Daily Report - 23 Jan 2017

End of Day Technical Analysis Report for:


► EUR/USD: the bounce looks set to continue. As we have been saying, this market is likely to reach 1.0820 in the next few sessions so look for further upside. If and when 1.0820 is reached expect the market to pause and retrace.
Technical Recommendation: Stay Long
                                                                 EURUSD - Weekly

GBP/USD: Sterling's short term bounce is underway. We expect the 23.6 Fib level around 1.2700 to be reached and for the market to pause there.
Technical Recommendation: Look for market to reach 1.2700
                                                                 GBPUSD - Daily
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► AUD/USD: price has easily broken resistance at the 0.7500 significant level and looks set to continue to the upside short term. Likely re-test of 0.7730 resistance level.
Technical Recommendation: Look for a push to 0.7730.
                                                                 AUDUSD - Weekly
                           Back to Top

► USDJPY: we have been recommending to be Short for a while and nothing's changed. We believe this correction has further to go, like the 38.2 Fib at 111.30.
Technical Recommendation: Stay Short.
                                                                 USDJPY - Weekly

GOLD: market breached the 38.2 Fib level with no visible pull back. Price likely now to test the 50 Fib level at 1230.
Technical Recommendation: Look for market to reach 1230.
                                                                XAUUSD - Weekly


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