TC FX Analysis

Date:2018/7/17 EUR/USD Intraday: bullish bias above 1.1690.

EUR/USD Intraday: bullish bias above 1.1690.

Pivot: 1.1690

Our preference: long positions above 1.1690 with targets at 1.1725 & 1.1740 in extension.

Alternative scenario: below 1.1690 look for further downside with 1.1675 & 1.1655 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

GBP/USD Intraday: bullish bias above 1.3215.

Pivot: 1.3215

Our preference: long positions above 1.3215 with targets at 1.3250 & 1.3290 in extension.

Alternative scenario: below 1.3215 look for further downside with 1.3190 & 1.3165 as targets.

Comment: a support base at 1.3215 has formed and has allowed for a temporary stabilisation.

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: 0.7425

Our preference: short positions below 0.7425 with targets at 0.7400 & 0.7385 in extension.

Alternative scenario: above 0.7425 look for further upside with 0.7445 & 0.7460 as targets.

Comment: the RSI is capped by a declining trend line.

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: rebound expected.

Pivot: 112.20

Our preference: long positions above 112.20 with targets at 112.55 & 112.80 in extension.

Alternative scenario: below 112.20 look for further downside with 111.90 & 111.60 as targets.

Comment: the RSI broke above a declining trend line.

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: choppy.

Pivot: 1245.00

Our preference: short positions below 1245.00 with targets at 1238.00 & 1236.00 in extension.

Alternative scenario: above 1245.00 look for further upside with 1248.50 & 1252.50 as targets.

Comment: as long as 1245.00 is resistance, look for choppy price action with a bearish bias.

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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