| Pre European Open, Daily Technical Analysis Friday, February 12, 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: the bias remains bullish. |
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| | | Pivot: 1.1265
Most Likely Scenario: long positions above 1.1265 with targets @ 1.1375 & 1.1400 in extension.
Alternative scenario: below 1.1265 look for further downside with 1.1220 & 1.1160 as targets.
Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
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| | GBP/USD Intraday: under pressure. |
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| | | Pivot: 1.4515
Most Likely Scenario: short positions below 1.4515 with targets @ 1.4435 & 1.4380 in extension.
Alternative scenario: above 1.4515 look for further upside with 1.4570 & 1.4615 as targets.
Comment: as long as 1.4515 is resistance, expect a return to 1.4435.
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| | USD/JPY Intraday: under pressure. |
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| | | Pivot: 113.10
Most Likely Scenario: short positions below 113.10 with targets @ 111.00 & 110.25 in extension.
Alternative scenario: above 113.10 look for further upside with 114.20 & 115.25 as targets.
Comment: the RSI lacks upward momentum.
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| | AUD/USD Intraday: the upside prevails. |
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| | | Pivot: 0.7065
Most Likely Scenario: long positions above 0.7065 with targets @ 0.7150 & 0.7170 in extension.
Alternative scenario: below 0.7065 look for further downside with 0.7025 & 0.6985 as targets.
Comment: the RSI is mixed to bullish.
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| | Gold spot Intraday: further advance. |
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| | | Pivot: 1229.50
Most Likely Scenario: long @ 1239.60 with targets @ 1258.00 & 1274.00 in extension.
Alternative scenario: below 1229.50 look for further downside with 1215.00 & 1205.00 as targets.
Comment: the RSI is mixed to bullish.
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| | Crude Oil (WTI) (H6) Intraday: caution. |
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| | | Pivot: 27.71
Most Likely Scenario: short positions below 27.71 with targets @ 26.00 & 25.38 in extension.
Alternative scenario: above 27.71 look for further upside with 28.25 & 28.73 as targets.
Comment: the index currently faces a challenging resistance area at 27.71.
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