TC FX Analysis

Date:2018/11/07

EUR/USD Intraday: further upside.
Pivot: 1.1410

Our preference: long positions above 1.1410 with targets at 1.1455 & 1.1475 in extension.

Alternative scenario: below 1.1410 look for further downside with 1.1390 & 1.1370 as targets.

Comment: the RSI advocates 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

 

GBP/USD Intraday: aim @ 1.3155.
Pivot: 1.3065

Our preference: long positions above 1.3065 with targets at 1.3130 & 1.3155 in extension.

Alternative scenario: below 1.3065 look for further downside with 1.3030 & 1.2970 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: supported by a rising trend line.
Pivot: 0.7210

Our preference: long positions above 0.7210 with targets at 0.7260 & 0.7285 in extension.

Alternative scenario: below 0.7210 look for further downside with 0.7190 & 0.7180 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

 

USD/JPY Intraday: the bias remains bullish.
Pivot: 113.30

Our preference: long positions above 113.30 with targets at 113.60 & 113.75 in extension.

Alternative scenario: below 113.30 look for further downside with 113.10 & 112.90 as targets.

Comment: a support base at 113.30 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: key resistance at 1230.25.
Pivot: 1230.25

Our preference: short positions below 1230.25 with targets at 1223.25 & 1220.00 in extension.

Alternative scenario: above 1230.25 look for further upside with 1233.00 & 1236.50 as targets.

Comment: technically the RSI is below 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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