Daily Report - 25 Jan 2017


End of Day Technical Analysis Report for:

EURUSD, GBPUSD, AUDUSD, USDJPY and GOLD



► EUR/USD: a bullish canlde today. We still believe this market is likely to reach 1.0820 in the next few sessions. If and when 1.0820 is reached expect the market to pause and retrace.
Technical Recommendation: Stay Long
                                                                 EURUSD - Daily

GBP/USD: after yesterday's inside pin bar we suggested Sterling's bounce was likely to continue today ..and it did. Price almost at the expected target of the 23.6 Fib level around 1.2700.
Technical Recommendation: Look for market to reach 1.2700
                                                                 GBPUSD - Daily
                                                                 GBPUSD - Weekly
                                                   Back to Top

► AUD/USD: the short term pull back we expected was only intraday as price met with support at the 200 sma. Look for a push to 0.7730 now.
Technical Recommendation: Look for market to reach 0.7730.
                                                                 AUDUSD - Daily
                                                                 AUDUSD - Weekly
                           Back to Top

► USDJPY: no change to our recent commentaries. We think price is likely to reach the 38.2 Fib at 111.30.
Technical Recommendation: Should be Short.
                                                                  USDJPY - Daily
                                                                 USDJPY - Weekly

GOLD: another pull back today but price still likely to test the 50 Fib level at 1230 and possibly 1240 above that where we would expect a pause.
Technical Recommendation: Look for market to reach 1230-1240 area.
                                                                 XAUUSD - Daily
                                                                XAUUSD - Weekly

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