Daily Report - 11 Aug 2016


End of Day Technical Analysis Report for:

EURUSD, GBPUSD, AUDUSD, USDJPY
, GOLD, and SP500



► EUR/USD: a pull back today back to the 200 sma and 8 ema. We still think price is likely to reach 1.1250.
Technical Recommendation: Look for price to reach 1.1250
                                                                 EURUSD - Daily

GBP/USD: after yesterday's pin bar at confluent resistance  we got a bearish confirmation today which makes a re-test of 1.2850 even more likely.
Technical Recommendation: Should be Short.
                                                                  GBPUSD - Daily

AUD/USD: a small inside candle today after yesterday's break above 0.7675. We still feel we are now likely to see price re-testing 0.7800 prior high.
Technical Recommendation: Look to go Long.
                                                                 AUDUSD - Daily
                           Back to Top

► USDJPY:  101.00 level worked well as support today with the market rotating to the upside. We now have a bullish engulfing pattern at 101.00 support. If 102.00 is broken we could see a substantial rally.
Technical Recommendation: Stand aside. Preference to the upside.
                                                                 USDJPY - Daily

GOLD: after yesterday's pin bar at mid range, today we got bearish confirmation so we now expect 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: 2182 appears to be broken as resistance. We now expect a push towards 2200.
Technical Recommendation: Look for price to reach 2192-2200 area.
                                                               SP500 - Daily

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