EUR/USD Intraday:key resistance at 1.1010.
Pivot:1.1010
Our preference: short positions below 1.1010 with targets at 1.0980 & 1.0965 in extension.
Alternative scenario: above 1.1010 look for further upside with 1.1025 & 1.1040 as targets.
Comment: as long as the resistance at 1.1010 is not surpassed, the risk of the break below 1.0980 remains high.
GBP/USD Intraday: key resistance at 1.2460.
Pivot:1.2460
Our preference: short positions below 1.2460 with targets at 1.2410 & 1.2390 in extension.
Alternative scenario: above 1.2460 look for further upside with 1.2490 & 1.2520 as targets.
Comment: even though a continuation of the technical rebound cannot be ruled out, its extent should be limited.
AUD/USD Intraday: further upside.
Pivot:0.6760
Our preference: long positions above 0.6760 with targets at 0.6780 & 0.6795 in extension.
Alternative scenario: below 0.6760 look for further downside with 0.6740 & 0.6730 as targets.
Comment: the RSI lacks downward momentum.
USD/JPY Intraday: turning up.
Pivot:107.30
Our preference: long positions above 107.30 with targets at 107.75 & 108.00 in extension.
Alternative scenario: below 107.30 look for further downside with 107.15 & 107.00 as targets.
Comment: the RSI calls for a new upleg.
Gold spot Intraday:bullish bias above 1516.00.
Pivot:1516.00
Our preference: long positions above 1516.00 with targets at 1526.50 & 1534.00 in extension.
Alternative scenario: below 1516.00 look for further downside with 1511.50 & 1507.00 as targets.
Comment: a support base at 1516.00 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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