TC FX Analysis

Date:2019/1/29 GBP/USD Intraday: the downside prevails.

EUR/USD Intraday: the upside prevails.
Pivot: 1.1405

Our preference: long positions above 1.1405 with targets at 1.1455 & 1.1485 in extension.

Alternative scenario: below 1.1405 look for further downside with 1.1390 & 1.1370 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 downside prevails.
Pivot: 1.3185

Our preference: short positions below 1.3185 with targets at 1.3135 & 1.3090 in extension.

Alternative scenario: above 1.3185 look for further upside with 1.3220 & 1.3260 as targets.

Comment: a break below 1.3135 would trigger a drop towards 1.3090.

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 0.7180.
Pivot: 0.7180

Our preference: short positions below 0.7180 with targets at 0.7145 & 0.7120 in extension.

Alternative scenario: above 0.7180 look for further upside with 0.7205 & 0.7220 as targets.

Comment: the break below 0.7180 is a negative signal that has opened a path 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: under pressure.
Pivot: 109.50

Our preference: short positions below 109.50 with targets at 109.15 & 108.90 in extension.

Alternative scenario: above 109.50 look for further upside with 109.70 & 109.95 as targets.

Comment: as long as 109.50 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: further advance.
Pivot: 1297.50

Our preference: long positions above 1297.50 with targets at 1309.50 & 1314.00 in extension.

Alternative scenario: below 1297.50 look for further downside with 1293.50 & 1290.50 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

 

 

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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