| Pre European Open, Daily Technical Analysis Thursday, February 11, 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 1.1340. |
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| | | Pivot: 1.1340
Most Likely Scenario: short positions below 1.1340 with targets @ 1.1220 & 1.1160 in extension.
Alternative scenario: above 1.1340 look for further upside with 1.1400 & 1.1460 as targets.
Comment: as long as the resistance at 1.1340 is not surpassed, the risk of the break below 1.1220 remains high.
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| | GBP/USD Intraday: the upside prevails. |
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| | | Pivot: 1.4490
Most Likely Scenario: long positions above 1.4490 with targets @ 1.4570 & 1.4615 in extension.
Alternative scenario: below 1.4490 look for further downside with 1.4435 & 1.4375 as targets.
Comment: the RSI is mixed to bullish.
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| | USD/JPY Intraday: the downside prevails. |
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| | | Pivot: 114.20
Most Likely Scenario: short positions below 114.20 with targets @ 112.00 & 111.00 in extension.
Alternative scenario: above 114.20 look for further upside with 115.25 & 115.85 as targets.
Comment: the RSI is bearish and calls for further downside.
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| | AUD/USD Intraday: bullish bias above 0.7065. |
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| | | Pivot: 0.7065
Most Likely Scenario: long positions above 0.7065 with targets @ 0.7150 & 0.7170 in extension.
Alternative scenario: below 0.7065 look for further downside with 0.7035 & 0.7015 as targets.
Comment: a support base at 0.7065 has formed and has allowed for a temporary stabilisation.
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| | Gold spot Intraday: bullish bias above 1198.00. |
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| | | Pivot: 1198.00
Most Likely Scenario: long positions above 1198.00 with targets @ 1222.00 & 1240.00 in extension.
Alternative scenario: below 1198.00 look for further downside with 1181.00 & 1164.00 as targets.
Comment: the RSI lacks downward momentum.
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| | Crude Oil (WTI) (H6) Intraday: under pressure. |
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| | | Pivot: 29.27
Most Likely Scenario: short positions below 29.27 with targets @ 26.00 & 25.38 in extension.
Alternative scenario: above 29.27 look for further upside with 30.59 & 31.35 as targets.
Comment: the RSI lacks upward momentum.
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