Daily Report - 10 Nov 2016


End of Day Technical Analysis Report for:

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



we have been out of the market last couple of days as US election volatility has caused havoc in the marlets. Having taken profit of +430 pips (+4.5 x Risk) on SP500 just hours before the election started, we ran a new Long in USDJPY which did get stopped out in the subsequent mahem but just for 1 x Risk. We kept the Sterling Long which is doing well again, contrary to other dollar based currency pairs.
 
► EUR/USD in our weekend video we predicted a 3rd wave in the recent Euro uptrend and we left the markings on teh chart to show how in Wednbesday's mahem, the 3rd wave was well and truly completed, before the market reversed dramatically. Price now back at 1.0870 support. We recommend sitting out to see how the market settles.
Technical Recommendation: Stand aside.
                                                                 EURUSD - Daily

GBP/USD: we kept our Long position for a few sessions and we notice that price has resumed to the upside and is now at the key dynamic resistance at the 50 sma. We believe this resistance will be broken.
Technical Recommendation: We are Long. Position +310 pips in profit.
                                                             GBPUSD - Daily

► AUD/USD: resistance at 0.7734 ultimately worked again. In the volatility price is now back at 0.7590 support. We will stand aside in this pair also.
Technical Recommendation: Stand aside.
                                                                 AUDUSD - Daily
                           Back to Top

► USDJPY: we went Long again before the election in the US and were uncerimonioulsy stopped out. Market likely to reach the upper trendline so we re-assess.
Technical Recommendation: Looking to go Long.
                                                                 USDJPY - Daily

GOLD: massive bear candle is forming in the weekly chart which suggests further downside is to come.
Technical Recommendation: Looking to go Short.
                                                             XAUUSD - Weekly

► SP5000: on Tuesday we exited at T1 and at 2130, expecting the market toreverse which it did, but only to bounce back dramatically. As with the Euro, we prefer to stand aside until the dust settles.
Technical Recommendation: exited fullr position +430 pips in profit; +4.5 x Risk
                                                              SP500 - Daily

► DAX30: teh dax has deifned a strange triangular consocidation which is neutral. We expect 10880 to act as strong resistance once again.
Technical Recommendation: Stand aside..
                                                               DAX30 - Daily

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