Daily Report - 16 February 2016


End of Day Technical Analysis Report for:

EURUSD, GBPUSD, AUDUSD, USDJPY
GOLD, and SP500



► EUR/USD: a doji day today which does not change our view. We can see price re-testing the band 1.0970-1.1100 which should act as support. We will look for a Buy signal in this area.
Technical Recommendation: Price to re-test 1.0970-1.1100 area.
                                                                 EURUSD - Daily

GBP/USD: price breaks out of recent range. We said we expected price to re-test the 20 sma and 1.4350 again this week. In fact price broke thsi support very easily and now looks set to reach the more significant 1.4230 level.
Technical Recommendation: Look for price to meet with support at 1.4230..
                                                             GBPUSD - Daily

► AUD/USD: we said we may see a push towards 0.7220 but today makes it less likely, though so far the 8 ema is still acting as dynamic support together with the 50 sma. Price also a key support on the shorter time frames so we will see what happens here, so we stand aside for now.
Technical Recommendation: Price at confluent dynamic support in multiple time frames.
                                                                 AUDUSD - Daily
                           Back to Top

► USDJPY: 8 ema acting as dynami resistance but we still think this pair is retracing to 115.56-116.12 band of resistance where we hope to get a Sell signal.
Technical Recommendation: Looking for a Sell signal in the 115.56-116.12 area.
                                                                 USDJPY - Daily

GOLD: entering the 1180-1200 area on a pull back as we expected. We do think this area will act as support. Hopefully we will get a Buy signal. Nothing yet.
Technical Recommendation: Looking for a Buy signal inside 1180-1200.
                                                               XAUUSD - Daily

► SP500: a pin bar today respecting 8 ema support and pulling away from the gap formed at the Monday open. We hoped to see a proper re-test of the gap but we may not get it. Price looks set to make a push towards recent swing high of 1945 which is also the peak of a 'potential' wide Double Bottom. So a quick Long with this as target would be a good idea.
Technical Recommendation: Possible push towards 1945.
                                                               SP500 - Daily

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