Pre US Open, Daily Technical Analysis   Wednesday, June 08, 2016

Pre US Open, Daily Technical Analysis Wednesday, June 08, 2016

8 June 2016, 13:37
Mohammad Soubra
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Pre US Open, Daily Technical Analysis   Wednesday, June 08, 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: the upside prevails.
 
 
  
 Pivot: 1.1315

Most Likely Scenario: long positions above 1.1315 with targets @ 1.1390 & 1.1415 in extension.

Alternative scenario: below 1.1315 look for further downside with 1.1280 & 1.1245 as targets.

Comment: technically the RSI is above its neutrality area at 50.

  
 
 
 GBP/USD Intraday: the upside prevails.
 
 
  
 Pivot: 1.4475

Most Likely Scenario: long positions above 1.4475 with targets @ 1.4610 & 1.4665 in extension.

Alternative scenario: below 1.4475 look for further downside with 1.4425 & 1.4365 as targets.

Comment: the RSI is mixed to bullish.

  
 
 
 USD/JPY Intraday: under pressure.
 
 
  
 Pivot: 107.45

Most Likely Scenario: short positions below 107.45 with targets @ 106.65 & 106.40 in extension.

Alternative scenario: above 107.45 look for further upside with 107.95 & 108.50 as targets.

Comment: the RSI lacks upward momentum.

  
 
 
 AUD/USD Intraday: the upside prevails.
Pivot: 0.7415
 


 
  
 
Most Likely Scenario: long positions above 0.7415 with targets @ 0.7480 & 0.7515 in extension.

Alternative scenario: below 0.7415 look for further downside with 0.7380 & 0.7355 as targets.

Comment: the RSI lacks downward momentum.

  
 
 
 Gold spot Intraday: further advance.
 
 
  
 Pivot: 1234.50

Most Likely Scenario: long positions above 1234.50 with targets @ 1258.00 & 1263.00 in extension.

Alternative scenario: below 1234.50 look for further downside with 1223.00 & 1217.00 as targets.

Comment: the RSI shows upside momentum.

  
 
 
 Crude Oil (WTI) (N6) Intraday: the upside prevails.
 
 
  
 Pivot: 49.80

Most Likely Scenario: long positions above 49.80 with targets @ 51.00 & 51.30 in extension.

Alternative scenario: below 49.80 look for further downside with 49.45 & 49.10 as targets.

Comment: the RSI is supported by a rising trend line.

  
 
 
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