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Daily Technical levels – Trading Central 18-01-2016‏ by ORBEX

 

EUR/USD Intraday: under pressure.

 

Pivot: 1.0945

Our preference: short positions below 1.0945 with targets @ 1.0835 & 1.08 in extension.

Alternative scenario: above 1.0945 look for further upside with 1.0985 & 1.103 as targets.

Comment: the RSI is badly directed.

 

USD/CHF Intraday: caution.

 

 

Pivot: 1.006

Our preference: short positions below 1.006 with targets @ 1 & 0.996 in extension.

Alternative scenario: above 1.006 look for further upside with 1.009 & 1.011 as targets.

Comment: intraday technical indicators are mixed and call for caution.

 

GBP/USD Intraday: the downside prevails.

 

 

Pivot: 1.432

Our preference: short positions below 1.432 with targets @ 1.4225 & 1.4185 in extension.

Alternative scenario: above 1.432 look for further upside with 1.436 & 1.44 as targets.

Comment: as long as 1.432 is resistance, look for choppy price action with a bearish bias.

 

Dow Jones (CME) (H6) Intraday: the downside prevails.

 

 

Pivot: 16185

Our preference: short positions below 16185 with targets @ 15750 & 15670 in extension.

Alternative scenario: above 16185 look for further upside with 16390 & 16530 as targets.

Comment: the RSI is mixed with a bearish bias.

 

Gold spot Intraday: continuation of the rebound.

 


Pivot: 1085

Our preference: long positions above 1085 with targets @ 1100 & 1106 in extension.

Alternative scenario: below 1085 look for further downside with 1076 & 1071 as targets.

Comment: the RSI is mixed to bullish.

 

Crude Oil (WTI) (G6) Intraday: the downside prevails.

 

Pivot: 30

Our preference: short positions below 30 with targets @ 28.2 & 27.8 in extension.

Alternative scenario: above 30 look for further upside with 31.6 & 32.2 as targets.

Comment: as long as 30 is resistance, likely decline to 28.2.

 

Chart Caption
Green Lines Represent Resistances
Red Lines Represent Support Levels
Light Blue is a Pivot Point
Black represents the price when the report was produced

 

Source: www.orbex.com

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