Cryptocurrencies and forex analysis 01/11/2019



<br /> Market Brief<br />



Friday, January 11, 2019

EUR/USD Intraday: key resistance at 1.1540.
Next Prev arrow
Pivot: 1.1540

Our preference: short positions below 1.1540 with targets at 1.1500 & 1.1480 in extension.

Alternative scenario: above 1.1540 look for further upside with 1.1570 & 1.1595 as targets.

Comment: the upward potential is likely to be limited by the resistance at 1.1540.

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: key resistance at 1.2780.
Previous Prev arrow
Next Prev arrow
Pivot: 1.2780

Our preference: short positions below 1.2780 with targets at 1.2705 & 1.2680 in extension.

Alternative scenario: above 1.2780 look for further upside with 1.2805 & 1.2820 as targets.

Comment: as long as the resistance at 1.2780 is not surpassed, the risk of the break below 1.2705 remains high.

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: further upside.
Previous Prev arrow
Next Prev arrow
Pivot: 1289.00

Our preference: long @ 1292.00 with targets @ 1298.00 & 1304.00 in extension.

Alternative scenario: below 1289.00 look for further downside with 1285.50 & 1281.50 as targets.

Comment: the RSI is bullish and calls for further advance.

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: the upside prevails.
Previous Prev arrow
Next Prev arrow
Pivot: 52.00

Our preference: long positions above 52.00 with targets at 53.35 & 53.80 in extension.

Alternative scenario: below 52.00 look for further downside with 51.35 & 50.95 as targets.

Comment: the RSI is bullish and calls for further upside.

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: rebound towards 3828
Previous Prev arrow
Next Prev arrow
Our pivot point stands at 3511.

Our preference: rebound towards 3828.

Alternative scenario: the downside breakout of 3511 would call for 3391 and 3320.

Comment: the RSI is below 30. It could either mean that the pair is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is negative and above its signal line. The configuration is mixed. Moreover, the pair is trading under both its 20 and 50 MAs (respectively at 3624 and 3708).

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: the upside prevails.
Previous Prev arrow
Next Prev arrow
Pivot: 108.00

Our preference: long positions above 108.00 with targets at 108.50 & 108.80 in extension.

Alternative scenario: below 108.00 look for further downside with 107.75 & 107.50 as targets.

Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

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 advance.
Previous Prev arrow
Next Prev arrow
Pivot: 23675

Our preference: long positions above 23675 with targets at 24080 & 24560 in extension.

Alternative scenario: below 23675 look for further downside with 23440 & 23040 as targets.

Comment: the RSI advocates for further advance.

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: caution.
Previous Prev arrow
Top Prev arrow
Pivot: 10840.00

Our preference: long positions above 10840.00 with targets at 10960.00 & 11040.00 in extension.

Alternative scenario: below 10840.00 look for further downside with 10747.00 & 10680.00 as targets.

Comment: investors have to remain cautious since these levels may trigger profit taking.

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.