TC FX Analysis

Date:2018/6/18 GBP/USD Intraday: the bias remains bullish.

EUR/USD Intraday: the bias remains bullish.

Pivot: 1.1555

Our preference: long positions above 1.1555 with targets at 1.1625 & 1.1675 in extension.

Alternative scenario: below 1.1555 look for further downside with 1.1500 & 1.1460 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: the bias remains bullish.

Pivot: 1.3250

Our preference: long positions above 1.3250 with targets at 1.3300 & 1.3350 in extension.

Alternative scenario: below 1.3250 look for further downside with 1.3210 & 1.3170 as targets.

Comment: a support base at 1.3250 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: watch 0.7430.

Pivot: 0.7480

Our preference: short positions below 0.7480 with targets at 0.7430 & 0.7400 in extension.

Alternative scenario: above 0.7480 look for further upside with 0.7525 & 0.7560 as targets.

Comment: a break below 0.7430 would trigger a drop towards 0.7400.

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: bullish bias above 110.35.

Pivot: 110.35

Our preference: long positions above 110.35 with targets at 110.90 & 111.10 in extension.

Alternative scenario: below 110.35 look for further downside with 110.10 & 109.90 as targets.

Comment: a support base at 110.35 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

Gold spot Intraday: key resistance at 1284.50.

Pivot: 1284.50

Our preference: short positions below 1284.50 with targets at 1275.00 & 1269.00 in extension.

Alternative scenario: above 1284.50 look for further upside with 1290.00 & 1293.50 as targets.

Comment: technically the RSI is below its neutrality area at 50.

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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