EUR/USD Intraday: key resistance at 1.1105.
Pivot:
1.1105
Our preference:
short positions below 1.1105 with targets at 1.1065 & 1.1050 in extension.
Alternative scenario:
above 1.1105 look for further upside with 1.1120 & 1.1140 as targets.
Comment:
as long as the resistance at 1.1105 is not surpassed, the risk of the break below 1.1065 remains high.
GBP/USD Intraday: watch 1.2300.
Pivot:
1.2225
Our preference:
long positions above 1.2225 with targets at 1.2275 & 1.2300 in extension.
Alternative scenario:
below 1.2225 look for further downside with 1.2200 & 1.2175 as targets.
Comment:
the RSI lacks downward momentum.
AUD/USD Intraday: target 0.6735.
Pivot:
0.6775
Our preference:
short positions below 0.6775 with targets at 0.6750 & 0.6735 in extension.
Alternative scenario:
above 0.6775 look for further upside with 0.6785 & 0.6800 as targets.
Comment:
a break below 0.6750 would trigger a drop towards 0.6735.
USD/JPY Intraday: key resistance at 106.65.
Pivot:
106.65
Our preference:
short positions below 106.65 with targets at 106.25 & 106.10 in extension.
Alternative scenario:
above 106.65 look for further upside with 106.80 & 106.95 as targets.
Comment:
the index currently faces a challenging resistance area at 106.65.
Gold spot Intraday: consolidation.
Pivot:
1503.00
Our preference:
short positions below 1503.00 with targets at 1492.50 & 1487.00 in extension.
Alternative scenario:
above 1503.00 look for further upside with 1506.00 & 1509.00 as targets.
Comment:
as long as 1503.00 is resistance, look for choppy price action with a bearish bias.
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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