Daily Report - 29 February 2016

End of Day Technical Analysis Report for:

GOLD, and SP500

► EUR/USD: after Friday's close below 1.0970 we were looking to go Short today on a pull back to re-test 1.0970 but unfortunately the market didn't quite get there so we didn't get involved. We see the market reaching 1.0780 support next so we will still consider Shorting on any retracement provided there's a decent R:R.
Technical Recommendation: Looking to Short on a retracement.
                                                                 EURUSD - Daily

GBP/USD: we are technically bearish looking to go Short on any retracemen with next significant support at 1.3600-1.3650 area. Our Fundamental team are bullish. They may well be correct as price may do a violent reversal but we may see 1.3650 hit first on the downside.
Technical Recommendation: Looking to sell on pull backs.
                                                             GBPUSD - Daily

► AUD/USD: we're very frustrated with this pair. We had been Long for a while and in good profit and looked like last week we were finally going to hit our targets. Unfortunately heavy selling came in on Friday and price ended back to our in-cost. Friday’s bearish candle does point at likely further downside so today we exited the markt at break even and are now looking to go Short.
Technical Recommendation: Exited Long at B/E. Looking to go Short.
                                                                 AUDUSD - Daily
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► USDJPY: we are STTS Long. Even after today's retracement back to our in-cost we will remain Long. See yesterday's Weekly Bonus Video.
Technical Recommendation: We are Long. Position at B/E.
                                                                 USDJPY - Daily

GOLD: See yesterday's Weekly Bonus Video. Having made 110$ in recent uptrend, we are now looking to go Short on a pull back. Technically we expect the market to trade within the range 1250-1200. But as our Fundamental team is very bearish due to the bearish COT report, we think there may be bigger downside in the making
Technical Recommendation: Looking to Short.
                                                               XAUUSD - Daily

► SP500: See yesterday's Weekly Bonus Video.
Technical Recommendation: We are Long. Position at B/E.
                                                               SP500 - Daily


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