Daily Report - 22 February 2016


End of Day Technical Analysis Report for:

EURUSD, GBPUSD, AUDUSD, USDJPY
GOLD, and SP500



► EUR/USD: 1.1100 and the 20 sma failed today to support the market. Price looks set to now test 1.0970 and the 50 sma. This shoudl be a much stronger support and likely to cause a bounce when we get there.
Technical Recommendation: Look for 1.0970 key support to be tested.
                                                                 EURUSD - Daily

GBP/USD: a gap down at the open which caused a big sell off. We have stayed out. 1.4079 was prior support and also acted as such today. What price does here is critical. If price continues to fall, the next support level is down at 1.3600!
Technical Recommendation: Stand aside.
                                                             GBPUSD - Daily

► AUD/USD: an upward push in the Aussie today which is good news for our STTS Long position. The market paused at 0.7220 resistance but did not sell off so we hope to see an upside breakout this week to take us to our targets.
Technical Recommendation: We are Long. Position +95 pips in profit.
                                                                 AUDUSD - Daily
                           Back to Top

► USDJPY: as discussed in yesterday's Weekly Bonus Video, we believe this market is likely to re-test prior support at 111.00 so we are looking this week for any opportunity to go Short.
Technical Recommendation: Looking to go Short.
                                                                 USDJPY - Daily

GOLD: we re-entered Long last week in 1/2 Risk after our very successful Bull trade of late. We caught the initial surge but since then price has retreated and after today's action we think it is likely to re-test 1180-1200 properly so we decided to exit our trade in the end with a tiny loss for 0.04 x Risk so we will classify it as a Break Even trade. We still feel there's a good chance price will rotate to the upside again in this area of support so we may go Long again but for now we will stand aside and re-assess.
Technical Recommendation: Exited Long at B/E. Re-assessing.
                                                               XAUUSD - Daily

► SP500: 1945 finally reached today as we had been expecting. Anyone Long should consider taking some money off the table here and trail a stop on the remainder. This market could show further upside.
Technical Recommendation: If Long take some profit and run the remainder.
                                                               SP500 - Daily

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