Pre US Open, Daily Technical Analysis   Thursday, January 14, 2016

Pre US Open, Daily Technical Analysis Thursday, January 14, 2016

14 January 2016, 14:10
Mohammed Abdulwadud Soubra
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Pre US Open, Daily Technical Analysis   Thursday, January 14, 2016

 





 Please note that due to market volatility, some of the below sight prices may have already been reached and scenarios played out. 
 
 EUR/USD Intraday: the upside prevails.
 


 
  
 Pivot: 1.084

Most Likely Scenario: long positions above 1.084 with targets @ 1.0945 & 1.0975 in extension.

Alternative scenario: below 1.084 look for further downside with 1.08 & 1.077 as targets.

Comment: The pair has broken above the upper boundary of a bearish channel and remains on the upside.

  
 
 
 GBP/USD Intraday: the downside prevails.
 
 
  
 Pivot: 1.443

Most Likely Scenario: short positions below 1.443 with targets @ 1.435 & 1.43 in extension.

Alternative scenario: above 1.443 look for further upside with 1.4475 & 1.4515 as targets.

Comment: the RSI is badly directed.

  
 
 
 USD/JPY Intraday: the upside prevails.
 
 
  
 Pivot: 117.6

Most Likely Scenario: long positions above 117.6 with targets @ 118.35 & 118.6 in extension.

Alternative scenario: below 117.6 look for further downside with 117.2 & 116.95 as targets.

Comment: the RSI is mixed to bullish.

  
 
 
 AUD/USD Intraday: the downside prevails.
 
 
  
 Pivot: 0.6975

Most Likely Scenario: short positions below 0.6975 with targets @ 0.6895 & 0.6865 in extension.

Alternative scenario: above 0.6975 look for further upside with 0.7005 & 0.704 as targets.

Comment: the RSI is mixed to bearish.

  
 
 
 Gold spot Intraday: continuation of the rebound.
 
 
  
 Pivot: 1084

Most Likely Scenario: long positions above 1084 with targets @ 1099 & 1105 in extension.

Alternative scenario: below 1084 look for further downside with 1075 & 1070 as targets.

Comment: the RSI is mixed to bullish.

  
 
 
 Crude Oil (WTI) (G6) Intraday: under pressure.
 
 
  
 Pivot: 32

Most Likely Scenario: short positions below 32 with targets @ 30 & 29.05 in extension.

Alternative scenario: above 32 look for further upside with 33.15 & 34.3 as targets.

Comment: as long as 32 is resistance, look for choppy price action with a bearish bias.

  
 
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