Cryptocurrencies and forex analysis 01/23/2019



<br /> Market Brief<br />



Wednesday, January 23, 2019

EUR/USD Intraday: key resistance at 1.1375.
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Pivot: 1.1375

Our preference: short positions below 1.1375 with targets at 1.1335 & 1.1310 in extension.

Alternative scenario: above 1.1375 look for further upside with 1.1390 & 1.1410 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.

GBP/USD Intraday: the bias remains bullish.
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Pivot: 1.2920

Our preference: long positions above 1.2920 with targets at 1.2975 & 1.3000 in extension.

Alternative scenario: below 1.2920 look for further downside with 1.2890 & 1.2855 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.

Gold spot Intraday: continuation of the rebound.
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Pivot: 1281.00

Our preference: long positions above 1281.00 with targets at 1286.50 & 1289.00 in extension.

Alternative scenario: below 1281.00 look for further downside with 1278.50 & 1276.50 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.

Crude Oil (WTI) (H19) Intraday: continuation of the rebound.
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Pivot: 52.70

Our preference: long positions above 52.70 with targets at 53.75 & 54.00 in extension.

Alternative scenario: below 52.70 look for further downside with 52.35 & 52.05 as targets.

Comment: the RSI calls for a bounce.

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: target 3435
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Our pivot point stands at 3638.

Our preference: target 3435.

Alternative scenario: above 3638, look for 3715 and 3761.

Comment: the RSI is below 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the pair is below its 20 MA (3582) but above its 50 MA (3561).

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: 109.30

Our preference: long positions above 109.30 with targets at 109.90 & 110.25 in extension.

Alternative scenario: below 109.30 look for further downside with 109.10 & 108.85 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: under pressure.
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Pivot: 24610

Our preference: short positions below 24610 with targets at 24135 & 23995 in extension.

Alternative scenario: above 24610 look for further upside with 24750 & 24860 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.

Dax Intraday: rebound in sight.
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Pivot: 10960.00

Our preference: long positions above 10960.00 with targets at 11100.00 & 11150.00 in extension.

Alternative scenario: below 10960.00 look for further downside with 10910.00 & 10830.00 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.