Daily Report - 17 February 2016


End of Day Technical Analysis Report for:

EURUSD, GBPUSD, AUDUSD, USDJPY
GOLD, and SP500



► EUR/USD: another doji with a slightly lower low made. We still 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: a doji today edging closer to the more significant 1.4230 level of support. We will stand aside until we see how price reacts to this level if it gets there.
Technical Recommendation: Look for price to meet with support at 1.4230.
                                                             GBPUSD - Daily

► AUD/USD: yesterday we identified that this pair was at confluent dynamic support in multiple time frames. We were looking for a signal for direction and earlier today we went Long with our STTS subscribers in this pair as the 1 hr time frame gave us a signal for a likely surge which happened shortly after. We remain Long now looking for a move towards 0.7300.
Technical Recommendation: We are Long. Position +58 pips in profit.
                                                                 AUDUSD - Daily
                           Back to Top

► USDJPY: we've been saying this pair is likely to retrace to 115.56-116.12 band of resistance where we hope to get a Sell signal. After yesterday's NY close we got a Buy signal in the 1 hr time frame so we attempted a quick Long trade and we were sadly stopped out just on the low of today as we had quite a tight stop.  We still think there is to be upside before downside but the 8 ema is proving quite a strong dynamic resistance.
Technical Recommendation: Stopped out. Re-assessing.
                                                                 USDJPY - Daily

GOLD: as we have been saying, 1200 is proving fairly strong as support together with the 8 ema. Today's candle is a Bull Sash pattern which may be the Buy signal we have been waiting for to re-enter Long after our very successful Bull trade of late. We will look for confirmation in the shorter time frames.
Technical Recommendation: Looking to go Long.
                                                               XAUUSD - Daily

► SP500: yesterday we daid the index looked set to make a push towards recent swing high of 1945 which is also the peak of a 'potential' wide Double Bottom and suggested that a quick Long with this as target would be a good idea. We didn't take a position ourselves but we know some of our readers did and they are now enjoying a the result of today's 325 pips surge. Anyone Long should consider taking some money off the table at 1945 and trail a stop on the remainder.
Technical Recommendation: If Long take some profit at 1945 and run the remainder.
                                                               SP500 - Daily

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