CRUDE OIL ANALYSIS AND THE MAJORS

CRUDE OIL ANALYSIS AND THE MAJORS

6 November 2015, 09:30
Mohammad Soubra
0
41

EUR/USD Intraday: key resistance at 1.091.
 

  
 Pivot: 1.091

Most Likely Scenario: Short positions below 1.091 with targets @ 1.083 & 1.081 in extension.

Alternative scenario: Above 1.091 look for further upside with 1.0945 & 1.0985 as targets.

Comment: As long as the resistance at 1.091 is not surpassed, the risk of the break below 1.083 remains high. 

  
 
 
 GBP/USD Intraday: the downside prevails.
 

  
 Pivot: 1.5275

Most Likely Scenario: Short positions below 1.5275 with targets @ 1.518 & 1.514 in extension.

Alternative scenario: Above 1.5275 look for further upside with 1.533 & 1.537 as targets.

Comment: The RSI is mixed to bearish.

  
 
 
 USD/JPY Intraday: the bias remains bullish.
 

  
 Pivot: 121.35

Most Likely Scenario: Long positions above 121.35 with targets @ 122 & 122.45 in extension.

Alternative scenario: Below 121.35 look for further downside with 121.1 & 120.9 as targets.

Comment: Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

  
 
 
 AUD/USD Intraday: under pressure.
 

  
 Pivot: 0.7175

Most Likely Scenario: Short positions below 0.7175 with targets @ 0.712 & 0.709 in extension.

Alternative scenario: Above 0.7175 look for further upside with 0.72 & 0.7225 as targets.

Comment: As long as the resistance at 0.7175 is not surpassed, the risk of the break below 0.712 remains high. 

  
 
 
 Gold spot Intraday: under pressure.
 

  
 Pivot: 1114

Most Likely Scenario: Short positions below 1114 with targets @ 1098 & 1093 in extension.

Alternative scenario: Above 1114 look for further upside with 1121 & 1130 as targets.

Comment: As long as 1114 is resistance, likely decline to 1098.

  
 
 
 Crude Oil (WTI) (Z5) Intraday: under pressure.
 

  
 Pivot: 46.19

Most Likely Scenario: Short positions below 46.19 with targets @ 44.88 & 44.44 in extension.

Alternative scenario: Above 46.19 look for further upside with 46.65 & 47.16 as targets.

Comment: As long as 46.19 is resistance, likely decline to 44.88.

  
 
 

Share it with friends: