Daily Report - 10 February 2016


End of Day Technical Analysis Report for:

EURUSD, GBPUSD, AUDUSD, NZDUSD
GOLD, and SP500



► EUR/USD: today we closed our Long at Break Even as the Euro came under pressure intraday, main reason being we were too exposed against the US Dollar. As it turns out it was the wrong move as price rallied and the day ends in a long tailed pin bar which is bullish. Traders should be Long, even though we are not. We have other plays going.
Technical Recommendation: Exited at Break Even. Should be Long.
                                                                 EURUSD - Daily

GBP/USD: We are still Long. Price today broke above Monday's high and closed higher. We expect an upside resumption and are looking for 1.4600 resistance to be broken.
Technical Recommendation: We are Long. Position +180 pips in profit.
                                                             GBPUSD - Daily

► AUD/USD: price contained between 0.7015/20sma support and 0.7125/50sma resistance. We do expect a breakout to the uspide but prefer to be Long in Sterling and Kiwi so we exited yesterday for a small profit and will stand aside. Glenn Stevens, the Governor of the Reserve Bank of Australia, speaks tomorrow after NY close so we don't expect much more movement until then.
Technical Recommendation: Standing aside. Preferece to the Long side.
                                                                 AUDUSD - Daily
                           Back to Top

► NZDUSD: yesterday we went Long in the Kiwi after a daily pin bar at dynamic and static support (8ema and 0.6565). Today price rallied. We hope to see price breaking through the 200 sma tomorrow and 0.6750 minor resistance.
Technical Recommendation: We are Long. Position +40 pips in profit
                                                                 NZDUSD - Daily

GOLD: yesterday's inside doji did not cause a retracement, yet. Today instead price closed strongly even though 1200$ is still posing resistance. As we said already, we've bagged $108.50 profit so we are happy to sit this out for a while and let the dust settle.
Technical Recommendation: Re-assessing.
                                                               XAUUSD - Daily

► SP500: a bearish pin bar today countering yesterday's. Both are still inside Monday's candle so ... indecision abounds. We may see the market attempting a new Low. We are not going to Short this market but rather look for an opportunioty to re-enter Long.
Technical Recommendation: Re-assessing.
                                                               SP500 - Daily

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