TC FX Analysis

Date:2019/3/05 GBP/USD Intraday: the downside prevails.

EUR/USD Intraday: under pressure.
Pivot: 1.1355

Our preference: short positions below 1.1355 with targets at 1.1325 & 1.1310 in extension.

Alternative scenario: above 1.1355 look for further upside with 1.1370 & 1.1390 as targets.

Comment: as long as the resistance at 1.1355 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: the downside prevails.
Pivot: 1.3225

Our preference: short positions below 1.3225 with targets at 1.3140 & 1.3105 in extension.

Alternative scenario: above 1.3225 look for further upside with 1.3255 & 1.3285 as targets.

Comment: the break below 1.3225 is a negative signal that has opened a path to 1.3140.


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 0.7100.
Pivot: 0.7100

Our preference: short positions below 0.7100 with targets at 0.7075 & 0.7065 in extension.

Alternative scenario: above 0.7100 look for further upside with 0.7120 & 0.7145 as targets.

Comment: the upward potential is likely to be limited by the resistance at 0.7100.


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: bullish bias above 111.60.
Pivot: 111.60

Our preference: long positions above 111.60 with targets at 112.00 & 112.25 in extension.

Alternative scenario: below 111.60 look for further downside with 111.30 & 111.05 as targets.

Comment: a support base at 111.60 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: under pressure.
Pivot: 1292.50

Our preference: short positions below 1292.50 with targets at 1282.50 & 1276.50 in extension.

Alternative scenario: above 1292.50 look for further upside with 1297.00 & 1304.00 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

 

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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