TC FX Analysis

Date:2018/11/22 AUD/USD Intraday: bullish bias above 0.7245.

EUR/USD Intraday: bullish bias above 1.1375.
Pivot: 1.1375

Our preference: long positions above 1.1375 with targets at 1.1405 & 1.1425 in extension.

Alternative scenario: below 1.1375 look for further downside with 1.1355 & 1.1320 as targets.

Comment: a support base at 1.1375 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

 

GBP/USD Intraday: target 1.2720.
Pivot: 1.2815

Our preference: short positions below 1.2815 with targets at 1.2760 & 1.2720 in extension.

Alternative scenario: above 1.2815 look for further upside with 1.2850 & 1.2880 as targets.

Comment: a break below 1.2760 would trigger a drop towards 1.2720.

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 0.7245.
Pivot: 0.7245

Our preference: long positions above 0.7245 with targets at 0.7280 & 0.7300 in extension.

Alternative scenario: below 0.7245 look for further downside with 0.7225 & 0.7200 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

 

USD/JPY Intraday: the bias remains bullish.
Pivot: 112.85

Our preference: long positions above 112.85 with targets at 113.20 & 113.40 in extension.

Alternative scenario: below 112.85 look for further downside with 112.65 & 112.30 as targets.

Comment: the break above 112.85 is a positive signal that has opened a path to 113.20.

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 1222.00.
Pivot: 1222.00

Our preference: long positions above 1222.00 with targets at 1230.00 & 1233.50 in extension.

Alternative scenario: below 1222.00 look for further downside with 1219.50 & 1216.50 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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