Daily Report - 21 June 2016


End of Day Technical Analysis Report for:

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



► EUR/USD: price chopping around below 1.1400. Yesterday's gap was closed today and price closed below  the averages. More downside is likely in teh next few sessions with 1.1100 support likely to be tested.
Technical Recommendation: look to go Short.
                                                                EURUSD - Daily
                                                              EURUSD - Weekly

GBP/USD: price today truly tested 1.4640-1.4750 key resistance and met with heavy selling. Short term this probably means Sterling has reached its peak until the Brexit referendum results. Day traders tomorrow would do well to be Short as price is likely to close yesterday's gap prior to the referendum, but be very nimble as it will get very volatile.
Technical Recommendation: Price failing at Key Resistance.
                                                               GBPUSD - Daily
                                                             GBPUSD - Weekly

AUD/USD: 0.7500 resistance was tested and price ends with a bearish pin bar at this Key resistance. A Shorting stance is recemmended.
Technical Recommendation: Look to go Short.
                                                                 AUDUSD - Daily
                                                               AUDUSD - Weekly
                           Back to Top

► USDJPY: Last week significant level 105.50 was broken as support and now the market is likely to head further south to re-test prior support at 101.35 dating back to early 2014. This week we are looking for selling signals in the shorter time frames to join this downtrend. Today's bullish candle may give us retracement to sell into.
Technical Recommendation: Looking to go Short on a retracement.
                                                                 USDJPY - Daily
                                                              USDJPY - Weekly

GOLD: 1300$ resistance seems to have well and truly failed. Price is now likely to retrace further possibly to re-test 1200 support.
Technical Recommendation: Look to go Short.
                                                               XAUUSD - Daily
                                                            XAUUSD - Weekly

► SP500: an inside doji today after yesterday's rejection of 2100. We are seeing conflicting signs so we stand asdie with a slight preference to the Short side.
Technical Recommendation: preference to going Short.
                                                               SP500 - Daily
                                                            SP500 - Weekly

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