Daily Report - 4 February 2016

End of Day Technical Analysis Report for:

GOLD, and SP500

► EUR/USD: further upside today while we expected a pause. As we've been saying we've mised out on this breakout as we were already Long in Sterling and Aussie.  Next resistance is at 1.1400 so we would join this rally on a pull-back if we get one.
Technical Recommendation: Looking to go Long on a pull back.
                                                                 EURUSD - Daily

GBP/USD: We are Long. Price pausing with a doji at 1.4600 resistance today but we believe momentum is high and price will break through, even if we get a pull back from here. We have an ambitious target for this trade.
Technical Recommendation: We are Long. Position +260 pips in profit.
                                                             GBPUSD - Daily

► AUD/USD: more upside today though price closed off the highs. We remain Long. Not far to go for our targets.
Technical Recommendation: We are Long. Posistion +195 pips in profit.
                                                                 AUDUSD - Daily
                           Back to Top

► USDJPY: we changed our stance to going Short on a retracement but again we didn't get one today. With price close to 116.00 key support again, we will stand aside. Pity ..we made money on the way up but failed to get involved on the way down!
Technical Recommendation: Stand aside.
                                                                 USDJPY - Daily

GOLD: another bullish day justifying our stance to stay Long expecting a substantial rally. 200 sma resistance is long gone! We have an ambitious target for this also. We remain Long.
Technical Recommendation: We are Long. Position +74 $ (740 pips) in profit.
                                                               XAUUSD - Daily

► SP500: a doji after a re-test of 1900 support. We believe the market has formed a Higher Low and we expect price to resume towards our targets, so we remain Long. We may change our mind if we get a daily close below 1900.
Technical Recommendation: We are Long. Position +64 points (640 pips) in profit.
                                                               SP500 - Daily


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