Pre US Open, Daily Technical Analysis Wednesday, January 06, 2016
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Pre US Open, Daily Technical Analysis Wednesday, January 06, 2016

6 January 2016, 12:20
Mohammed Abdulwadud Soubra
Mohammed Abdulwadud Soubra
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Pre US Open, Daily Technical Analysis   Wednesday, January 06, 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: 1.0775

Most Likely Scenario: short positions below 1.0775 with targets @ 1.0705 & 1.067 in extension.

Alternative scenario: above 1.0775 look for further upside with 1.08 & 1.084 as targets.

Comment: the RSI is mixed to bearish.

  
 
 
 GBP/USD Intraday: the downside prevails.
 
 
  
 Pivot: 1.47

Most Likely Scenario: short positions below 1.47 with targets @ 1.459 & 1.456 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.

  
 
 
 USD/JPY Intraday: the downside prevails.
 

  
 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.

  
 
 
 AUD/USD Intraday: the downside prevails.
 
 
  
 Pivot: 0.7135

Most Likely Scenario: short positions below 0.7135 with targets @ 0.703 & 0.7015 in extension.

Alternative scenario: above 0.7135 look for further upside with 0.7175 & 0.7215 as targets.

Comment: the RSI is badly directed.

  
 
 
 Gold spot Intraday: further advance.
 


 
  
 Pivot: 1074.7

Most Likely Scenario: long positions above 1074.7 with targets @ 1090 & 1094 in extension.

Alternative scenario: below 1074.7 look for further downside with 1072.5 & 1070 as targets.

Comment: the RSI is well directed.

  
 
 
 Crude Oil (WTI) (G6) Intraday: under pressure.
 
 
  
 Pivot: 36.4

Most Likely Scenario: short positions below 36.4 with targets @ 35.03 & 34.65 in extension.

Alternative scenario: above 36.4 look for further upside with 37.1 & 37.45 as targets.

Comment: the RSI is capped by a declining trend line.