TC FX Analysis

Date:2018/8/31 EUR/USD Intraday: the downside prevails.

EUR/USD Intraday: the downside prevails.
Pivot: 1.1690

Our preference: short positions below 1.1690 with targets at 1.1640 & 1.1615 in extension.

Alternative scenario: above 1.1690 look for further upside with 1.1710 & 1.1730 as targets.

Comment: the RSI is mixed to bearish.

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 1.2985.
Pivot: 1.2985

Our preference: long positions above 1.2985 with targets at 1.3040 & 1.3065 in extension.

Alternative scenario: below 1.2985 look for further downside with 1.2960 & 1.2930 as targets.

Comment: the RSI lacks downward 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: the downside prevails.
Pivot: 0.7285

Our preference: short positions below 0.7285 with targets at 0.7235 & 0.7220 in extension.

Alternative scenario: above 0.7285 look for further upside with 0.7305 & 0.7330 as targets.

Comment: the RSI calls for a drop.

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 downside prevails.
Pivot: 111.30

Our preference: short positions below 111.30 with targets at 110.70 & 110.50 in extension.

Alternative scenario: above 111.30 look for further upside with 111.45 & 111.60 as targets.

Comment: the RSI advocates 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

Gold spot Intraday: under pressure.
Pivot: 1205.50

Our preference: short positions below 1205.50 with targets at 1196.00 & 1192.50 in extension.

Alternative scenario: above 1205.50 look for further upside with 1208.00 & 1212.50 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

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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