| Pre US Open, Daily Technical Analysis Monday, November 16, 2015 |
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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 downside prevails. |
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| | | | | Pivot: 1.077
Most Likely Scenario: Short positions below 1.077 with targets @ 1.067 & 1.0625 in extension.
Alternative scenario: Above 1.077 look for further upside with 1.083 & 1.086 as targets.
Comment: As long as 1.077 is resistance, look for choppy price action with a bearish bias.
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| | GBP/USD Intraday: the bias remains bullish. |
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| | | | | Pivot: 1.517
Most Likely Scenario: Long positions above 1.517 with targets @ 1.524 & 1.5275 in extension.
Alternative scenario: Below 1.517 look for further downside with 1.514 & 1.5095 as targets.
Comment: The RSI lacks downward momentum.
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| | USD/JPY Intraday: under pressure. |
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| | | | | Pivot: 123.05
Most Likely Scenario: Short positions below 123.05 with targets @ 122.35 & 122 in extension.
Alternative scenario: Above 123.05 look for further upside with 123.4 & 123.6 as targets.
Comment: As long as 123.05 is resistance, look for choppy price action with a bearish bias.
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| | AUD/USD Intraday: the bias remains bullish. |
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| | | | | Pivot: 0.708
Most Likely Scenario: Long positions above 0.708 with targets @ 0.715 & 0.717 in extension.
Alternative scenario: Below 0.708 look for further downside with 0.704 & 0.7015 as targets.
Comment: Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
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| | Gold spot Intraday: further advance. |
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| | | | | Pivot: 1080
Most Likely Scenario: Long positions above 1080 with targets @ 1103 & 1112 in extension.
Alternative scenario: Below 1080 look for further downside with 1074 & 1067 as targets.
Comment: The RSI is mixed to bullish.
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| | Crude Oil (WTI) (Z5) Intraday: capped by a negative trend line. |
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| | | | | Pivot: 42.2
Most Likely Scenario: Short positions below 42.2 with targets @ 40.08 & 39.2 in extension.
Alternative scenario: Above 42.2 look for further upside with 42.86 & 43.3 as targets.
Comment: As long as 42.2 is resistance, likely decline to 40.08.
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