TC FX Analysis

Date:2018/8/24 GBP/USD Intraday: the downside prevails.

EUR/USD Intraday: the downside prevails.
Pivot: 1.1575

Our preference: short positions below 1.1575 with targets at 1.1490 & 1.1460 in extension.

Alternative scenario: above 1.1575 look for further upside with 1.1600 & 1.1620 as targets.

Comment: the RSI is bearish and calls for further decline.

Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point  | Black represents the price when the report was produced

GBP/USD Intraday: the downside prevails.
Pivot: 1.2850

Our preference: short positions below 1.2850 with targets at 1.2750 & 1.2730 in extension.

Alternative scenario: above 1.2850 look for further upside with 1.2885 & 1.2910 as targets.

Comment: the RSI advocates for further downside.

Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point  | Black represents the price when the report was produced

AUD/USD Intraday: the downside prevails.
Pivot: 0.7280

Our preference: short positions below 0.7280 with targets at 0.7200 & 0.7180 in extension.

Alternative scenario: above 0.7280 look for further upside with 0.7300 & 0.7330 as targets.

Comment: the RSI advocates for further decline.

Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point  | Black represents the price when the report was produced

USD/JPY Intraday: the upside prevails.
Pivot: 111.00

Our preference: long positions above 111.00 with targets at 111.75 & 112.00 in extension.

Alternative scenario: below 111.00 look for further downside with 110.70 & 110.35 as targets.

Comment: the RSI calls for a bounce.

Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point  | Black represents the price when the report was produced

Gold spot Intraday: under pressure.
Pivot: 1190.00

Our preference: short positions below 1190.00 with targets at 1179.00 & 1175.00 in extension.

Alternative scenario: above 1190.00 look for further upside with 1193.00 & 1196.00 as targets.

Comment: the RSI has broken down its 30 level.

Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point  | Black represents the price when the report was produced

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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