Pre US Open, Daily Technical Analysis Tuesday, January 12, 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 1.0905. |
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| | | Pivot: 1.0905
Most Likely Scenario: short positions below 1.0905 with targets @ 1.0825 & 1.08 in extension.
Alternative scenario: above 1.0905 look for further upside with 1.0945 & 1.097 as targets.
Comment: the RSI is badly directed.
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| GBP/USD Intraday: under pressure. |
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| | | Pivot: 1.456
Most Likely Scenario: short positions below 1.456 with targets @ 1.445 & 1.44 in extension.
Alternative scenario: above 1.456 look for further upside with 1.46 & 1.4645 as targets.
Comment: the RSI is badly directed.
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| USD/JPY Intraday: key resistance at 117.95. |
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| | | Pivot: 117.95
Most Likely Scenario: short positions below 117.95 with targets @ 117.15 & 116.7 in extension.
Alternative scenario: above 117.95 look for further upside with 118.8 & 119.3 as targets.
Comment: the upward potential is likely to be limited by the resistance at 117.95.
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| AUD/USD Intraday: under pressure. |
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| | | Pivot: 0.7005
Most Likely Scenario: short positions below 0.7005 with targets @ 0.6925 & 0.69 in extension.
Alternative scenario: above 0.7005 look for further upside with 0.704 & 0.7085 as targets.
Comment: the RSI lacks upward momentum.
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| Gold spot Intraday: key resistance at 1105. |
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| | | Pivot: 1105
Most Likely Scenario: short positions below 1105 with targets @ 1091 & 1086 in extension.
Alternative scenario: above 1105 look for further upside with 1114 & 1121 as targets.
Comment: even though a continuation of the technical rebound cannot be ruled out, its extent should be limited.
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| Crude Oil (WTI) (G6) Intraday: capped by a negative trend line. |
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| | | Pivot: 32.3
Most Likely Scenario: short positions below 32.3 with targets @ 30 & 29.05 in extension.
Alternative scenario: above 32.3 look for further upside with 33.78 & 35.15 as targets.
Comment: as long as 32.3 is resistance, look for choppy price action with a bearish bias.
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