Daily Market Commentary: September 22nd 2016

EURUSD – The EURUSD moved higher today after reversing early-session losses. This pair is clearly indecisive right now and we are going to stand aside until an obvious signal forms. We are still more bearish biased whilst under overhead resistance levels

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GBPUSD – The GBPUSD continues to grind sideways to lower. As we have been for weeks and months, we remain bearish and can watch for 1hr, 4hr or daily chart price action sell signals on any strength.

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USDJPY – Huge bearish reversal today in the USDJPY. Hopefully a lot of you caught this trade as we discussed the pin bar from sept. 14th as a sell signal recently. We expect more downside in this pair and those who missed this trade can watch for upside retraces (strength) to get short.

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GOLD – Gold shot higher today from the key support area near 1310 – 1300 that we have been discussing for months now as a buy area. Those not long can continue to watch for weakness to get long whilst above 1300.00

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