Pre US Open, Daily Technical Analysis   Friday, February 19, 2016

Pre US Open, Daily Technical Analysis Friday, February 19, 2016

19 February 2016, 14:15
Mohammed Abdulwadud Soubra
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Pre US Open, Daily Technical Analysis   Friday, February 19, 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: key resistance at 1.1145.
 
 
  
 Pivot: 1.1145

Most Likely Scenario: short positions below 1.1145 with targets @ 1.1070 & 1.1040 in extension.

Alternative scenario: above 1.1145 look for further upside with 1.1185 & 1.1210 as targets.

Comment: the upward potential is likely to be limited by the resistance at 1.1145.

  
 
 
 GBP/USD Intraday: the bias remains bullish.
 
 
  
 Pivot: 1.4270

Most Likely Scenario: long positions above 1.4270 with targets @ 1.4400 & 1.4465 in extension.

Alternative scenario: below 1.4270 look for further downside with 1.4240 & 1.4205 as targets.

Comment: the RSI lacks downward momentum.

  
 
 
 USD/JPY Intraday: the downside prevails.
 

  
 Pivot: 113.65

Most Likely Scenario: short positions below 113.65 with targets @ 112.35 & 111.65 in extension.

Alternative scenario: above 113.65 look for further upside with 114.50 & 114.90 as targets.

Comment: the RSI is mixed to bearish.

  
 
 
 AUD/USD Intraday: the downside prevails.
 
 
  

 Pivot: 0.7145

Most Likely Scenario: short positions below 0.7145 with targets @ 0.7080 & 0.7060 in extension.

Alternative scenario: above 0.7145 look for further upside with 0.7170 & 0.7190 as targets.

Comment: the RSI is mixed to bearish.

  
 
 
 Gold spot Intraday: bullish bias above 1218.00.
 

  
 Pivot: 1218.00

Most Likely Scenario: long positions above 1218.00 with targets @ 1240.00 & 1246.00 in extension.

Alternative scenario: below 1218.00 look for further downside with 1202.00 & 1191.00 as targets.

Comment: the RSI is mixed to bullish.

  
 
 
 Crude Oil (WTI) (H6) Intraday: under pressure.
 
 
  
 Pivot: 32.00

Most Likely Scenario: short positions below 32.00 with targets @ 29.50 & 28.75 in extension.

Alternative scenario: above 32.00 look for further upside with 32.90 & 33.60 as targets.

Comment: the RSI is mixed to bearish.

  
 
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