| Pre US Open, Daily Technical Analysis Monday, February 01, 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: key resistance at 1.0885. |
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| |  | | | Pivot: 1.0885
Most Likely Scenario: short positions below 1.0885 with targets @ 1.081 & 1.0785 in extension.
Alternative scenario: above 1.0885 look for further upside with 1.092 & 1.094 as targets.
Comment: even though a continuation of the technical rebound cannot be ruled out, its extent should be limited.
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| | GBP/USD Intraday: limited upside. |
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| |  | | | Pivot: 1.4245
Most Likely Scenario: long positions above 1.4245 with targets @ 1.4318 & 1.435 in extension.
Alternative scenario: below 1.4245 look for further downside with 1.4185 & 1.415 as targets.
Comment: the immediate trend remains up but the momentum is weak.
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| | USD/JPY Intraday: bullish bias above 120.6. |
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| |  | | | Pivot: 120.6
Most Likely Scenario: long positions above 120.6 with targets @ 121.7 & 122.2 in extension.
Alternative scenario: below 120.6 look for further downside with 119.7 & 119.05 as targets.
Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
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| | AUD/USD Intraday: under pressure. |
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