Daily Report - 4 Aug 2016

End of Day Technical Analysis Report for:

, GOLD, and SP500

► EUR/USD: a further retracement today through confluent support at 1.1150.  Price now at 38.2 Fib of recent uptrend. We may see an upward rotation here.
Technical Recommendation: Look for an upward rotation. Good place to go Long.
                                                                 EURUSD - Daily

GBP/USD: interest rate cut and subsequent drop down to re test 1.3100 support. Had the pound not fallen so much post Brexit, we would have seen a much bigger fall of course. All eyes tomorrow in NFP and 1.3100 for this pair. If broken we are likely to see a push back down to 1.2850.
Technical Recommendation: price at Key Support. Stand aside.
                                                                  GBPUSD - Daily

AUD/USD: price even closer to the top Bollinger Band and 0.7645. This is a key resistance area. If Long look to partly exit at 0.7645.
Technical Recommendation: Price close to confluent resistance. Stand aside.
                                                                 AUDUSD - Daily
                           Back to Top

► USDJPY: again, 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: Gold tried to test the 8 ema but bouncd back. 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: we still think price is 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


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.