| Pre US Open, Daily Technical Analysis Thursday, January 21, 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: under pressure. |
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| |  | | | Pivot: 1.0935
Most Likely Scenario: short positions below 1.0935 with targets @ 1.0855 & 1.0835 in extension.
Alternative scenario: above 1.0935 look for further upside with 1.0975 & 1.101 as targets.
Comment: as long as 1.0935 is resistance, look for choppy price action with a bearish bias.
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| | GBP/USD Intraday: key resistance at 1.423. |
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| |  | | | Pivot: 1.423
Most Likely Scenario: short positions below 1.423 with targets @ 1.4125 & 1.408 in extension.
Alternative scenario: above 1.423 look for further upside with 1.427 & 1.432 as targets.
Comment: as long as 1.423 is resistance, look for choppy price action with a bearish bias.
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| | USD/JPY Intraday: under pressure. |
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| |  | | | Pivot: 117.5
Most Likely Scenario: short positions below 117.5 with targets @ 116.2 & 115.95 in extension.
Alternative scenario: above 117.5 look for further upside with 118.1 & 118.35 as targets.
Comment: the RSI lacks upward momentum.
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| | AUD/USD Intraday: under pressure. |
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| |  | | | Pivot: 0.6955
Most Likely Scenario: short positions below 0.6955 with targets @ 0.687 & 0.6825 in extension.
Alternative scenario: above 0.6955 look for further upside with 0.6975 & 0.7 as targets.
Comment: the RSI lacks upward momentum.
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| | Gold spot Intraday: bullish bias above 1095. |
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| |  | | | Pivot: 1095
Most Likely Scenario: long positions above 1095 with targets @ 1106 & 1110 in extension.
Alternative scenario: below 1095 look for further downside with 1090.5 & 1086 as targets.
Comment: the RSI is mixed to bullish.
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| | Crude Oil (WTI) (H6) Intraday: the downside prevails. |
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| |  | | | Pivot: 29.2
Most Likely Scenario: short positions below 29.2 with targets @ 27.5 & 26.8 in extension.
Alternative scenario: above 29.2 look for further upside with 29.75 & 30.5 as targets.
Comment: as long as 29.2 is resistance, likely decline to 27.5.
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