Daily Technical Strategies 15-01-2016by FX Grow
EUR/USD Intraday: key resistance at 1.0895.
Pivot: 1.0895
Our preference: short positions below 1.0895 with targets @ 1.0835 & 1.08 in extension.
Alternative scenario: above 1.0895 look for further upside with 1.0945 & 1.0975 as targets.
Comment: the upward potential is likely to be limited by the resistance at 1.0895.
Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point | Black represents the price when the report was produced
GBP/USD Intraday: the bias remains bullish.
Pivot: 1.435
Our preference: long positions above 1.435 with targets @ 1.443 & 1.4475 in extension.
Alternative scenario: below 1.435 look for further downside with 1.43 & 1.4225 as targets.
Comment: the RSI is mixed to bullish.
Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point | Black represents the price when the report was produced
USD/JPY Intraday: key resistance at 118.35.
Pivot: 118.35
Our preference: short positions below 118.35 with targets @ 117.55 & 117.2 in extension.
Alternative scenario: above 118.35 look for further upside with 118.6 & 118.85 as targets.
Comment: the RSI is mixed to bearish.
Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point | Black represents the price when the report was produced
AUD/USD Intraday: under pressure.
Pivot: 0.7
Our preference: short positions below 0.7 with targets @ 0.6905 & 0.6865 in extension.
Alternative scenario: above 0.7 look for further upside with 0.704 & 0.7065 as targets.
Comment: the RSI is badly directed.
Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point | Black represents the price when the report was produced
Crude Oil (WTI) (G6) Intraday: key resistance at 31.6.
Pivot: 31.6
Our preference: short positions below 31.6 with targets @ 30 & 29.05 in extension.
Alternative scenario: above 31.6 look for further upside with 32.2 & 33.15 as targets.
Comment: as long as 31.6 is resistance, look for choppy price action with a bearish bias.
Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point | Black represents the price when the report was produced
Gold spot Intraday: capped by a negative trend line.
Pivot: 1084
Our preference: short positions below 1084 with targets @ 1070 & 1063 in extension.
Alternative scenario: above 1084 look for further upside with 1089 & 1095 as targets.
Comment: the RSI lacks upward momentum.
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.fxgrow.com
