Cryptocurrencies and forex analysis 01/08/2019



<br /> Market Brief<br />



Tuesday, January 8, 2019

EUR/USD Intraday: under pressure.
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Pivot: 1.1465

Our preference: short positions below 1.1465 with targets at 1.1410 & 1.1385 in extension.

Alternative scenario: above 1.1465 look for further upside with 1.1480 & 1.1500 as targets.

Comment: the RSI is bearish and calls for further downside.

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: 1.2790

Our preference: short positions below 1.2790 with targets at 1.2720 & 1.2695 in extension.

Alternative scenario: above 1.2790 look for further upside with 1.2815 & 1.2850 as targets.

Comment: the RSI shows downside 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.

Gold spot Intraday: under pressure.
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Pivot: 1290.00

Our preference: short positions below 1290.00 with targets at 1276.00 & 1270.50 in extension.

Alternative scenario: above 1290.00 look for further upside with 1294.00 & 1298.50 as targets.

Comment: the RSI is bearish and calls for further decline.

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: under pressure.
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Pivot: 49.00

Our preference: short positions below 49.00 with targets at 47.95 & 47.45 in extension.

Alternative scenario: above 49.00 look for further upside with 49.45 & 49.80 as targets.

Comment: a break below 47.95 would trigger a drop towards 47.45.

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: the downside prevails as long as 4080 is resistance
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4080 is our pivot point.

Our preference: the downside prevails as long as 4080 is resistance.

Alternative scenario: above 4080, look for 4207 and 4282.

Comment: the RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the pair is trading under both its 20 and 50 MAs (respectively at 3996 and 4011).

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: further advance.
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Pivot: 108.45

Our preference: long positions above 108.45 with targets at 109.50 & 110.00 in extension.

Alternative scenario: below 108.45 look for further downside with 108.05 & 107.45 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.

Dow Jones Intraday: further upside.
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Pivot: 23170

Our preference: long positions above 23170 with targets at 24080 & 24560 in extension.

Alternative scenario: below 23170 look for further downside with 22630 & 22270 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

 

TRADE NOW

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

Dax Intraday: bullish bias above 10680.00.
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Pivot: 10680.00

Our preference: long positions above 10680.00 with targets at 10800.00 & 10900.00 in extension.

Alternative scenario: below 10680.00 look for further downside with 10610.00 & 10553.00 as targets.

Comment: a support base at 10680.00 has formed and has allowed for a temporary stabilisation.

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.