| Pre US Open, Daily Technical Analysis Thursday, June 09, 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: turning down. |
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| | | | | Pivot: 1.1415
Most Likely Scenario: short positions below 1.1415 with targets @ 1.1340 & 1.1315 in extension.
Alternative scenario: above 1.1415 look for further upside with 1.1445 & 1.1475 as targets.
Comment: the RSI shows downside momentum.
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| | GBP/USD Intraday: turning down. |
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| | | | | Pivot: 1.4530
Most Likely Scenario: short positions below 1.4530 with targets @ 1.4425 & 1.4365 in extension.
Alternative scenario: above 1.4530 look for further upside with 1.4600 & 1.4665 as targets.
Comment: the RSI advocates for further decline.
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| | USD/JPY Intraday: the downside prevails. |
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| | | | | Pivot: 107.15
Most Likely Scenario: short positions below 107.15 with targets @ 106.00 & 105.50 in extension.
Alternative scenario: above 107.15 look for further upside with 107.45 & 107.95 as targets.
Comment: the RSI is mixed to bearish.
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| | AUD/USD Intraday: turning down. |
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| | | | | Pivot: 0.7505
Most Likely Scenario: short positions below 0.7505 with targets @ 0.7415 & 0.7380 in extension.
Alternative scenario: above 0.7505 look for further upside with 0.7545 & 0.7570 as targets.
Comment: the RSI shows downside momentum.
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| | Gold spot Intraday: bullish bias above 1253.50. |
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| | | | | Pivot: 1253.50
Most Likely Scenario: long positions above 1253.50 with targets @ 1276.00 & 1286.00 in extension.
Alternative scenario: below 1253.50 look for further downside with 1246.00 & 1234.50 as targets.
Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
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| | Crude Oil (WTI) (N6) Intraday: bullish bias above 50.95. |
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| | | | | Pivot: 50.95
Most Likely Scenario: long positions above 50.95 with targets @ 51.65 & 52.25 in extension.
Alternative scenario: below 50.95 look for further downside with 50.30 & 49.80 as targets.
Comment: a support base at 50.95 has formed and has allowed for a temporary stabilisation.
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