Daily Report - 17 Aug 2016


End of Day Technical Analysis Report for:

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



► EUR/USD: an inside doji today after yesterdays' upside breakout of 1.1220 resistance. We remain bullish. Next resistance level is at 1.1400.
Technical Recommendation: Look for price to reach 1.1400
                                                                 EURUSD - Daily

GBP/USD: a pin bar doji at 1.3065 resistance after yesterday's surge. Yesterday's bullish engulfing candle at 1.2850 support remains the driving signal in our opinion. A big bounce is on the cards. Should be Long with 1.3345 as next target.
Technical Recommendation: Should be Long.
                                                                  GBPUSD - Daily

AUD/USD: yesterday's pin bar was followed by a bear candle today although there seems to still be support at the 20sma and the 0.7645-0.7650 area. We may see an upward rotation but prefer to remain in stand-by mode.
Technical Recommendation: Stand aside.
                                                                 AUDUSD - Daily
                           Back to Top

► USDJPY:  a bearish inside pin bar toda at 101.00 resistance but ultimately still meeting with 100.00 support.
Technical Recommendation: Stand aside.
                                                                 USDJPY - Daily

GOLD: price in tight range as teh last few bearish pin bars were countered today by a bullish one. Martket veryu choppy and lacking direction here so we remain in re-assessing mode.
Technical Recommendation: Re-assessing.
                                                               XAUUSD - Daily

► SP500: as we have been saying, 2200 is very close so we expect the market to reach it although any longs should consider taking some profit here. In any case remain long as long as price stays above the low of 2 weeks ago which is 2146.5. Today's pin bar does point a further upside to come.
Technical Recommendation: Take some profit but stay Long.
                                                               SP500 - Weekly

CHECK OUR INTERACTIVE ECONOMIC CALENDAR FOR UPCOMING WORLDWIDE DATA RELEASES

DISCLAIMER
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.