TC FX Analysis

Date:2019/2/21 GBP/USD Intraday: under pressure.

EUR/USD Intraday: key resistance at 1.1370.
Pivot: 1.1370

Our preference: short positions below 1.1370 with targets at 1.1325 & 1.1295 in extension.

Alternative scenario: above 1.1370 look for further upside with 1.1390 & 1.1410 as targets.

Comment: as long as the resistance at 1.1370 is not surpassed, the risk of the break below 1.1325 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

 

GBP/USD Intraday: under pressure.
Pivot: 1.3100

Our preference: short positions below 1.3100 with targets at 1.3010 & 1.2980 in extension.

Alternative scenario: above 1.3100 look for further upside with 1.3135 & 1.3160 as targets.

Comment: the RSI lacks upward 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

 

AUD/USD Intraday: the bias remains bullish.
Pivot: 0.7145

Our preference: long positions above 0.7145 with targets at 0.7190 & 0.7210 in extension.

Alternative scenario: below 0.7145 look for further downside with 0.7125 & 0.7100 as targets.

Comment: the RSI has just landed on its neutrality area at 50% and is turning up.


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: 110.60

Our preference: long positions above 110.60 with targets at 110.95 & 111.15 in extension.

Alternative scenario: below 110.60 look for further downside with 110.45 & 110.25 as targets.

Comment: a support base at 110.60 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: consolidation in place.
Pivot: 1346.50

Our preference: short positions below 1346.50 with targets at 1336.50 & 1330.00 in extension.

Alternative scenario: above 1346.50 look for further upside with 1350.00 & 1354.00 as targets.

Comment: a break below 1336.50 would trigger a drop towards 1330.00.


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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