Daily Report - 29 March 2016

End of Day Technical Analysis Report for:

, GOLD, and SP500

► EUR/USD: price has rotated to the uspide once again as we had envisaged and discussed in our Weekly STTS video. We didn't go Long today as we bought Sterling instead but we hope some of our readers did. The top of the sideways channel shown in the weekly chart should be reached soon.
Technical Recommendation:Waiting for an upward rotation.
                                                                 EURUSD - Daily
                                                              EURUSD - Weekly

GBP/USD: as price bounced off 1.4055 last week and confirmed yesterday, we went Long this morning on a signal in the 1 hr time frame. Price looks set to hit our 1st target at the top of teh recent range and hopefully carry on towards our 2nd target, best seen in the Weekly chart.
Technical Recommendation: We are Long. Position +126 pips in profit
                                                             GBPUSD - Daily
                                                           GBPUSD - Weekly

► AUD/USD: this pair has respected the 20 sma and middle Bollinger line. We are still Long and today price went above our in-cost again. Hopefully we will now get an upward breakout towards out targets, best seen in the Weekly Chart.
Technical Recommendation: We are Long. Position +72 pips in profit.
                                                                 AUDUSD - Daily
                                                               AUDUSD - Weekly
                           Back to Top

► USDJPY: price back inot the middle of the range traded for most of the last 2 months. We favour the upside but struggling to see buying signals.
Technical Recommendation: Stand aside. Slight preference to the upside.
                                                                 USDJPY - Daily

GOLD:  our recent short gave back some of its gains today as price surged, bouncing off dynamic 50 sma support. We still feel there is much more to go so we remain Short. We would only change our mind on a daily close above 1263 again.
Technical Recommendation: We are Short. Position +131 pips in profit.
                                                               XAUUSD - Daily
                                                             XAUUSD - Weekly

► SP500: we were right to not panic last week as price attampted to retrace. Friday's pin bar respecting the 20 sma and closing above the 8ema once again was the reason for staying in. Today we saw recent highs re-tested and looks good for this trade. Our target remains the Double Bottom mathematical target which is 2086.
Technical Recommendation: We are Long. Position +283 pips in profit.
                                                               SP500 - Daily
                                                             SP500 - Weekly


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