Daily Report - 3 May 2016


End of Day Technical Analysis Report for:

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



► EUR/USD: Price today formed a large daily pin bar although this doesn;t happen at key resistance, it happens inside a key Ara of resistance which is 1.1461.1715 as shown by the weekly chart. A retracement back to 1.1410 is likely
Technical Recommendation: Look for a retracement to 1.1410.
                                                                 EURUSD - Daily
                                                              EURUSD - Weekly

GBP/USD: the 38.2 Fib level, 1.4580 signifcant level and the 200 sma have acted as confluent resistance... we now think it is unlikely we will se price continue to reach the 50 Fib at 1.4882. A downside rotation from here is the more likely event.
Technical Recommendation: Look for market to rotate downwards.
                                                               GBPUSD - Daily
                                                             GBPUSD - Weekly

► AUD/USD: a total collpase today in this pair as price went through our in-cost and closed below 0.7500 support. We are about half way to our Stop now havving been in the green for so long.
Technical Recommendation: We are Long. Position under pressure.
                                                                 AUDUSD - Daily
                                                               AUDUSD - Weekly
                           Back to Top

► USDJPY: a smallish pin bar today bouncing off the lower Bollinger band in the daily chart bit not quite testing 115.30 support. We may see a pull back but the underlying tone remains bearish.
Technical Recommendation: Looking for a Sell signal on a pull-back.
                                                                 USDJPY - Daily
                                                               USDJPY - Weekly

GOLD:  1300$ has acted as key resistance after today's bearish daily confirmation. We should see a correction from here. Our Fundamental team remain Super-Bearish.
Technical Recommendation: Looking to go Short again.
                                                               XAUUSD - Daily
                                                            XAUUSD - Weekly

► SP500: price has pulled back decisively from 2100 resistance. Having made very good money on the recent rally ...we are forced to remain sidelined as we expect choppy times ahead.
Technical Recommendation: Stand aside.
                                                               SP500 - Daily
                                                              SP500 - Weekly

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