| Pre European Open, Daily Technical Analysis Friday, January 29, 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: the bias remains bullish. |
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| |  | | | Pivot: 1.09
Most Likely Scenario: long positions above 1.09 with targets @ 1.097 & 1.1 in extension.
Alternative scenario: below 1.09 look for further downside with 1.086 & 1.082 as targets.
Comment: the RSI lacks downward momentum.
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| | GBP/USD Intraday: the upside prevails. |
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| |  | | | Pivot: 1.4285
Most Likely Scenario: long positions above 1.4285 with targets @ 1.4425 & 1.447 in extension.
Alternative scenario: below 1.4285 look for further downside with 1.4235 & 1.4175 as targets.
Comment: the RSI is well directed.
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| | USD/JPY Intraday: the upside prevails. |
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| |  | | | Pivot: 119.05
Most Likely Scenario: long positions above 119.05 with targets @ 121 & 121.5 in extension.
Alternative scenario: below 119.05 look for further downside with 118.5 & 118 as targets.
Comment: the RSI is well directed.
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| | AUD/USD Intraday: the bias remains bullish. |
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| |  | | | Pivot: 0.7055
Most Likely Scenario: long positions above 0.7055 with targets @ 0.715 & 0.7175 in extension.
Alternative scenario: below 0.7055 look for further downside with 0.703 & 0.699 as targets.
Comment: the RSI is well directed.
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| | Gold spot Intraday: under pressure. |
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| |  | | | Pivot: 1123
Most Likely Scenario: short positions below 1123 with targets @ 1109.5 & 1104.5 in extension.
Alternative scenario: above 1123 look for further upside with 1128 & 1132 as targets.
Comment: the RSI advocates for further downside.
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| | Crude Oil (WTI) (H6) Intraday: further advance. |
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| |  | | | Pivot: 31.68
Most Likely Scenario: long positions above 31.68 with targets @ 34.84 & 36.44 in extension.
Alternative scenario: below 31.68 look for further downside with 30.55 & 29.25 as targets.
Comment: the RSI is mixed with a bullish bias.
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