Cryptocurrencies and forex analysis 01/16/2019



<br /> Market Brief<br />



Wednesday, January 16, 2019

EUR/USD Intraday: under pressure.
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Pivot: 1.1430

Our preference: short positions below 1.1430 with targets at 1.1380 & 1.1345 in extension.

Alternative scenario: above 1.1430 look for further upside with 1.1460 & 1.1490 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.

GBP/USD Intraday: the bias remains bullish.
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Pivot: 1.2820

Our preference: long positions above 1.2820 with targets at 1.2930 & 1.2975 in extension.

Alternative scenario: below 1.2820 look for further downside with 1.2770 & 1.2730 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.

Gold spot Intraday: key resistance at 1293.00.
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Pivot: 1293.00

Our preference: short positions below 1293.00 with targets at 1286.00 & 1284.00 in extension.

Alternative scenario: above 1293.00 look for further upside with 1295.00 & 1297.00 as targets.

Comment: as long as the resistance at 1293.00 is not surpassed, the risk of the break below 1286.00 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.

Crude Oil (WTI) (G19) Intraday: further upside.
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Pivot: 51.60

Our preference: long positions above 51.60 with targets at 52.75 & 53.30 in extension.

Alternative scenario: below 51.60 look for further downside with 51.10 & 50.40 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.

Bitcoin / Dollar intraday: rebound
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3527 is our pivot point.

Our preference: rebound.

Alternative scenario: below 3527, expect 3432 and 3376.

Comment: the RSI is above 50. The MACD is above its signal line and negative. The MACD must break above its zero level to call for further upside. Moreover, the pair stands above its 20 MA (3589) but below its 50 MA (3624).

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: 108.75

Our preference: short positions below 108.75 with targets at 108.30 & 108.10 in extension.

Alternative scenario: above 108.75 look for further upside with 109.00 & 109.30 as targets.

Comment: as long as the resistance at 108.75 is not surpassed, the risk of the break below 108.30 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.

Dow Jones Intraday: further advance.
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Pivot: 23765

Our preference: long positions above 23765 with targets at 24225 & 24450 in extension.

Alternative scenario: below 23765 look for further downside with 23440 & 23040 as targets.

Comment: a support base at 23765 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.

Dax Intraday: intraday support around 10860.00.
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Pivot: 10860.00

Our preference: long positions above 10860.00 with targets at 11000.00 & 11070.00 in extension.

Alternative scenario: below 10860.00 look for further downside with 10810.00 & 10760.00 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.