Cryptocurrencies and forex analysis 01/24/2019



<br /> Market Brief<br />



Thursday, January 24, 2019

EUR/USD Intraday: the downside prevails.
Next Prev arrow
Pivot: 1.1380

Our preference: short positions below 1.1380 with targets at 1.1335 & 1.1310 in extension.

Alternative scenario: above 1.1380 look for further upside with 1.1390 & 1.1400 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: under pressure.
Previous Prev arrow
Next Prev arrow
Pivot: 1.3075

Our preference: short positions below 1.3075 with targets at 1.3015 & 1.2975 in extension.

Alternative scenario: above 1.3075 look for further upside with 1.3095 & 1.3120 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: under pressure.
Previous Prev arrow
Next Prev arrow
Pivot: 1283.50

Our preference: short positions below 1283.50 with targets at 1276.50 & 1274.00 in extension.

Alternative scenario: above 1283.50 look for further upside with 1286.00 & 1289.00 as targets.

Comment: the RSI advocates for further downside.

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: key resistance at 52.95.
Previous Prev arrow
Next Prev arrow
Pivot: 52.95

Our preference: short positions below 52.95 with targets at 51.85 & 51.30 in extension.

Alternative scenario: above 52.95 look for further upside with 53.35 & 53.65 as targets.

Comment: the RSI is below its neutrality area at 50%

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 3599 is resistance
Previous Prev arrow
Next Prev arrow
Our pivot point is at 3599.

Our preference: the downside prevails as long as 3599 is resistance.

Alternative scenario: the upside breakout of 3599, would call for 3675 and 3720.

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 is trading under both its 20 and 50 MAs (respectively at 3544 and 3559).

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: consolidation.
Previous Prev arrow
Next Prev arrow
Pivot: 109.75

Our preference: short positions below 109.75 with targets at 109.35 & 109.10 in extension.

Alternative scenario: above 109.75 look for further upside with 110.00 & 110.25 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.

Dow Jones Intraday: choppy.
Previous Prev arrow
Next Prev arrow
Pivot: 24665

Our preference: short positions below 24665 with targets at 24415 & 24300 in extension.

Alternative scenario: above 24665 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: intraday support around 10990.00.
Previous Prev arrow
Top Prev arrow
Pivot: 10990.00

Our preference: long positions above 10990.00 with targets at 11100.00 & 11140.00 in extension.

Alternative scenario: below 10990.00 look for further downside with 10945.00 & 10918.00 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.