| Pre European Open, Daily Technical Analysis Tuesday, January 05, 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: under pressure. |
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| | | Pivot: 1.0865
Most Likely Scenario: short positions below 1.0865 with targets @ 1.078 & 1.0755 in extension.
Alternative scenario: above 1.0865 look for further upside with 1.0895 & 1.094 as targets.
Comment: the RSI lacks upward momentum.
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| | GBP/USD Intraday: key resistance at 1.4755. |
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| | | Pivot: 1.4755
Most Likely Scenario: short positions below 1.4755 with targets @ 1.466 & 1.463 in extension.
Alternative scenario: above 1.4755 look for further upside with 1.479 & 1.4815 as targets.
Comment: even though a continuation of the technical rebound cannot be ruled out, its extent should be limited.
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| | USD/JPY Intraday: the upside prevails. |
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| | | Pivot: 119.15
Most Likely Scenario: long positions above 119.15 with targets @ 119.95 & 120.45 in extension.
Alternative scenario: below 119.15 look for further downside with 118.7 & 118.4 as targets.
Comment: the RSI is bullish and calls for further upside.
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| | AUD/USD Intraday: key resistance at 0.724. |
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| | | Pivot: 0.724
Most Likely Scenario: short positions below 0.724 with targets @ 0.715 & 0.713 in extension.
Alternative scenario: above 0.724 look for further upside with 0.727 & 0.73 as targets.
Comment: even though a continuation of the technical rebound cannot be ruled out, its extent should be limited.
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| | Gold spot Intraday: further advance. |
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| | | Pivot: 1070
Most Likely Scenario: long positions above 1070 with targets @ 1082 & 1086 in extension.
Alternative scenario: below 1070 look for further downside with 1066 & 1063.3 as targets.
Comment: the RSI is mixed to bullish.
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| | Crude Oil (WTI) (G6) Intraday: further upside. |
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| | | Pivot: 36.2
Most Likely Scenario: long positions above 36.2 with targets @ 37.45 & 38.3 in extension.
Alternative scenario: below 36.2 look for further downside with 35.8 & 35.35 as targets.
Comment: a support base at 36.2 has formed and has allowed for a temporary stabilisation.
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