Daily Technical Analysis

Daily Technical Analysis – EUR/USD Intraday: under pressure.

Pivot: 1.1445

Most Likely Scenario: short positions below 1.1445 with targets @ 1.1370 & 1.1310 in extension.

Alternative scenario: above 1.1445 look for further upside with 1.1480 & 1.1510 as targets.

Comment: a break below 1.1370 would trigger a drop towards 1.1310.

EUR/USD Chart

GBP/USD Intraday: under pressure.

Pivot: 1.4530

Most Likely Scenario: short positions below 1.4530 with targets @ 1.4400 & 1.4365 in extension.

Alternative scenario: above 1.4530 look for further upside with 1.4575 & 1.4620 as targets.

Comment: the RSI lacks upward momentum.

GBP/USD Chart

USD/JPY Intraday: the upside prevails.

Pivot: 107.00

Most Likely Scenario: long positions above 107.00 with targets @ 107.80 & 108.25 in extension.

Alternative scenario: below 107.00 look for further downside with 106.50 & 106.10 as targets.

Comment: the RSI is well directed.

USD/JPY Chart

AUD/USD Intraday: key resistance at 0.7450.

Pivot: 0.7450

Most Likely Scenario: short positions below 0.7450 with targets @ 0.7335 & 0.7260 in extension.

Alternative scenario: above 0.7450 look for further upside with 0.7515 & 0.7550 as targets.

Comment: as long as 0.7450 is resistance, likely decline to 0.7335.

AUD/USD Chart

Gold spot Intraday: bullish bias above 1274.00.

Pivot: 1274.00

Most Likely Scenario: long positions above 1274.00 with targets @ 1295.60 & 1301.50 in extension.

Alternative scenario: below 1274.00 look for further downside with 1268.50 & 1260.50 as targets.

Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

Source: Fxpro Forex Broker (Review and Forex Rebates up to 85%)