Pre US Open, Daily Technical Analysis Wednesday, February 10, 2016
Analytics & Forecasts

Pre US Open, Daily Technical Analysis Wednesday, February 10, 2016

10 February 2016, 13:47
Mohammed Abdulwadud Soubra
Mohammed Abdulwadud Soubra
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Pre US Open, Daily Technical Analysis   Wednesday, February 10, 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: the bias remains bullish.
 
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 Pivot: 1.1235

Most Likely Scenario: long positions above 1.1235 with targets @ 1.1340 & 1.1400 in extension.

Alternative scenario: below 1.1235 look for further downside with 1.1160 & 1.1080 as targets.

Comment: the RSI lacks downward momentum.

  
 
 
 GBP/USD Intraday: the bias remains bullish.
 
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 Pivot: 1.4435

Most Likely Scenario: long positions above 1.4435 with targets @ 1.4515 & 1.4550 in extension.

Alternative scenario: below 1.4435 look for further downside with 1.4375 & 1.4325 as targets.

Comment: the RSI is mixed to bullish.

  
 
 
 USD/JPY Intraday: capped by a negative trend line.
 
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 Pivot: 115.25

Most Likely Scenario: short positions below 115.25 with targets @ 114.20 & 113.55 in extension.

Alternative scenario: above 115.25 look for further upside with 115.85 & 116.50 as targets.

Comment: the RSI lacks upward momentum.

  
 
 
 AUD/USD Intraday: the upside prevails.
 
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 Pivot: 0.7035

Most Likely Scenario: long positions above 0.7035 with targets @ 0.7130 & 0.7170 in extension.

Alternative scenario: below 0.7035 look for further downside with 0.7015 & 0.6970 as targets.

Comment: the RSI is well directed.

  
 
 
 Gold spot Intraday: bullish bias above 1174.50.
 
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 Pivot: 1174.50

Most Likely Scenario: long positions above 1174.50 with targets @ 1211.50 & 1225.00 in extension.

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

Comment: a support base at 1174.50 has formed and has allowed for a temporary stabilisation.

  
 
 
 Crude Oil (WTI) (H6) Intraday: under pressure.
 
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 Pivot: 29.27

Most Likely Scenario: short positions below 29.27 with targets @ 27.40 & 26.75 in extension.

Alternative scenario: above 29.27 look for further upside with 30.59 & 31.35 as targets.

Comment: the RSI is mixed to bearish.