Daily Report - 5 April 2016

End of Day Technical Analysis Report for:

, GOLD, and SP500

► EUR/USD: another long tailed doji today as price remains above the 8 ema. Our view has not changed ..we expect price to test the top of teh medimu term sideways channel as seen in the weekly chart, between 1.1485 and 1.1500!
Technical Recommendation: Look for market to reach top of channel.
                                                                 EURUSD - Daily
                                                              EURUSD - Weekly

GBP/USD: Sterling is under pressure once more. We're glad we took our profut last week! The weekly chart shows how price is stuck inside the range of the pin bar from 4 weeks ago. Last week as also an inside pin bar with a very long wick. Thsio does point at a likely breakdown of this pair. If the bottom of the mother candle is broken (shown as 1.4052 in the daily chart below) we will almost definitely see a re-test of 1.3850 support.
Technical Recommendation: Looking at Shorting opportunities.
                                                             GBPUSD - Weekly
                                                             GBPUSD - Daily

► AUD/USD: we are still Long the Aussie and today saw price close below the 20 sma and our in-cost once again. Looking at the weekly chart, we still maintain that price is likely to resume to the upside, so we will remain Long and hopefully won't get stopped out! Our Stop is till far away!
Technical Recommendation: We are Long. Position -17 pips.
                                                                 AUDUSD - Daily
                                                               AUDUSD - Weekly
                           Back to Top

► USDJPY: we were looking for Buy signals at key 111.00 support ...well today price convincingly broke through it and as the monthly chart shows, the next support is way down to 105.00-105.30. We will now be looking to Sell on retracements.
Technical Recommendation: Looking for Buy signal at Key Support.
                                                                 USDJPY - Daily
                                                              USDJPY - Monthly

GOLD:  price back at 1230 resistance which is confluent with the 20/50 smas. We hope thsi resistance will cause the market to resume to the downside, which is certainly supported by the weekly pin bar from last week showing market propensity to fall further.
Technical Recommendation: We are Short. Position +250 pips in profit.
                                                               XAUUSD - Daily
                                                             XAUUSD - Weekly

► SP500: we have been Long for a while and having got so close to our target at yesterday's highs it is a shame to see the market fall today and close below the 8 ema. Luckily the 20 sma is still holding as dynamic support.  We are confident price will resume to teh upside and hit our target this week ..hopefully without stopping us out! Our STop is still very far away so we're happy to stay Long.
Technical Recommendation: We are Long. Position +200 pips in profit.
                                                               SP500 - Daily
                                                             SP500 - Weekly


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