Daily Report - 6 Oct 2016


End of Day Technical Analysis Report for:

EURUSD, GBPUSD, AUDUSD, USDJPY
GOLD, and SP500



► EUR/USD: the upside breakout we had predicted definitely did not happen. We are now at the bottom of the recent triangualr consolidation. Support seems to have died down for this pair so we may see an attempt at a downside breakout, but we will stand aside for now.
Technical Recommendation: Price at key support. Stand aside.
                                                                 EURUSD - Daily

GBP/USD: further falling with no apparent end in sight. Having missed going Short higher up all we can do stand on the sidelines. Downtrend is well entrenched.
Technical Recommendation: Stand aside.
                                                             GBPUSD - Daily

► AUD/USD: we have been favouring a downside breakout of 0.7600 support which we got today. Next likely target is the 200 sma and 0.7445-0.7490 support area below that.
Technical Recommendation: Look for a push to the 200sma.
                                                                 AUDUSD - Daily
                           Back to Top

► USDJPY: exited the rest of our Long position today at 104.00 for a total of 323 pips and 3.32 x Risk profit. Market should pause at this level so we should see a pull back.

Technical Recommendation: +323 pips profit taken. Re-assessing.
                                                                 USDJPY - Daily

GOLD: firther falling today. Price has now entered 1250-1258 support area. We may see a bounce here.
Technical Recommendation: Look for price to pause or bounce in this area.
                                                               XAUUSD - Daily

► SP500: price still stuck between 2143 and 2175. Total lack of direction here.
Technical Recommendation: Stand aside.
                                                               SP500 - Daily

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