Daily Report - 2 Nov 2016

End of Day Technical Analysis Report for:

GOLD, SP500 and DAX30

► EUR/USD: the Euro has broken major resistance to bounce back to the 50 sma and 1.1125 resistance. This a new key area where the market may pause or even reverse.
Technical Recommendation: Price at Key Resistance. Stand aside.
                                                                 EURUSD - Daily

GBP/USD: price is making a genuien attempt at breaking out of the 11th October candle range, which is itself an inside candle to the Flash Crash candle of 7th October. We went Long yesterday @ 1.2230 expecting a breakout.
Technical Recommendation: We are Long. Position +70 pips in profit.
                                                             GBPUSD - Daily

► AUD/USD: price still hovering below strong resistance at 0.7734. We expect a downside rotation from these levels.
Technical Recommendation: Looking to go Short.
                                                                 AUDUSD - Weekly
                           Back to Top

► USDJPY: price corrected heavily the last couple of days stopping us out for a -90 pips loss ( 1 x Risk ). This pair is now back at 102.80-103.30 key support.
Technical Recommendation: Stopped out. Re-assessing.
                                                                 USDJPY - Weekly

GOLD: having been Long since 12th October, today both our targets were hit in quick succession, as price re-tested 1305$ resistance. We now go into re-assessing mode.
Technical Recommendation: Winning trade! Both targets hit. +430 pips profit and +2.35 x Risk.
                                                             XAUUSD - Daily

► SP5000: we did suggest price was likely to extend its losses to test 2125 support and it happened today, going all the way to almost reach 2090 support at the 50 Fib retracement level. Expect the market to pause here.
Technical Recommendation: Looking for a pause at 2090.
                                                              SP500 - Daily

► DAX30: we have been recommending to be Short for a while, although we have not gone Short ourselves. With a gap down open today price looks set to continue to the downside at least to re-test 10245 as support.
Technical Recommendation: Stay Short.
                                                               DAX30 - Daily


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