Daily Report - 23 February 2016

End of Day Technical Analysis Report for:

GOLD, and SP500

► EUR/USD: we've been saying price looks set to now test 1.0970 and the 50 sma. Today we got a doji just above thsi event area. Maybe teh market will reach it tomorrow. We shoudl see a bounce if we get there.
Technical Recommendation: Look for 1.0970 key support to be tested.
                                                                 EURUSD - Daily

GBP/USD: 1.4079 was brutally broken today as this pair appears to be in free fall. The next support level is down at 1.3600! We can look for a pull back to resistance and any sell signals.
Technical Recommendation: Look to sell on pull backs.
                                                             GBPUSD - Daily

► AUD/USD: we are still STTS Long. 0.7220 acted as resistance again today but we will stay Long unless price closes below the 8 ema on a daily chart.
Technical Recommendation: We are Long. Position +72 pips in profit.
                                                                 AUDUSD - Daily
                           Back to Top

► USDJPY: 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. We were hoping for a pull back to the 8 ema which we did not get so we missed today's downside continuation. Space is running out as 111.00 is fast approaching so we may have missed out.
Technical Recommendation: Looking to go Short.
                                                                 USDJPY - Daily

GOLD: exited our Long yesterday at Break Even as we felt price was likely to test 1180 and stop us out. We were wrong so far. Today's candle does now point at an upside continuation so we will look at going Long again if we get the opportunity.
Technical Recommendation: Exited Long at B/E. Looking to re-enter.
                                                               XAUUSD - Daily

► SP500: 1945  has after all cause the market to retreat, for now. We have been suggesting to take some profit so we hope any longs out there have followed our advice. For teh remainder you shoudl stay Long unless the market closes below the 8 ema on the daily chart.
Technical Recommendation: Stay partially Long above the 8 ema.
                                                               SP500 - Daily


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