Daily Report - 29 Mar 2017

End of Day Technical Analysis Report for:


► EUR/USD: confluent reistance at 1.0870 and the 200 sma has caused the market to retreat as we expected. The retracement is likely to test dynamic support at the 20/50 smas.
Technical Recommendation: Look for market to test 1.0675-1.0720 area of dynamic support.
                                                                 EURUSD - Daily

GBP/USD: similarly to the Euro, but a step ahead, Sterling has retraced to confluent support comprising 50 sma and 1.2385-1.2420  band. Buying came in at these levels causing today's pin bar. There's a good chance of a bounce tomorrow.
Technical Recommendation: Look for a bounce tomorrow.
                                                                 GBPUSD - Daily
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► AUD/USD: the Aussie broke out of the recent consolidation to teh upside today and is now likely to re-test 0.7745 resistance.
Technical Recommendation: Possible re-test of 0.7745.
                                                                 AUDUSD - Daily
                                                                                          Back to Top

► USDJPY: market still pulling but upside capped by 8 ema dynamic resistance. We still expect a downside resumption. We are still STTS Short.
Technical Recommendation: We are Short. Position +150 pips in profit
                                                                  USDJPY - Daily
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GOLD: price stuck between 1260 resistance and 1245 confulent support. A retracement is likely but trade cautiously as it would be against the trend.
Technical Recommendation: Cautiously look for a retracement
                                                               XAUUSD - Daily


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