Daily Report - 31 March 2016

End of Day Technical Analysis Report for:

, GOLD, and SP500

► EUR/USD: 1.1335 broken today. We had it marked as minor resistance primarily because of the medium term channel in the weekly chart so as expected, this level was broken.  The market now, as we have been saying in all our recent commentaries and vdeos, is likely to reach the top of the sideways channel, which if it happens this week, will be around 1.1480.
Technical Recommendation: Look for market to reach top of channel.
                                                                 EURUSD - Daily
                                                              EURUSD - Weekly

GBP/USD: another stalling day but we are adamant price will resume to teh uspide and reach our target. So we remain hopeful of an upside continuation towards our targets.
Technical Recommendation: We are Long. Position +95 pips in profit
                                                             GBPUSD - Daily

► AUD/USD: a doji but still a close above 0.7650 resistance. We remain Long in expectation of upside continuation towards out targets, best seen in the Weekly Chart.
Technical Recommendation: We are Long. Position +120 pips in profit.
                                                                 AUDUSD - Daily
                                                               AUDUSD - Weekly
                           Back to Top

► USDJPY: nothing new to add! Price still in the middle of the range traded for most of the last 2 months. Nothing to do unless you're a day trader trading the range 111.35-114.44.
Technical Recommendation: Stand aside.
                                                                 USDJPY - Daily

GOLD:  today we got an inside candlke after yesterday's down day. The breakout of this inside candle formation will determine which way the market will go short term. As previously stated, we will remain Short unless the market closes above 1263.
Technical Recommendation: We are Short. Position +225 pips in profit.
                                                               XAUUSD - Daily
                                                             XAUUSD - Weekly

► SP500: still Long ... today a small doji. Interestingly enough there was no profit taking on the last day of Q1 whichj means the upside is likely to resume. We are now very close to our Double Bottom Target of 2086.
Technical Recommendation: We are Long. Position +314 pips in profit.
                                                               SP500 - Daily
                                                      SP500 - Weekly


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