Daily Report - 8 August 2016

End of Day Technical Analysis Report for:

, GOLD, and SP500

► EUR/USD: for our technical analysis please watch today's Weekly Bonus Video.
Technical Recommendation: Look for price to reach Rising Channel lower trendline.
                                                                 EURUSD - Daily

GBP/USD: The daily chart shows price attempting to break out of 1.3065-1.3345. Price today inside Friday’s mother candle, and if the low is broken and 1.3065 fails as support we are likely to see a re-test of 1.2850.
Technical Recommendation: Stand aside. Preference to the downside.
                                                                  GBPUSD - Daily

AUD/USD: this pair chopping around 0.7645 critical resistance level. If broken we can see price re-testing 0.7800 prior high. Daily chart shows market at 3rd attempt to break this resistance. Price todaybroke Friday’s mother candle high but closed within the range.We stand aside for now waiting for a breakout and a re-test
Technical Recommendation: Stand aside. Preference to the Upside.
                                                                 AUDUSD - Daily
                           Back to Top

► USDJPY: daily chart shows 101.00 acting as support last week. With price closing above the 8 ema today, we may see a push to confluent dynamic resistance at the 20/50 sma’s around 104.00. So that would be the short term play for the first half of this week
Technical Recommendation: Look to go Long.
                                                                 USDJPY - Daily

GOLD: for our technical analysis please watch today's Weekly Bonus Video.
Technical Recommendation: Look for 1300-1312 to be re-tested.
                                                               XAUUSD - Daily

► SP500: for our technical analysis please watch today's Weekly Bonus Video.
Technical Recommendation: Market likely to reach 38.2 Fib extension and 2200.
                                                               SP500 - Daily


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