Cryptocurrencies and forex analysis 01/03/2019



<br /> Market Brief<br />



Thursday, January 3, 2019

EUR/USD Intraday: the upside prevails.
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Pivot: 1.1335

Our preference: long positions above 1.1335 with targets at 1.1400 & 1.1435 in extension.

Alternative scenario: below 1.1335 look for further downside with 1.1310 & 1.1270 as targets.

Comment: the RSI shows upside 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

 

TRADE NOW

* Trading is risky and your entire investment may be at risk.

GBP/USD Intraday: under pressure.
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Pivot: 1.2580

Our preference: short positions below 1.2580 with targets at 1.2525 & 1.2505 in extension.

Alternative scenario: above 1.2580 look for further upside with 1.2615 & 1.2660 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

 

TRADE NOW

* Trading is risky and your entire investment may be at risk.

Gold spot Intraday: the upside prevails.
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Pivot: 1282.00

Our preference: long positions above 1282.00 with targets at 1295.00 & 1300.00 in extension.

Alternative scenario: below 1282.00 look for further downside with 1278.00 & 1273.50 as targets.

Comment: the RSI calls for a new upleg.

Green Lines Represent Resistances | 
Red Lines Represent Support Levels | 
Light Blue is a Pivot Point | 
Black represents the price when the report was produced

 

TRADE NOW

* Trading is risky and your entire investment may be at risk.

Crude Oil (WTI) (G19) Intraday: key resistance at 46.20.
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Pivot: 46.20

Our preference: short positions below 46.20 with targets at 44.40 & 43.50 in extension.

Alternative scenario: above 46.20 look for further upside with 47.20 & 47.80 as targets.

Comment: technically the RSI is below its neutrality area at 50.

Green Lines Represent Resistances | 
Red Lines Represent Support Levels | 
Light Blue is a Pivot Point | 
Black represents the price when the report was produced

 

TRADE NOW

* Trading is risky and your entire investment may be at risk.

Bitcoin / Dollar intraday: target 3588
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Our pivot point is at 3967.

Our preference: target 3588.

Alternative scenario: above 3967, look for 4111 and 4198.

Comment: the RSI is below 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the pair is trading under its 20 MA (3872) but above its 50 MA (3839).

Green Lines Represent Resistances | 
Red Lines Represent Support Levels | 
Light Blue is a Pivot Point | 
Black represents the price when the report was produced

 

TRADE NOW

* Trading is risky and your entire investment may be at risk.

USD/JPY Intraday: consolidation.
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Pivot: 107.85

Our preference: short positions below 107.85 with targets at 106.70 & 105.80 in extension.

Alternative scenario: above 107.85 look for further upside with 108.70 & 109.50 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

 

TRADE NOW

* Trading is risky and your entire investment may be at risk.

Dow Jones Intraday: choppy.
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Pivot: 23610

Our preference: short positions below 23610 with targets at 22870 & 22530 in extension.

Alternative scenario: above 23610 look for further upside with 24050 & 24450 as targets.

Comment: as long as 23610 is resistance, expect a return to 22870.

Green Lines Represent Resistances | 
Red Lines Represent Support Levels | 
Light Blue is a Pivot Point | 
Black represents the price when the report was produced

 

TRADE NOW

* Trading is risky and your entire investment may be at risk.

Dax Intraday: choppy.
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Pivot: 10380.00

Our preference: long positions above 10380.00 with targets at 10540.00 & 10615.00 in extension.

Alternative scenario: below 10380.00 look for further downside with 10330.00 & 10280.00 as targets.

Comment: the RSI is mixed.

Green Lines Represent Resistances | 
Red Lines Represent Support Levels | 
Light Blue is a Pivot Point | 
Black represents the price when the report was produced

 

TRADE NOW

* Trading is risky and your entire investment may be at risk.