Pre European Open, Daily Technical Analysis Friday, January 22, 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: under pressure. |
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| | Pivot: 1.0895
Most Likely Scenario: short positions below 1.0895 with targets @ 1.0805 & 1.0775 in extension.
Alternative scenario: above 1.0895 look for further upside with 1.092 & 1.094 as targets.
Comment: the RSI is bearish and calls for further downside.
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| GBP/USD Intraday: the bias remains bullish. |
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| | | Pivot: 1.4125
Most Likely Scenario: long positions above 1.4125 with targets @ 1.427 & 1.4325 in extension.
Alternative scenario: below 1.4125 look for further downside with 1.408 & 1.4005 as targets.
Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
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| USD/JPY Intraday: the upside prevails. |
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| | | Pivot: 117.1
Most Likely Scenario: long positions above 117.1 with targets @ 118.35 & 118.6 in extension.
Alternative scenario: below 117.1 look for further downside with 116.6 & 116.2 as targets.
Comment: the RSI is well directed.
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| AUD/USD Intraday: the upside prevails. |
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| | | Pivot: 0.6955
Most Likely Scenario: long positions above 0.6955 with targets @ 0.704 & 0.7065 in extension.
Alternative scenario: below 0.6955 look for further downside with 0.6925 & 0.688 as targets.
Comment: technically the RSI is above its neutrality area at 50.
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| Gold spot Intraday: bullish bias above 1093.5. |
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| | | Pivot: 1093.5
Most Likely Scenario: long positions above 1093.5 with targets @ 1106 & 1110 in extension.
Alternative scenario: below 1093.5 look for further downside with 1090.5 & 1086 as targets.
Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
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| Crude Oil (WTI) (H6) Intraday: further advance. |
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| | | Pivot: 29
Most Likely Scenario: long positions above 29 with targets @ 31.2 & 32 in extension.
Alternative scenario: below 29 look for further downside with 28.4 & 27.6 as targets.
Comment: the RSI is bullish and calls for further advance.
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