TC FX Analysis

Date:2019/5/23 Gold spot Intraday: bullish bias above 1272.00.

EUR/USD Intraday: key resistance at 1.1165.
Pivot: 1.1165

Our preference: short positions below 1.1165 with targets at 1.1140 & 1.1130 in extension.

Alternative scenario: above 1.1165 look for further upside with 1.1180 & 1.1190 as targets.

Comment: as long as 1.1165 is resistance, look for choppy price action with a bearish bias.

  • 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: under pressure.
Pivot: 1.2690

Our preference: short positions below 1.2690 with targets at 1.2630 & 1.2600 in extension.

Alternative scenario: above 1.2690 look for further upside with 1.2720 & 1.2750 as targets.

Comment: as long as the resistance at 1.2690 is not surpassed, the risk of the break below 1.2630 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

AUD/USD Intraday: bullish bias above 0.6870.
Pivot: 0.6870

Our preference: long positions above 0.6870 with targets at 0.6895 & 0.6910 in extension.

Alternative scenario: below 0.6870 look for further downside with 0.6850 & 0.6830 as targets.

Comment: a support base at 0.6870 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: watch 110.05.
Pivot: 110.40

Our preference: short positions below 110.40 with targets at 110.20 & 110.05 in extension.

Alternative scenario: above 110.40 look for further upside with 110.65 & 110.80 as targets.

Comment: the RSI is bearish and calls for further downside.

  • 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: bullish bias above 1272.00.
Pivot: 1272.00

Our preference: long positions above 1272.00 with targets at 1277.50 & 1279.50 in extension.

Alternative scenario: below 1272.00 look for further downside with 1269.50 & 1267.50 as targets.

Comment: a support base at 1272.00 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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