Daily Report - 1 Feb 2017

End of Day Technical Analysis Report for:


► EUR/USD: we have been saying lately that we expected the market to reach the 50 Fib at 1.0820 and we are effectively there. Market should pause and retrace, although it does look strong right now and an attempt to break to the upside is likely.
Technical Recommendation: Market at Key Fib level. Take money off the table.
                                                                 EURUSD - Daily                                                               EURUSD - Weekly

GBP/USD: Price now at the expected target of the 23.6 Fib level around 1.2700. We expect price to pause and possibly retrace in thsi area.
Technical Recommendation: Look for market to reach 1.2700 and pause/retrace
                                                                 GBPUSD - Daily
                                                               GBPUSD - Weekly
                                                   Back to Top

► AUD/USD: we expected a push to 0.7740 over the last week and looks like it is under way.
Technical Recommendation: Look for market to reach 0.7740.
                                                                 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 111.15.
Technical Recommendation: Should be Short.
                                                                  USDJPY - Daily
                                                                USDJPY - Weekly

GOLD: 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 - Weekly


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