Daily Report - 16 March 2016

End of Day Technical Analysis Report for:

, GOLD, and SP500

► EUR/USD: today price almost reached the bunched up moving averages and bounced strongly post FOMC. We could not get involved intraday as teh market moved too fast for us but after today's strong daily cnadle we have issued an STTS buy signal on a small retracement. Hopefully we will get filled. Our 1st target, as we have been discussing of late, is the top of the sideways channel (weekly chart).
Technical Recommendation: Have a Limit Buy order on a small retracemento to today's candle.
                                                                 EURUSD - Daily
                                                               EURUSD - Weekly

GBP/USD: price today tested the 20 sma and 1.4080, as we predicted yesterday and bounce back strongly. We have been looking to go Long again so we are entering the market with a 3 entry strategy. 1st entry was triggered and we have placed 2 more Limit Buy orders at strategic levels which hopefully will get filled on a retracement overnight.
Technical Recommendation: Going Long.
                                                             GBPUSD - Daily
                                                             GBPUSD - 1 hr

► AUD/USD: the 0.7385-0.7440 area acted as strong support and price has bounced strongly off it. We have therefore gone Long as we have been saying. We have ambitious targets as seen in the weekly chart.
Technical Recommendation: We are Long.
                                                                 AUDUSD - Daily
                                                               AUDUSD - Weekly
                           Back to Top

► USDJPY: price still stuck in 112.20-114.40 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

GOLD:  we posted an article on Gold earlier today explaining how we were going to look for Sell signals on  a pull back to the the Rising Wedgelower trendline. In teh end price came back into the pattern body without showing any signs of rotating to the downside again so we have stayed out. A sprice now seems stuck between 1263 and the 23.6 Fib level, we will wait to see what happens next. We still favour a Short, though the Wedge has failed.
Technical Recommendation: Looking to go Short.
                                                               XAUUSD - Daily

► SP500: as discussed over the weekend, this week we were looking at going Long again and today we have, as price respected the 8 ema as dynamic support. Our target is the Double Bottom mathematical target.
Technical Recommendation: We are Long.
                                                               SP500 - Daily


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