Daily Report - 20 April 2016

End of Day Technical Analysis Report for:

, GOLD, and SP500

► EUR/USD: we had been Short at 1.1370 and got out at Break Even yesterday as price looked like surging. We re-entered Short earlier today as price rotated to the downside, as discussed in yesterday's report.
Technical Recommendation: We ar Short. Position at B/E.
                                                                 EURUSD - Daily

GBP/USD: a small correction today. Price may well now attemt a re-test of recent 1.4514 top of the range. There could be a quick Long trade on the cards as long as the R:R is there!
Technical Recommendation: Possible quick Long trade.
                                                               GBPUSD - Daily

► AUD/USD: a spinning top doji today as the market takes a breather. Our Long position at 0.7560 still looking good. We are now half way to our ambitious targets.
Technical Recommendation: We are Long. Position +234 pips in profit.
                                                                 AUDUSD - Daily
                                                               AUDUSD - Weekly
                           Back to Top

► USDJPY: price today broke out of the range 107.90 to 109.35 and met with the falling 20 sma. We are still looking for a Shorting opportunity at confluent resistance with a target of 115.30. Maybe we'll get a signal tomorrow at these levels.
Technical Recommendation: Looking for Sell signals.
                                                                 USDJPY - Daily

GOLD:  having exited at Break even yesterday we are still looking for an opportunity to re-enter Short as we stll think Gold is in a possible 'wide' Head & Shoulder reversal pattern. Today's retracement is not yet sufficient.
Technical Recommendation: Looking to re-enter Short.
                                                               XAUUSD - Daily

► SP500: price today closed just above 2100 which is where we exited our trade yesterday. Price is now at key resistance area 2100-2133 so we will stand aside for a while.
Technical Recommendation: Exited at 2100 for +720 pips in profit. Re-assessing.
                                                               SP500 - Daily
                                                               SP500 - Weekly


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