| Pre European Open, Daily Technical Analysis Wednesday, January 06, 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: key resistance at 1.08. |
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| |  | | | Pivot: 1.08
Most Likely Scenario: short positions below 1.08 with targets @ 1.0705 & 1.067 in extension.
Alternative scenario: above 1.08 look for further upside with 1.084 & 1.0865 as targets.
Comment: technically the RSI is below its neutrality area at 50.
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| | GBP/USD Intraday: the downside prevails. |
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| |  | | | Pivot: 1.47
Most Likely Scenario: short positions below 1.47 with targets @ 1.4635 & 1.459 in extension.
Alternative scenario: above 1.47 look for further upside with 1.4725 & 1.4755 as targets.
Comment: the RSI is mixed to bearish.
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| | USD/JPY Intraday: the downside prevails. |
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| |  | | | Pivot: 119.3
Most Likely Scenario: short positions below 119.3 with targets @ 118.25 & 117.95 in extension.
Alternative scenario: above 119.3 look for further upside with 119.7 & 119.95 as targets.
Comment: the RSI is mixed to bearish.
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| | AUD/USD Intraday: the downside prevails. |
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| |  | | | Pivot: 0.7175
Most Likely Scenario: short positions below 0.7175 with targets @ 0.71 & 0.707 in extension.
Alternative scenario: above 0.7175 look for further upside with 0.7215 & 0.724 as targets.
Comment: the RSI is badly directed.
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| | Gold spot Intraday: bullish bias above 1074.7. |
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| |  | | | Pivot: 1074.7
Most Likely Scenario: long positions above 1074.7 with targets @ 1082 & 1083.6 in extension.
Alternative scenario: below 1074.7 look for further downside with 1072.5 & 1070 as targets.
Comment: a support base at 1074.7 has formed and has allowed for a temporary stabilisation.
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| | Crude Oil (WTI) (G6) Intraday: key resistance at 37. |
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| |  | | | Pivot: 37
Most Likely Scenario: short positions below 37 with targets @ 35.73 & 35.35 in extension.
Alternative scenario: above 37 look for further upside with 37.45 & 38.3 as targets.
Comment: the RSI is mixed with a bearish bias.
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