Daily Report - 14 June 2016


End of Day Technical Analysis Report for:

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



► EUR/USD: Market still stuck in long term sideways channel and looks headed for further downside as we had discussed in our last weekly video on 4th June. There will be support at 1.1100 but we could see the market even testing the bottom of the channel at 1.0500. So you should be Short or looking to go Short on any retracement.
Technical Recommendation: looking to go Short on retracement.
                                                                EURUSD - Daily
                                                              EURUSD - Weekly

GBP/USD: in our last video we had forecast a collapse which has happened in our absence. We did recommend being SHort so we hope some of our readers did so. Price is now at support above 1.4000 and if this level fails we might see further downside down to 1.3860. of course this market is dictated by the Brexit polls and movement either way could be quite violent so to anyone Short we would recommend taking some profit around the 1.0450 area.
Technical Recommendation: Should be Short. Look to take some profit.
                                                               GBPUSD - Daily
                                                             GBPUSD - Weekly

AUD/USD: market reacting early this week to last week's weekly pin bar at 0.7380 whioch acted as resistance. As we had said in the last report, a Shorting stance is preferred with possible targets 0.7025 or even 0.6830. So if not Short already readers should consider selling even at these levels.
Technical Recommendation: Should be Short.
                                                                 AUDUSD - Daily
                                                               AUDUSD - Weekly
                           Back to Top

► USDJPY: this pair is still in weekly decline and the downside has prevailed recently but has now met with support at 105.65. Anyone Short should in our opinion cover all or most of the position here and go into re-assessing mode to see how proice reacts to thsi key level as price could be stuck inside the 105.30-111.80 ranghe as shown by the weekly chart.
Technical Recommendation: Cover Short and re-assess.
                                                                 USDJPY - Daily
                                                              USDJPY - Weekly

GOLD:  we covered our Short for a smaller profit when price surged to 1240 2 weeks ago and lucky we did as price has since maintained upside momentum. In the final analysis strong support at 1200$ has inspired Longs. 1300$ resistance is sure to be re-tested so Longs shoudlconsider taking some moeny off the table there.
Technical Recommendation: Look for 1300$ level to be reached once again!
                                                               XAUUSD - Daily
                                                            XAUUSD - Weekly

► SP500: after last week's weekly pin bar at 2100 resistance, we think this market is now likely to be heading South possibly to re-test 2000. In our last report we did say to be looking for Shorting opportunities inside 2100-2110 resistance are and last week we got it so we hope some of our readers are Short
Technical Recommendation: Should be Short.
                                                               SP500 - Daily
                                                            SP500 - Weekly

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