Daily Report - 3 Aug 2016

End of Day Technical Analysis Report for:

, GOLD, and SP500

► EUR/USD: today market retraced back to re-test confluent support at 1.1150.  Traders no doubt waiting for tomorrow's NFP US data. We should see an upward rotation for upside resumption towards the next resistance level which is 1.1400. 
Technical Recommendation: Look for an upward rotation. Good place to go Long.
                                                                 EURUSD - Daily

GBP/USD: a nothing day as price hovers around the top Bollinger Band. Next resistance is 1.3460.
Technical Recommendation: price to test 1.3460 resistance next.
                                                                  GBPUSD - Daily

AUD/USD: price still 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: nothing new to add! 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: no change! Price edging closer to key 1375 resistance. Longs should look to take some profit when market gets there.
Technical Recommendation: Look for 1375$ to be re-tested.
                                                               XAUUSD - Daily

► SP500: price likely to retrace to the 50 sma and 2120 below the 23.6 Fib level 2136.5.
Technical Recommendation: Look for retracement down towards 2120.
                                                               SP500 - Daily


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