Daily Report - 12 Jan 2017


End of Day Technical Analysis Report for:

EURUSD, GBPUSD, AUDUSD, USDJPY and GOLD



► EUR/USD: end of day off the highs but the bounce looks set to continue. Market likely to reach 1.0820 in the next few sessions.
Technical Recommendation: Look for further upside
                                                                 EURUSD - Daily

GBP/USD: Sterling still stuck between 1.2150 and 1.2200 as the EMA layer holds as dynamic resistance. The short term bounce may have to wait.
Technical Recommendation: Stand aside
                                                                 GBPUSD - Daily
                                                   Back to Top

► AUD/USD: price has reached confluent resistance at the 0.7500 significant level and the 200 sma.
Technical Recommendation: Exit any Longs. SHort term correction likely.
                                                                 AUDUSD - Daily
                           Back to Top

► USDJPY: we have been recommending to be Short as long as daily candle does not close above the 20 sma. So our readers shoudl have a nice profit already but this correction has further to go, like the 38.2 Fib at 111.30.
Technical Recommendation: Stay Short.
                                                                 USDJPY - Dailly
                                                                 USDJPY - Weekly

GOLD: amarket reached the 38.2 Fib level and posts a daily bearish pin candle. A pull back is now likely so close any Longs and consider a short term Short.
Technical Recommendation: Exit Longs and look to Short.
                                                                XAUUSD - Daily

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