation: Stand aside.
                                                                 EURUSD - Daily

GBP/USD: as price has been chopping around and giving fake upside and downside breakouts over the last 2 weeks we had been waiting for a clear breakout which we got today. The market is now set for more upside so we will be looking to go Long on any retracement
Technical Recommendation: Looking to go Long.
                                                             GBPUSD - Daily

► AUD/USD: we went Long last week after a retracement and an upward rotation at 0.7000. Price rallied since then and we see this market continuing to the upside but it has stopped at the 50 Fib level of the last downtrend where we expected to see a pull back but instead today price closed strongly and above 0.7100 which suggests we may see price resuming towards our targets. We remain Long.
Technical Recommendation: We are Long. Posistion +105 pips in profit
                                                                 AUDUSD - Daily
                           Back to Top

► USDJPY: see this weekends Weekly Bonus Video.
Technical Recommendation: Profit taken last week (+260 pips and 2 x Risk). Waiting for a pull back.
                                                                 USDJPY - Daily

GOLD: see this weekends Weekly Bonus Video.
Technical Recommendation: We are Long. Position +46.5$ (465 pips) in profit.
                                                               XAUUSD - Daily

► SP500: see this weekends Weekly Bonus Video.
Technical Recommendation: We are Long. Position +87 points (872 pips) in profit.
                                                               SP500 -Weekly


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