Pre US Open, Daily Technical Analysis   Monday, April 11, 2016

Pre US Open, Daily Technical Analysis Monday, April 11, 2016

11 April 2016, 14:03
Mohammad Soubra
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Pre US Open, Daily Technical Analysis   Monday, April 11, 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: bullish bias above 1.1360.
 

  
 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.

  
 
 
 GBP/USD Intraday: the upside prevails.
 

  
 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.

  
 
 
 USD/JPY Intraday: the downside prevails.
 

  
 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.

  
 
 
 AUD/USD Intraday: the upside prevails.
 
 
  
 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.

  
 
Gold spot Intraday: further upside.

 
 
 
 
  
 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.

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


 
  

 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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