Daily Report - 19 Oct 2016


End of Day Technical Analysis Report for:

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



► EUR/USD: price still hovering above 1.0970 key support. Today's doji warrants standing aside for now.
Technical Recommendation: Stand aside.
                                                                 EURUSD - Daily

GBP/USD: small doji todayat the 8 ema. We went Long last week. We believe a bounce is likely so we remain Long.
Technical Recommendation: We are Long. Position +42 pips in profit.
                                                             GBPUSD - Daily

► AUD/USD: another bull day as price has well and truly entered the 0.7008 - 0.7750 band of resistance. If Long we recommend starting to take some profits.
Technical Recommendation: Limited upside likely. Start taking some profit.
                                                                 AUDUSD - Daily
                           Back to Top

► USDJPY: the 8 ema failed as dynamic support today and the retracement we anticipated is under way. The 4hr chart showed us a possible rising wedge reversal pattern yesterday which played out today. Still possible to see a further down push to 102.80 support.
Technical Recommendation: Wedge pattern played out. Possible further retracement to 102.80.
                                                                 USDJPY - Daily
                                                                  USDJPY - 4hr

GOLD: another bull day after yesterday's close above 8ema and 1250-1258 support area. The bounce we have been predicting is under way.
Technical Recommendation: We are Long. Position +120 pips in profit.
                                                               XAUUSD - Daily

► SP5000: a close above 2140 resistance. Price back in mid-range. We change our stance to stand aside.
Technical Recommendation: Stand aside.
                                                              SP500 - Daily

► DAX30: the Dax closed above the top of the falling channel today, again and was contained by the less significant upper trendline. We remain Short and hoping price will rotate to the downside from here but will consider exiting tomorrow for a small loss.
Technical Recommendation: We are Short. Position losing -82 pips .
                                                              DAX30 - Daily

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