| Pre US Open, Daily Technical Analysis Monday, April 11, 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: bullish bias above 1.1360. |
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| |  | | | Pivot: 1.1360
Most Likely Scenario: long positions above 1.1360 with targets @ 1.1430 & 1.1455 in extension.
Alternative scenario: below 1.1360 look for further downside with 1.1335 & 1.1310 as targets.
Comment: the RSI is mixed to bullish.
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| | GBP/USD Intraday: the upside prevails. |
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| |  | | | Pivot: 1.4145
Most Likely Scenario: long positions above 1.4145 with targets @ 1.4280 & 1.4320 in extension.
Alternative scenario: below 1.4145 look for further downside with 1.4050 & 1.4000 as targets.
Comment: the RSI calls for a new upleg.
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| | USD/JPY Intraday: the downside prevails. |
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| |  | | | Pivot: 108.50
Most Likely Scenario: short positions below 108.50 with targets @ 107.00 & 106.15 in extension.
Alternative scenario: above 108.50 look for further upside with 109.15 & 109.95 as targets.
Comment: as long as 108.50 is resistance, look for choppy price action with a bearish bias.
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| | AUD/USD Intraday: the upside prevails. |
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| |  | | | Pivot: 0.7520
Most Likely Scenario: long positions above 0.7520 with targets @ 0.7590 & 0.7635 in extension.
Alternative scenario: below 0.7520 look for further downside with 0.7490 & 0.7455 as targets.
Comment: a support base at 0.7520 has formed and has allowed for a temporary stabilisation.
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| | | | | Gold spot Intraday: further upside.
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| | | | | Pivot: 1239.00
Most Likely Scenario: long positions above 1239.00 with targets @ 1255.50 & 1262.00 in extension.
Alternative scenario: below 1239.00 look for further downside with 1232.00 & 1226.00 as targets.
Comment: the RSI is mixed to bullish.
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| | Crude Oil (WTI) (K6) Intraday: further advance. |
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| | | Pivot: 39.00
Most Likely Scenario: long positions above 39.00 with targets @ 41.25 & 41.75 in extension.
Alternative scenario: below 39.00 look for further downside with 38.25 & 37.44 as targets.
Comment: the RSI is mixed with a bullish bias.
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