Pre European Open, Daily Technical Analysis February 16, 2016

16 February 2016, 08:27
Mohammad Soubra
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Pre European Open, Daily Technical Analysis

February 16, 2016




GBP/USD Intraday: under pressure.

Pivot: 1.4485

Most Likely Scenario: short positions below 1.4485 with targets @ 1.4380 & 1.4350 in extension.

Alternative scenario: above 1.4485 look for further upside with 1.4535 & 1.4570 as targets.

Comment: as long as 1.4485 is resistance, look for choppy price action with a bearish bias.


EUR/USD Intraday: under pressure.

Pivot: 1.1210

Most Likely Scenario: short positions below 1.1210 with targets @ 1.1120 & 1.1085 in extension.

Alternative scenario: above 1.1210 look for further upside with 1.1260 & 1.1300 as targets.

Comment: the RSI is mixed to bearish.


USD/JPY Intraday: the upside prevails.

Pivot: 113.70

Most Likely Scenario: long positions above 113.70 with targets @ 115.25 & 115.85 in extension.

Alternative scenario: below 113.70 look for further downside with 113.00 & 112.35 as targets.

Comment: the RSI is mixed to bullish.



AUD/USD Intraday: the upside prevails.

Pivot: 0.7125

Most Likely Scenario: long positions above 0.7125 with targets @ 0.7200 & 0.7225 in extension.

Alternative scenario: below 0.7125 look for further downside with 0.7095 & 0.7060 as targets.

Comment: the RSI lacks downward momentum.


Gold spot Intraday: under pressure.

Pivot: 1209.00

Most Likely Scenario: short positions below 1209.00 with targets @ 1187.00 & 1181.00 in extension.

Alternative scenario: above 1209.00 look for further upside with 1222.00 & 1235.00 as targets.

Comment: the RSI lacks upward momentum.



Crude Oil (WTI) (H6) Intraday: continuation of the rebound.

Pivot: 29.50

Most Likely Scenario: long positions above 29.50 with targets @ 31.40 & 32.50 in extension.

Alternative scenario: below 29.50 look for further downside with 28.30 & 26.95 as targets.

Comment: the RSI is bullish and calls for further upside
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