TC FX Analysis

Date:2018/10/17 USD/JPY Intraday: the upside prevails.

EUR/USD Intraday: under pressure.

Pivot: 1.1595

Our preference: short positions below 1.1595 with targets at 1.1565 & 1.1540 in extension.

Alternative scenario: above 1.1595 look for further upside with 1.1610 & 1.1625 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

GBP/USD Intraday: limited upside.

Pivot: 1.3170

Our preference: long positions above 1.3170 with targets at 1.3205 & 1.3230 in extension.

Alternative scenario: below 1.3170 look for further downside with 1.3140 & 1.3115 as targets.

Comment: a support base at 1.3170 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 bias remains bullish.

Pivot:0.7125

Our preference: long positions above 0.7125 with targets at 0.7150 & 0.7165 in extension.

Alternative scenario: below 0.7125 look for further downside with 0.7115 & 0.7100 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

USD/JPY Intraday: the upside prevails.

Pivot:112.05

Our preference: long positions above 112.05 with targets at 112.50 & 112.75 in extension.

Alternative scenario: below 112.05 look for further downside with 111.90 & 111.70 as targets.

Comment: the RSI is bullish and calls for further upside.

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: watch 1219.00.

Pivot: 1229.50

Our preference: short positions below 1229.50 with targets at 1223.00 & 1219.00 in extension.

Alternative scenario: above 1229.50 look for further upside with 1233.50 & 1236.00 as targets.

Comment: a break below 1223.00 would trigger a drop towards 1219.00.

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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