| Pre European Open, Daily Technical Analysis Wednesday, January 13, 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 downside prevails. |
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| |  | | | Pivot: 1.086
Most Likely Scenario: short positions below 1.086 with targets @ 1.077 & 1.074 in extension.
Alternative scenario: above 1.086 look for further upside with 1.09 & 1.0945 as targets.
Comment: The pair is trading within a bearish channel.
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| | GBP/USD Intraday: caution. |
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| |  | | | Pivot: 1.4475
Most Likely Scenario: short positions below 1.4475 with targets @ 1.44 & 1.435 in extension.
Alternative scenario: above 1.4475 look for further upside with 1.4515 & 1.456 as targets.
Comment: intraday technical indicators are mixed and call for caution.
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| | USD/JPY Intraday: the upside prevails. |
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| |  | | | Pivot: 117.6
Most Likely Scenario: long positions above 117.6 with targets @ 118.45 & 118.8 in extension.
Alternative scenario: below 117.6 look for further downside with 117.2 & 116.7 as targets.
Comment: the RSI broke above a declining trend line.
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| | AUD/USD Intraday: the upside prevails. |
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| |  | | | Pivot: 0.697
Most Likely Scenario: long positions above 0.697 with targets @ 0.704 & 0.7065 in extension.
Alternative scenario: below 0.697 look for further downside with 0.6935 & 0.6915 as targets.
Comment: the RSI is bullish and calls for further advance.
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| | Gold spot Intraday: the downside prevails. |
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| |  | | | Pivot: 1095
Most Likely Scenario: short positions below 1095 with targets @ 1082 & 1075 in extension.
Alternative scenario: above 1095 look for further upside with 1099 & 1105.5 as targets.
Comment: the RSI is capped by a bearish trend line.
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| | Crude Oil (WTI) (G6) Intraday: capped by a negative trend line. |
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| |  | | | Pivot: 32.06
Most Likely Scenario: short positions below 32.06 with targets @ 30 & 29.05 in extension.
Alternative scenario: above 32.06 look for further upside with 33.15 & 34.3 as targets.
Comment: as long as the resistance at 32.06 is not surpassed, the risk of the break below 30 remains high.
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