TC FX Analysis

Date:2018/10/16 Gold spot Intraday: bullish bias above 1222.50.

EUR/USD Intraday: bullish bias above 1.1565.

Pivot: 1.1565

Our preference: long positions above 1.1565 with targets at 1.1610 & 1.1630 in extension.

Alternative scenario: below 1.1565 look for further downside with 1.1540 & 1.1515 as targets.

Comment: technically the RSI is above 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

GBP/USD Intraday: the bias remains bullish.

Pivot: 1.3130

Our preference: long positions above 1.3130 with targets at 1.3185 & 1.3225 in extension.

Alternative scenario: below 1.3130 look for further downside with 1.3095 & 1.3065 as targets.

Comment: a support base at 1.3130 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: the upside prevails.

Pivot: 0.7120

Our preference: long positions above 0.7120 with targets at 0.7150 & 0.7175 in extension.

Alternative scenario: below 0.7120 look for further downside with 0.7100 & 0.7080 as targets.

Comment: the break above 0.7120 is a positive signal that has opened a path to 0.7150.

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: key resistance at 111.95.

Pivot: 111.95

Our preference: short positions below 111.95 with targets at 111.60 & 111.30 in extension.

Alternative scenario: above 111.95 look for further upside with 112.25 & 112.50 as targets.

Comment: the upward potential is likely to be limited by the resistance at 111.95.

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: bullish bias above 1222.50.

Pivot: 1222.50

Our preference: long positions above 1222.50 with targets at 1230.50 & 1233.50 in extension.

Alternative scenario: below 1222.50 look for further downside with 1219.00 & 1215.50 as targets.

Comment: the RSI is above 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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