EUR/USD Intraday: bullish bias above 1.1205.
Pivot: 1.1205
Our preference: long positions above 1.1205 with targets at 1.1245 & 1.1260 in extension.
Alternative scenario: below 1.1205 look for further downside with 1.1190 & 1.1170 as targets.
Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
GBP/USD Intraday: bullish bias above 1.2995.
Pivot: 1.2995
Our preference: long positions above 1.2995 with targets at 1.3035 & 1.3060 in extension.
Alternative scenario: below 1.2995 look for further downside with 1.2970 & 1.2945 as targets.
Comment: a support base at 1.2995 has formed and has allowed for a temporary stabilisation.
AUD/USD Intraday: the bias remains bullish.
Pivot: 0.6975
Our preference: long positions above 0.6975 with targets at 0.7000 & 0.7015 in extension.
Alternative scenario: below 0.6975 look for further downside with 0.6960 & 0.6945 as targets.
Comment: the RSI lacks downward momentum.
USD/JPY Intraday: key resistance at 109.90.
Pivot: 109.90
Our preference: short positions below 109.90 with targets at 109.50 & 109.35 in extension.
Alternative scenario: above 109.90 look for further upside with 110.10 & 110.25 as targets.
Comment: the upward potential is likely to be limited by the resistance at 109.90.
Gold spot Intraday: supported by a rising trend line.
Pivot: 1280.00
Our preference: long positions above 1280.00 with targets at 1288.50 & 1291.50 in extension.
Alternative scenario: below 1280.00 look for further downside with 1276.50 & 1272.50 as targets.
Comment: the RSI is mixed to bullish.
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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