Daily Report - 10 March 2016

End of Day Technical Analysis Report for:


GOLD, and SP500

► EUR/USD: huge volatility today followed by an upside breakout of key resistance band 1.0985-1.1040. Price now looks set to reach the top of the channels we have discussed before in the weekly chart.
Technical Recommendation: Look for price to test top of channel.
                                                                 EURUSD - Daily
                                                               EURUSD - Weekly

GBP/USD: a strong bounce off the ema layer closing above 1.4240 resistance. The 50 sma is still causing the market to pause. We favour an upside continuation.
Technical Recommendation: Looking to go Long again.
                                                             GBPUSD - Daily

► AUD/USD: the Aussie failed to gain againsgt the greenback today as price retreated back to 0.7440 which again acted as support.
Technical Recommendation: Looking to go Long on a pull back.
                                                                 AUDUSD - Daily
                           Back to Top

► USDJPY: we went Long again today convinced the market had made a Higher Low. Ubnfortunately in post data volatility, we got stopped out. Re-assessing!
Technical Recommendation: Went intraday Long. Stopped out for -135 pips loss.
                                                                 USDJPY - Daily

► EURGBP:  our STTS Short from last week was doing reat today pre ECB conference but we shoudl have finallhy moved our Stop to Break Even. The market surged dramatically and almost stopped us out. We're still in by a couple of pips.
Technical Recommendation: We are Short. Position close to our Stop.
                                                               EURGBP - Daily

GOLD:  as promised yesterday we Shorted today intraday. It looked like a great trade for a while, but the ECB events and US data stopped us out. we went Long again yesterday  and took the position off earlier today as price came under pressure taking a reduced loss. Lucky we did as we would have been stopped out for a full risk loss. Now we turn our attention to a possible Short.
Technical Recommendation: Went Short and got stopped out for -80 pips. Re-assessing.
                                                               XAUUSD - Daily

► SP500: in the general marjket mayhem today we exited the remainder of our Long position. With the day ending in a massive doji, we prefer to be out of this market for now.
Technical Recommendation: Full exit for +526 pips profit (1.45 x Risk).
                                                               SP500 - Daily


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