Daily Pivot Point

Daily Pivot Point – EUR/USD Intraday: consolidation. 

 Pivot: 1.1405

Most Likely Scenario: short positions below 1.1405 with targets at 1.1365 & 1.1350 in extension.

Alternative scenario: above 1.1405 look for further upside with 1.1420 & 1.1440 as targets.

Comment: the RSI lacks upward momentum.

 Pivot: 1.2625

Most Likely Scenario: long positions above 1.2625 with targets at 1.2670 & 1.2685 in extension.

Alternative scenario: below 1.2625 look for further downside with 1.2605 & 1.2590 as targets.

Comment: the RSI shows upside momentum.

USD/JPY Intraday: under pressure. Prev Prev arrow
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 Pivot: 112.35

Most Likely Scenario: short @ 112.05 with targets @ 111.80 & 111.60 in extension.

Alternative scenario: above 112.35 look for further upside with 112.65 & 112.85 as targets.

Comment: the RSI shows downside momentum.

AUD/USD Intraday: the downside prevails. Prev Prev arrow
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 Pivot: 0.7125

Most Likely Scenario: short positions below 0.7125 with targets at 0.7065 & 0.7050 in extension.

Alternative scenario: above 0.7125 look for further upside with 0.7145 & 0.7160 as targets.

Comment: the RSI advocates for further decline.

Gold spot Intraday: key resistance at 1247.00. Prev Prev arrow
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 Pivot: 1247.00

Most Likely Scenario: short positions below 1247.00 with targets at 1241.50 & 1239.00 in extension.

Alternative scenario: above 1247.00 look for further upside with 1251.00 & 1254.00 as targets.

Comment: the RSI is mixed with a bearish bias

Crude Oil (WTI) (G19) Intraday: caution. Prev Prev arrow
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 Pivot: 46.90

Most Likely Scenario: long positions above 46.90 with targets at 47.50 & 47.90 in extension.

Alternative scenario: below 46.90 look for further downside with 46.10 & 45.50 as targets.

Comment: a support base at 46.90 has formed and has allowed for a temporary stabilisation. The RSI is below its neutrality at 50 but is turning up.

Source: Fxpro Forex Broker