Daily Report - 19 May 2016


End of Day Technical Analysis Report for:

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



► EUR/USD: a break and close below minor support 1.1215 today should mean further downside to come. Anyone not yet short should look to go Short on any retracement.
Technical Recommendation: Should be Short or looking to go Short on retracement.
                                                                EURUSD - Daily
                                                              EURUSD - Weekly

GBP/USD: yesterday's surge met with confluent resistance at the 200 sma and 1.46675, resulting in a pin bar. A reversal is entirely possible.
Technical Recommendation: Possible reversal at confluent resistance.
                                                               GBPUSD - Daily
                                                             GBPUSD - Weekly

► AUD/USD: downtrend continues but today's pin bar may well be the pre-cursor to a pull back.
Technical Recommendation: Should be Short or looking to go Short on retracement.
                                                                 AUDUSD - Daily
                                                               AUDUSD - Weekly
                           Back to Top

► USDJPY: a pause today with a spinning top doji after yesterday's close above the 50 sma.  We expect further upside in next few sessions. Next resistance is 111.80.
Technical Recommendation: Look for market to reach 111.80 again.
                                                                 USDJPY - Daily
                                                              USDJPY - Weekly

GOLD:  after yesterday's collapse earlier today we went SHort. The trade was looking very good at one point but since then we have seen buying coming in to form a pin bar at 50 sma support. Let's see what tomorrow brings.
Technical Recommendation: We are Short. Position at B/E.
                                                               XAUUSD - Daily
                                                            XAUUSD - Weekly

► SP500: a daily pin cadle at 2035 key support means the potential Head & Shoulders reversal pattern has not triggered! Looking for a clearer signal.
Technical Recommendation: Stand aside with an eye on the H&S pattern.
                                                               SP500 - Daily
                                                              SP500 - Weekly

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