TC FX Analysis

Date:2018/11/08 AUD/USD Intraday: bullish bias above 0.7260.

EUR/USD Intraday: the downside prevails.
Pivot: 1.1455

Our preference: short positions below 1.1455 with targets at 1.1405 & 1.1390 in extension.

Alternative scenario: above 1.1455 look for further upside with 1.1475 & 1.1500 as targets.

Comment: the RSI is bearish and calls for further downside.

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: turning down.
Pivot: 1.3170

Our preference: short positions below 1.3170 with targets at 1.3105 & 1.3070 in extension.

Alternative scenario: above 1.3170 look for further upside with 1.3200 & 1.3235 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

 

AUD/USD Intraday: bullish bias above 0.7260.
Pivot: 0.7260

Our preference: long positions above 0.7260 with targets at 0.7300 & 0.7325 in extension.

Alternative scenario: below 0.7260 look for further downside with 0.7235 & 0.7210 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: target 114.00.
Pivot: 113.20

Our preference: long positions above 113.20 with targets at 113.80 & 114.00 in extension.

Alternative scenario: below 113.20 look for further downside with 112.95 & 112.75 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: consolidation.
Pivot: 1230.00

Our preference: short positions below 1230.00 with targets at 1223.00 & 1220.00 in extension.

Alternative scenario: above 1230.00 look for further upside with 1233.00 & 1236.50 as targets.

Comment: as long as 1230.00 is resistance, look for choppy price action with a bearish bias.

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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