| Pre European Open, Daily Technical Analysis Friday, January 15, 2016 |
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| | | Please note that due to market volatility, some of the below sight prices may have already been reached and scenarios played out. | |
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| | EUR/USD Intraday: key resistance at 1.0895. |
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| |  | | | Pivot: 1.0895
Most Likely Scenario: short positions below 1.0895 with targets @ 1.0835 & 1.08 in extension.
Alternative scenario: above 1.0895 look for further upside with 1.0945 & 1.0975 as targets.
Comment: the upward potential is likely to be limited by the resistance at 1.0895.
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| | GBP/USD Intraday: the bias remains bullish. |
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| |  | | | Pivot: 1.435
Most Likely Scenario: long positions above 1.435 with targets @ 1.443 & 1.4475 in extension.
Alternative scenario: below 1.435 look for further downside with 1.43 & 1.4225 as targets.
Comment: the RSI is mixed to bullish.
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| | USD/JPY Intraday: key resistance at 118.35. |
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| |  | | | Pivot: 118.35
Most Likely Scenario: short positions below 118.35 with targets @ 117.55 & 117.2 in extension.
Alternative scenario: above 118.35 look for further upside with 118.6 & 118.85 as targets.
Comment: the RSI is mixed to bearish.
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| | AUD/USD Intraday: under pressure. |
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| |  | | | Pivot: 0.7
Most Likely Scenario: short positions below 0.7 with targets @ 0.6905 & 0.6865 in extension.
Alternative scenario: above 0.7 look for further upside with 0.704 & 0.7065 as targets.
Comment: the RSI is badly directed.
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| | Gold spot Intraday: capped by a negative trend line. |
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| |  | | | Pivot: 1084
Most Likely Scenario: short positions below 1084 with targets @ 1070 & 1063 in extension.
Alternative scenario: above 1084 look for further upside with 1089 & 1095 as targets.
Comment: the RSI lacks upward momentum.
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| | Crude Oil (WTI) (G6) Intraday: key resistance at 31.6. |
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| |  | | | Pivot: 31.6
Most Likely Scenario: short positions below 31.6 with targets @ 30 & 29.05 in extension.
Alternative scenario: above 31.6 look for further upside with 32.2 & 33.15 as targets.
Comment: as long as 31.6 is resistance, look for choppy price action with a bearish bias.
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