Daily Market Commentary: September 14th 2016

EURUSD – The EURUSD fell lower today following a bearish pin bar near resistance at 1.1325 that we discussed last week. We aren’t heavily bearish here, but if price remains contained under 1.1340 – 1.1400 we see potential for more downside.

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GBPUSD – The GBPUSD weakened late last week following an inside bar pattern which formed in the resistance / sell-zone up near 1.3375 – 1.3540, which we discussed last Wednesday in our members commentary . We could see price rotate lower from near current levels this week and we remain bearish under 1.3540.

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AUDUSD – The AUDUSD sold-off today as bearish momentum continued following a bearish pin bar sell signal that we discussed in our members trade setups newsletter on Thursday. Anyone not already short can watch for further entry opportunities on any strength / retraces higher in the near-term, targeting support down near 0.7320 area.

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Gold – Price bounced up from 1310 – 1300 key support in Gold recently, a support area that we have been discussing as a buy-zone on a signal or blind entry for weeks now in our recent Gold commentaries. You will also notice that price is following through to the upside after a pin bar buy signal formed last week on the weekly chart time frame. Anyone not already long from this reversal can watch any near-term weakness this week to look to get long.

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S&P500 – Despite a strong rebound on Monday, the S&P500 moved lower again today and price is still looking pretty volatile. We will continue to stand aside until we see a more obvious price action buy signal form from a support level.

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