Daily Report - 9 February 2016

End of Day Technical Analysis Report for:

GOLD, and SP500

► EUR/USD: as discussed in yesterday's report, we were looking to go Long and today we did so as price in the 1 hr time frame was giving us strong indications of a likely upside breakout. We went Long at 1.1200. We got the breakout and are now enjoying a 90 pips profit together with our subscribers. Our targets can be seen in the weekly chart below.
Technical Recommendation: We are Long. Position +90 pips in profit.
                                                                 EURUSD - Daily
                                                               EURUSD - Weekly

GBP/USD: We are still Long. Price today formed an inside bull candle. As we've been saying, as long as price remains above the 20 sma area we will remain Long.
Technical Recommendation: We are Long. Position +137 pips in profit.
                                                             GBPUSD - Daily

► AUD/USD: today we exited our Long intraday as price was coming under pressure, for a small profit (+33 pips and 0.4 x Risk).  As we did so, we told our subscribers that we would look to re-enter Long lower down or on respect of nearby support. As the day ends in a long tailed pin bar at said support, we will now look to re-enter Long.
Technical Recommendation: Took small profit of +33 pips. Looking to re-enter Long.
                                                                 AUDUSD - Daily
                           Back to Top

► USDJPY: a lower high and lower low today closing below 115.56 level. The long tail suggests we may see a pull back tomorrow, but as there is no static support below here until 110, traders should be looking to go Short in this pair on any pull back.
Technical Recommendation: Looking to go Short on a pull back.
                                                                 USDJPY - Daily

GOLD: exited yesterday with +1085 pips profit. Today's inside doji will most probably cause a retracement. We are not prepared to Short here though. Anyone wanting to bet on a retracement is advised to go in for 1/2 Risk.
Technical Recommendation: Re-assessing.
                                                               XAUUSD - Daily

► SP500: as discussed in yesterday's report, today we decided to exit the Long trade around break/even (actually a tiny loss) as price looked like heading further south intraday. In fact the day ends in an inside doji as price again finds buyers around 1835. Still undecided as a market so we go away and re-assess, with a view to re-enter Long at the first opportunity.
Technical Recommendation: We are now Flat. Re-assessing.
                                                               SP500 - Daily


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