TC FX Analysis

Date:2019/5/16 EUR/USD Intraday: bullish bias above 1.1195.

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.

  • 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 1.2780.
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.

  • 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: 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.

  • 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: 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.

  • 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: 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.

  • 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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