TC FX Analysis

Date:2018/12/07 GBP/USD Intraday: the bias remains bullish.

EUR/USD Intraday: the bias remains bullish.
Pivot: 1.1355

Our preference: long positions above 1.1355 with targets at 1.1395 & 1.1415 in extension.

Alternative scenario: below 1.1355 look for further downside with 1.1335 & 1.1320 as targets.

Comment: a support base at 1.1355 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: the bias remains bullish.
Pivot: 1.2755

Our preference: long positions above 1.2755 with targets at 1.2810 & 1.2840 in extension.

Alternative scenario: below 1.2755 look for further downside with 1.2730 & 1.2700 as targets.

Comment: the break above 1.2755 is a positive signal that has opened a path to 1.2810.

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: key resistance at 0.7240.
Pivot: 0.7240

Our preference: short positions below 0.7240 with targets at 0.7215 & 0.7190 in extension.

Alternative scenario: above 0.7240 look for further upside with 0.7275 & 0.7300 as targets.

Comment: the upward potential is likely to be limited by the resistance at 0.7240.

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: key resistance at 112.85.
Pivot: 112.85

Our preference: short positions below 112.85 with targets at 112.40 & 112.20 in extension.

Alternative scenario: above 112.85 look for further upside with 113.05 & 113.25 as targets.

Comment: the upward potential is likely to be limited by the resistance at 112.85.

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: 1243.00

Our preference: short positions below 1243.00 with targets at 1233.00 & 1229.50 in extension.

Alternative scenario: above 1243.00 look for further upside with 1248.00 & 1253.00 as targets.

Comment: as long as 1243.00 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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