Market Technical Analysis

2 February, 2021

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EUR/USD Intraday: under pressure.
Pivot: 1.2085

Our preference: short positions below 1.2085 with targets at 1.2000 & 1.1980 in extension.

Alternative scenario: above 1.2085 look for further upside with 1.2100 & 1.2120 as targets.

Comment: the RSI shows downside momentum.

USD/CHF Intraday: the upside prevails.
Pivot: 0.8935

Our preference: long positions above 0.8935 with targets at 0.9000 & 0.9020 in extension.

Alternative scenario: below 0.8935 look for further downside with 0.8920 & 0.8900 as targets.

Comment: the RSI shows upside momentum.

USD/JPY Intraday: the upside prevails.
Pivot: 104.80

Our preference: long positions above 104.80 with targets at 105.15 & 105.35 in extension.

Alternative scenario: below 104.80 look for further downside with 104.60 & 104.45 as targets.

Comment: the RSI is mixed to bullish.

GBP/USD Intraday: intraday support around 1.3655.
Pivot: 1.3655

Our preference: long positions above 1.3655 with targets at 1.3710 & 1.3745 in extension.

Alternative scenario: below 1.3655 look for further downside with 1.3630 & 1.3610 as targets.

Comment: the RSI is mixed to bullish.

AUD/USD Intraday: under pressure.
Pivot: 0.7635

Our preference: short positions below 0.7635 with targets at 0.7585 & 0.7565 in extension.

Alternative scenario: above 0.7635 look for further upside with 0.7660 & 0.7685 as targets.

Comment: the RSI shows downside momentum.

USD/CAD Intraday: under pressure.
Pivot: 1.2835

Our preference: short positions below 1.2835 with targets at 1.2775 & 1.2760 in extension.

Alternative scenario: above 1.2835 look for further upside with 1.2860 & 1.2875 as targets.

Comment: the RSI shows downside momentum.

Gold Intraday: the downside prevails.
Pivot: 1854.00

Our preference: short positions below 1854.00 with targets at 1841.00 & 1833.00 in extension.

Alternative scenario: above 1854.00 look for further upside with 1863.00 & 1869.00 as targets.

Comment: as long as the resistance at 1854.00 is not surpassed, the risk of the break below 1841.00 remains high.

Crude Oil (WTI) (H1) Intraday: further upside.
Pivot: 54.05

Our preference: long positions above 54.05 with targets at 55.45 & 56.00 in extension.

Alternative scenario: below 54.05 look for further downside with 53.40 & 52.90 as targets.

Comment: the RSI is bullish and calls for further advance.