Daily Forex Analysis (2016.06.23)

Daily Forex Analysis – EUR/USD Intraday: 1.1350 expected.

Pivot: 1.1285

Most Likely Scenario: long positions above 1.1285 with targets @ 1.1350 & 1.1385 in extension.

Alternative scenario: below 1.1285 look for further downside with 1.1265 & 1.1240 as targets.

Comment: the RSI is mixed to bullish.

EUR/USD Chart

GBP/USD Intraday: further advance.

Pivot: 1.4640

Most Likely Scenario: long positions above 1.4640 with targets @ 1.4850 & 1.4900 in extension.

Alternative scenario: below 1.4640 look for further downside with 1.4555 & 1.4495 as targets.

Comment: the RSI is supported by a bullish trend line

GBP/USD Chart

USD/JPY Intraday: bullish bias above 104.25.

Pivot: 104.25

Most Likely Scenario: long positions above 104.25 with targets @ 105.10 & 105.60 in extension.

Alternative scenario: below 104.25 look for further downside with 103.70 & 103.20 as targets.

Comment: the RSI lacks downward momentum.

USD/JPY Chart

AUD/USD Intraday: target 0.7530.

Pivot: 0.7470

Most Likely Scenario: long positions above 0.7470 with targets @ 0.7530 & 0.7565 in extension.

Alternative scenario: below 0.7470 look for further downside with 0.7440 & 0.7405 as targets.

Comment: the RSI is mixed to bullish.

AUD/USD Chart

Gold spot Intraday: the downside prevails.

Pivot: 1278.00

Most Likely Scenario: short positions below 1278.00 with targets @ 1256.50 & 1249.00 in extension.

Alternative scenario: above 1278.00 look for further upside with 1294.00 & 1300.00 as targets.

Comment: the RSI is capped by a bearish trend line.

Gold Chart

Crude Oil (WTI) (Q6) Intraday: key resistance at 50.54.
Pivot: 50.54

Most Likely Scenario: short positions below 50.54 with targets @ 48.34 & 47.34 in extension.

Alternative scenario: above 50.54 look for further upside with 51.40 & 51.92 as targets.

Comment: the RSI lacks upward momentum. The declining 50-period moving average acts as resistance role and maintains the downside bias.

Source: Fxpro Forex Broker ( Review and Forex Rebates)