TC FX Analysis

Date:2018/11/02 GBP/USD Intraday: target 1.3090.

EUR/USD Intraday: the bias remains bullish.

Pivot: 1.1385

Our preference: long positions above 1.1385 with targets at 1.1425 & 1.1435 in extension.

Alternative scenario: below 1.1385 look for further downside with 1.1365 & 1.1350 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

 

GBP/USD Intraday: target 1.3090.

Pivot: 1.2950

Our preference: long positions above 1.2950 with targets at 1.3050 & 1.3090 in extension.

Alternative scenario: below 1.2950 look for further downside with 1.2905 & 1.2855 as targets.

Comment: the break above 1.2950 is a positive signal that has opened a path to 1.3050.

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: 0.7180

Our preference: long positions above 0.7180 with targets at 0.7225 & 0.7250 in extension.

Alternative scenario: below 0.7180 look for further downside with 0.7160 & 0.7135 as targets.

Comment: the break above 0.7180 is a positive signal that has opened a path to 0.7225.

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: 112.85

Our preference: short positions below 112.85 with targets at 112.40 & 112.15 in extension.

Alternative scenario: above 112.85 look for further upside with 113.05 & 113.35 as targets.

Comment: the break below 112.85 is a negative signal that has opened a path to 112.40.

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: 1228.00

Our preference: long positions above 1228.00 with targets at 1239.00 & 1243.50 in extension.

Alternative scenario: below 1228.00 look for further downside with 1225.00 & 1222.00 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

 

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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