Daily Report - 8 Sep 2016


End of Day Technical Analysis Report for:

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



► EUR/USD: we said price was likely to re-test 1.1345 resistancethis week, but in fact it fell short by a few pips. Selling pressure caused a pin bar which could cause further downside tomorrow. We go into stand-by mode as this action is not clear.
Technical Recommendation: Stand aside.
                                                                 EURUSD - Daily

GBP/USD: Sterling has fallen off the highs made on Tuesday but the 8 ema still acts as support. We remain Long looking for an upward resumption.
Technical Recommendation: We are Long. Position -46 pips underwater
                                                                  GBPUSD - Daily

AUD/USD: the Aussie has re-tested 0.7720-0.7750 resistance area as expected today and fell hard, meeting with stern selling. Price is now likely to turn south.
Technical Recommendation: Looking to go Short.
                                                                 AUDUSD - Daily
                           Back to Top

► USDJPY: after a combined +294 pips profit (3.26 x Risk) profit on prior Long position, we now see a bullish candle at the 20 sma. This may mean an upward resumption.
Technical Recommendation: Looking to re-enter Long.
                                                                 USDJPY - Daily

GOLD: after the recent surge we are now back at confluent support (1322 and the moving averages). This could be an event area for a buy signal so we'll be watching what happens next couple of sessions.
Technical Recommendation: Price at Key event area. Possible Buy area.
                                                               XAUUSD - Daily

SP500: the index continues sideways between 2168 and 2190. We remain on the sidelines.

Technical Recommendation: Stand aside.
                                                               SP500 - Daily

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