| Pre European Open, Daily Technical Analysis Friday, March 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 upside prevails. |
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| |  | | | Pivot: 1.1240
Most Likely Scenario: long positions above 1.1240 with targets @ 1.1345 & 1.1375 in extension.
Alternative scenario: below 1.1240 look for further downside with 1.1200 & 1.1165 as targets.
Comment: the RSI is mixed with a bullish bias.
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| | GBP/USD Intraday: the bias remains bullish. |
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| |  | | | Pivot: 1.4360
Most Likely Scenario: long positions above 1.4360 with targets @ 1.4510 & 1.4575 in extension.
Alternative scenario: below 1.4360 look for further downside with 1.4290 & 1.4200 as targets.
Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
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| | USD/JPY Intraday: under pressure. |
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| |  | | | Pivot: 112.30
Most Likely Scenario: short positions below 112.30 with targets @ 110.60 & 110.00 in extension.
Alternative scenario: above 112.30 look for further upside with 113.05 & 113.45 as targets.
Comment: the RSI lacks upward momentum.
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| | AUD/USD Intraday: the bias remains bullish. |
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| |  | | | Pivot: 0.7575
Most Likely Scenario: long positions above 0.7575 with targets @ 0.7715 & 0.7780 in extension.
Alternative scenario: below 0.7575 look for further downside with 0.7520 & 0.7475 as targets.
Comment: the RSI is mixed to bullish.
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| | Gold spot Intraday: bullish bias above 1254.00. |
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| |  | | | Pivot: 1254.00
Most Likely Scenario: long positions above 1254.00 with targets @ 1276.00 & 1284.00 in extension.
Alternative scenario: below 1254.00 look for further downside with 1235.00 & 1225.00 as targets.
Comment: the RSI is mixed with a bullish bias.
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| | Crude Oil (WTI) (J6) Intraday: the upside prevails. |
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| |  | | | Pivot: 39.00
Most Likely Scenario: long positions above 39.00 with targets @ 41.00 & 41.55 in extension.
Alternative scenario: below 39.00 look for further downside with 38.15 & 37.45 as targets.
Comment: the RSI lacks downward momentum.
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