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Pre US Open, Daily Technical Analysis Wednesday, February 17, 2016

17 February 2016, 14:10

194

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 downside prevails.


	Pivot: 1.1185 Most Likely Scenario: short positions below 1.1185 with targets @ 1.1120 & 1.1085 in extension. Alternative scenario: above 1.1185 look for further upside with 1.1210 & 1.1260 as targets. Comment: the RSI is mixed to bearish.

GBP/USD Intraday: caution.


	Pivot: 1.4350 Most Likely Scenario: short positions below 1.4350 with targets @ 1.4240 & 1.4205 in extension. Alternative scenario: above 1.4350 look for further upside with 1.4400 & 1.4465 as targets. Comment: the RSI is mixed and calls for caution.

USD/JPY Intraday: under pressure.


	Pivot: 114.40 Most Likely Scenario: short positions below 114.40 with targets @ 113.00 & 112.35 in extension. Alternative scenario: above 114.40 look for further upside with 114.90 & 115.25 as targets. Comment: the RSI lacks upward momentum.

AUD/USD Intraday: rebound.


	Pivot: 0.7080 Most Likely Scenario: long positions above 0.7080 with targets @ 0.7150 & 0.7180 in extension. Alternative scenario: below 0.7080 look for further downside with 0.7060 & 0.7025 as targets. Comment: the RSI is well directed.

Gold spot Intraday: supported by a rising trend line.


	Pivot: 1195.00 Most Likely Scenario: long positions above 1195.00 with targets @ 1217.00 & 1232.00 in extension. Alternative scenario: below 1195.00 look for further downside with 1181.00 & 1175.00 as targets. Comment: the RSI is mixed to bullish.

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


	Pivot: 30.25 Most Likely Scenario: short positions below 30.25 with targets @ 27.75 & 26.95 in extension. Alternative scenario: above 30.25 look for further upside with 30.65 & 31.50 as targets. Comment: the RSI lacks upward momentum.