EUR/USD Intraday: bullish bias above 1.1195.
Pivot: 1.1195
Our preference: long positions above 1.1195 with targets at 1.1225 & 1.1245 in extension.
Alternative scenario: below 1.1195 look for further downside with 1.1180 & 1.1165 as targets.
Comment: the RSI lacks downward momentum.
GBP/USD Intraday: watch 1.2780.
Pivot: 1.2880
Our preference: short positions below 1.2880 with targets at 1.2825 & 1.2780 in extension.
Alternative scenario: above 1.2880 look for further upside with 1.2925 & 1.2960 as targets.
Comment: a break below 1.2825 would trigger a drop towards 1.2780.
AUD/USD Intraday: key resistance at 0.6935.
Pivot: 0.6935
Our preference: short positions below 0.6935 with targets at 0.6915 & 0.6900 in extension.
Alternative scenario: above 0.6935 look for further upside with 0.6950 & 0.6960 as targets.
Comment: the upward potential is likely to be limited by the resistance at 0.6935.
USD/JPY Intraday: turning down.
Pivot: 109.70
Our preference: short positions below 109.70 with targets at 109.40 & 109.15 in extension.
Alternative scenario: above 109.70 look for further upside with 109.90 & 110.05 as targets.
Comment: the index currently faces a challenging resistance area at 109.70.
Gold spot Intraday: intraday support around 1293.00.
Pivot: 1293.00
Our preference: long positions above 1293.00 with targets at 1300.00 & 1303.00 in extension.
Alternative scenario: below 1293.00 look for further downside with 1289.50 & 1287.00 as targets.
Comment: a support base at 1293.00 has formed and has allowed for a temporary stabilisation.
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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