Daily Report - 10 Aug 2016

End of Day Technical Analysis Report for:

, GOLD, and SP500

► EUR/USD: we have been wrong so far this week. Price has not made a push to re-test the bottom of the channel, but rather coninued its bounce beyond 1.1150 resistance. Price now likely to reach 1.1250.
Technical Recommendation: Look for price to reach 1.1250
                                                                 EURUSD - Daily

GBP/USD: a pin bar at confluent resistance makes it even more likely to see a re-test of 1.2850.
Technical Recommendation: Should be Short.
                                                                  GBPUSD - Daily

AUD/USD: a break above 0.7675 so now we are likely to see price re-testing 0.7800 prior high.
Technical Recommendation: Look to go Long.
                                                                 AUDUSD - Daily
                           Back to Top

► USDJPY:  downside resumption today as per yesterday's commentary. 101.00 support halted the fall today but we feel this market is likely to test 100.00
Technical Recommendation: Should be Short.
                                                                 USDJPY - Daily

GOLD: a pin bar at mid range today. We should see a downward rotation in this area for price to go and re-test lows of recent range in the 1300-1312 zone.
Technical Recommendation: Look for 1300-1312 to be re-tested.
                                                               XAUUSD - Daily

► SP500: a bearish confirmation as the market continues to struggle to break above 2182. A correction is likely
Technical Recommendation: Market due a correction so stand aside.
                                                               SP500 - Daily


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