Pre European Open, Daily Technical Analysis Tuesday, February 02, 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: the upside prevails. |
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| ![](https://c.mql5.com/6/711/eur__4.gif) | | Pivot: 1.087
Most Likely Scenario: long positions above 1.087 with targets @ 1.0925 & 1.094 in extension.
Alternative scenario: below 1.087 look for further downside with 1.0835 & 1.081 as targets.
Comment: the RSI lacks downward momentum.
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| GBP/USD Intraday: bullish bias above 1.432. |
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| ![](https://c.mql5.com/6/711/gbp__4.gif) | | Pivot: 1.432
Most Likely Scenario: long positions above 1.432 with targets @ 1.4475 & 1.4535 in extension.
Alternative scenario: below 1.432 look for further downside with 1.4245 & 1.4185 as targets.
Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
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| USD/JPY Intraday: key resistance at 121.7. |
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| ![](https://c.mql5.com/6/711/jpy__4.gif) | | Pivot: 121.7
Most Likely Scenario: short positions below 121.7 with targets @ 119.6 & 119 in extension.
Alternative scenario: above 121.7 look for further upside with 122.2 & 122.7 as targets.
Comment: the RSI is capped by a declining trend line.
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| AUD/USD Intraday: bullish bias above 0.706. |
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| ![](https://c.mql5.com/6/711/aud__4.gif) | | Pivot: 0.706
Most Likely Scenario: long positions above 0.706 with targets @ 0.712 & 0.714 in extension.
Alternative scenario: below 0.706 look for further downside with 0.703 & 0.7 as targets.
Comment: a support base at 0.706 has formed and has allowed for a temporary stabilisation.
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| Gold spot Intraday: the bias remains bullish. |
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| ![](https://c.mql5.com/6/711/gold__4.gif) | | Pivot: 1118
Most Likely Scenario: long positions above 1118 with targets @ 1133 & 1138.5 in extension.
Alternative scenario: below 1118 look for further downside with 1111 & 1104.5 as targets.
Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
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| Crude Oil (WTI) (H6) Intraday: under pressure. |
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| ![](https://c.mql5.com/6/711/oil__3.gif) | | Pivot: 32.66
Most Likely Scenario: short positions below 32.66 with targets @ 30.7 & 30.12 in extension.
Alternative scenario: above 32.66 look for further upside with 33.38 & 34.4 as targets.
Comment: as long as the resistance at 32.66 is not surpassed, the risk of the break below 30.7 remains high.
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