Daily Report - 25 Oct 2016


End of Day Technical Analysis Report for:

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



► EUR/USD: best to look at the weekly chart on this pair. Bias still bearish but a bounce is overdue. 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 - Weekly

GBP/USD: price stagnating below the 8 ema which is still acting as dynamic resistance. We took off our Long on Friday and are looking to go Long again but not seeing many prompts to do so just yet.
Technical Recommendation: Looking to go Long again.
                                                             GBPUSD - Daily

► AUD/USD: 0.7600 and the 50 sma are acting as confluent support. We may see further upside this week but bias is still bearish.
Technical Recommendation: Stand aside.
                                                                 AUDUSD - Daily
                           Back to Top

► USDJPY: marker appears to have rotated around 103.30 support. An upside breakout is likely. Weekly chart shows likely target area of 106.70 and the upper trendline.
Technical Recommendation: Looking to go Long.
                                                                 USDJPY - Daily
                                                               USDJPY - Weekly

GOLD: a weekly bullish candle last week bodes well for our Long. We believe the market bounce is going to continue so we remain Long.
Technical Recommendation: We are Long. Position +95 pips in profit.
                                                             XAUUSD - Weekly

► SP5000: market has entered key confluent resistance area 2146.5-2156.5 where the 50 sma also sits. We still think market is likely to rotate to the downside in this area so we will look for any sell signals in the coming days.
Technical Recommendation: Look for 2146.5-2156.5 resistance to count.
                                                              SP500 - Daily

► DAX30: Price close to key 10800 resistance so we are in re-assessing mode.
Technical Recommendation: Re-assessing.
                                                               DAX30 - Weekly

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