Daily Report - 19 July 2016


End of Day Technical Analysis Report for:

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



► EUR/USD: price at confluent support at bottom of recent range 1.100-1.1150 and lower Bollinger band. This is a key support. If it breaks we coudl see further substantial downside.
Technical Recommendation: Price at Key confluent support.
                                                                EURUSD - Daily

GBP/USD: price in middle of recent range 1.2880-1.3460. A break below 1.3106 should see a re-test of the bottom of teh range and lower Bollinger band.
Technical Recommendation: Day traders look to Short with 1.2880 as target.
                                                                  GBPUSD - Daily

AUD/USD: a decisive down move today closing below the 20 sma. Shoudl be Short with 50 sma as first target and 0.7300-07340 static support as second target area.
Technical Recommendation: Should be Short.
                                                                 AUDUSD - Daily
                           Back to Top

► USDJPY: price consolidating at Key resistance 106.30 and top Bollinger band. Possible risng wedge pattern forming.
Technical Recommendation: Likely upside continuation but watch possible rising wedge.
                                                                 USDJPY - Daily

GOLD: price stuck at 23.6 Fib level and bottom of potential rising channel. 8ema and 20 sma currently acting as dynamic resistance. Awaiting confirmation either way.
Technical Recommendation: Re-assessing. Preference to the Short side.
                                                               XAUUSD - Daily

► SP500: index stalling at 23.6 Fib extension level. Market still in Bullish mode but a retracement is likely and would be welcome.
Technical Recommendation: Possible retracement to 2120-2136 area.
                                                               SP500 - Daily

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