Daily Technical Analysis(2015.12.29)
EUR/USD Intraday: the upside prevails.
Most Likely Scenario: long positions above 1.094 with targets @ 1.101 & 1.103 in extension.
Alternative scenario: below 1.094 look for further downside with 1.09 & 1.0865 as targets.
Comment: the RSI lacks downward momentum.
GBP/USD Intraday: key resistance at 1.493.
Most Likely Scenario: short positions below 1.493 with targets @ 1.4855 & 1.483 in extension.
Alternative scenario: above 1.493 look for further upside with 1.4945 & 1.4985 as targets.
Comment: even though a continuation of the technical rebound cannot be ruled out, its extent should be limited.
USD/JPY Intraday: under pressure.
Most Likely Scenario: short positions below 120.75 with targets @ 120 & 119.8 in extension.
Alternative scenario: above 120.75 look for further upside with 121 & 121.3 as targets.
Comment: as long as 120.75 is resistance, look for choppy price action with a bearish bias.
AUD/USD Intraday: bullish bias above 0.724.
Most Likely Scenario: long positions above 0.724 with targets @ 0.7285 & 0.7315 in extension.
Alternative scenario: below 0.724 look for further downside with 0.7205 & 0.718 as targets.
Comment: a support base at 0.724 has formed and has allowed for a temporary stabilisation.
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