Pre US Open, Daily Technical Analysis   Thursday, January 28, 2016

Pre US Open, Daily Technical Analysis Thursday, January 28, 2016

28 January 2016, 12:20
Mohammed Abdulwadud Soubra
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Pre US Open, Daily Technical Analysis   Thursday, January 28, 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 1.085.
 
 
  
 Pivot: 1.085

Most Likely Scenario: long positions above 1.085 with targets @ 1.094 & 1.0965 in extension.

Alternative scenario: below 1.085 look for further downside with 1.082 & 1.08 as targets.

Comment: the RSI is well directed.

  
 
 
 GBP/USD Intraday: rebound.
 
 
  
 Pivot: 1.4235

Most Likely Scenario: long positions above 1.4235 with targets @ 1.436 & 1.44 in extension.

Alternative scenario: below 1.4235 look for further downside with 1.4175 & 1.4125 as targets.

Comment: the RSI is well directed.

  
 
 
 USD/JPY Intraday: the bias remains bullish.
 
 
  
 Pivot: 118.35

Most Likely Scenario: long positions above 118.35 with targets @ 119.1 & 119.5 in extension.

Alternative scenario: below 118.35 look for further downside with 118 & 117.6 as targets.

Comment: the RSI is well directed.

  
 
 
 AUD/USD Intraday: the bias remains bullish.
 
 
  
 Pivot: 0.699

Most Likely Scenario: long positions above 0.699 with targets @ 0.712 & 0.715 in extension.

Alternative scenario: below 0.699 look for further downside with 0.696 & 0.6915 as targets.

Comment: the RSI is well directed.

  
 
 
 Gold spot Intraday: bullish bias above 1114.5.
 
 
  
 Pivot: 1114.5

Most Likely Scenario: long positions above 1114.5 with targets @ 1128 & 1133 in extension.

Alternative scenario: below 1114.5 look for further downside with 1109.5 & 1104.5 as targets.

Comment: a support base at 1114.5 has formed and has allowed for a temporary stabilisation.

  
 
 
 Crude Oil (WTI) (H6) Intraday: bullish bias above 31.2.
 
 
  
 Pivot: 31.2

Most Likely Scenario: long positions above 31.2 with targets @ 32.84 & 33.9 in extension.

Alternative scenario: below 31.2 look for further downside with 30 & 29.25 as targets.

Comment: a support base at 31.2 has formed and has allowed for a temporary stabilisation.