Daily Report - 15 March 2016

End of Day Technical Analysis Report for:


GOLD, and SP500

► EUR/USD: as said yeterday, we expect this pair to retrace to 1.1040 where a  Long trade could be possible with the top of the sideways channel (weekly chart) as target. Today price respected the 8 ema by closing above it but we think the retracement has more to go.
Technical Recommendation: Looking to go Long and for price to test top of channel.
                                                                 EURUSD - Daily
                                                               EURUSD - Weekly

GBP/USD: we expected price to retrace to the 50 sma and 1.4240 but in fact today price tanked on no news. Pre-budget jitters no doubt. Now price looks set to test the 20 sma and mid-Bollinger and even 1.4080.
Technical Recommendation: Looking to go Long again.
                                                             GBPUSD - Daily

► AUD/USD: we are still hoping for a pull back to the 0.7385-0.7440 area of suppor where we'd like to see a Buy signal. Today's candle closing below the 8 ema suggests we are likely to see this retracement.
Technical Recommendation: Looking to go Long on a pull back.
                                                                 AUDUSD - Daily
                                                             AUDUSD - Weekly
                           Back to Top

► USDJPY: price still stuck in 112.15-114.40 range. Still looking to go Long with the Double Bottom target in mind which is 118.72.
Technical Recommendation: Looking to go Long again.
                                                                 USDJPY - Daily

► EURGBP:  as Sterling tanked today on no news, our STTS Short was stopped out. We are now re-assessing.
Technical Recommendation: Stopped out. Re-assessing..
                                                               EURGBP - Daily

GOLD:  with the Rising Wedge bearish reversal pattern triggering yesterday we had hoped for a pull back at the 23.6 Fib level for us to sell into. The market did pause and bounced slightly at this level. We hope for an even bigger bounce tomorrow to sell near the 8 ema.
Technical Recommendation: Looking to go Short.
                                                               XAUUSD - Daily

► SP500: as discussed over the weekend, this week we are looking at going Long again hopefully on a slight pull back with a Stop below Thursday’s doji low. Today price respected 8 ema support 2000-2010 area. We may look to go Long.
Technical Recommendation: Looking to go Long again.
                                                               SP500 - Daily


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