TC FX Analysis

Date:2018/8/08 EUR/USD Intraday: aim @ 1.1610.

EUR/USD Intraday: aim @ 1.1610.

Pivot: 1.1580

Our preference: long positions above 1.1580 with targets at 1.1610 & 1.1630 in extension.

Alternative scenario: below 1.1580 look for further downside with 1.1550 & 1.1530 as targets.

Comment: the RSI advocates for further upside.

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: rebound expected.

Pivot: 1.2920

Our preference: long positions above 1.2920 with targets at 1.2975 & 1.3005 in extension.

Alternative scenario: below 1.2920 look for further downside with 1.2890 & 1.2860 as targets.

Comment: a support base at 1.2920 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: bullish bias above 0.7410.

Pivot: 0.7410

Our preference: long positions above 0.7410 with targets at 0.7440 & 0.7450 in extension.

Alternative scenario: below 0.7410 look for further downside with 0.7395 & 0.7380 as targets.

Comment: a support base at 0.7410 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

USD/JPY Intraday: bullish bias above 111.25.

Pivot: 111.25

Our preference: long positions above 111.25 with targets at 111.50 & 111.65 in extension.

Alternative scenario: below 111.25 look for further downside with 111.10 & 110.95 as targets.

Comment: technically the RSI is above its neutrality area at 50.

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: key resistance at 1216.00.

Pivot: 1216.00

Our preference: short positions below 1216.00 with targets at 1208.00 & 1206.00 in extension.

Alternative scenario: above 1216.00 look for further upside with 1218.00 & 1220.00 as targets.

Comment: as long as 1216.00 is resistance, look for choppy price action with a bearish bias.

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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