TC FX Analysis

Date:2019/1/04 AUD/USD Intraday: supported by a rising trend line.

EUR/USD Intraday: the upside prevails.
Pivot: 1.1360

Our preference: long positions above 1.1360 with targets at 1.1420 & 1.1470 in extension.

Alternative scenario: below 1.1360 look for further downside with 1.1335 & 1.1310 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: 1.2580

Our preference: long positions above 1.2580 with targets at 1.2675 & 1.2720 in extension.

Alternative scenario: below 1.2580 look for further downside with 1.2540 & 1.2505 as targets.

Comment: the break above 1.2580 is a positive signal that has opened a path to 1.2675.

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: supported by a rising trend line.
Pivot: 0.6970

Our preference: long positions above 0.6970 with targets at 0.7045 & 0.7070 in extension.

Alternative scenario: below 0.6970 look for further downside with 0.6950 & 0.6925 as targets.

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

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 108.85.
Pivot: 107.35

Our preference: long positions above 107.35 with targets at 108.30 & 108.85 in extension.

Alternative scenario: below 107.35 look for further downside with 106.80 & 105.80 as targets.

Comment: a support base at 107.35 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

 

Gold spot Intraday: the upside prevails.
Pivot: 1289.00

Our preference: long positions above 1289.00 with targets at 1300.00 & 1306.00 in extension.

Alternative scenario: below 1289.00 look for further downside with 1284.00 & 1278.00 as targets.

Comment: the RSI advocates 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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