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Daily Technical levels – Trading Central 25-01-2016 by Orbex‏

 

EUR/USD Intraday: capped by a negative trend line.

 

 

Pivot: 1.0845

Our preference: short positions below 1.0845 with targets @ 1.0775 & 1.0745 in extension.

Alternative scenario: above 1.0845 look for further upside with 1.0865 & 1.0895 as targets.

Comment: as long as 1.0845 is resistance, look for choppy price action with a bearish bias.

 

USD/CHF Intraday: the bias remains bullish.

 

 

Pivot: 1.011

Our preference: long positions above 1.011 with targets @ 1.0175 & 1.0215 in extension.

Alternative scenario: below 1.011 look for further downside with 1.0065 & 1.0025 as targets.

Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

 

GBP/USD Intraday: the upside prevails.

 

 

Pivot: 1.425

Our preference: long positions above 1.425 with targets @ 1.436 & 1.44 in extension.

Alternative scenario: below 1.425 look for further downside with 1.42 & 1.4165 as targets.

Comment: the RSI is bullish and calls for further upside.

 

Dow Jones (CME) (H6) Intraday: bullish bias above 15720.

 

 

Pivot: 15720

Our preference: long positions above 15720 with targets @ 16190 & 16390 in extension.

Alternative scenario: below 15720 look for further downside with 15530 & 15365 as targets.

Comment: the RSI is mixed to bullish.

 

Gold spot Intraday: further advance.

 

 

Pivot: 1093.5

Our preference: long positions above 1093.5 with targets @ 1106 & 1110 in extension.

Alternative scenario: below 1093.5 look for further downside with 1090.5 & 1086 as targets.

Comment: the RSI is mixed to bullish.

 

Crude Oil (WTI) (H6) Intraday: continuation of the rebound.

 

 

Pivot: 30.51

Our preference: long positions above 30.51 with targets @ 33.31 & 34.3 in extension.

Alternative scenario: below 30.51 look for further downside with 30 & 29.33 as targets.

Comment: the RSI lacks downward momentum.

 

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: https://www.orbex.com/

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