Pre European Open, Daily Technical Analysis Tuesday, January 26, 2016
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Pre European Open, Daily Technical Analysis Tuesday, January 26, 2016

26 January 2016, 08:13
Mohammed Abdulwadud Soubra
Mohammed Abdulwadud Soubra
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Pre European Open, Daily Technical Analysis   Tuesday, January 26, 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: 1.082

Most Likely Scenario: long positions above 1.082 with targets @ 1.0865 & 1.0895 in extension.

Alternative scenario: below 1.082 look for further downside with 1.0785 & 1.077 as targets.

Comment: The pair is trading within a bullish channel.

  
 
 
 GBP/USD Intraday: under pressure.
 
 
  
 Pivot: 1.4285

Most Likely Scenario: short positions below 1.4285 with targets @ 1.42 & 1.4165 in extension.

Alternative scenario: above 1.4285 look for further upside with 1.431 & 1.436 as targets.

Comment: the RSI is badly directed.

  
 
 
 USD/JPY Intraday: the downside prevails.
 
 
  
 Pivot: 118.85

Most Likely Scenario: short positions below 118.85 with targets @ 117.5 & 117.05 in extension.

Alternative scenario: above 118.85 look for further upside with 119.2 & 119.6 as targets.

Comment: the RSI is mixed to bearish.

  
 
 
 AUD/USD Intraday: the downside prevails.
 
 
  
 Pivot: 0.6995

Most Likely Scenario: short positions below 0.6995 with targets @ 0.6925 & 0.688 in extension.

Alternative scenario: above 0.6995 look for further upside with 0.7025 & 0.7045 as targets.

Comment: a break below 0.6925 would trigger a drop towards 0.688.

  
 
 
 Gold spot Intraday: further upside.
 


  
 Pivot: 1102.5

Most Likely Scenario: long positions above 1102.5 with targets @ 1117 & 1123 in extension.

Alternative scenario: below 1102.5 look for further downside with 1099.3 & 1093.5 as targets.

Comment: the RSI is supported by a bullish trend line.

  
 
 
 Crude Oil (WTI) (H6) Intraday: under pressure.
 


  
 Pivot: 30.95

Most Likely Scenario: short positions below 30.95 with targets @ 29.1 & 28.46 in extension.

Alternative scenario: above 30.95 look for further upside with 31.75 & 32.7 as targets.

Comment: the RSI lacks upward momentum.

  
 
 
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