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Pre US Open, Daily Technical Analysis Friday, April 01, 2016

1 April 2016, 12:41

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Pre US Open, Daily Technical Analysis Friday, April 01, 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: further upside.

Pivot: 1.1365

Most Likely Scenario: long positions above 1.1365 with targets @ 1.1410 & 1.1450 in extension.

Alternative scenario: below 1.1365 look for further downside with 1.1340 & 1.1310 as targets.

Comment: the RSI is well directed.

GBP/USD Intraday: turning down.


	Pivot: 1.4375 Most Likely Scenario: short positions below 1.4375 with targets @ 1.4305 & 1.4260 in extension. Alternative scenario: above 1.4375 look for further upside with 1.4425 & 1.4455 as targets. Comment: the RSI is mixed to bearish.

USD/JPY Intraday: under pressure.


	Pivot: 112.65 Most Likely Scenario: short positions below 112.65 with targets @ 112.05 & 111.60 in extension. Alternative scenario: above 112.65 look for further upside with 113.20 & 113.45 as targets. Comment: a break below 112.05 would trigger a drop towards 111.60.

AUD/USD Intraday: the upside prevails.


	Pivot: 0.7630 Most Likely Scenario: long positions above 0.7630 with targets @ 0.7705 & 0.7745 in extension. Alternative scenario: below 0.7630 look for further downside with 0.7565 & 0.7515 as targets. Comment: the RSI is mixed to bullish.

Gold spot Intraday: the bias remains bullish.


	Pivot: 1229.00 Most Likely Scenario: long positions above 1229.00 with targets @ 1239.00 & 1243.00 in extension. Alternative scenario: below 1229.00 look for further downside with 1223.00 & 1216.00 as targets. Comment: a support base at 1229.00 has formed and has allowed for a temporary stabilisation.

Crude Oil (WTI) (K6) Intraday: further advance.


	Pivot: 37.65 Most Likely Scenario: long positions above 37.65 with targets @ 39.07 & 39.45 in extension. Alternative scenario: below 37.65 look for further downside with 36.94 & 36.20 as targets. Comment: the RSI is mixed to bullish.