Daily Technical levels – Trading Central 19-01-2016 by Orbex
EUR/USD Intraday: under pressure.
Pivot: 1.091
Our preference: short positions below 1.091 with targets @ 1.0835 & 1.08 in extension.
Alternative scenario: above 1.091 look for further upside with 1.0945 & 1.0985 as targets.
Comment: the RSI is badly directed.
USD/CHF Intraday: the upside prevails.
Pivot: 1.003
Our preference: long positions above 1.003 with targets @ 1.009 & 1.011 in extension.
Alternative scenario: below 1.003 look for further downside with 1.001 & 0.999 as targets.
Comment: the RSI is well directed.
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: a break below 1.4225 would trigger a drop towards 1.4185.
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 upward potential is likely to be limited by the resistance at 16185.
Gold spot Intraday: bullish bias above 1085.
Pivot: 1085
Our preference: long positions above 1085 with targets @ 1097 & 1106 in extension.
Alternative scenario: below 1085 look for further downside with 1080 & 1076 as targets.
Comment: the RSI is mixed with a bullish bias.
Crude Oil (WTI) (G6) Intraday: key resistance at 30.
Pivot: 30
Our preference: short positions below 30 with targets @ 28.35 & 28 in extension.
Alternative scenario: above 30 look for further upside with 30.75 & 31.6 as targets.
Comment: as long as 30 is resistance, look for choppy price action with a bearish bias.
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
