TC FX Analysis

Date:2018/12/18 Gold spot Intraday: the bias remains bullish.

EUR/USD Intraday: further upside.
Pivot: 1.1330

Our preference: long positions above 1.1330 with targets at 1.1360 & 1.1390 in extension.

Alternative scenario: below 1.1330 look for further downside with 1.1310 & 1.1285 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: bullish bias above 1.2590.
Pivot: 1.2590

Our preference: long positions above 1.2590 with targets at 1.2645 & 1.2685 in extension.

Alternative scenario: below 1.2590 look for further downside with 1.2560 & 1.2530 as targets.

Comment: a support base at 1.2590 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: target 0.7195.
Pivot: 0.7165

Our preference: long positions above 0.7165 with targets at 0.7185 & 0.7195 in extension.

Alternative scenario: below 0.7165 look for further downside with 0.7150 & 0.7135 as targets.

Comment: the RSI is mixed to bullish.

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: under pressure.
Pivot: 113.05

Our preference: short positions below 113.05 with targets at 112.55 & 112.35 in extension.

Alternative scenario: above 113.05 look for further upside with 113.25 & 113.50 as targets.

Comment: as long as 113.05 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: the bias remains bullish.
Pivot: 1242.00

Our preference: long positions above 1242.00 with targets at 1248.00 & 1251.00 in extension.

Alternative scenario: below 1242.00 look for further downside with 1239.00 & 1236.00 as targets.

Comment: the RSI is bullish and calls for further advance.

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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