TC FX Analysis

Date:2018/12/20 AUD/USD Intraday: under pressure.

EUR/USD Intraday: key resistance at 1.1405.
Pivot: 1.1405

Our preference: short positions below 1.1405 with targets at 1.1365 & 1.1350 in extension.

Alternative scenario: above 1.1405 look for further upside with 1.1420 & 1.1440 as targets.

Comment: even though a continuation of the technical rebound 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

 

GBP/USD Intraday: watch 1.2590.
Pivot: 1.2645

Our preference: short positions below 1.2645 with targets at 1.2605 & 1.2590 in extension.

Alternative scenario: above 1.2645 look for further upside with 1.2675 & 1.2705 as targets.

Comment: a break below 1.2605 would trigger a drop towards 1.2590.

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: under pressure.
Pivot: 0.7150

Our preference: short positions below 0.7150 with targets at 0.7085 & 0.7065 in extension.

Alternative scenario: above 0.7150 look for further upside with 0.7170 & 0.7200 as targets.

Comment: even though a continuation of the technical rebound 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

 

USD/JPY Intraday: bullish bias above 112.30.
Pivot: 112.30

Our preference: long positions above 112.30 with targets at 112.65 & 112.85 in extension.

Alternative scenario: below 112.30 look for further downside with 112.10 & 112.00 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

 

Gold spot Intraday: watch 1236.00.
Pivot: 1247.00

Our preference: short positions below 1247.00 with targets at 1240.00 & 1236.00 in extension.

Alternative scenario: above 1247.00 look for further upside with 1251.00 & 1254.00 as targets.

Comment: the RSI shows downside 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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