Pre US Open, Daily Technical Analysis   Monday, April 18, 2016

Pre US Open, Daily Technical Analysis Monday, April 18, 2016

18 April 2016, 12:19
Mohammad Soubra
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Pre US Open, Daily Technical Analysis   Monday, April 18, 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 1.1270.
 

  
 Pivot: 1.1270

Most Likely Scenario: long positions above 1.1270 with targets @ 1.1320 & 1.1345 in extension.

Alternative scenario: below 1.1270 look for further downside with 1.1245 & 1.1215 as targets.

Comment: the RSI is well directed.

  
 
 
 GBP/USD Intraday: key resistance at 1.4205.
 

  
 Pivot: 1.4205

Most Likely Scenario: short positions below 1.4205 with targets @ 1.4130 & 1.4100 in extension.

Alternative scenario: above 1.4205 look for further upside with 1.4240 & 1.4280 as targets.

Comment: the RSI lacks upward momentum.

  
 
 
 USD/JPY Intraday: under pressure.
 

  
 Pivot: 108.85

Most Likely Scenario: short positions below 108.85 with targets @ 107.75 & 107.30 in extension.

Alternative scenario: above 108.85 look for further upside with 109.45 & 109.75 as targets.

Comment: the RSI lacks upward momentum.

  
 
 
 AUD/USD Intraday: caution.
 

  
 Pivot: 0.7710

Most Likely Scenario: short positions below 0.7710 with targets @ 0.7615 & 0.7580 in extension.

Alternative scenario: above 0.7710 look for further upside with 0.7740 & 0.7770 as targets.

Comment: the RSI is mixed and calls for caution.

  
 
 
 Gold spot Intraday: further advance.
 

  
 Pivot: 1230.00

Most Likely Scenario: long positions above 1230.00 with targets @ 1240.00 & 1244.00 in extension.

Alternative scenario: below 1230.00 look for further downside with 1227.00 & 1224.00 as targets.

Comment: the RSI is mixed to bullish.

  
 
 
 Crude Oil (WTI) (K6) Intraday: key resistance at 40.00.
 

  
 Pivot: 40.00

Most Likely Scenario: short positions below 40.00 with targets @ 37.60 & 36.80 in extension.

Alternative scenario: above 40.00 look for further upside with 40.80 & 41.73 as targets.

Comment: the RSI lacks upward momentum.

  
 
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