TC FX Analysis

Date:2018/8/29 EUR/USD Intraday: limited upside.

EUR/USD Intraday: limited upside.
Pivot: 1.1680

Our preference: long positions above 1.1680 with targets at 1.1730 & 1.1765 in extension.

Alternative scenario: below 1.1680 look for further downside with 1.1655 & 1.1630 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

GBP/USD Intraday: consolidation in place.
Pivot: 1.2895

Our preference: short positions below 1.2895 with targets at 1.2850 & 1.2830 in extension.

Alternative scenario: above 1.2895 look for further upside with 1.2910 & 1.2935 as targets.

Comment: as long as 1.2895 is resistance, expect a return to 1.2850.

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 bias remains bullish.
Pivot: 0.7320

Our preference: long positions above 0.7320 with targets at 0.7365 & 0.7385 in extension.

Alternative scenario: below 0.7320 look for further downside with 0.7305 & 0.7285 as targets.

Comment: the RSI calls for a new upleg.

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: limited upside.
Pivot: 110.95

Our preference: long positions above 110.95 with targets at 111.35 & 111.50 in extension.

Alternative scenario: below 110.95 look for further downside with 110.70 & 110.50 as targets.

Comment: a support base at 110.95 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: under pressure.
Pivot: 1208.00

Our preference: short positions below 1208.00 with targets at 1196.50 & 1190.50 in extension.

Alternative scenario: above 1208.00 look for further upside with 1214.00 & 1217.00 as targets.

Comment: the RSI is bearish and calls 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

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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