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

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

26 January 2016, 12:26
Mohammed Abdulwadud Soubra
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Pre US 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 @ 1.0875 & 1.0895 in extension.

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

Comment: the RSI lacks downward momentum.

  
 
 
 GBP/USD Intraday: capped by a negative trend line.
 
 
  
 Pivot: 1.4255

Most Likely Scenario: short positions below 1.4255 with targets @ 1.4165 & 1.4125 in extension.

Alternative scenario: above 1.4255 look for further upside with 1.431 & 1.436 as targets.

Comment: the RSI is mixed to bearish.

  
 
 
 USD/JPY Intraday: the downside prevails.
 
 
  
 Pivot: 118.35

Most Likely Scenario: short positions below 118.35 with targets @ 117.5 & 117.05 in extension.

Alternative scenario: above 118.35 look for further upside with 118.85 & 119.2 as targets.

Comment: the RSI lacks upward momentum.

  
 
 
 AUD/USD Intraday: caution.
 
 
  
 Pivot: 0.697

Most Likely Scenario: short positions below 0.697 with targets @ 0.6905 & 0.688 in extension.

Alternative scenario: above 0.697 look for further upside with 0.6995 & 0.7025 as targets.

Comment: the RSI is mixed and calls for caution.

  
 
 
 Gold spot Intraday: further upside.
 
 
  
 Pivot: 1106.5

Most Likely Scenario: long positions above 1106.5 with targets @ 1123 & 1128 in extension.

Alternative scenario: below 1106.5 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: 30.5

Most Likely Scenario: short positions below 30.5 with targets @ 29.1 & 28.46 in extension.

Alternative scenario: above 30.5 look for further upside with 31.75 & 32.7 as targets.

Comment: the RSI lacks upward momentum.

  
 
 
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