Daily Report - 2 August 2016


End of Day Technical Analysis Report for:

EURUSD, GBPUSD, AUDUSD, USDJPY
, 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

CHECK OUR INTERACTIVE ECONOMIC CALENDAR FOR UPCOMING WORLDWIDE DATA RELEASES

DISCLAIMER
The information contained in this publication is not intended as an offer or solicitation for the purchase or sale of any financial instrument. Users acknowledge and agree to the fact that, by its very nature, any investment in CFDs and similar and assimilated products is characterised by a certain degree of uncertainty and that, consequently, any investment of this nature involves risks for which the user is solely responsible and liable.
Any recommendation, opinion or advice contained in such material reflects the views of TFF, and TFF expressly disclaims any responsibility for any decisions or for the suitability of any security or transaction based on it. Specifically, any decisions you may make to buy, sell or hold a security based on such research will be entirely your own and not in any way deemed to be endorsed or influenced by or attributed to TFF.
Past performance should not be seen as an indication of future performance. Market and exchange rate movements may cause the value of your investment to rise or fall and an investor may not get back the amount invested.
Investors considering opening a self-trading account should limit their exposure to maximum 10% of their investment capital.
Investments are not obligations of, deposits in, insured or guaranteed by TFF.