Daily Report - 18 Oct 2016


End of Day Technical Analysis Report for:

EURUSD, GBPUSD, AUDUSD, USDJPY
GOLD, SP500 and DAX30



► EUR/USD: an attempt to bounce seems to have come to a halt for now. Price hovering above 1.0970 support. We still recommend standing aside for now.
Technical Recommendation: Stand aside.
                                                                 EURUSD - Daily

GBP/USD: today was the first bullish day for some time, with price closing at the 8 ema. We went Long last week. We believe a bounce is likely so we remain Long.
Technical Recommendation: We are Long. Position +65 pips in profit.
                                                             GBPUSD - Daily

► AUD/USD: another bull day as price continues its push towards 0.7008 - 0.7750.
Technical Recommendation: Preference to the upside.
                                                                 AUDUSD - Daily
                           Back to Top

► USDJPY: the 8 ema still holds out as dynamic support but today's doji after a few bearish candles at 104.25 resistance could mean we will see an attempt at a retracement. The 4hr chart shows a possible rising wedge reversal pattern which shows we coudl see a pull back of ca 100 pips to 102.80 support.
Technical Recommendation: Possible pull back.
                                                                 USDJPY - Daily
                                                                  USDJPY - 4hr

GOLD: finally a close above 8ema and 1250-1258 support area. We may get the bounce we have been looking for.
Technical Recommendation: We are Long. Position +50 pips in profit.
                                                               XAUUSD - Daily

► SP5000: an attempt at closing above 2140 resistance did not succede today. As per our Weekly Bonus Video we favour another attempt to break 2115 support.
Technical Recommendation: Preference to the downside.
                                                              SP500 - Daily

► DAX30: the Dax closed above the top of the falling channel today, though it's still below recent swing high. We remain Short and hoping price will rotate to the downside from here.
Technical Recommendation: We are Short. Position losing -55 pips .
                                                              DAX30 - Daily

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