Daily Report - 23 Nov 2016


End of Day Technical Analysis Report for:

EURUSD, GBPUSD, AUDUSD, USDJPY and GOLD



► EUR/USD: the bounce we expected did not materialize. We were stopped out. Clearly this pair wants to properly test 1.0460-1.0520 support.
Technical Recommendation: Stopped out. Re-assessing.
                                                                 EURUSD - Weekly

GBP/USD: a doji at confluent support . We remain Long and expect an upward rotation from here.
Technical Recommendation: We are 1 1/2 x Risk Long. Position 1 +185 pips, position 2 at B/E
                                                                 GBPUSD - Daily

► AUD/USD: we went Long in this pair 2 days ago. Trade looked good but we've met with stronger than expectd resistance at the 8 ema. We are Long but will exit just above B/E after this report is issued as we expect further selling into the Asian session. We will remain sidelined for now.
Technical Recommendation: We are Long. Position +20 pips in profit! Exiting!
                                                                 AUDUSD - Daily
                           Back to Top

► USDJPY: price has broken through the 50 Fib level of the recent downtrend. We expected a retracement but does not look likely.
Technical Recommendation: Bullish continuation.
                                                                 USDJPY - Weekly

GOLD: price broke through 1200 today quite convincingly. We will now be looking to join this downtrend on any pull back.
Technical Recommendation: Looking to go Short on pull backs.
                                                                XAUUSD - Daily

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