Pre European Open, Daily Technical Analysis Tuesday, February 09, 2016
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Pre European Open, Daily Technical Analysis Tuesday, February 09, 2016

9 February 2016, 08:34
Mohammed Abdulwadud Soubra
Mohammed Abdulwadud Soubra
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Pre European Open, Daily Technical Analysis   Tuesday, February 09, 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: further advance.
 
 
  
 Pivot: 1.1150

Most Likely Scenario: long positions above 1.1150 with targets @ 1.1240 & 1.1310 in extension.

Alternative scenario: below 1.1150 look for further downside with 1.1120 & 1.1080 as targets.

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

  
 
 
 GBP/USD Intraday: capped by a negative trend line.
 
 
  
 Pivot: 1.4485

Most Likely Scenario: short positions below 1.4485 with targets @ 1.4350 & 1.4280 in extension.

Alternative scenario: above 1.4485 look for further upside with 1.4550 & 1.4610 as targets.

Comment: The pair is showing a pattern of lower highs and lows.

  
 
 
 USD/JPY Intraday: the downside prevails.
 
 
  
 Pivot: 115.85

Most Likely Scenario: short positions below 115.85 with targets @ 113.55 & 113.00 in extension.

Alternative scenario: above 115.85 look for further upside with 116.50 & 117.00 as targets.

Comment: the RSI is mixed to bearish.

  
 
 
 AUD/USD Intraday: the downside prevails.
 
 
  
 Pivot: 0.7105

Most Likely Scenario: short positions below 0.7105 with targets @ 0.7000 & 0.6960 in extension.

Alternative scenario: above 0.7105 look for further upside with 0.7150 & 0.7210 as targets.

Comment: a break below 0.7000 would trigger a drop towards 0.6960.

  
 
 
 Gold spot Intraday: the upside prevails.
 
 
  
 Pivot: 1174.50

Most Likely Scenario: long positions above 1174.50 with targets @ 1210.00 & 1220.00 in extension.

Alternative scenario: below 1174.50 look for further downside with 1164.00 & 1152.25 as targets.

Comment: the RSI lacks downward momentum.

  
 
 
 Crude Oil (WTI) (H6) Intraday: the downside prevails.
 
 
  
 Pivot: 30.72

Most Likely Scenario: short positions below 30.72 with targets @ 29.20 & 28.50 in extension.

Alternative scenario: above 30.72 look for further upside with 31.35 & 31.90 as targets.

Comment: the RSI lacks upward momentum.