Cryptocurrencies and forex analysis 01/22/2019



<br /> Market Brief<br />



Tuesday, January 22, 2019

EUR/USD Intraday: under pressure.
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Pivot: 1.1375

Our preference: short positions below 1.1375 with targets at 1.1345 & 1.1335 in extension.

Alternative scenario: above 1.1375 look for further upside with 1.1390 & 1.1410 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: 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 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: continuation of the rebound.
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Pivot: 1279.50

Our preference: long positions above 1279.50 with targets at 1286.50 & 1289.00 in extension.

Alternative scenario: below 1279.50 look for further downside with 1276.50 & 1273.50 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.

Crude Oil (WTI) (G19) Intraday: under pressure.
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Pivot: 53.80

Our preference: short positions below 53.80 with targets at 52.90 & 52.45 in extension.

Alternative scenario: above 53.80 look for further upside with 54.25 & 54.70 as targets.

Comment: the RSI calls for a new downleg.

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 3593 is resistance
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Our pivot point stands at 3593.

Our preference: the downside prevails as long as 3593 is resistance.

Alternative scenario: the upside breakout of 3593, would call for 3675 and 3723.

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 3533 and 3536).

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: under pressure.
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Pivot: 109.60

Our preference: short positions below 109.60 with targets at 109.30 & 109.10 in extension.

Alternative scenario: above 109.60 look for further upside with 109.70 & 109.90 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: 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 in place.
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Pivot: 11180.00

Our preference: short positions below 11180.00 with targets at 11065.00 & 11020.00 in extension.

Alternative scenario: above 11180.00 look for further upside with 11230.00 & 11270.00 as targets.

Comment: as long as 11180.00 is resistance, look for choppy price action with a bearish bias.

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.