Daily Report - 4 May 2016


End of Day Technical Analysis Report for:

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



► EUR/USD: a bearish confirmation to yesterday's large daily pin bar inside a key Ara of resistance which is 1.1461.1715 as shown by the weekly chart. We still think a retracement back to 1.1410 is likely. If the market gets there we'll see if we get any signs of an upward rotation.
Technical Recommendation: Look for a retracement to 1.1410.
                                                                 EURUSD - Daily
                                                              EURUSD - Weekly

GBP/USD: price continued to the downside today after meeting with confluent resistance at the 38.2 Fib level, 1.4580 signifcant level and the 200 sma yesterday.... price has now entered band of support 1.4460-1.4515 with the rising 20 sma just below. Tomorrow we will see if thi area acts as support in which case a Long trade might be on the cards.
Technical Recommendation: Price at key confluent support.
                                                               GBPUSD - Daily
                                                             GBPUSD - Weekly

► AUD/USD: another bear candle today after yesterday's collpase now below 0.7500 support. We are still Long and likely to get stopped out overnight!
Technical Recommendation: We are Long. Position under pressure.
                                                                 AUDUSD - Daily
                                                               AUDUSD - Weekly
                           Back to Top

► USDJPY: an inside doji today following yesterday's smallish pin bar bouncing off the lower Bollinger band in the daily chart  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 but today's bearish daily confirmation ends the day in a pin bar at 5ema dynamic support. We still maintain 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 and made a lower/low and lower/high combination. As we said yesterday, 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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