| Pre European Open, Daily Technical Analysis Thursday, March 31, 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: rebound. |
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| | Pivot: 1.1300
Most Likely Scenario: long positions above 1.1300 with targets @ 1.1365 & 1.1400 in extension.
Alternative scenario: below 1.1300 look for further downside with 1.1280 & 1.1255 as targets.
Comment: the RSI lacks downward momentum.
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| | GBP/USD Intraday: under pressure. |
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| | | | | Pivot: 1.4395
Most Likely Scenario: short positions below 1.4395 with targets @ 1.4305 & 1.4260 in extension.
Alternative scenario: above 1.4395 look for further upside with 1.4455 & 1.4515 as targets.
Comment: the RSI is bearish and calls for further downside.
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| | USD/JPY Intraday: under pressure. |
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| | | | | Pivot: 112.85
Most Likely Scenario: short positions below 112.85 with targets @ 112.05 & 111.60 in extension.
Alternative scenario: above 112.85 look for further upside with 113.20 & 113.45 as targets.
Comment: as long as 112.85 is resistance, look for choppy price action with a bearish bias.
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| | AUD/USD Intraday: the upside prevails. |
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| | | | | Pivot: 0.7610
Most Likely Scenario: long positions above 0.7610 with targets @ 0.7700 & 0.7745 in extension.
Alternative scenario: below 0.7610 look for further downside with 0.7565 & 0.7515 as targets.
Comment: the RSI is mixed to bullish.
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| | Gold spot Intraday: under pressure. |
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| | | | | Pivot: 1237.00
Most Likely Scenario: short positions below 1237.00 with targets @ 1223.00 & 1216.00 in extension.
Alternative scenario: above 1237.00 look for further upside with 1243.00 & 1249.00 as targets.
Comment: even though a continuation of the technical rebound cannot be ruled out, its extent should be limited.
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| | Crude Oil (WTI) (K6) Intraday: break of a ST rising trendline support. |
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| | | | | Pivot: 38.71
Most Likely Scenario: short positions below 38.71 with targets @ 37.38 & 36.94 in extension.
Alternative scenario: above 38.71 look for further upside with 39.07 & 39.45 as targets.
Comment: technically the RSI is below its neutrality area at 50.
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