TC FX Analysis

Date:2019/5/07 GBP/USD Intraday: watch 1.3045.

EUR/USD Intraday: further advance.
Pivot: 1.1180

Our preference: long positions above 1.1180 with targets at 1.1215 & 1.1240 in extension.

Alternative scenario: below 1.1180 look for further downside with 1.1160 & 1.1145 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

GBP/USD Intraday: watch 1.3045.
Pivot: 1.3125

Our preference: short positions below 1.3125 with targets at 1.3080 & 1.3045 in extension.

Alternative scenario: above 1.3125 look for further upside with 1.3150 & 1.3175 as targets.

Comment: a break below 1.3080 would trigger a drop towards 1.3045.

  • Green Lines Represent Resistances
  • Red Lines Represent Support Levels
  • Light Blue is a Pivot Point
  • Black represents the price when the report was

AUD/USD Intraday: bullish bias above 0.6980.
Pivot: 0.6980

Our preference: long positions above 0.6980 with targets at 0.7005 & 0.7025 in extension.

Alternative scenario: below 0.6980 look for further downside with 0.6960 & 0.6945 as targets.

Comment: a support base at 0.6980 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

USD/JPY Intraday: choppy.
Pivot: 110.95

Our preference: short positions below 110.95 with targets at 110.55 & 110.30 in extension.

Alternative scenario: above 110.95 look for further upside with 111.10 & 111.30 as targets.

Comment: as long as the resistance at 110.95 is not surpassed, the risk of the break below 110.55 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

Gold spot Intraday: turning up.
Pivot: 1276.50

Our preference: long positions above 1276.50 with targets at 1287.00 & 1291.00 in extension.

Alternative scenario: below 1276.50 look for further downside with 1272.50 & 1269.00 as targets.

Comment: the RSI is bullish and calls for further advance.

  • Green Lines Represent Resistances
  • Red Lines Represent Support Levels
  • Light Blue is a Pivot Point
  • Black represents the price when the report was

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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