Daily Report - 28 April 2016

End of Day Technical Analysis Report for:

, GOLD, and SP500

► EUR/USD: another higher low/high combination today with 1.1335 resistance being broken. Last Thursday's pin bar was the driver for us going Short and so far this week's action has gone against us in spectacular fashion.We still remain Short hoping for a downward rotation tomorrow but price is now getting closer to our Stop level.
Technical Recommendation: We ar Short.
                                                                 EURUSD - Daily
                                                              EURUSD - Weekly

GBP/USD: 1.4515 still acting as support today. Our view is still the same... 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: after yesterday's major collapse which wiped out all our profit we had sweated so long, we had hoped the 50 sma would act as strong dynamic support. It did today though price ends in an inside spinning top doji! We remain Long hoping for an upward rotation tomorrow.
Technical Recommendation: We are Long.
                                                                 AUDUSD - Daily
                                                               AUDUSD - Weekly
                           Back to Top

► USDJPY: We went Long as price seemed to meet with static support yeterday at 111.00. Today the market collapsed and stopped us out, in the largest daily fall in recent history. A typical case to justify using Stops! Price is now at Key 107.90 support once again.
Technical Recommendation:Stopped out! Re-assessing.
                                                                 USDJPY - Daily

GOLD:  Gold was very strong today.  Last week's weekly pin bar was a powerful bearish signal and made us go Short but today's surge nearly stopped us out! Our position is now perilously close to being stopped out.
Technical Recommendation: We are Short. Position under pressure.
                                                               XAUUSD - Daily
                                                            XAUUSD - Weekly

► SP500: 2100 resistance seems to have failed ... and although the 20 sma has momentarily halted today's fall, chances are we'll now see a deeper correction.
Technical Recommendation: Look for a further correction.
                                                               SP500 - Daily
                                                              SP500 - Weekly

► NIKKIE: although we are very Bullish on Nikkie, today's bear candle is one of the largest daily candles in recent history which does not bode well for this market Short term. We do however expect things to improve dramatically in the next couple of weeks.
Technical Recommendation: Stand aside.
                                                                   NIKKIE - Daily


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