| Pre US Open, Daily Technical Analysis Monday, May 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: under pressure. |
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| | | | | Pivot: 1.1445
Most Likely Scenario: short positions below 1.1445 with targets @ 1.1370 & 1.1310 in extension.
Alternative scenario: above 1.1445 look for further upside with 1.1480 & 1.1510 as targets.
Comment: a break below 1.1370 would trigger a drop towards 1.1310.
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| | GBP/USD Intraday: key resistance at 1.4470. |
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| | | | | Pivot: 1.4470
Most Likely Scenario: short @ 1.4445 with targets @ 1.4365 & 1.4310 in extension.
Alternative scenario: above 1.4470 look for further upside with 1.4530 & 1.4575 as targets.
Comment: the RSI lacks upward momentum.
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| | USD/JPY Intraday: further advance. |
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| | | | | Pivot: 107.00
Most Likely Scenario: long positions above 107.00 with targets @ 108.25 & 108.70 in extension.
Alternative scenario: below 107.00 look for further downside with 106.50 & 106.10 as targets.
Comment: the RSI is well directed.
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| | AUD/USD Intraday: key resistance at 0.7450. |
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| | | | | Pivot: 0.7450
Most Likely Scenario: short positions below 0.7450 with targets @ 0.7260 & 0.7190 in extension.
Alternative scenario: above 0.7450 look for further upside with 0.7515 & 0.7550 as targets.
Comment: the RSI is badly directed.
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| | Gold spot Intraday: under pressure. |
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| | | | | Pivot: 1285.10
Most Likely Scenario: short positions below 1285.10 with targets @ 1268.60 & 1261.90 in extension.
Alternative scenario: above 1285.10 look for further upside with 1289.50 & 1295.75 as targets.
Comment: the RSI broke below a rising trend line.
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| | Crude Oil (WTI) (M6) Intraday: rebound expected. |
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| | | | | Pivot: 44.50
Most Likely Scenario: long positions above 44.50 with targets @ 46.08 & 46.60 in extension.
Alternative scenario: below 44.50 look for further downside with 43.64 & 43.14 as targets.
Comment: a support base at 44.50 has formed and has allowed for a temporary stabilisation.
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