Technical Analysis

21 January 2014 ( Time +5:30 GMT - 1:30 PM )

EUR/USD Intraday: key resistance at 1.358. 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 RSI lacks upward momentum. Next

GBP/USD Intraday: the bias remains bullish. Pivot: 1.638 Our preference: Long positions above 1.638 with targets @ 1.6465 & 1.6515 in extension. Alternative scenario: Below 1.638 look for further downside with 1.6345 & 1.6305 as targets. Comment: The pair is shaping a continuation triangle.  Previous |  Next

USD/CHF Intraday: the upside prevails. Pivot: 0.908 Our preference: Long positions above 0.908 with targets @ 0.9135 & 0.9185 in extension. Alternative scenario: Below 0.908 look for further downside with 0.9055 & 0.9035 as targets. Comment: the RSI is well directed.  Previous |  Next

USD/JPY Intraday: the upside prevails. Pivot: 104.15 Our preference: Long @ 104.25 with targets @ 105.05 & 105.45 in extension. Alternative scenario: Below 104.15 look for further downside with 103.9 & 103.5 as targets. Comment: the RSI is bullish and calls for further upside.  Previous |  Next

AUD/USD Intraday: key resistance at 0.8835. Pivot: 0.8835 Our preference: Short positions below 0.8835 with targets @ 0.8785 & 0.875 in extension. Alternative scenario: Above 0.8835 look for further upside with 0.888 & 0.892 as targets. Comment: the upward potential is likely to be limited by the resistance at 0.8835.  Previous |  Next

Gold spot Intraday: watch 1265. Pivot: 1249 Our preference: Long positions above 1249 with targets @ 1262 & 1265 in extension. Alternative scenario: Below 1249 look for further downside with 1242 & 1234 as targets. Comment: the RSI has just broken above a declining trend line.  Previous |  Next

Silver spot Intraday: bullish bias above 20.15. Pivot: 20.15 Our preference: Long positions above 20.15 with targets @ 20.48 & 20.6 in extension. Alternative scenario: Below 20.15 look for further downside with 19.9 & 19.6 as targets. Comment: the next resistances are at 20.48 and then at 20.6.  Previous |  Next

Crude Oil (NYMEX) (Mar 14) Intraday: consolidation. Pivot: 95.05 Our preference: Short positions below 95.05 with targets @ 93.55 & 93.05 in extension. Alternative scenario: Above 95.05 look for further upside with 95.9 & 96.5 as targets. Comment: as long as 95.05 is resistance, likely decline to 93.55.  Previous