TC FX Analysis

Date:2019/5/31 Gold spot Intraday: the upside prevails.

EUR/USD Intraday: under pressure.
Pivot: 1.1145

Our preference: short positions below 1.1145 with targets at 1.1115 & 1.1105 in extension.

Alternative scenario: above 1.1145 look for further upside with 1.1160 & 1.1170 as targets.

Comment: the RSI lacks upward 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 1.2580.
Pivot: 1.2620

Our preference: short positions below 1.2620 with targets at 1.2600 & 1.2580 in extension.

Alternative scenario: above 1.2620 look for further upside with 1.2640 & 1.2660 as targets.

Comment: a break below 1.2600 would trigger a drop towards 1.2580.

  • 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: under pressure.
Pivot: 0.6920

Our preference: short positions below 0.6920 with targets at 0.6895 & 0.6880 in extension.

Alternative scenario: above 0.6920 look for further upside with 0.6935 & 0.6950 as targets.

Comment: the RSI calls for a new downleg.

  • 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 109.00.
Pivot: 109.65

Our preference: short positions below 109.65 with targets at 109.20 & 109.00 in extension.

Alternative scenario: above 109.65 look for further upside with 109.80 & 109.95 as targets.

Comment: the immediate trend remains down and the momentum is strong.

  • 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: the upside prevails.
Pivot: 1285.00

Our preference: long positions above 1285.00 with targets at 1293.75 & 1298.50 in extension.

Alternative scenario: below 1285.00 look for further downside with 1282.00 & 1280.00 as targets.

Comment: the break above the resistance at 1285.00 triggered an upward acceleration to 1293.75.

  • 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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