Daily Technical Analysis

Daily Technical Analysis -EUR/USD Intraday: supported by a rising trend line.
Pivot: 1.2220
Our preference: long positions above 1.2220 with targets at 1.2290 & 1.2325 in extension.
Alternative scenario: below 1.2220 look for further downside with 1.2195 & 1.2160 as targets.
Comment: the RSI shows upside momentum.

Daily Technical Analysis

GBP/USD Intraday: the bias remains bullish.
Pivot: 1.3850
Our preference: long positions above 1.3850 with targets at 1.3945 & 1.4000 in extension.
Alternative scenario: below 1.3850 look for further downside with 1.3820 & 1.3775 as targets.
Comment: the RSI shows upside momentum.

AUD/USD Intraday: the upside prevails.
Pivot: 0.7975
Our preference: long positions above 0.7975 with targets at 0.8040 & 0.8065 in extension.
Alternative scenario: below 0.7975 look for further downside with 0.7940 & 0.7920 as targets.
Comment: the RSI shows upside momentum.

Gold spot Intraday: under pressure.
Pivot: 1332.5000
Our preference: short positions below 1332.50 with targets at 1325.00 & 1322.50 in extension.
Alternative scenario: above 1332.50 look for further upside with 1337.00 & 1340.00 as targets.
Comment: as long as 1332.50 is resistance, expect a return to 1325.00.

Silver spot Intraday: under pressure.
Pivot: 17.1000
Our preference: short positions below 17.1000 with targets at 16.8400 & 16.7700 in extension.
Alternative scenario: above 17.1000 look for further upside with 17.2000 & 17.2900 as targets.
Comment: as long as 17.1000 is resistance, look for choppy price action with a bearish bias

Crude Oil (WTI) (G18) Intraday: under pressure.
Pivot: 63.6000
Our preference: short positions below 63.60 with targets at 62.85 & 62.55 in extension.
Alternative scenario: above 63.60 look for further upside with 63.85 & 64.20 as targets.
Comment: the RSI is bearish and calls for further downside. Crude oil broke below the triangle pattern, and may post a new decline.

Source: HYCM Forex Broker

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