Cryptocurrencies and forex analysis 01/18/2019



<br /> Market Brief<br />



Friday, January 18, 2019

EUR/USD Intraday: consolidation.
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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: 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.

GBP/USD Intraday: the bias remains bullish.
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Pivot: 1.2930

Our preference: long positions above 1.2930 with targets at 1.3000 & 1.3050 in extension.

Alternative scenario: below 1.2930 look for further downside with 1.2880 & 1.2830 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.

Gold spot Intraday: watch 1286.50.
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Pivot: 1293.50

Our preference: short positions below 1293.50 with targets at 1288.50 & 1286.50 in extension.

Alternative scenario: above 1293.50 look for further upside with 1295.50 & 1297.00 as targets.

Comment: the RSI calls for a drop.

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 advance.
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Pivot: 52.05

Our preference: long positions above 52.05 with targets at 53.30 & 53.80 in extension.

Alternative scenario: below 52.05 look for further downside with 51.65 & 51.05 as targets.

Comment: the RSI advocates 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: below its lower Bollinger band
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Our pivot point is at 3694.

Our preference: target 3462.

Alternative scenario: above 3694, look for 3779 and 3830.

Comment: the RSI is below 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the pair is below its 20 MA (3629) but above its 50 MA (3609). Finally, the Bitcoin / Dollar has penetrated its lower Bollinger band (3619).

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 bias remains bullish.
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Pivot: 109.10

Our preference: long positions above 109.10 with targets at 109.75 & 110.00 in extension.

Alternative scenario: below 109.10 look for further downside with 108.90 & 108.65 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: supported by a rising trend line.
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Pivot: 24075

Our preference: long positions above 24075 with targets at 24630 & 24860 in extension.

Alternative scenario: below 24075 look for further downside with 23890 & 23680 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: bullish bias above 10920.00.
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Pivot: 10920.00

Our preference: long positions above 10920.00 with targets at 11070.00 & 11140.00 in extension.

Alternative scenario: below 10920.00 look for further downside with 10810.00 & 10700.00 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.