| Pre US Open, Daily Technical Analysis Thursday, February 18, 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: the downside prevails. |
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| |  | | | Pivot: 1.1185
Most Likely Scenario: short positions below 1.1185 with targets @ 1.1085 & 1.1040 in extension.
Alternative scenario: above 1.1185 look for further upside with 1.1210 & 1.1260 as targets.
Comment: The pair is trading within a bearish channel.
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| | GBP/USD Intraday: under pressure. |
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| |  | | | Pivot: 1.4340
Most Likely Scenario: short positions below 1.4340 with targets @ 1.4240 & 1.4205 in extension.
Alternative scenario: above 1.4340 look for further upside with 1.4400 & 1.4465 as targets.
Comment: as long as 1.4340 is resistance, look for choppy price action with a bearish bias.
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| | USD/JPY Intraday: bullish bias above 113.55. |
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| |  | | | Pivot: 113.55
Most Likely Scenario: long positions above 113.55 with targets @ 114.50 & 114.90 in extension.
Alternative scenario: below 113.55 look for further downside with 113.00 & 112.35 as targets.
Comment: a support base at 113.55 has formed and has allowed for a temporary stabilisation.
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| | AUD/USD Intraday: the bias remains bullish. |
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| |  | | | Pivot: 0.7130
Most Likely Scenario: long positions above 0.7130 with targets @ 0.7190 & 0.7210 in extension.
Alternative scenario: below 0.7130 look for further downside with 0.7105 & 0.7080 as targets.
Comment: the RSI is mixed to bullish.
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| | Gold spot Intraday: supported by a rising trend line. |
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| |  | | | 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 lacks downward momentum.
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| | Crude Oil (WTI) (H6) Intraday: bounce. |
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| |  | | | Pivot: 29.90
Most Likely Scenario: long positions above 29.90 with targets @ 32.00 & 32.90 in extension.
Alternative scenario: below 29.90 look for further downside with 28.75 & 27.75 as targets.
Comment: the RSI is mixed to bullish.
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