Daily Report - 21 March 2016


End of Day Technical Analysis Report for:

EURUSD, GBPUSD, AUDUSD, USDJPY
, GOLD, and SP500



► EUR/USD: having missed the Limit Buy order we issued last Wednesday, we are glad we're seeing a pull back to the 8 ema around the 1.1210 level. This area of confluent support should cause the market to resume to the upside as price is  likely to reach the top of the channel (see Weekly Chart) even if key resistance has caused a momentary stall.
Technical Recommendation: Look for upward resumption at 8 ema support.
                                                                 EURUSD - Daily
                                                               EURUSD - Weekly

GBP/USD: Similarly to the Euro, price today pulled bacl to the 8 ema and 1.4370 support. We expect an upward resumption from here, given the massive weekly bullish pin bar from last week.
Technical Recommendation: We are Long. Position +132 pips in profit.
                                                             GBPUSD - Daily
                                                           GBPUSD - Weekly

► AUD/USD: carbon copy of the previous 2 pairs. Today a pull back to th e8 ema and our incost. We expect an upward resumption so we will remain Long.
Technical Recommendation: We are Long. Position just above Break Even.
                                                                 AUDUSD - Daily
                                                               AUDUSD - Weekly
                           Back to Top

► USDJPY: the potential Double Bottom is no more. Price today bounced off 111.35 support but will meet with the 8 ema at 112.23, an area where we may get more selling.
Technical Recommendation: Market at critical support. Re-assessing.
                                                                 USDJPY - Daily

GOLD:  we were looking for bearish confirmation and today we got it so we are ready to go Short on a retracement tomorrow.
Technical Recommendation: Looking to go Short.
                                                               XAUUSD - Daily

► SP500: we went Long last Wednesday, as price respected the 8 ema as dynamic support. Our target is the Double Bottom mathematical target which is 2086. Today the market edged closer by closing at 2051.
Technical Recommendation: We are Long. Position +230 pips in profit.
                                                               SP500 - Daily
                                                             SP500 - Weekly

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