TC FX Analysis

Date:2018/12/04 Gold spot Intraday: the bias remains bullish.

EUR/USD Intraday: turning up.
Pivot: 1.1335

Our preference: long positions above 1.1335 with targets at 1.1380 & 1.1400 in extension.

Alternative scenario: below 1.1335 look for further downside with 1.1320 & 1.1305 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

 

GBP/USD Intraday: under pressure.
Pivot: 1.2755

Our preference: short positions below 1.2755 with targets at 1.2700 & 1.2660 in extension.

Alternative scenario: above 1.2755 look for further upside with 1.2795 & 1.2825 as targets.

Comment: as long as the resistance at 1.2755 is not surpassed, the risk of the break below 1.2700 remains high.

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 0.7340.
Pivot: 0.7340

Our preference: long positions above 0.7340 with targets at 0.7395 & 0.7440 in extension.

Alternative scenario: below 0.7340 look for further downside with 0.7310 & 0.7280 as targets.

Comment: a support base at 0.7340 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

 

USD/JPY Intraday: bullish bias above 113.50.
Pivot: 113.50

Our preference: long positions above 113.50 with targets at 113.70 & 113.85 in extension.

Alternative scenario: below 113.50 look for further downside with 113.35 & 113.20 as targets.

Comment: a support base at 113.50 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: the bias remains bullish.
Pivot: 1228.00

Our preference: long positions above 1228.00 with targets at 1235.00 & 1237.50 in extension.

Alternative scenario: below 1228.00 look for further downside with 1223.00 & 1220.00 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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