Daily Report - 4 Oct 2016


End of Day Technical Analysis Report for:

EURUSD, GBPUSD, AUDUSD, USDJPY
GOLD, and SP500



► EUR/USD: a very jittery market in this pair. Today's lows re-tested the bottom of the recent triangular consolidation and bounced violently to close with a larg epin bar ... similar in size to last Friday's. Very strong support below the 200sma. This can lead to an upside breakout we think.
Technical Recommendation: Look for an upside breakout.
                                                                 EURUSD - Daily

GBP/USD: a collapse through 30 year lows. We had been Long expecting a bounce off 1.2950 and the lower trendlien but yesterday we were stopped out for -110 pips (-1.0 x Risk). Lucky we did have a Stop as market collapsed today. Too late to get invoilved to the downside now.
Technical Recommendation: Stopped out. Re-assessing.
                                                             GBPUSD - Daily

► AUD/USD: a double bearish candle today as price finds itself back at confluent support 0.7600 and 50 sma. Momentum is likely to push this market down further.
Technical Recommendation: Look for a failure of 0.7600 support.
                                                                 AUDUSD - Daily
                           Back to Top

► USDJPY: our Long trade has done very well. Today as the market surged T1 was hit at 102.70 where we exited the 60% and we have now moved T2 to 104.00 but we will also trail the stop on the remaining 40%.
Technical Recommendation: T1 hit for +193 pips. Still partially Long.
                                                                 USDJPY - Daily

GOLD: a total collapse today through all supports. Technically we were flat as price stuck inside long term consolidation but well done to our Fundamental team who have been recommending being Short for a while ( Click Here ).
Technical Recommendation: Look for price to reach 1258 support and pause.
                                                               XAUUSD - Daily

► SP500: price stuck between 2143 and 2175. Only bias is bearish due to repeated bearish candles in the last couple of weeks.
Technical Recommendation: Preference to the downside.
                                                               SP500 - Daily

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