Daily Report - 27 April 2016


End of Day Technical Analysis Report for:

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



► EUR/USD: a higher low/high combination today but 1.1335 holding as resistance. We still see last Thursday's pin bar as the operating bearish signal here. so we still maintain our Short position which today is showing a loss of around 0.3 x Risk.
Technical Recommendation: We ar Short.
                                                                 EURUSD - Daily
                                                              EURUSD - Weekly

GBP/USD: 1.4515 acted as support today. Our view has not changed ... we think it is likely we will se price continue to the upside at least to reach the 50 Fib at 1.4882.
Technical Recommendation: breakout of Key resistance. Looking for market to reach 50 Fib level.
                                                               GBPUSD - Daily
                                                             GBPUSD - Weekly

► AUD/USD: a major collapse today which wiped out all our profit we had sweated so long. We hope the 50 sma will now act as strong dynamic support. We are still  in profit but only by 40 pips or so.
Technical Recommendation: We are Long.
                                                                 AUDUSD - Daily
                                                               AUDUSD - Weekly
                           Back to Top

► USDJPY: as discussed in yesterday's report after the Bullish Morning Star formation in the weekly time frame we would be looking to go Long after yesterday's pin bar at 111.10 support. So go Long we did. Today price still met with dynamic resistance at the 50 sma but we closed with a small profit. We hope to see upside continuation tomorrow.
Technical Recommendation: Looking to go Long.
                                                                 USDJPY - Daily
                                                              USDJPY - Weekly

GOLD:  Gold still failing to follow through to the downside.  We still believe last week's weekly pin bar is a powerful bearish signal so we will remain Short.
Technical Recommendation: We are Short. Small profit.
                                                               XAUUSD - Daily
                                                            XAUUSD - Weekly

► SP500: we remain in re-assessing mode as price will undoubtedly attempt to break 2100 resistance one more time. We won't go Long here. Too much resistance in the area above.
Technical Recommendation: Stand aside.
                                                               SP500 - Daily
                                                              SP500 - Weekly

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