Daily Report - 16 June 2016


End of Day Technical Analysis Report for:

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



► EUR/USD: a very large pin bar today at 1.1215 support could mean a bounce coming. But we believe market still stuck in long term sideways channel and looks headed for further downside as clearly shown in the Weekly chart. 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. So any further retracement could be a selling opportunity.
Technical Recommendation: looking to go Short.
                                                                EURUSD - Daily
                                                              EURUSD - Weekly

GBP/USD: we thought price was likely to test 1.4000 and today it did only to bounce very strongly posting a very large daily pin bar at this key level so we are no Longer advocating a Short but instead a short term Long trade could be on the cards.
Technical Recommendation: Look for a bounce off 1.4000.
                                                               GBPUSD - Daily
                                                             GBPUSD - Weekly

AUD/USD: a strong respect of 200 sma and 20 sma today as price closed well off the lows. The fight at 0.7380 is getting tough. Right now we are getting conflicting signals so we go into Stand Aside mode.
Technical Recommendation: Stand aside.
                                                                 AUDUSD - Daily
                                                               AUDUSD - Weekly
                           Back to Top

► USDJPY: 105.00 support failed miserably today as the downtrend resumed. We thought we might see a bounce but we didn't get one. Now we should be looking for Shorting opportunities on any pull back.
Technical Recommendation: Looking to go Short.
                                                                 USDJPY - Daily
                                                              USDJPY - Weekly

GOLD: we have been advocating a re test of 1300$ resistance. And recommended that Longs shoudl take some profit there. Today 1300 was indeed tested and met with strong selling. This is a good short term selling opportunity
Technical Recommendation: Look to go Short!
                                                               XAUUSD - Daily
                                                            XAUUSD - Weekly

► SP500: today's bullish pin bar comes after yesterday's bearish one. So a conflict of signals here. Best to stand asider.
Technical Recommendation: Stand aside.
                                                               SP500 - Daily
                                                            SP500 - Weekly

CHECK OUR INTERACTIVE ECONOMIC CALENDAR FOR UPCOMING WORLDWIDE DATA RELEASES

DISCLAIMER
The information contained in this publication is not intended as an offer or solicitation for the purchase or sale of any financial instrument. Users acknowledge and agree to the fact that, by its very nature, any investment in CFDs and similar and assimilated products is characterised by a certain degree of uncertainty and that, consequently, any investment of this nature involves risks for which the user is solely responsible and liable.
Any recommendation, opinion or advice contained in such material reflects the views of TFF, and TFF expressly disclaims any responsibility for any decisions or for the suitability of any security or transaction based on it. Specifically, any decisions you may make to buy, sell or hold a security based on such research will be entirely your own and not in any way deemed to be endorsed or influenced by or attributed to TFF.
Past performance should not be seen as an indication of future performance. Market and exchange rate movements may cause the value of your investment to rise or fall and an investor may not get back the amount invested.
Investors considering opening a self-trading account should limit their exposure to maximum 10% of their investment capital.
Investments are not obligations of, deposits in, insured or guaranteed by TFF.