Pre European Open, Daily Technical Analysis   Tuesday, January 19, 2016

Pre European Open, Daily Technical Analysis Tuesday, January 19, 2016

19 January 2016, 08:26
Mohammed Abdulwadud Soubra
1
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 Pre European Open, Daily Technical Analysis   Tuesday, January 19, 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: 1.091

Most Likely Scenario: short positions below 1.091 with targets @ 1.087 & 1.0835 in extension.

Alternative scenario: above 1.091 look for further upside with 1.0945 & 1.0985 as targets.

Comment: as long as the resistance at 1.091 is not surpassed, the risk of the break below 1.087 remains high. 

  
 
 
 GBP/USD Intraday: the downside prevails.
 
 
  
 Pivot: 1.432

Most Likely Scenario: short positions below 1.432 with targets @ 1.4225 & 1.4185 in extension.

Alternative scenario: above 1.432 look for further upside with 1.436 & 1.44 as targets.

Comment: a break below 1.4225 would trigger a drop towards 1.4185.

  
 
 
 USD/JPY Intraday: the bias remains bullish.
 
 
  
 Pivot: 117.2

Most Likely Scenario: long positions above 117.2 with targets @ 117.95 & 118.35 in extension.

Alternative scenario: below 117.2 look for further downside with 116.85 & 116.5 as targets.

Comment: technically the RSI is above its neutrality area at 50.

  
 
 
 AUD/USD Intraday: under pressure.
 
 
  
 Pivot: 0.6915

Most Likely Scenario: short positions below 0.6915 with targets @ 0.685 & 0.6825 in extension.

Alternative scenario: above 0.6915 look for further upside with 0.696 & 0.7 as targets.

Comment: the RSI lacks upward momentum.

  
 
 
 Gold spot Intraday: bullish bias above 1085.
 
 
  
 Pivot: 1085

Most Likely Scenario: long positions above 1085 with targets @ 1097 & 1106 in extension.

Alternative scenario: below 1085 look for further downside with 1080 & 1076 as targets.

Comment: the RSI is mixed with a bullish bias.

  
 
 
 Crude Oil (WTI) (G6) Intraday: key resistance at 30.
 


  
 Pivot: 30

Most Likely Scenario: short positions below 30 with targets @ 28.35 & 28 in extension.

Alternative scenario: above 30 look for further upside with 30.75 & 31.6 as targets.

Comment: as long as 30 is resistance, look for choppy price action with a bearish bias.

  
 
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