USD/CAD Analysis – Canada: Manufactured goods prices rose 1.6% m/m in April.
Comment:
RSI shows the possibility of a downtrend during the day.
Our Analysis:
Provided that the currency pair is traded below 1.2275, follow the recommendations below:
Time frame: 30 min
Recommendation: short position
Entry point: 1.2075
Take Profit 1: 1.1980
Take Profit 2: 1.1680
Alternative scenario:
In case of breakout of the level 1.2275, follow the recommendations below:
Time frame: 30 min
Recommendation: long position
Entry point: 1.2275
Take Profit 1: 1.2400
Take Profit 2: 1.2500
EUR/USD Intraday: the upside prevails.
Pivot:
1.2210
Our preference:
Long positions above 1.2210 with targets at 1.2245 & 1.2265 in extension.
Alternative scenario:
Below 1.2210 look for further downside with 1.2195 & 1.2180 as targets.
Comment:
The RSI lacks downward momentum.
GBP/USD Intraday: the bias remains bullish.
Pivot:
1.4200
Our preference:
Long positions above 1.4200 with targets at 1.4250 & 1.4270 in extension.
Alternative scenario:
Below 1.4200 look for further downside with 1.4165 & 1.4135 as targets.
Comment:
The RSI shows upside momentum.
AUD/USD Intraday: caution.
Pivot:
0.7735
Our preference:
Long positions above 0.7735 with targets at 0.7770 & 0.7795 in extension.
Alternative scenario:
Below 0.7735 look for further downside with 0.7720 & 0.7705 as targets.
Comment:
The RSI is mixed and calls for caution.
Gold Intraday: bullish bias above 1901.00.
Pivot:
1901.00
Our preference:
Long positions above 1901.00 with targets at 1921.00 & 1928.00 in extension.
Alternative scenario:
Below 1901.00 look for further downside with 1892.00 & 1887.00 as targets.
Comment:
The RSI is mixed with a bullish bias.
Silver spot Intraday: bullish bias above 27.9800.
Pivot:
27.9800
Our preference:
Long positions above 27.9800 with targets at 28.4500 & 28.6500 in extension.
Alternative scenario:
Below 27.9800 look for further downside with 27.8500 & 27.6800 as targets.
Comment:
The RSI is mixed with a bullish bias.
Categories :
Tags :
