TC FX Analysis

Date:2019/4/16 AUD/USD Intraday: limited upside.

EUR/USD Intraday: bullish bias above 1.1295.
Pivot: 1.1295

Our preference: long positions above 1.1295 with targets at 1.1320 & 1.1340 in extension.

Alternative scenario: below 1.1295 look for further downside with 1.1280 & 1.1260 as targets.

Comment: a support base at 1.1295 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

 

GBP/USD Intraday: the bias remains bullish.
Pivot: 1.3080

Our preference: long positions above 1.3080 with targets at 1.3120 & 1.3135 in extension.

Alternative scenario: below 1.3080 look for further downside with 1.3065 & 1.3050 as targets.

Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.


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: limited upside.
Pivot: 0.7160

Our preference: long positions above 0.7160 with targets at 0.7190 & 0.7205 in extension.

Alternative scenario: below 0.7160 look for further downside with 0.7145 & 0.7125 as targets.

Comment: a support base at 0.7160 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

 

USD/JPY Intraday: bullish bias above 111.85.
Pivot: 111.85

Our preference: long positions above 111.85 with targets at 112.10 & 112.25 in extension.

Alternative scenario: below 111.85 look for further downside with 111.65 & 111.50 as targets.

Comment: the RSI lacks downward 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

 

Gold spot Intraday: key resistance at 1290.00.
Pivot: 1290.00

Our preference: short positions below 1290.00 with targets at 1284.75 & 1282.50 in extension.

Alternative scenario: above 1290.00 look for further upside with 1291.75 & 1295.00 as targets.

Comment: as long as 1290.00 is resistance, expect a return to 1284.75.


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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