| Pre European Open, Daily Technical Analysis Thursday, January 07, 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: the upside prevails. |
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| |  | | | Pivot: 1.0745
Most Likely Scenario: long positions above 1.0745 with targets @ 1.084 & 1.0885 in extension.
Alternative scenario: below 1.0745 look for further downside with 1.0705 & 1.067 as targets.
Comment: the RSI is supported by a rising trend line.
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| | GBP/USD Intraday: the downside prevails. |
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| |  | | | Pivot: 1.468
Most Likely Scenario: short positions below 1.468 with targets @ 1.459 & 1.456 in extension.
Alternative scenario: above 1.468 look for further upside with 1.4725 & 1.4755 as targets.
Comment: The pair is trading within a bearish channel.
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| | USD/JPY Intraday: the downside prevails. |
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| |  | | | Pivot: 118.8
Most Likely Scenario: short positions below 118.8 with targets @ 117.6 & 117.25 in extension.
Alternative scenario: above 118.8 look for further upside with 119.3 & 119.7 as targets.
Comment: the RSI is mixed to bearish.
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| | AUD/USD Intraday: the downside prevails. |
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| |  | | | Pivot: 0.709
Most Likely Scenario: short positions below 0.709 with targets @ 0.7015 & 0.699 in extension.
Alternative scenario: above 0.709 look for further upside with 0.7135 & 0.7175 as targets.
Comment: a break below 0.7015 would trigger a drop towards 0.699.
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| | Gold spot Intraday: further advance. |
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| |  | | | Pivot: 1086
Most Likely Scenario: long positions above 1086 with targets @ 1104 & 1110 in extension.
Alternative scenario: below 1086 look for further downside with 1082 & 1075 as targets.
Comment: the RSI is mixed to bullish.
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| | Crude Oil (WTI) (G6) Intraday: under pressure. |
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| |  | | | Pivot: 34.3
Most Likely Scenario: short positions below 34.3 with targets @ 32.05 & 31 in extension.
Alternative scenario: above 34.3 look for further upside with 35.15 & 35.78 as targets.
Comment: the RSI has broken down its 30 level.
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