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Pre US Open, Daily Technical Analysis Wednesday, December 30, 2015

30 December 2015, 13:00

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Pre US Open, Daily Technical Analysis Wednesday, December 30, 2015

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: under pressure.


	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 lacks upward momentum.

GBP/USD Intraday: key resistance at 1.487.


	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: the RSI lacks upward momentum.

USD/JPY Intraday: key resistance at 120.75.


	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 lacks upward momentum.

AUD/USD Intraday: bullish bias above 0.726.


	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.

Gold spot Intraday: capped by a negative trend line.


	Pivot: 1074 Most Likely Scenario: short positions below 1074 with targets @ 1064 & 1062 in extension. Alternative scenario: above 1074 look for further upside with 1077 & 1081.5 as targets. Comment: the RSI broke below a rising trend line.

Crude Oil (WTI) (G6) Intraday: intraday support around 36.6.


	Pivot: 36.6 Most Likely Scenario: long positions above 36.6 with targets @ 37.3 & 37.95 in extension. Alternative scenario: below 36.6 look for further downside with 36.3 & 36.1 as targets. Comment: a support base at 36.6 has formed and has allowed for a temporary stabilisation.