TC FX Analysis

Date:2019/1/17 GBP/USD Intraday: the upside prevails.

EUR/USD Intraday: under pressure.
Pivot: 1.1420

Our preference: short positions below 1.1420 with targets at 1.1375 & 1.1345 in extension.

Alternative scenario: above 1.1420 look for further upside with 1.1455 & 1.1490 as targets.

Comment: as long as 1.1420 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

 

GBP/USD Intraday: the upside prevails.
Pivot: 1.2840

Our preference: long positions above 1.2840 with targets at 1.2930 & 1.2975 in extension.

Alternative scenario: below 1.2840 look for further downside with 1.2800 & 1.2770 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

 

AUD/USD Intraday: the downside prevails.
Pivot: 0.7190

Our preference: short positions below 0.7190 with targets at 0.7145 & 0.7130 in extension.

Alternative scenario: above 0.7190 look for further upside with 0.7210 & 0.7225 as targets.

Comment: as long as 0.7190 is resistance, likely decline to 0.7145.

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: the upside prevails.
Pivot: 108.75

Our preference: long positions above 108.75 with targets at 109.20 & 109.45 in extension.

Alternative scenario: below 108.75 look for further downside with 108.55 & 108.30 as targets.

Comment: the break above 108.75 is a positive signal that has opened a path to 109.20.

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 1290.25.
Pivot: 1290.25

Our preference: long positions above 1290.25 with targets at 1297.00 & 1299.50 in extension.

Alternative scenario: below 1290.25 look for further downside with 1287.75 & 1286.00 as targets.

Comment: the RSI is mixed with a bullish 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

 

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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