Daily Report - 8 March 2016

End of Day Technical Analysis Report for:


GOLD, and SP500

► EUR/USD: as we said yesterday, recent price action suggested an upside break above confluent resistance was more likely, so today we reacted to a signal in the smaller time frames and went Long. The pair ends the day with a pin bar at key conflent resistance which contradicts yesterday's bullish candle so we are left with the 8 ema as a guide. We are Long and slightly under water but we may see the 8 ema and 1.0985 acting as support tomorrow so we will remain Long unless we get a close below these 2 markers.
Technical Recommendation: We are Long. Position -28 pips underwater.
                                                                 EURUSD - Daily

GBP/USD: today's action still closing above the 8 ema, but so far the 50 sma and 1.4240 have acted as resistance. A furrther retracement is now likely.
Technical Recommendation: Looking to go Long again on a pull back.
                                                             GBPUSD - Daily

► AUD/USD: an inside candle at the 0.7440 significant level in the Aussie today. We still hope to see a decent pull back to buy into.
Technical Recommendation: Looking to go Long on a pull back.
                                                                 AUDUSD - Daily
                           Back to Top

► USDJPY: today the 8 ema and 20 sma failed as support and prcie closed substantially below them, comning close to our in-cost. We had remained Long looking for the Double Bottom to trigger and play out. It might still happen but we may choose to close our Long and wait for another opportunity.
Technical Recommendation: We are Long. Position +30 pips in profit.
                                                                 USDJPY - Daily

► EURGBP:  we remain STTS Short from last week. See the Weekly Bonus Video for our analysis. Today's pin bar testing both the 8 ema and 20 sma bodes very well for our trade. We hope to see 0.7700 support broken in the next couple of sessions.
Technical Recommendation: We are Short. Position +18 pips in Profit.
                                                               EURGBP - Daily

GOLD:  we went Long again yesterday. Today looked like price was going to break to the uspide again but came back and closed below 1263 significant level. Our position may come under pressure tomorrow as we have a tight stop in place. We hope the 8 ema will act as resistance.
Technical Recommendation: We are Long. Position slightly underwater.
                                                               XAUUSD - Daily

► SP500: we're glad we took 580 pips profit on 70% of our Long position as today we got a hefty retracement. We remain partially Long and may add to it if we see an upward rotation.
Technical Recommendation: Still Partially Long and +480 pips in profit.
                                                               SP500 - Daily


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