Daily Report - 20 Oct 2016


End of Day Technical Analysis Report for:

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



► EUR/USD: a volatile day going both ways and finally breaking 1.0970 key support. More support close by at 109.10 and 108.20. We are flat. Anyone Short should consider taking profits as market approaches 1.0820 as it is a key support.
Technical Recommendation: Price to reach 1.0820 support.
                                                                 EURUSD - Daily

GBP/USD: a small bearish candle on a day of overall major dollar strength which shows downside in Sterling may be limited at these levels. We still believe a bounce is in the making so we remain Long.
Technical Recommendation: We are Long. Position at break even.
                                                             GBPUSD - Daily

► AUD/USD: a massive bear candle today as price failed at 0.7708 resistance. We did not go Short intraday but will look to go Short on any pull back.
Technical Recommendation: Looking to go Short.
                                                                 AUDUSD - Daily
                           Back to Top

► USDJPY: double bullish candle today as price rotates at 103.30 support. An upside breakout is likely.
Technical Recommendation: Looking to go Long.
                                                                 USDJPY - Daily

GOLD: a small bear candle at 20 sma. We still believe the market bounce is going to continue so we remain Long.
Technical Recommendation: We are Long. Position +85 pips in profit.
                                                               XAUUSD - Daily

► SP5000: earlier today we called for a Head and Shoulders reversal in the 1 hr time frame which played out amongst severe volatility at the NY open. The daily chart shows price hovering below key confluent resistance area 2146.5-2156.5. We think market is likely to rotate to teh downside in this area.
Technical Recommendation: Look for 2146.5-2156.5 resistance to count.
                                                              SP500 - Daily
                                                              SP500 - 1 hr

► DAX30: earlier today we exited our Short for a small loss of 0.4 x Risk (-90 pips) as we had hinted at in yesterday's report. Price close to key resistance so we go into re-assessing mode.
Technical Recommendation: Stopped out. Re-assessing.
                                                              DAX30 - Daily

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