Pre US Open, Daily Technical Analysis Friday, January 29, 2016
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Pre US Open, Daily Technical Analysis Friday, January 29, 2016

29 January 2016, 12:21
Mohammed Abdulwadud Soubra
Mohammed Abdulwadud Soubra
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Pre US Open, Daily Technical Analysis   Friday, January 29, 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: under pressure.
 
 
  
 Pivot: 1.097

Most Likely Scenario: short positions below 1.097 with targets @ 1.086 & 1.082 in extension.

Alternative scenario: above 1.097 look for further upside with 1.1 & 1.102 as targets.

Comment: the RSI is mixed to bearish.

  
 
 
 GBP/USD Intraday: under pressure.
 
 
  
 Pivot: 1.4425

Most Likely Scenario: short positions below 1.4425 with targets @ 1.4285 & 1.4235 in extension.

Alternative scenario: above 1.4425 look for further upside with 1.447 & 1.45 as targets.

Comment: the RSI is badly directed.

  
 
 
 USD/JPY Intraday: the upside prevails.
 
 
  
 Pivot: 119.7

Most Likely Scenario: long positions above 119.7 with targets @ 121 & 121.5 in extension.

Alternative scenario: below 119.7 look for further downside with 119.05 & 118.5 as targets.

Comment: the RSI is well directed.

  
 
 
 AUD/USD Intraday: the bias remains bullish.
 
 
  
 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 lacks downward momentum.

  
 
 
 Gold spot Intraday: under pressure.
 
 
  
 Pivot: 1118.3

Most Likely Scenario: short positions below 1118.3 with targets @ 1108.2 & 1104.5 in extension.

Alternative scenario: above 1118.3 look for further upside with 1122.5 & 1128 as targets.

Comment: technically the RSI is below its neutrality area at 50.

  
 
 
 Crude Oil (WTI) (H6) Intraday: further advance.
 
 
  
 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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