TC FX Analysis

Date:2018/8/01 AUD/USD Intraday: turning down.

EUR/USD Intraday: the downside prevails.

Pivot: 1.1715

Our preference: short positions below 1.1715 with targets at 1.1665 & 1.1650 in extension.

Alternative scenario: above 1.1715 look for further upside with 1.1730 & 1.1745 as targets.

Comment: the RSI is bearish and calls for further decline.

Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point  | Black represents the price when the report was produced

GBP/USD Intraday: under pressure.

Pivot: 1.3135

Our preference: short positions below 1.3135 with targets at 1.3095 & 1.3080 in extension.

Alternative scenario: above 1.3135 look for further upside with 1.3150 & 1.3170 as targets.

Comment: as long as the resistance at 1.3135 is not surpassed, the risk of the break below 1.3095 remains high.

Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point  | Black represents the price when the report was produced

AUD/USD Intraday: turning down.

Pivot: 0.7430

Our preference: short positions below 0.7430 with targets at 0.7400 & 0.7385 in extension.

Alternative scenario: above 0.7430 look for further upside with 0.7440 & 0.7450 as targets.

Comment: the RSI shows downside momentum.

Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point  | Black represents the price when the report was produced

USD/JPY Intraday: the bias remains bullish.

Pivot: 111.40

Our preference: long positions above 111.40 with targets at 111.95 & 112.20 in extension.

Alternative scenario: below 111.40 look for further downside with 111.15 & 110.90 as targets.

Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point  | Black represents the price when the report was produced

Gold spot Intraday: the bias remains bullish.

Pivot: 1220.50

Our preference: long positions above 1220.50 with targets at 1228.50 & 1231.00 in extension.

Alternative scenario: below 1220.50 look for further downside with 1217.00 & 1213.50 as targets.

Comment: the RSI has just landed on its neutrality area at 50% and is turning up.

Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point  | Black represents the price when the report was produced

Any information contained in this report should not be deemed to constitute investment advice and should not be relied upon as the basis for a decision to place a trade, or as the basis for any financial or investment decision.

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