Daily Report - 21 April 2016

End of Day Technical Analysis Report for:

, GOLD, and SP500

► EUR/USD: we re-entered Short yesterday and sadly got stopped out in today's volatility, but as price then collapsed off the highs, leaving us with a long wicked pin bar, we entered Short again!
Technical Recommendation: Stopped out of yesterday's trade. We ar Short again!
                                                                 EURUSD - Daily

GBP/USD: we were looking for a re-test of recent 1.4514 top of the range. Luckily we did not go Long as today ended in a bearish pin bar. Traders shoudl be Shortthough we are unlikely to do so as we have other psoitions.
Technical Recommendation: Pin bar at resistance. Look for a downward correction.
                                                               GBPUSD - Daily

► AUD/USD: today we got a bearish confirmation to yesterday's spinning top doji but as teh weekly chart shows, we are still bullish on this pair so we hope the EMA layer and 0.7670-0.7720 band of support will cause the market to resume to the upside.
Technical Recommendation: We are Long. Position +178 pips in profit.
                                                                 AUDUSD - Daily
                                                               AUDUSD - Weekly
                           Back to Top

► USDJPY: the falling 20 sma causede the market to pull back a little today. We were looking for a Shorting opportunity at confluent resistance with a target of 115.30. Today we got a signal in teh shorter time frames which made us go Short. Price did not follow through so hopefully it will do so overnight.
Technical Recommendation: We are Short.
                                                                 USDJPY - Daily

GOLD:  we were looking for an opportunity to re-enter Short as we stll think Gold is in a possible 'wide' Head & Shoulder reversal pattern. Today's long wicked pin bar gave us that opportunity so we re-entered Short at 1250.
Technical Recommendation: We are Short.
                                                               XAUUSD - Daily

► SP500: a bearish engulfing candle at key 2100 resistance today. This makes for a likely correction but first the 8 ema needs ot be broken.
Technical Recommendation: Likely correction
                                                               SP500 - Daily


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