Pre US Open, Daily Technical Analysis   Tuesday, January 12, 2016

Pre US Open, Daily Technical Analysis Tuesday, January 12, 2016

12 January 2016, 12:23
Mohammed Abdulwadud Soubra
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Pre US Open, Daily Technical Analysis   Tuesday, January 12, 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: key resistance at 1.0905.
 
 
  
 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.

  
 
 
 GBP/USD Intraday: under pressure.
 
 
  
 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.

  
 
 
 USD/JPY Intraday: key resistance at 117.95.
 

  
 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.

  
 
 
 AUD/USD Intraday: under pressure.
 
 
  
 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.

  
 
 
 Gold spot Intraday: key resistance at 1105.
 


 
  
 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.

  
 
 
 Crude Oil (WTI) (G6) Intraday: capped by a negative trend line.
 
 
  
 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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