| Pre European Open, Daily Technical Analysis Thursday, February 04, 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: further advance. |
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| |  | | | Pivot: 1.1
Most Likely Scenario: long positions above 1.1 with targets @ 1.115 & 1.12 in extension.
Alternative scenario: below 1.1 look for further downside with 1.094 & 1.09 as targets.
Comment: technically the RSI is above its neutrality area at 50.
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| | GBP/USD Intraday: the bias remains bullish. |
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| |  | | | Pivot: 1.452
Most Likely Scenario: long positions above 1.452 with targets @ 1.464 & 1.4685 in extension.
Alternative scenario: below 1.452 look for further downside with 1.444 & 1.438 as targets.
Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
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| | USD/JPY Intraday: the downside prevails. |
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| |  | | | Pivot: 119
Most Likely Scenario: short positions below 119 with targets @ 117 & 116.7 in extension.
Alternative scenario: above 119 look for further upside with 119.65 & 120 as targets.
Comment: as long as 119 is resistance, look for choppy price action with a bearish bias.
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| | AUD/USD Intraday: the upside prevails. |
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| |  | | | Pivot: 0.7115
Most Likely Scenario: long positions above 0.7115 with targets @ 0.719 & 0.7235 in extension.
Alternative scenario: below 0.7115 look for further downside with 0.707 & 0.7035 as targets.
Comment: technically the RSI is above its neutrality area at 50.
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| | Gold spot Intraday: the upside prevails. |
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| |  | | | Pivot: 1131
Most Likely Scenario: long positions above 1131 with targets @ 1148 & 1151 in extension.
Alternative scenario: below 1131 look for further downside with 1123 & 1115 as targets.
Comment: the RSI is mixed to bullish.
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| | Crude Oil (WTI) (H6) Intraday: rebound. |
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| |  | | | Pivot: 31.29
Most Likely Scenario: long positions above 31.29 with targets @ 33.37 & 33.9 in extension.
Alternative scenario: below 31.29 look for further downside with 30.6 & 29.94 as targets.
Comment: the RSI is mixed with a bullish bias.
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