Daily Report - 7 April 2016


End of Day Technical Analysis Report for:

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



► EUR/USD: price still above the 8 ema and 1.1335. We have been expecting price to test the top of the medium term sideways channel as seen in the weekly chart, between 1.1485 and 1.1500, but this repeated indecision at these levels could be the prelude to a substantial move down. Recommend to take profit if Long. We will stand aside for now but will consider goingshort if we get any bearish confirmation.
Technical Recommendation: Market stalling. Stand aside.
                                                                 EURUSD - Daily
                                                              EURUSD - Weekly

GBP/USD: the bullish effect of yesterday's pin bar at support was all but erased by today's bear candle. Price did syop at 1.4052 support once more though, so tomorrow we will see if thsi horizontal support holds or not. We think it is now most likely we will see price at 1.3850 before long.
Technical Recommendation: Looking at Shorting opportunities.
                                                               GBPUSD - Daily

► AUD/USD: Our Long went under water again today. Price is now at 0.7500 support and is meeting with the bottom Bollinger Band. We hope 0.7500 will hold.
Technical Recommendation: We are Long. Position -60 pips under water.
                                                                 AUDUSD - Daily
                                                               AUDUSD - Weekly
                           Back to Top

► USDJPY: further collapse today. This is one fo those trends which we try to wait for a pull back that never comes!  The next support is way down to 105.00-105.30. We are now looking to Sell on retracements, if we get any!
Technical Recommendation: Looking for Sell signals.
                                                                 USDJPY - Daily
                                                              USDJPY - Monthly

GOLD:  confluent resistance at the 20/50 smas and 1230 has failed. Price surged above it today which does not bode well for our Long, even if we're still in profit. Looking at the weekly chart, price is still inside last week's pin bar range so ... we may still see a downward resumtion. If we close the week above it we will consider covering the Short.
Technical Recommendation: We are Short. Position +155 pips in profit.
                                                               XAUUSD - Daily
                                                             XAUUSD - Weekly

► SP500: a strong push down today, brings us almost back to out in-cost. We have been Long for a while, confident that price would resume to the upside and hit our target this week . That now looks unlikely. Tomorrow we will consider getting out fo this position if we see further downside is likely.
Technical Recommendation: We are Long. Position +135 pips in profit.
                                                               SP500 - Daily
                                                             SP500 - Weekly

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