Pre US Open, Daily Technical Analysis   Tuesday, January 05, 2016

Pre US Open, Daily Technical Analysis Tuesday, January 05, 2016

5 January 2016, 12:36
Mohammed Abdulwadud Soubra
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Pre US Open, Daily Technical Analysis   Tuesday, January 05, 2016

 





 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: 1.0845

Most Likely Scenario: short positions below 1.0845 with targets @ 1.0755 & 1.0715 in extension.

Alternative scenario: above 1.0845 look for further upside with 1.0865 & 1.0895 as targets.

Comment: the RSI is badly directed.

  
 
 
 GBP/USD Intraday: under pressure.
 

 
  
 Pivot: 1.4725

Most Likely Scenario: short positions below 1.4725 with targets @ 1.466 & 1.463 in extension.

Alternative scenario: above 1.4725 look for further upside with 1.4755 & 1.479 as targets.

Comment: the RSI is badly directed.

  
 
 
 USD/JPY Intraday: under pressure.
 


 
  
 Pivot: 119.7

Most Likely Scenario: short positions below 119.7 with targets @ 118.7 & 118.4 in extension.

Alternative scenario: above 119.7 look for further upside with 119.95 & 120.45 as targets.

Comment: the RSI is badly directed.

  
 
 
 AUD/USD Intraday: key resistance at 0.724.
 


 
  
 Pivot: 0.724

Most Likely Scenario: short positions below 0.724 with targets @ 0.715 & 0.713 in extension.

Alternative scenario: above 0.724 look for further upside with 0.727 & 0.73 as targets.

Comment: the RSI is badly directed.

  
 
 
 Gold spot Intraday: further advance.
 


 
  
 Pivot: 1070

Most Likely Scenario: long positions above 1070 with targets @ 1082 & 1086 in extension.

Alternative scenario: below 1070 look for further downside with 1066 & 1063.3 as targets.

Comment: the RSI is mixed to bullish.

  
 
 
 Crude Oil (WTI) (G6) Intraday: bullish bias above 36.2.
 


 
  
 Pivot: 36.2

Most Likely Scenario: long positions above 36.2 with targets @ 37.45 & 37.88 in extension.

Alternative scenario: below 36.2 look for further downside with 35.8 & 35.35 as targets.

Comment: a support base at 36.2 has formed and has allowed for a temporary stabilisation.

  
 
 
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