Daily Report - 2 August 2016

End of Day Technical Analysis Report for:

, GOLD, and SP500

► EUR/USD: an upside push today lifting price away from 1.1150 signifcant level and the 50 sma. Price is well on the way to next resistance level which is 1.1400. 
Technical Recommendation: Should be Long. If flat Buy on pull backs.
                                                                 EURUSD - Daily

GBP/USD: contrary to our expectations price broke above 1.3300 and is now testing the top Bollinger Band. Next resistance is 1.3460.
Technical Recommendation: price to test 1.3460 resistance next.
                                                                  GBPUSD - Daily

AUD/USD: back where we started the week. Price close to the top Bollinger Band and 0.7645. If Long look to partly exit at 0.7645.
Technical Recommendation: Price close to confluent resistance. Stand aside.
                                                                 AUDUSD - Daily
                           Back to Top

► USDJPY: price close to 100.60 support. If short look to partly cover position.
Technical Recommendation: Pice close to key support. Stand aside.
                                                                 USDJPY - Daily

GOLD: price edging closer to key 1375 resistance. Longs shoudl look to take some profit when market gets there.
Technical Recommendation: Look for 1375$ to be re-tested.
                                                               XAUUSD - Daily

► SP500: against our expectations price closed below the 8 ema and 20 sma. A correction is afoot. Price likely to retrace to the 5 sma and 2120 with the 23.6 Fib level after that just above 2100.
Technical Recommendation: Look for retracement down towards 2100.
                                                               SP500 - Daily


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