TC FX Analysis

Date:2018/6/08 EUR/USD Intraday: turning down.

EUR/USD Intraday: turning down.
Pivot: 1.1815

Our preference: short positions below 1.1815 with targets at 1.1780 & 1.1760 in extension.

Alternative scenario: above 1.1815 look for further upside with 1.1840 & 1.1875 as targets.

Comment: the RSI calls for a new downleg.

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: 1.3440

Our preference: short positions below 1.3440 with targets at 1.3395 & 1.3370 in extension.

Alternative scenario: above 1.3440 look for further upside with 1.3470 & 1.3495 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: 0.7610 expected.
Pivot: 0.7645

Our preference: short positions below 0.7645 with targets at 0.7610 & 0.7590 in extension.

Alternative scenario: above 0.7645 look for further upside with 0.7670 & 0.7700 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

USD/JPY Intraday: under pressure.
Pivot: 109.85

Our preference: short positions below 109.85 with targets at 109.45 & 109.20 in extension.

Alternative scenario: above 109.85 look for further upside with 110.05 & 110.25 as targets.

Comment: the break below 109.85 is a negative signal that has opened a path to 109.45.

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: 1294.50

Our preference: long positions above 1294.50 with targets at 1300.50 & 1303.25 in extension.

Alternative scenario: below 1294.50 look for further downside with 1290.00 & 1287.50 as targets.

Comment: a support base at 1294.50 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

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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