EUROPEAN MARKETS NEWS REPORT 15 March 2016
15/03/2016
EUROPEAN MARKETS NEWS REPORT 16 March 2016
16/03/2016
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Technical Analysis Newsletter Tuesday, March 15, 2016

 

Please note the time on the charts it was published

 

EUR/USD Intraday: rebound expected.
Pivot: 1.1080

Our preference: long positions above 1.1080 with targets @ 1.1165 & 1.1220 in extension.

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

Comment: the RSI has just landed on its neutrality area at 50% and is turning up.

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 downside prevails.
Pivot: 1.4335

Our preference: short positions below 1.4335 with targets @ 1.4250 & 1.4180 in extension.

Alternative scenario: above 1.4335 look for further upside with 1.4370 & 1.4440 as targets.

Comment: a break below 1.4250 would trigger a drop towards 1.4180.

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: under pressure.
Pivot: 114.15

Our preference: short positions below 114.15 with targets @ 113.10 & 112.70 in extension.

Alternative scenario: above 114.15 look for further upside with 114.55 & 115.00 as targets.

Comment: the RSI is badly 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

AUD/USD Intraday: the downside prevails.
Pivot: 0.7530

Our preference: short positions below 0.7530 with targets @ 0.7455 & 0.7425 in extension.

Alternative scenario: above 0.7530 look for further upside with 0.7555 & 0.7595 as targets.

Comment: the RSI is mixed to bearish. The pair has validated a bearish flag continuation pattern.

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 downside prevails.
Pivot: 0.6730

Our preference: short positions below 0.6730 with targets @ 0.6615 & 0.6590 in extension.

Alternative scenario: above 0.6730 look for further upside with 0.6770 & 0.6815 as targets.

Comment: the RSI is badly 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

S&P 500 (CME) (M6) Intraday: intraday support around 1994.00.
Pivot: 1994.00

Our preference: long positions above 1994.00 with targets @ 2017.00 & 2028.00 in extension.

Alternative scenario: below 1994.00 look for further downside with 1979.00 & 1958.00 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: 1238.00

Our preference: short positions below 1238.00 with targets @ 1219.50 & 1215.00 in extension.

Alternative scenario: above 1238.00 look for further upside with 1248.00 & 1259.00 as targets.

Comment: the RSI is mixed 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: under pressure.
Pivot: 37.80

Our preference: short positions below 37.80 with targets @ 36.55 & 36.05 in extension.

Alternative scenario: above 37.80 look for further upside with 38.22 & 38.90 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

 

 

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