DAILY STRATEGY JANUARY 13/01/2014

EUR/USD:
Our preference: Bullish setups on a pull-back move to within 1.3620 - 1.3660 with targets @ 1.3686 & 1.3714 in extension.

Alternative scenario: Below 1.3620, watch for bearish setups with 1.3596 as target and 1.3569 in extension.

Comment: EUR/USD is in an upward trajectory. 20 MA has crossed above 50 MA on hourly chart. Note that hourly stochastic and RSI are overbought.


AUD/USD:
Our preference: Bullish setups on a pull-back move to within 0.8945 - 0.8985 with targets @ 0.8999 & 0.9040 in extension.

Alternative scenario: Below 0.8945, watch for bearish setups with 0.8905 as target and 0.8864 in extension.

Comment: AUD/USD currently is in an upward trajectory. 20 MA has crossed above 50 MA on hourly chart. Note that hourly stochastic and RSI are overbought.


GBP/USD:
Our preference: Bullish setups on a pull-back move to within 1.6440 - 1.6480 with targets @ 1.6516 & 1.6548 in extension.

Alternative scenario: Below 1.6440, watch for bearish setups with 1.6410 as target and 1.6377 in extension.

Comment: GBP/USD remains in an upward trajectory. Note that hourly stochastic and RSI are overbought.


EUR/JPY:
Our preference: Bearish setups on a pull-back move to within 142.00 - 142.40 with targets @ 141.65 & 141.21 in extension.

Alternative scenario: Above 142.40, watch for bullish setups with 142.62 as target and 143.05 in extension.

Comment: EUR/JPY currently is under heavy pressure. 20 MA has crossed below 50 MA on hourly chart. Note that hourly stochastic has crossed up and CCI is oversold.


GOLD:
Our preference: Bullish setups on a pull-back move to within 1236.50 - 1243.80 with targets @ 1246.46 & 1255.13 in extension.

Alternative scenario: Below 1236.50, watch for bearish setups with 1232.43 as target and 1227.07 in extension.

Comment: Gold price currently is in an upward trajectory. 20 MA has crossed above 50 MA on hourly chart. Note that hourly stochastic is falling and RSI is overbought.