Daily Report - 9 Feb 2017


End of Day Technical Analysis Report for:

EURUSD, GBPUSD, AUDUSD, USDJPY and GOLD



► EUR/USD: market has retraced to the 38.2 Fib once again after last week's bearish pin bar. In the Weekly Bonus Video we recommended to be Short so we hope our readers followed. With the 50 sma at the 50 Fib level we suggest to remain Short with 1.0585 as target.
Technical Recommendation: Stay Short.
                                                                 EURUSD - Daily                

GBP/USD: Price bounced off the 50 Fib this week with a bullish pin bar. However Sterling appears to be stuck in a wide long term channel (1.20-1.27) and we are still close to the top of it so any bullishness shoudl be short lived.
Technical Recommendation: Stand aside.
                                                                 GBPUSD - Daily
                                                                                                                 Back to Top

► AUD/USD: we still expect a push to 0.7740.
Technical Recommendation: Look for market to reach 0.7740.
                                                                 AUDUSD - Daily
                                                                                          Back to Top

► USDJPY: Market reached the 38.2 Fib and a bounce is likely with 115.00 area as target.
Technical Recommendation: Look for price to test 115.00.
                                                                  USDJPY - Daily
                                                                Back to Top

GOLD: lately and in the Weekly Bonus Video we have been suggesting price was likely to test the 50 Fib level at 1230 and possibly 1240 above that where we would expect a pause. This happened this week. And with a weekly bearish pin bar forming we suggest to start looking at the Short side.
Technical Recommendation: Looking to go Short.
                                                               XAUUSD - Weekly

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