Daily Report - 17 Aug 2016

End of Day Technical Analysis Report for:

, 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


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