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EUR/USD Intraday: the upside prevails.
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Technical Analysis Newsletter Monday, March 14, 2016

EUR/USD Intraday: the upside prevails.
Pivot: 1.1080

Our preference: long positions above 1.1080 with targets @ 1.1220 & 1.1295 in extension.

Alternative scenario: below 1.1080 look for further downside with 1.1030 & 1.0985 as targets.

Comment: the RSI is well directed.

Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point |  Black represents the price when the report was produced

GBP/USD Intraday: the upside prevails.
Pivot: 1.4315

Our preference: long positions above 1.4315 with targets @ 1.4440 & 1.4470 in extension.

Alternative scenario: below 1.4315 look for further downside with 1.4250 & 1.4180 as targets.

Comment: technically the RSI is above 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

USD/JPY Intraday: bullish bias above 113.30.
Pivot: 113.30

Our preference: long positions above 113.30 with targets @ 114.25 & 114.55 in extension.

Alternative scenario: below 113.30 look for further downside with 112.70 & 112.20 as targets.

Comment: technically the RSI is above 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

AUD/USD Intraday: the upside prevails.
Pivot: 0.7520

Our preference: long positions above 0.7520 with targets @ 0.7620 & 0.7650 in extension.

Alternative scenario: below 0.7520 look for further downside with 0.7480 & 0.7455 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

NZD/USD Intraday: the bias remains bullish.
Pivot: 0.6705

Our preference: long positions above 0.6705 with targets @ 0.6780 & 0.6815 in extension.

Alternative scenario: below 0.6705 look for further downside with 0.6675 & 0.6645 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

S&P 500 (CME) (M6) Intraday: further upside.
Pivot: 1991.00

Our preference: long positions above 1991.00 with targets @ 2017.00 & 2028.00 in extension.

Alternative scenario: below 1991.00 look for further downside with 1985.00 & 1979.00 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

Gold spot Intraday: under pressure.
Pivot: 1261.00

Our preference: short positions below 1261.00 with targets @ 1245.00 & 1242.00 in extension.

Alternative scenario: above 1261.00 look for further upside with 1269.00 & 1279.00 as targets.

Comment: as long as 1261.00 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

Crude Oil (WTI) (J6) Intraday: further upside.
Pivot: 37.20

Our preference: long positions above 37.20 with targets @ 39.35 & 40.40 in extension.

Alternative scenario: below 37.20 look for further downside with 36.55 & 36.05 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

 

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