INTRADAY CONFLUENCE ZONES: DATE- 09/01/2014

EUR/USD:
Our preference: Bearish setups on a pull-back move to within 1.3580 - 1.3620 with targets @ 1.3553 & 1.3528 in extension.

Alternative scenario: Above 1.3620, watch for bullish setups with 1.3631 as target and 1.3656 in extension.

Comment: EUR/USD currently is under pressure. 20 MA has crossed below 50 MA on hourly chart. Note that hourly stochastic is overbought. Watch the level of 1.3604 (50% Fibonacci).


AUD/USD:
Our preference: Bearish setups on a pull-back move to within 0.8895 - 0.8935 with targets @ 0.8864 & 0.8843 in extension.

Alternative scenario: Above 0.8935, watch for bullish setups with 0.8951 as target and 0.8970 in extension.

Comment: AUD/USD currently is under pressure. Note that hourly stochastic and RSI are oversold. Watch the level of 0.8908 (50% Fibonacci).


GBP/USD:
Our preference: Bullish setups on a pull-back move to within 1.6400 - 1.6440 with targets @ 1.6471 & 1.6494 in extension.

Alternative scenario: Below 1.6440, watch for bearish setups with 1.6373 as target and 1.6350 in extension.

Comment: GBP/USD is pushing higher. Note that hourly stochastic and RSI are overbought. Watch the level of 1.6422 (50% Fibonacci).


EUR/JPY:
Our preference: Bearish setups within 142.10 - 142.75 with targets @ 141.88 & 141.49 in extension.

Alternative scenario: Above 142.75, watch for bullish setups with 143.16 as target and 143.56 in extension.

Comment: EUR/JPY is in consolidation mode. 20 MA has crossed below 50 MA on hourly chart. Note that hourly stochastic is overbought.


GOLD:
Our preference: Bearish setups on a pull-back move to within 1229.20 - 1237.10 with targets @ 1225.47 & 1218.40 in extension.

Alternative scenario: Above 1237.10, watch for bullish setups with 1241.27 as target and 1248.34 in extension.

Comment: Gold price currently is under pressure. The price is moving below 20 MA and 50 MA on hourly chart. Note that hourly stochastic is overbought. Watch the level of 1233.37 (50% Fibonacci).