Weekly Bonus Technicals 17 April 2016


Weekly Bonus Analysis Video on EURUSD, AUDUSD, SP500 and GOLD ( 7 min  07  sec)
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Hello everybody welcome to our weekly bonus analysis video.
I'm Stef Breschi and today is Sunday, the 17th of April 2016
Today we cover 4 markets we currently have positions in … the EURUSD and AUDUSD currency pairs … the SP500 and GOLD.
EURUSD
We had been looking at the top of the channel for opportunities to go Short and we did so last week. Looking at the daily chart we can see after Wednesday’s drop we are now enjoying an unrealized profit of around 90 pips and we are well on the way to our targets which coincide with the recent swing lows.
AUDUSD
Weekly Chart. We went Long back in mid-March at 0.7560 as we identified prior resistance acting as support. Price has been chopping around above our in-cost making us suffer a bit but after last week’s breakout of recent highs … we hope the momentum will be such as to break mild 0.7720 resistance and head towards our targets which coincide with Swing Highs in the Daily Chart! So happy to be Long and currently enjoying an unrealized profit of more than 150 pips.
SP500
Daily chart. Having made already money as this long standing Double bottom played out … our most recent Long at 2028 finally hit the double bottom target on Thursday at 2086. However we are still Long as we revised our target to 2100, which is a level of prior resistance dating back to the end of last year. So we are still long with an unrealized profit of 530 pips and looking for more.
XAUUSD
Gold has been chopping around quite violently recently after the big surge from 1050$.
We have been Short since 22nd March expecting the market to correct.  Last week though price did get back above our in-cost but luckily we have been saying that we would only get out of our Short if price had closed above 1263 which did not happen. So late last week price resumed to the downside and we are now back in profit of ca 210 pips and if 1210 secondary support can be broken next week we should see price resume towards our target which is the 50% Fib level of the prior surge.
The Daily charts shows that the recent 2 month consolidation is now looking like a potential Head & Shoulders reversal pattern ..with very wide shoulders! If this triggers next week our targets are very likely to be reached and in fact we may even revise our target to lower levels such as the 200 day average or maybe even the 1130-1140 area. So we may in fact revise our targets next week.
 
Thank you for watching please take a look at our subscription service STTS which stands for short term trade setups which covers all the major currencies and other markets which we are likely to be trading
come and find us on www.tff-onlinetrading.com/market analysis
have a great week

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