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.
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.
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.
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.
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.
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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