Daily Technical Analysis and Forex tips 5 Jan 2016

PipSpread global research team provides the latest forex market research & helps you to stay on top of the breaking financial news & currency market updates.

EUR/USD Intraday: under pressure

Our preference for short positions below 1.0805 with targets at 1.0715 & 1.069 in extension. Alternative scenario is above 1.0805 look for further upside with 1.0845 & 1.0865 as targets.

GBP/USD Intraday: under pressure

Our preference is short positions below 1.4725 with targets at 1.463 & 1.459 in extension. Alternative scenario is above 1.4725 look for further upside with 1.4755 & 1.479 as targets.

USD/CHF Intraday: the bias remains bullish

Our preference long positions above 1.003 with targets at 1.0115 & 1.014 in extension. Alternative scenario is below 1.003 look for further downside with 1 & 0.997 as targets.

USD/JPY Intraday: under pressure

Our preference is short positions below 119.7 with targets at 118.7 & 118.4 in extension. Alternative scenario is above 119.7 look for further upside with 119.95 & 120.45 as targets.

USD/CAD Intraday: bullish bias above 1.3875

Our preference long positions above 1.3875 with targets at 1.3985 & 1.4035 in extension. Alternative scenario is below 1.3875 look for further downside with 1.3815 & 1.3775 as targets.

AUD/USD Intraday: under pressure

Our preference short positions below 0.7215 with targets at 0.713 & 0.71 in extension. Alternative scenario is above 0.7215 look for further upside with 0.724 & 0.727 as targets.

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