TC FX Analysis

Date:2018/12/06 AUD/USD Intraday: the downside prevails.

EUR/USD Intraday: under pressure.
Pivot: 1.1360

Our preference: short positions below 1.1360 with targets at 1.1330 & 1.1310 in extension.

Alternative scenario: above 1.1360 look for further upside with 1.1380 & 1.1410 as targets.

Comment: the upward potential is likely to be limited by the resistance at 1.1360.

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: 1.2765

Our preference: short positions below 1.2765 with targets at 1.2705 & 1.2670 in extension.

Alternative scenario: above 1.2765 look for further upside with 1.2800 & 1.2840 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

 

AUD/USD Intraday: the downside prevails.
Pivot: 0.7280

Our preference: short positions below 0.7280 with targets at 0.7245 & 0.7230 in extension.

Alternative scenario: above 0.7280 look for further upside with 0.7300 & 0.7325 as targets.

Comment: the break below 0.7280 is a negative signal that has opened a path to 0.7245.

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: turning down.
Pivot: 113.25

Our preference: short positions below 113.25 with targets at 112.90 & 112.60 in extension.

Alternative scenario: above 113.25 look for further upside with 113.50 & 113.70 as targets.

Comment: a break below 112.90 would trigger a drop towards 112.60.

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 upside prevails.
Pivot: 1233.00

Our preference: long positions above 1233.00 with targets at 1242.00 & 1244.50 in extension.

Alternative scenario: below 1233.00 look for further downside with 1230.50 & 1227.50 as targets.

Comment: the RSI calls for a new upleg.

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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