Pre US Open, Daily Technical Analysis   Wednesday, January 20, 2016

Pre US Open, Daily Technical Analysis Wednesday, January 20, 2016

20 January 2016, 12:18
Mohammed Abdulwadud Soubra
0
86

Pre US Open, Daily Technical Analysis   Wednesday, January 20, 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: the upside prevails.
 

  
 Pivot: 1.09

Most Likely Scenario: long positions above 1.09 with targets @ 1.0985 & 1.101 in extension.

Alternative scenario: below 1.09 look for further downside with 1.0855 & 1.0835 as targets.

Comment: the RSI lacks downward momentum.

  
 
 
 GBP/USD Intraday: under pressure.
 
 
  
 Pivot: 1.423

Most Likely Scenario: short positions below 1.423 with targets @ 1.4125 & 1.408 in extension.

Alternative scenario: above 1.423 look for further upside with 1.427 & 1.432 as targets.

Comment: a break below 1.4125 would trigger a drop towards 1.408.

  
 
 
 USD/JPY Intraday: under pressure.
 
 
  
 Pivot: 117.3

Most Likely Scenario: short positions below 117.3 with targets @ 115.9 & 115.55 in extension.

Alternative scenario: above 117.3 look for further upside with 117.65 & 118.1 as targets.

Comment: the RSI is mixed to bearish.

  
 
 
 AUD/USD Intraday: under pressure.
 
 
  
 Pivot: 0.69

Most Likely Scenario: short positions below 0.69 with targets @ 0.6825 & 0.68 in extension.

Alternative scenario: above 0.69 look for further upside with 0.693 & 0.6955 as targets.

Comment: the RSI is mixed to bearish.

  
 
 
 Gold spot Intraday: further upside.
 
 
  
 Pivot: 1090

Most Likely Scenario: long positions above 1090 with targets @ 1097.5 & 1106 in extension.

Alternative scenario: below 1090 look for further downside with 1086 & 1083 as targets.

Comment: the RSI is bullish and calls for further upside.

  
 
 
 Crude Oil (WTI) (G6) Intraday: the downside prevails.
 
 
  
 Pivot: 28.5

Most Likely Scenario: short positions below 28.5 with targets @ 27 & 26.2 in extension.

Alternative scenario: above 28.5 look for further upside with 29.2 & 30 as targets.

Comment: the break below 28.5 is a negative signal that has opened a path to 27.

  
 
Share it with friends: