TC FX Analysis

Date:2018/12/13 AUD/USD Intraday: the upside prevails.

EUR/USD Intraday: the upside prevails.
Pivot: 1.1350

Our preference: long positions above 1.1350 with targets at 1.1400 & 1.1425 in extension.

Alternative scenario: below 1.1350 look for further downside with 1.1325 & 1.1305 as targets.

Comment: technically the RSI is above 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

 

GBP/USD Intraday: the bias remains bullish.
Pivot: 1.2585

Our preference: long positions above 1.2585 with targets at 1.2675 & 1.2720 in extension.

Alternative scenario: below 1.2585 look for further downside with 1.2550 & 1.2520 as targets.

Comment: a support base at 1.2585 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

 

AUD/USD Intraday: the upside prevails.
Pivot: 0.7195

Our preference: long positions above 0.7195 with targets at 0.7240 & 0.7255 in extension.

Alternative scenario: below 0.7195 look for further downside with 0.7175 & 0.7160 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: watch 112.85.
Pivot: 113.50

Our preference: short positions below 113.50 with targets at 113.00 & 112.85 in extension.

Alternative scenario: above 113.50 look for further upside with 113.70 & 113.85 as targets.

Comment: as long as 113.50 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

 

Gold spot Intraday: rebound.
Pivot: 1241.75

Our preference: long positions above 1241.75 with targets at 1249.00 & 1251.00 in extension.

Alternative scenario: below 1241.75 look for further downside with 1239.00 & 1236.00 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

 

 

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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