TC FX Analysis

Date:2018/8/02 GBP/USD Intraday: the bias remains bullish.

EUR/USD Intraday: under pressure.

Pivot: 1.1680

Our preference: short positions below 1.1680 with targets at 1.1650 & 1.1635 in extension.

Alternative scenario: above 1.1680 look for further upside with 1.1700 & 1.1720 as targets.

Comment: the break below 1.1680 is a negative signal that has opened a path to 1.1650.

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 bias remains bullish.

Pivot: 1.3105

Our preference: long positions above 1.3105 with targets at 1.3145 & 1.3170 in extension.

Alternative scenario: below 1.3105 look for further downside with 1.3080 & 1.3050 as targets.

Comment: a support base at 1.3105 has formed and has allowed for a temporary stabilisation.

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: caution.

Pivot: 0.7410

Our preference: short positions below 0.7410 with targets at 0.7390 & 0.7380 in extension.

Alternative scenario: above 0.7410 look for further upside with 0.7420 & 0.7430 as targets.

Comment: the RSI is mixed and calls for caution.

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: key resistance at 111.75.

Pivot: 111.75

Our preference: short positions below 111.75 with targets at 111.35 & 111.15 in extension.

Alternative scenario: above 111.75 look for further upside with 112.00 & 112.15 as targets.

Comment: the upward potential is likely to be limited by the resistance at 111.75.

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: 1222.00

Our preference: short positions below 1222.00 with targets at 1213.50 & 1211.00 in extension.

Alternative scenario: above 1222.00 look for further upside with 1225.00 & 1228.50 as targets.

Comment: the RSI is mixed to bearish.

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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