Daily Report - 27 Oct 2016


End of Day Technical Analysis Report for:

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



► EUR/USD: price has now retraced to the 8 ema and 1.0910 resistance. We are looking for the market to rotate to the downside again.
Technical Recommendation: Looking for a downward rotation.
                                                                 EURUSD - Daily

GBP/USD: same as last few days! Price still stagnating below the 8 ema which is still acting as dynamic resistance. We 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: after yesterday's big pin bar at 0.7700 resitance we've had a bearish confirmation so far during the Asian session. Market i sno wlikely to attempt breaking 0.7600 support and if it fails we're looking at a re-test of the 200 sma.
Technical Recommendation: Look for a re-test of 0.7600 support.
                                                                 AUDUSD - Weekly
                           Back to Top

► USDJPY: we exited yesterday at 104.25 as Wednesday's bearish pin bar at resistance was too strong to ignore. Price is holding above 104.30 at the moment. Possible upside breakout to come.
Technical Recommendation: Possible upside breakout
                                                                 USDJPY - Daily

GOLD: a retracement down to the 8 ema yesterday. We still believe in a substantial bounce so we remain Long.
Technical Recommendation: We are Long. Position +115 pips in profit.
                                                             XAUUSD - Daily

► SP5000: we though market should be heading towards 2125 support but there seems to be buying below 2140 for now. However Tuesday's bearish engulfing candle at key confluent resistance is a strong signal so we still think there is more downside to come.
Technical Recommendation: Look price to reach 2125 support.
                                                              SP500 - Daily

► DAX30: Price failed at key 10800 resistance and got a bearish confirmation yesterday. This could be reversal area.
Technical Recommendation: Looking to go Short.
                                                               DAX30 - Weekly

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