Daily Report - 24 Aug 2016

End of Day Technical Analysis Report for:

, GOLD, and SP500

► EUR/USD: yesterday we recommended any longs to take profit and go into stand-by mode with a view to re-enter Long should the market retrace. That retracement started today. Anyone flat should now look for price to reach 1.1220 confluent support and look for Buy signals in thsi event area.
Technical Recommendation: look for Buy sisgnals around 1.1220.
                                                                 EURUSD - Daily

GBP/USD: price still headed towards 1.3345. Should be Long and stay Long provided price does not close below 1.3065.
Technical Recommendation: Stay Long.
                                                                  GBPUSD - Daily

AUD/USD: a doji today after yesterday's bear candle. Market not quite ready to drop just yet but the area between current price and 0.7645 resistance is a good place to look for a downward rotation and downside resumption.
Technical Recommendation: Looking to go Short.
                                                                 AUDUSD - Daily
                           Back to Top

► USDJPY: two bullish candles in a row at key support of 100.00. Market likely to bounce from here. We went STTS Long after yesterday's close.
Technical Recommendation: We are Long. Position +10 pips in profit.
                                                                 USDJPY - Daily

GOLD: yesterday's pin bar meeting with dynamic confluent resistance at all the moving averages was indeed prelude to a downside breakout. Should be Short looking for a re-test of 1300$.
Technical Recommendation: Look for price to re-test 1300$.
                                                               XAUUSD - Daily

► SP500: 2182 support failed today. We might see a bit of a retracement after today. Longs should close positions here an look to buy back in lower down.
Technical Recommendation: Look for a retracement to Buy back in..
                                                               SP500 - Daily


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