Daily Report - 12 July 2016


End of Day Technical Analysis Report for:

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



► EUR/USD: this pair tested dynamic resistance at the 8 ema and 20/200 smas, closing below all of them ending the day in a pin bar.  This could be the opportunity we have been waiting for to go Short.
Technical Recommendation: Looking to go Short.
                                                                EURUSD - Daily
                                                              EURUSD - Weekly

GBP/USD: Sterling retraced back to the 23.6 Fib level for the first time since the Brexit collapse. Hardly a reason for going Long though we may see a further push up to 1.3500 and the 38.2 Fib so a Short term Long may be on the cards. We will look for signs in the lower time frames tomorrow.
Technical Recommendation: Possible further retracement.
                                                                  GBPUSD - Daily
                                                                   GBPUSD - Weekly

AUD/USD: today price attempted to break above the Brexit week high. It closed below it but the momentum is still bullish. We remain Long and looking for our targets to be hit hopefully this week.
Technical Recommendation: We are Long. Position +177 pips in profit.
                                                                 AUDUSD - Daily
                                                               AUDUSD - Weekly
                           Back to Top

► USDJPY: another surge today in this pair. We missed this week;s rally altogether so we are forced to stand aside and wait to see what happens at the next resistance level 106.00 which happens to be a level where the falling 50 sma is currently.
Technical Recommendation: Look for 106.00 to be reached.
                                                                 USDJPY - Daily
                                                               USDJPY - Weekly

GOLD: a second day of correction. Our Long is now almost back to break even. The 20 sma is also at these levels so we hope to see this act as support and cause an upward rotation and resumption.
Technical Recommendation: We are Long. Position +66 pips in profit.
                                                               XAUUSD - Daily
                                                            XAUUSD - Weekly

► SP500: price broke through all resistances today and posted a new all time high! This goes against our expectations. Price now looks set to reach 2160 which is the 23.6 Fib extension of the recent up-move. We will see what happens when we get there.
Technical Recommendation: Re-assessing.
                                                               SP500 - Daily
                                                            SP500 - Weekly

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