EU Session Bullet Report - USD Drops The Most In A Day Since 2009

EUR/USD Intraday: further advance.

Pivot: 1.1

Most likely scenario: long positions above 1.1 with targets @ 1.115 & 1.12 in extension.

Alternative scenario: below 1.1 look for further downside with 1.094 & 1.09 as targets.

Comment: technically the RSI is above its neutrality area at 50.

https://private.tradingcentral.com/chart/74_20160204070841.gif

Gold spot Intraday: the upside prevails.

Pivot: 1131

Most likely scenario: long positions above 1131 with targets @ 1148 & 1151 in extension.

Alternative scenario: below 1131 look for further downside with 1123 & 1115 as targets.

Comment: the RSI is mixed to bullish.

https://private.tradingcentral.com/chart/169_20160204071052.gif

Crude Oil (WTI) (H6) Intraday: rebound.

Pivot: 31.29

Most likely scenario: long positions above 31.29 with targets @ 33.37 & 33.9 in extension.

Alternative scenario: below 31.29 look for further downside with 30.6 & 29.94 as targets.

Comment: the RSI is mixed with a bullish bias.

https://private.tradingcentral.com/chart/174_20160204071054.gif

GBP/USD Intraday: the bias remains bullish.

Pivot: 1.452

Most likely scenario: long positions above 1.452 with targets @ 1.464 & 1.4685 in extension.

Alternative scenario: below 1.452 look for further downside with 1.444 & 1.438 as targets.

Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

https://private.tradingcentral.com/chart/76_20160204070829.gif

USD/JPY Intraday: the downside prevails.

Pivot: 119

Most likely scenario: short positions below 119 with targets @ 117 & 116.7 in extension.

Alternative scenario: above 119 look for further upside with 119.65 & 120 as targets.

Comment: as long as 119 is resistance, look for choppy price action with a bearish bias.

https://private.tradingcentral.com/chart/75_20160204070832.gif

AUD/USD Intraday: the upside prevails.

Pivot: 0.7115

Most likely scenario: long positions above 0.7115 with targets @ 0.719 & 0.7235 in extension.

Alternative scenario: below 0.7115 look for further downside with 0.707 & 0.7035 as targets.

Comment: technically the RSI is above its neutrality area at 50.

https://private.tradingcentral.com/chart/73_20160204070831.gif

Dax (Eurex) (H6) Intraday: key resistance at 9670.

Pivot: 9670

Most likely scenario: short positions below 9670 with targets @ 9330 & 9250 in extension.

Alternative scenario: above 9670 look for further upside with 9795 & 9920 as targets.

Comment: as long as the resistance at 9670 is not surpassed, the risk of the break below 9330 remains high.

https://private.tradingcentral.com/chart/23359_20160204080544.gif

USD/CHF Intraday: the downside prevails.

Pivot: 1.013

Most likely scenario: short positions below 1.013 with targets @ 0.998 & 0.996 in extension.

Alternative scenario: above 1.013 look for further upside with 1.019 & 1.0255 as targets.

Comment: the RSI lacks upward momentum.

https://private.tradingcentral.com/chart/77_20160204070843.gif

USD/CAD Intraday: the downside prevails.

Pivot: 1.3915

Most likely scenario: short positions below 1.3915 with targets @ 1.37 & 1.3625 in extension.

Alternative scenario: above 1.3915 look for further upside with 1.4 & 1.4075 as targets.

Comment: even though a continuation of the technical rebound cannot be ruled out, its extent should be limited.

https://private.tradingcentral.com/chart/86_20160204070833.gif

EUR/JPY Intraday: the bias remains bullish.

Pivot: 130.15

Most likely scenario: long positions above 130.15 with targets @ 131.3 & 132 in extension.

Alternative scenario: below 130.15 look for further downside with 129.6 & 129 as targets.

Comment: the RSI is mixed to bullish.

https://private.tradingcentral.com/chart/79_20160204070836.gif

Disclosure: None.

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