Daily Report - 22 June 2016


End of Day Technical Analysis Report for:

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



► EUR/USD: today's action closes above all the averages once again as price continues to chop around below 1.1400. The Brexit referendum is invariably affecting the Euro as well. We prefer to stand aside for now until we get an outcome.
Technical Recommendation: Stand aside.
                                                                EURUSD - Daily
                                                              EURUSD - Weekly

GBP/USD: price today looks like closing above 1.4750 resistance, with the mnarket obviously discounting or expecting a 'Stay in' vote in the Brexit referendum. Expect massive volatility either way. We prefer to stand aside until we get an outcome.
Technical Recommendation: Stand aside.
                                                               GBPUSD - Daily
                                                             GBPUSD - Weekly

AUD/USD: looks like 0.7500 resistance might fail today as price attempts to close above it, against our expectations. We go into re-assessing mode.
Technical Recommendation: Re-assessing.
                                                                 AUDUSD - Daily
                                                               AUDUSD - Weekly
                           Back to Top

► USDJPY: as we have been saying, after last week saw 105.50 broken as support, we think 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 inside doji does nothing for us. We wait for a better opportunity.
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. But today confluent support at 1265 and the 20/50 smas seemed strong so we may get an up-tick tomorrow.
Technical Recommendation: Look to go Short.
                                                               XAUUSD - Daily
                                                            XAUUSD - Weekly

► SP500: a second inside candle today, this time in the shape of a long wick bearish pin bar confirming rejection of 2100. Our preference to the Short side has just increased.
Technical Recommendation: preference to going Short.
                                                               SP500 - Daily
                                                            SP500 - Weekly

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