Daily Report - 3 Nov 2016


End of Day Technical Analysis Report for:

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



► EUR/USD: price still stuck at 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: sterling finally broke out of the 11th October candle range, which is grteat news for our Long position which is well in the money now. We expect a substantial rally from here so we will remain Long.
Technical Recommendation: We are Long. Position +208 pips in profit.
                                                             GBPUSD - Daily

► AUD/USD: price still hovering below strong resistance at 0.7700-0.7732. We expect a downside rotation from these levels.
Technical Recommendation: Looking to go Short.
                                                                 AUDUSD - Daily
                           Back to Top

► USDJPY: price corrected heavily the last couple of days and is now back at 102.80-103.30 key support in confluence with the 50 sma. We are standing aside but will react more likely to an upward rotation from here.
Technical Recommendation: Stand aside. Possible bounce!
                                                                 USDJPY - Weekly

GOLD: having been Long since 12th October, yesterday we exited for +430 pips profit. {rice tried to correct today but met with dynamic support at the main averages. We may see an attempt at upside continuation and a break of 1305 resistance.
Technical Recommendation: Possible upside continuation.
                                                             XAUUSD - Daily

► SP5000: price finally reached 2090 support at the 50 Fib retracement level. We expected the market to pause here, and it did. Watch thsi are for a possible short covering bounce tomorrow.
Technical Recommendation: Look for a possible bounce from this key level.
                                                              SP500 - Weekly

► DAX30: a re-test 10245 as support is still liekly and not far away. Anyone short should consider covering the position when we hit that level.
Technical Recommendation: Cover Shorts in 10245 area.
                                                               DAX30 - Daily

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