| Pre European Open, Daily Technical Analysis Wednesday, December 30, 2015 |
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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: 1.096
Most Likely Scenario: short positions below 1.096 with targets @ 1.09 & 1.0865 in extension.
Alternative scenario: above 1.096 look for further upside with 1.099 & 1.101 as targets.
Comment: the RSI is capped by a declining trend line.
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| | GBP/USD Intraday: key resistance at 1.487. |
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| | | | | Pivot: 1.487
Most Likely Scenario: short positions below 1.487 with targets @ 1.478 & 1.476 in extension.
Alternative scenario: above 1.487 look for further upside with 1.4915 & 1.4945 as targets.
Comment: even though a continuation of the technical rebound cannot be ruled out, its extent should be limited.
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| | USD/JPY Intraday: key resistance at 120.75. |
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| | | | | Pivot: 120.75
Most Likely Scenario: short positions below 120.75 with targets @ 120.2 & 120 in extension.
Alternative scenario: above 120.75 look for further upside with 121 & 121.3 as targets.
Comment: the RSI is badly directed.
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| | AUD/USD Intraday: bullish bias above 0.726. |
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| | | | | Pivot: 0.726
Most Likely Scenario: long positions above 0.726 with targets @ 0.7305 & 0.7335 in extension.
Alternative scenario: below 0.726 look for further downside with 0.724 & 0.7205 as targets.
Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
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| | Gold spot Intraday: capped by a negative trend line. |
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| | | | | Pivot: 1074
Most Likely Scenario: short positions below 1074 with targets @ 1066 & 1064 in extension.
Alternative scenario: above 1074 look for further upside with 1077 & 1081.5 as targets.
Comment: as long as 1074 is resistance, likely decline to 1066.
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| | Crude Oil (WTI) (G6) Intraday: bullish bias above 36.65. |
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| | | | | Pivot: 36.65
Most Likely Scenario: long positions above 36.65 with targets @ 38.28 & 38.53 in extension.
Alternative scenario: below 36.65 look for further downside with 36.3 & 36.1 as targets.
Comment: a support base at 36.65 has formed and has allowed for a temporary stabilisation.
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