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

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

19 January 2016, 12:32
Mohammed Abdulwadud Soubra
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Pre US 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 @ 1.0835 & 1.08 in extension.

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

Comment: the RSI is badly directed.

  
 
 
 GBP/USD Intraday: rebound.
 
 
  
 Pivot: 1.4225

Most Likely Scenario: long positions above 1.4225 with targets @ 1.436 & 1.44 in extension.

Alternative scenario: below 1.4225 look for further downside with 1.4185 & 1.415 as targets.

Comment: the RSI is well directed.

  
 
 
 USD/JPY Intraday: the bias remains bullish.
 


 
  
 Pivot: 117.2

Most Likely Scenario: long positions above 117.2 with targets @ 118.35 & 118.75 in extension.

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

Comment: the RSI is well directed.

  
 
 
 AUD/USD Intraday: the upside prevails.
 

 
  
 Pivot: 0.685

Most Likely Scenario: long positions above 0.685 with targets @ 0.696 & 0.7 in extension.

Alternative scenario: below 0.685 look for further downside with 0.6825 & 0.6795 as targets.

Comment: the RSI is well directed.

  
 
 
 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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