Pre US Open, Daily Technical Analysis Friday, March 13, 2015

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Courtesy of Trading Central

 

 

EUR/USD Intraday: the bias remains bullish

 

Pivot: 1.0555

Most Likely Scenario: Long positions above 1.0555 with targets @ 1.064 & 1.07 in extension.

Alternative scenario: Below 1.0555 look for further downside with 1.0495 & 1.043 as targets.

Comment: The pair has broken above a declining trend line and is pulling back on its support.

 

 
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GBP/USD Intraday: under pressure.

 

Pivot: 1.491

Most Likely Scenario: Short positions below 1.491 with targets @ 1.484 & 1.476 in extension.

Alternative scenario: Above 1.491 look for further upside with 1.495 & 1.502 as targets.

Comment: The pair is testing a support at 1.484.

 
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USD/JPY Intraday: key resistance at 121.65.

 

Pivot: 121.65

Most Likely Scenario: Short positions below 121.65 with targets @ 120.9 & 120.6 in extension.

Alternative scenario: Above 121.65 look for further upside with 122 & 122.5 as targets.

Comment: The pair is posting a rebound but stands below its resistance.

 

 
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Pre US Open, Daily Technical Analysis – Thursday, March 12, 2015

daily forex pick

 

Courtesy of Trading Central

 

 

EUR/USD Intraday: rebound

 

Pivot: 1.0495

Most Likely Scenario: Long positions above 1.0495 with targets @ 1.07 & 1.0775 in extension.

Alternative scenario: Below 1.0495 look for further downside with 1.043 & 1.032 as targets.

Comment: The pair has broken above a declining trend line and remains on the upside.

 

 

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GBP/USD Intraday: under pressure.

 

Pivot: 1.502

Most Likely Scenario: Short positions below 1.502 with targets @ 1.4885 & 1.484 in extension.

Alternative scenario: Above 1.502 look for further upside with 1.51 & 1.514 as targets.

Comment: The pair has struck against its resistance.

 

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USD/JPY Intraday: under pressure.

 

Pivot: 121.65

Most Likely Scenario: Short positions below 121.65 with targets @ 120.9 & 120.6 in extension.

Alternative scenario: Above 121.65 look for further upside with 122 & 122.5 as targets.

Comment: The pair remains on the downside.

 

 

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Pre US Open, Daily Technical Analysis Tuesday, March 10, 2015

daily forex pick

 

Courtesy of Trading Central

 

 

EUR/USD Intraday: the downside prevails

 

Pivot: 1.084

Most Likely Scenario: Short positions below 1.084 with targets @ 1.0705 & 1.065 in extension.

Alternative scenario: Above 1.084 look for further upside with 1.09 & 1.095 as targets.

Comment: The pair remains capped by a declining trend line and has broken below its previous low.

 

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GBP/USD Intraday: under pressure.

 

Pivot: 1.514

Most Likely Scenario: Short positions below 1.514 with targets @ 1.4985 & 1.495 in extension.

Alternative scenario: Above 1.514 look for further upside with 1.522 & 1.527 as targets.

Comment: The pair remains capped by a declining trend line.

 

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GBP/USD Intraday: the upside prevails.

 

Pivot: 121.1

Most Likely Scenario: Long positions above 121.1 with targets @ 122.5 & 122.95 in extension.

Alternative scenario: Below 121.1 look for further downside with 120.6 & 120.2 as targets.

Comment: The immediate trend remains up and the momentum is strong.

 

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Pre-opening technical analysis USA markets – Monday, March 09, 2015

daily forex pick

 

Courtesy of Trading Central

 

 

EUR/USD Intraday: the downside prevails

 

Pivot: 1.095

Most Likely Scenario: Short positions below 1.095 with targets @ 1.0815 & 1.075 in extension.

Alternative scenario: Above 1.095 look for further upside with 1.0985 & 1.1035 as targets.

Comment: The RSI lacks upward momentum. The pair has broken below its previous low.

 

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GBP/USD Intraday: under pressure.

 

Pivot: 1.517

Most Likely Scenario: Short positions below 1.517 with targets @ 1.503 & 1.4985 in extension.

Alternative scenario: Above 1.517 look for further upside with 1.522 & 1.527 as targets.

Comment: Even though a continuation of the technical rebound cannot be ruled out, its extent should be limited. The pair has broken below its previous low and remains on the downside.

 

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GBP/USD Intraday: the upside prevails.

 

Pivot: 120.6

Most Likely Scenario: Long positions above 120.6 with targets @ 121.28 & 121.6 in extension.

Alternative scenario: Below 120.6 look for further downside with 120.2 & 119.85 as targets.

Comment: A support base at 120.6 has formed and has allowed for a temporary stabilisation.

 

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Pre-opening technical analysis USA markets – Thursday, March 05, 2015

daily forex pick

 

Courtesy of Trading Central

 

 

EUR/USD Intraday: the downside prevails

 

Pivot: 1.111

Most Likely Scenario: Short positions below 1.111 with targets @ 1.102 & 1.0985 in extension.

Alternative scenario: Above 1.111 look for further upside with 1.115 & 1.1185 as targets.

Comment: The pair has broken below its previous low and remains on the downside.

 
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GBP/USD Intraday: under pressure.

 

Pivot: 1.53

Most Likely Scenario: Short positions below 1.53 with targets @ 1.5215 & 1.519 in extension.

Alternative scenario: Above 1.53 look for further upside with 1.5335 & 1.537 as targets.

Comment: The pair stands below its resistance and remains under pressure.

 
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