Daily Report - 18 August 2016

End of Day Technical Analysis Report for:

, GOLD, and SP500

► EUR/USD: as expected, further upside today. Next resistance level is at 1.1400. Not far away now.
Technical Recommendation: Look for price to reach 1.1400. If Long look to take profit there.
                                                                 EURUSD - Daily

GBP/USD: awe have been saying to be Long with 1.3345 as next target. A big push today breaking 1.3065 resistance. Remain Long.
Technical Recommendation: Should be Long. Target 1.3345.
                                                                  GBPUSD - Daily

AUD/USD: a succession of conflicting pin bars at 0.7645-0.7650 area. We may see an upward rotation but with such indecision we prefer to remain in stand-by mode.
Technical Recommendation: Stand aside.
                                                                 AUDUSD - Daily
                           Back to Top

► USDJPY:  an inside doji after yesterday's bearish inside pin bar at 101.00 resistance but ultimately still meeting with 100.00 support.
Technical Recommendation: Stand aside.
                                                                 USDJPY - Daily

GOLD: a doji today as price remains bleow 1355 minor resistance. No change in our view ... market very choppy and lacking direction here so we remain in re-assessing mode.
Technical Recommendation: Re-assessing.
                                                               XAUUSD - Daily

► SP500: a further push above 2182.0. 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 bullish continuation after yesterday's pin bar does point a further upside to come.
Technical Recommendation: Stay Long.
                                                               SP500 - Daily


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