Daily Technical Analysis Wed, Mar 15, 2017
* Please note that due to market volatility, some of the below sight prices may have already been reached and scenarios played out.
EUR/USD Intraday: capped by a negative trend line.
Pivot: 1.0645
Most Likely Scenario: short positions below 1.0645 with targets at 1.0595 & 1.0570 in extension.
Alternative scenario: above 1.0645 look for further upside with 1.0665 & 1.0690 as targets.
Comment: a break below 1.0595 would trigger a drop towards 1.0570.
GBP/USD Intraday: the RSI shows upside momentum.
Pivot: 1.2165
Most Likely Scenario: long positions above 1.2165 with targets at 1.2300 & 1.2330 in extension.
Alternative scenario: below 1.2165 look for further downside with 1.2135 & 1.2105 as targets.
Comment: the RSI shows upside momentum.
USD/JPY Intraday: The pair is shaping a bearish flag.
Pivot: 114.90
Most Likely Scenario: short @ 114.75 with targets @ 114.45 & 114.25 in extension.
Alternative scenario: above 114.90 look for further upside with 115.20 & 115.50 as targets.
Comment: The pair is shaping a bearish flag.
AUD/USD Intraday: the RSI shows upside momentum.
Pivot: 0.7545
Most Likely Scenario: long positions above 0.7545 with targets at 0.7590 & 0.7610 in extension.
Alternative scenario: below 0.7545 look for further downside with 0.7530 & 0.7510 as targets.
Comment: the RSI shows upside momentum.
Gold spot Intraday: the RSI advocates for further advance.
Pivot: 1197.00
Most Likely Scenario: long positions above 1197.00 with targets at 1207.70 & 1211.00 in extension.
Alternative scenario: below 1197.00 look for further downside with 1194.60 & 1192.00 as targets.
Comment: the RSI advocates for further advance.
Pivot: 1.0645
Most Likely Scenario: short positions below 1.0645 with targets at 1.0595 & 1.0570 in extension.
Alternative scenario: above 1.0645 look for further upside with 1.0665 & 1.0690 as targets.
Comment: a break below 1.0595 would trigger a drop towards 1.0570.
GBP/USD Intraday: the RSI shows upside momentum.
Pivot: 1.2165
Most Likely Scenario: long positions above 1.2165 with targets at 1.2300 & 1.2330 in extension.
Alternative scenario: below 1.2165 look for further downside with 1.2135 & 1.2105 as targets.
Comment: the RSI shows upside momentum.
USD/JPY Intraday: The pair is shaping a bearish flag.
Pivot: 114.90
Most Likely Scenario: short @ 114.75 with targets @ 114.45 & 114.25 in extension.
Alternative scenario: above 114.90 look for further upside with 115.20 & 115.50 as targets.
Comment: The pair is shaping a bearish flag.
AUD/USD Intraday: the RSI shows upside momentum.
Pivot: 0.7545
Most Likely Scenario: long positions above 0.7545 with targets at 0.7590 & 0.7610 in extension.
Alternative scenario: below 0.7545 look for further downside with 0.7530 & 0.7510 as targets.
Comment: the RSI shows upside momentum.
Gold spot Intraday: the RSI advocates for further advance.
Pivot: 1197.00
Most Likely Scenario: long positions above 1197.00 with targets at 1207.70 & 1211.00 in extension.
Alternative scenario: below 1197.00 look for further downside with 1194.60 & 1192.00 as targets.
Comment: the RSI advocates for further advance.
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