TC FX Analysis

Date:2018/12/31 GBP/USD Intraday: the bias remains bullish.

EUR/USD Intraday: bullish bias above 1.1425.
Pivot: 1.1425

Our preference: long positions above 1.1425 with targets at 1.1455 & 1.1475 in extension.

Alternative scenario: below 1.1425 look for further downside with 1.1405 & 1.1385 as targets.

Comment: a support base at 1.1425 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: 1.2670

Our preference: long positions above 1.2670 with targets at 1.2705 & 1.2720 in extension.

Alternative scenario: below 1.2670 look for further downside with 1.2650 & 1.2630 as targets.

Comment: even though a continuation of the consolidation 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

 

AUD/USD Intraday: key resistance at 0.7055.
Pivot: 0.7055

Our preference: short positions below 0.7055 with targets at 0.7030 & 0.7015 in extension.

Alternative scenario: above 0.7055 look for further upside with 0.7070 & 0.7080 as targets.

Comment: a break below 0.7030 would trigger a drop towards 0.7015.

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: 110.55

Our preference: short positions below 110.55 with targets at 110.10 & 109.95 in extension.

Alternative scenario: above 110.55 look for further upside with 110.80 & 111.10 as targets.

Comment: as long as the resistance at 110.55 is not surpassed, the risk of the break below 110.10 remains high.

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: bullish bias above 1275.00.
Pivot: 1275.00

Our preference: long positions above 1275.00 with targets at 1282.00 & 1285.50 in extension.

Alternative scenario: below 1275.00 look for further downside with 1270.00 & 1266.50 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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