EUR/USD Intraday: under pressure.
Pivot:1.1120
Our preference: short positions below 1.1120 with targets at 1.1090 & 1.1080 in extension.
Alternative scenario: above 1.1120 look for further upside with 1.1135 & 1.1150 as targets.
Comment: the RSI lacks upward momentum.
GBP/USD Intraday: under pressure.
Pivot:1.2880
Our preference: short positions below 1.2880 with targets at 1.2810 & 1.2785 in extension.
Alternative scenario: above 1.2880 look for further upside with 1.2915 & 1.2945 as targets.
Comment: as long as the resistance at 1.2880 is not surpassed, the risk of the break below 1.2810 remains high.
AUD/USD Intraday: the downside prevails.
Pivot:0.6830
Our preference: short positions below 0.6830 with targets at 0.6800 & 0.6790 in extension.
Alternative scenario: above 0.6830 look for further upside with 0.6845 & 0.6860 as targets.
Comment: the break below 0.6830 is a negative signal that has opened a path to 0.6800.
USD/JPY Intraday: caution.
Pivot:108.65
Our preference: short positions below 108.65 with targets at 108.55 & 108.45 in extension.
Alternative scenario: above 108.65 look for further upside with 108.75 & 108.85 as targets.
Comment: the upward potential is likely to be limited by the resistance at 108.65.
Gold spot Intraday:bullish bias above 1496.00.
Pivot:1496.00
Our preference: long positions above 1496.00 with targets at 1507.00 & 1511.00 in extension.
Alternative scenario: below 1496.00 look for further downside with 1493.50 & 1490.50 as targets.
Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
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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