Daily Report - 1 Sep 2016


End of Day Technical Analysis Report for:

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



► EUR/USD: 1.1140 and 50 sma were confirmed as confluent support today. We're glad we recommended to cover any shorts yesterday as this could be a Swing Low in teh making and we may see an uptrend resumption from here. We do remain in stand-by mode though as we have NFP tomorrow and we want to see a bullish confirmation before going Long.
Technical Recommendation: Stand-by. Waiting for bullish confirmation.
                                                                 EURUSD - Daily

GBP/USD: yesterday we said we would wait for the upside breakout of the recent triangular concolidation to consider going Long. That happened today so we will now look for Long setups, although we will wait post NFP announcement.
Technical Recommendation: Looking to go Long.
                                                                  GBPUSD - Daily

AUD/USD: we have been looking for 0.7445 support to be tested but looks like 0.7500 may be more significant support. Any shorts should be covered here as we may see a strong bounce.
Technical Recommendation: Cover Shorts. Go into stand-by looking to go Long.
                                                                 AUDUSD - Daily
                           Back to Top

► USDJPY: after T1 being hit yesterday for +320 pips we are still running 1/3 with both a T2 and a trailing stop. Today's pin bar at the 50 Fib may cause a retracement tomorrow, but the bias is still bullish.
Technical Recommendation: Took profit at 103.50. We are still partially Long.
                                                                 USDJPY - Daily

GOLD:  1312 may become significant support as today price attempted to reach 1300 but failed again, closing above 1312. Cover Shorts as we may see a bounce here.
Technical Recommendation: Cover Shorts. Go into stand-by.
                                                               XAUUSD - Daily

► SP500: no change with the market proving very jittery here. Lacking direction at these levels but tomorrow's NFP could provide it. We prefer to stand aside until then. 2168 is becoming more and more significant as a level
Recommendation: Stand aside.
                                                               SP500 - Daily

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