Pre European Open, Daily Technical Analysis   Wednesday, April 27, 2016

Pre European Open, Daily Technical Analysis Wednesday, April 27, 2016

27 April 2016, 08:37
Mohammad Soubra
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Pre European Open, Daily Technical Analysis   Wednesday, April 27, 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: intraday support around 1.1270.
 
 
  
 Pivot: 1.1270

Most Likely Scenario: long positions above 1.1270 with targets @ 1.1340 & 1.1380 in extension.

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

Comment: the RSI is mixed to bullish.

  
 
 
 GBP/USD Intraday: the upside prevails.
 
 
  
 Pivot: 1.4520

Most Likely Scenario: long positions above 1.4520 with targets @ 1.4640 & 1.4670 in extension.

Alternative scenario: below 1.4520 look for further downside with 1.4465 & 1.4410 as targets.

Comment: the RSI is mixed to bullish.

  
 
 
 USD/JPY Intraday: the upside prevails.
 
 
  
 Pivot: 110.75

Most Likely Scenario: long positions above 110.75 with targets @ 111.80 & 112.45 in extension.

Alternative scenario: below 110.75 look for further downside with 110.25 & 109.90 as targets.

Comment: the RSI lacks downward momentum.

  
 
 
 AUD/USD Intraday: under pressure.
 
 
  
 Pivot: 0.7725

Most Likely Scenario: short positions below 0.7725 with targets @ 0.7580 & 0.7530 in extension.

Alternative scenario: above 0.7725 look for further upside with 0.7765 & 0.7795 as targets.

Comment: the RSI has broken down its 30 level. 

  
 
 
 Gold spot Intraday: further advance.
 
 
  
 Pivot: 1231.00

Most Likely Scenario: long positions above 1231.00 with targets @ 1249.00 & 1252.60 in extension.

Alternative scenario: below 1231.00 look for further downside with 1227.00 & 1220.00 as targets.

Comment: the RSI is bullish and calls for further advance.

  
 
 
 Crude Oil (WTI) (M6) Intraday: further upside.
 
 
  
 Pivot: 42.90

Most Likely Scenario: long positions above 42.90 with targets @ 45.30 & 46.35 in extension.

Alternative scenario: below 42.90 look for further downside with 42.00 & 41.40 as targets.

Comment: the RSI is bullish and calls for further upside.

  
 
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