Daily Report - 26 May 2016

End of Day Technical Analysis Report for:

, GOLD, and SP500

► EUR/USD: a bigger retracement today meeting with confluent resistance at 1.1215 and the 8 ema.
Technical Recommendation: looking to go Short on retracement.
                                                                EURUSD - Daily
                                                              EURUSD - Weekly

GBP/USD: a small pull back today to re-test 1.46675 support and teh 200 sma. Price still looks likely to test the 50 Fib level around 1.4880.
Technical Recommendation: Look for price to reach 1.4880.
                                                               GBPUSD - Daily
                                                             GBPUSD - Weekly

AUD/USD: small retyracement today back to re-test 0.7235 and 8 ema resistance. Shorting stance is preferred with possible targets 0.7025 or even 0.6830.
Technical Recommendation: Should be Short or looking to go Short on retracement.
                                                                 AUDUSD - Daily
                                                               AUDUSD - Weekly
                           Back to Top

► USDJPY: this pair is stagnating at the 110.00 Level. Price looked set again to reach 111.80 resistance earlier in the week but now we're not so sure. The overall trend is still down so the 110.00 level may end up being a key level where we may see a dontrend resumption! The abundance of bearish candlesticks signals in teh daily chart speaks for itself.
Technical Recommendation: Price at Key level. Possible reversal and downtrend resumption!
                                                                 USDJPY - Daily
                                                              USDJPY - Weekly

GOLD:  further bearish continuationtoday, with a daily pin bar. Our Short is well on the way to target.
Technical Recommendation: We are Short. +370 pips so far!
                                                               XAUUSD - Daily
                                                            XAUUSD - Weekly

► SP500: and inside candle after yesterday's surge, but the positive close confirms our view that the market is now very likely re-test 2100-2110 as resistance.
Technical Recommendation: Look for 2100-2110 to be reached once more.
                                                               SP500 - Daily
                                                            SP500 - Weekly


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