TC FX Analysis

Date:2018/6/12 GBP/USD Intraday: under pressure.

EUR/USD Intraday: turning down.

Pivot: 1.1815

Our preference: short positions below 1.1815 with targets at 1.1760 & 1.1735 in extension.

Alternative scenario: above 1.1815 look for further upside with 1.1840 & 1.1860 as targets.

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

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: 1.3405

Our preference: short positions below 1.3405 with targets at 1.3345 & 1.3305 in extension.

Alternative scenario: above 1.3405 look for further upside with 1.3440 & 1.3470 as targets.

Comment: the RSI lacks upward 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

AUD/USD Intraday: bullish bias above 0.7595.

Pivot: 0.7595

Our preference: long positions above 0.7595 with targets at 0.7620 & 0.7645 in extension.

Alternative scenario: below 0.7595 look for further downside with 0.7580 & 0.7560 as targets.

Comment: a support base at 0.7595 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

USD/JPY Intraday: further advance.

Pivot: 109.90

Our preference: long positions above 109.90 with targets at 110.60 & 110.85 in extension.

Alternative scenario: below 109.90 look for further downside with 109.60 & 109.30 as targets.

Comment: the immediate trend remains up and the momentum is strong.

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: supported by a rising trend line.

Pivot: 1294.00

Our preference: long positions above 1294.00 with targets at 1300.50 & 1303.25 in extension.

Alternative scenario: below 1294.00 look for further downside with 1290.00 & 1287.50 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

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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