Cryptocurrencies and forex analysis 01/21/2019



<br /> Market Brief<br />



Monday, January 21, 2019

EUR/USD Intraday: continuation of the rebound.
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Pivot: 1.1370

Our preference: long positions above 1.1370 with targets at 1.1395 & 1.1410 in extension.

Alternative scenario: below 1.1370 look for further downside with 1.1360 & 1.1350 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.

GBP/USD Intraday: under pressure.
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Pivot: 1.2900

Our preference: short positions below 1.2900 with targets at 1.2830 & 1.2800 in extension.

Alternative scenario: above 1.2900 look for further upside with 1.2925 & 1.2965 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.

Gold spot Intraday: the downside prevails.
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Pivot: 1285.00

Our preference: short positions below 1285.00 with targets at 1280.00 & 1278.00 in extension.

Alternative scenario: above 1285.00 look for further upside with 1287.50 & 1290.00 as targets.

Comment: as long as the resistance at 1285.00 is not surpassed, the risk of the break below 1280.00 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: the upside prevails.
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Pivot: 53.35

Our preference: long positions above 53.35 with targets at 54.35 & 54.90 in extension.

Alternative scenario: below 53.35 look for further downside with 52.90 & 52.45 as targets.

Comment: the RSI calls for a new upleg.

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 3682
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Our pivot point is at 3466.

Our preference: rebound towards 3682.

Alternative scenario: below 3466, expect 3383 and 3333.

Comment: the RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the pair stands below its 20 and 50 MAs (respectively at 3537 and 3571).

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.
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Pivot: 109.35

Our preference: long positions above 109.35 with targets at 109.90 & 110.10 in extension.

Alternative scenario: below 109.35 look for further downside with 109.10 & 108.90 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.

Dow Jones Intraday: further upside.
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Pivot: 24350

Our preference: long positions above 24350 with targets at 24860 & 25110 in extension.

Alternative scenario: below 24350 look for further downside with 24075 & 23800 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: consolidation.
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Pivot: 11230.00

Our preference: short positions below 11230.00 with targets at 11100.00 & 11055.00 in extension.

Alternative scenario: above 11230.00 look for further upside with 11270.00 & 11330.00 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.