End of day Technical Report – 11 Nov 2015
End of Day Technical Analysis Report for:
EURUSD, GBPUSD, AUDUSD, USDJPY
GOLD, SP500 and Others
► GBP/USD: yesterday we started selling using a ladder entry system in case the retracement goes as far as the 50 Fib level of the recent fall. We also said that very Short term there’s also a possibility of a quick Long. Today we took that Long in 1/2 Risk also as a hedge against the Short position we are building, in which the 2nd Limit Sell order was filled today. We hope to see a rotation at or near our 3rd Sell entry order where ideally we will take profit on the Long hedge, which also serves as a trade for our shorter term trading members.If the market does resume to the downside next minor support is at 1.4950 and nothing below that until 1.4635.
Technical Recommendation: We are both Short and Long!
► USDJPY: we expect the market to reach 124.25-125.80 prior resistance. So we are looking for any buy signals on a retracement with good R:R. After today we may see a larger retracement. Patience is required here.
Technical Recommendation: Looking to go Long on a retracement.
► GOLD: we still expect price to reach the key support area 1070-1080 which is ever closer. Would not be surprised to see it happen in the last 2 sessions of this week.Technical Recommendation: Re-assessing.
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