Daily Report - 23 Aug 2016

End of Day Technical Analysis Report for:

, GOLD, and SP500

► EUR/USD: conflicting pin bars at the current levels means uncertainty. Key resistance area 1.1400-1.1460 is not far away and we do think teh market is going to get there soon but after today's action we would recommend any longs to take profit and go into stand-by mode with a view to re-enter Long should the market retrace.
Technical Recommendation: Longs take profit and look for a retracement to re-enter Long.
                                                                 EURUSD - Daily

GBP/USD: price has broken 50 sma dynamic resistance and is now headed towards 1.3345. Should be Long and stay Long provided price does not close below 1.3065.
Technical Recommendation: Should be Long.
                                                                  GBPUSD - Daily

AUD/USD: a bear candle today as 0.7645 resistance in confluence with 8 ema and 20 sma. A good Shorting opportunity.
Technical Recommendation: Looking to go Short.
                                                                 AUDUSD - Daily
                           Back to Top

► USDJPY: a small pin bar yet a bullish one at key support of 100.00. Market likely to bounce from here.
Technical Recommendation: Look to go Long.
                                                                 USDJPY - Daily

GOLD: conflicting pin bars fuel the recent indecisive trend. No real signals either way but we do prefer the downisde as today's pin bar wick shows price meeting with dynamic confluent resistance at all the moving averages.
Technical Recommendation: Stand aside. Preference to the downside.
                                                               XAUUSD - Daily

► SP500: a bounce off 2182 support confirms our recent stance of advocating to be Long. <arket is ste for a push to 2200 as we have been saying for a while.
Technical Recommendation: Market likely to reach 2200.
                                                               SP500 - Daily


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