| Pre European Open, Daily Technical Analysis Wednesday, February 10, 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 bias remains bullish. |
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| |  | | | Pivot: 1.1235
Most Likely Scenario: long positions above 1.1235 with targets @ 1.1340 & 1.1400 in extension.
Alternative scenario: below 1.1235 look for further downside with 1.1160 & 1.1080 as targets.
Comment: technically the RSI is above its neutrality area at 50.
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| | GBP/USD Intraday: the bias remains bullish. |
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| |  | | | Pivot: 1.4435
Most Likely Scenario: long positions above 1.4435 with targets @ 1.4515 & 1.4550 in extension.
Alternative scenario: below 1.4435 look for further downside with 1.4375 & 1.4325 as targets.
Comment: the RSI is mixed to bullish.
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| | USD/JPY Intraday: capped by a negative trend line. |
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| |  | | | Pivot: 115.25
Most Likely Scenario: short positions below 115.25 with targets @ 114.20 & 113.55 in extension.
Alternative scenario: above 115.25 look for further upside with 115.85 & 116.50 as targets.
Comment: the RSI is mixed to bearish.
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| | AUD/USD Intraday: bullish bias above 0.7015. |
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| |  | | | Pivot: 0.7015
Most Likely Scenario: long positions above 0.7015 with targets @ 0.7100 & 0.7130 in extension.
Alternative scenario: below 0.7015 look for further downside with 0.6970 & 0.6920 as targets.
Comment: the RSI lacks downward momentum.
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| | Gold spot Intraday: the upside prevails. |
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| |  | | | Pivot: 1174.50
Most Likely Scenario: long positions above 1174.50 with targets @ 1211.50 & 1222.00 in extension.
Alternative scenario: below 1174.50 look for further downside with 1164.00 & 1152.25 as targets.
Comment: the RSI lacks downward momentum.
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| | Crude Oil (WTI) (H6) Intraday: under pressure. |
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| |  | | | Pivot: 29.27
Most Likely Scenario: short positions below 29.27 with targets @ 27.40 & 26.75 in extension.
Alternative scenario: above 29.27 look for further upside with 30.59 & 31.35 as targets.
Comment: as long as 29.27 is resistance, look for choppy price action with a bearish bias.
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