Cryptocurrencies and forex analysis 01/17/2019



<br /> Market Brief<br />



Thursday, January 17, 2019

EUR/USD Intraday: capped by a negative trend line.
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Pivot: 1.1410

Our preference: short positions below 1.1410 with targets at 1.1370 & 1.1340 in extension.

Alternative scenario: above 1.1410 look for further upside with 1.1425 & 1.1455 as targets.

Comment: a break below 1.1370 would trigger a drop towards 1.1340.

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: turning down.
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Pivot: 1.2895

Our preference: short positions below 1.2895 with targets at 1.2800 & 1.2770 in extension.

Alternative scenario: above 1.2895 look for further upside with 1.2930 & 1.2975 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: bullish bias above 1290.25.
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Pivot: 1290.25

Our preference: long positions above 1290.25 with targets at 1295.00 & 1297.00 in extension.

Alternative scenario: below 1290.25 look for further downside with 1287.75 & 1286.00 as targets.

Comment: the RSI lacks downward 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.

Crude Oil (WTI) (G19) Intraday: supported by a rising trend line.
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Pivot: 51.55

Our preference: long positions above 51.55 with targets at 52.50 & 52.80 in extension.

Alternative scenario: below 51.55 look for further downside with 51.25 & 50.75 as targets.

Comment: a support base at 51.55 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.

Bitcoin / Dollar intraday: the downside prevails as long as 3663 is resistance
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3663 is our pivot point.

Our preference: the downside prevails as long as 3663 is resistance.

Alternative scenario: the upside breakout of 3663, would call for 3756 and 3812.

Comment: the RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the pair stands below its 20 and 50 MAs (respectively at 3595 and 3603).

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: turning down.
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Pivot: 109.05

Our preference: short positions below 109.05 with targets at 108.55 & 108.30 in extension.

Alternative scenario: above 109.05 look for further upside with 109.20 & 109.45 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.

Dow Jones Intraday: bullish bias above 23765.
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Pivot: 23765

Our preference: long positions above 23765 with targets at 24450 & 24860 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: key resistance at 10950.00.
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Pivot: 10950.00

Our preference: short positions below 10950.00 with targets at 10810.00 & 10700.00 in extension.

Alternative scenario: above 10950.00 look for further upside with 11000.00 & 11070.00 as targets.

Comment: the index currently faces a challenging resistance area at 10950.00.

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.