TC FX Analysis

Date:2019/7/08 AUD/USD Intraday: caution.

EUR/USD Intraday: key resistance at 1.1240.

Pivot: 1.1240

Our preference: short positions below 1.1240 with targets at 1.1205 & 1.1180 in extension.

Alternative scenario: above 1.1240 look for further upside with 1.1255 & 1.1270 as targets.

Comment: technically the RSI is below its neutrality area at 50.

  • 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: key resistance at 1.2540.

Pivot: 1.2540

Our preference: short positions below 1.2540 with targets at 1.2505 & 1.2480 in extension.

Alternative scenario: above 1.2540 look for further upside with 1.2560 & 1.2590 as targets.

Comment: as long as 1.2540 is resistance, expect a return to 1.2505.

  • 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: caution.

Pivot: 0.6985

Our preference: short positions below 0.6985 with targets at 0.6970 & 0.6955 in extension.

Alternative scenario: above 0.6985 look for further upside with 0.7000 & 0.7010 as targets.

Comment: the index currently faces a challenging resistance area at 0.6985.

  • 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: the bias remains bullish.

Pivot: 108.25

Our preference: long positions above 108.25 with targets at 108.65 & 108.80 in extension.

Alternative scenario: below 108.25 look for further downside with 108.00 & 107.85 as targets.

Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

  • 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: bounce.

Pivot: 1389.00

Our preference: long positions above 1389.00 with targets at 1402.00 & 1411.00 in extension.

Alternative scenario: below 1389.00 look for further downside with 1384.00 & 1377.00 as targets.

Comment: a support base at 1389.00 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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