Technical Analysis

22 January 2014, Wednesday ( Time +5:30 GMT - 12:30 PM )

EUR/USD Intraday: under pressure. Pivot: 1.358 Our preference: Short positions below 1.358 with targets @ 1.3505 & 1.3445 in extension. Alternative scenario: Above 1.358 look for further upside with 1.362 & 1.3645 as targets. Comment: The pair has struck against its resistance and remains under pressure. Next

GBP/USD Intraday: the bias remains bullish. Pivot: 1.6425 Our preference: Long positions above 1.6425 with targets @ 1.6515 & 1.6545 in extension. Alternative scenario: Below 1.6425 look for further downside with 1.6395 & 1.6345 as targets. Comment: the RSI lacks downward momentum.  Previous |  Next

USD/CHF Intraday: intraday support around 0.908. Pivot: 0.908 Our preference: Long positions above 0.908 with targets @ 0.9155 & 0.9185 in extension. Alternative scenario: Below 0.908 look for further downside with 0.9055 & 0.9035 as targets. Comment: a support base at 0.908 has formed and has allowed for a temporary stabilisation.  Previous |  Next

USD/JPY Intraday: rebound. Pivot: 103.9 Our preference: Long positions above 103.9 with targets @ 104.75 & 104.9 in extension. Alternative scenario: Below 103.9 look for further downside with 103.5 & 103.2 as targets. Comment: The pair is rebounding and is breaking above its resistance.  Previous |  Next

AUD/USD Intraday: the upside prevails. Pivot: 0.877 Our preference: Long positions above 0.877 with targets @ 0.888 & 0.892 in extension. Alternative scenario: Below 0.877 look for further downside with 0.8705 & 0.867 as targets. Comment: The pair has broken above a key resistance and remains on the upside.  Previous |  Next

Gold spot Intraday: under pressure. Pivot: 1251 Our preference: Short positions below 1251 with targets @ 1234 & 1227 in extension. Alternative scenario: Above 1251 look for further upside with 1257 & 1262 as targets. Comment: as long as 1251 is resistance, expect a return to 1234.  Previous |  Next

Silver spot Intraday: under pressure. Pivot: 20.18 Our preference: Short positions below 20.18 with targets @ 19.6 & 19.3 in extension. Alternative scenario: Above 20.18 look for further upside with 20.4 & 20.6 as targets. Comment: as long as 20.18 is resistance, look for choppy price action with a bearish bias.  Previous |  Next

Crude Oil (NYMEX) (Mar 14) Intraday: further advance. Pivot: 94.3 Our preference: Long positions above 94.3 with targets @ 95.9 & 96.5 in extension. Alternative scenario: Below 94.3 look for further downside with 93.65 & 93.1 as targets. Comment: the RSI is supported by a rising trend line.  Previous