Daily Report - 14 July 2016


End of Day Technical Analysis Report for:

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



► EUR/USD: price today attempted to break above 1.1150 resistance once again but met with selling again, just as it did at the end of June. Unfortunately we were stopped out of our Short in the process. It does still look like this level will be tough to be broken to the upside so the market may well rotate down from here. We will wait for a confirmation after having taken a loss.
Technical Recommendation: Stopped out. -85 pips Loss and 1.0 x Risk. Re-assessing.
                                                                EURUSD - Daily
                                                               EURUSD - 4 hr

GBP/USD: price today tried to break the 23.6 Fib level as resistance. It closed above it but now dynamic resistance presents itself in the form of the 20 sma in the daily chart and the 365 sma in the 1 hr chart. This is clearly a key area for the market and price could do anything here so we will wait and see what happens.
Technical Recommendation: Price at Key resistance. Stand aside.
                                                                  GBPUSD - Daily
                                                                   GBPUSD - 1 hr

AUD/USD: a further attempt to break 0.7648  resistance today. Price closed below it again but we hope it will happen tomorrow. We remain Long and looking for our targets to be hit hopefully next week.
Technical Recommendation: We are Long. Position +129 pips in profit.
                                                                 AUDUSD - Daily
                                                               AUDUSD - Weekly
                           Back to Top

► USDJPY: next resistance level 106.00 was all but reached today as price met with confluent resistance of the 50 sma and the top Bollinger band. We expect price to stall atthsi level for a while so we will be watching for signlas in this area.
Technical Recommendation: Key confluent resistance reached at 106.00 level. Stand aside.
                                                                 USDJPY - Daily
                                                               USDJPY - Weekly

GOLD: dynamic support at the 20 sma held today as price dipped below our in cost. Luckily for us teh day ends well off the lows and above the 20 sma. We now hope for an upward rotation and resumption.
Technical Recommendation: We are Long. Position +86 pips in profit.
                                                               XAUUSD - Daily
                                                            XAUUSD - Weekly

► SP500: 2160 and 23.6 Fib extension of the recent up-move was surpassed today. We are in unchartered territory at all time highs. Tough to go Long without seeing a pull back first.
Technical Recommendation: Re-assessing.
                                                               SP500 - Daily

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