Daily Pivot Point – EUR/USD Intraday: caution.
Pivot: 1.1400
Our preference: short positions below 1.1400 with targets at 1.1370 & 1.1355 in extension.
Alternative scenario: above 1.1400
Comment: the upward potential is likely to be limited by the resistance at 1.1400.
GBP/USD Intraday: the upside prevails.
Pivot: 1.2640
Our preference: long positions above 1.2640 with targets at 1.2690 & 1.2710 in extension.
Alternative scenario: below 1.2640 look for further downside with 1.2620 & 1.2605 as targets.
Comment: the RSI lacks downward momentum.
AUD/USD Intraday: watch 0.7025.
Pivot: 0.7075
Our preference: short positions below 0.7075 with targets at 0.7025 & 0.7000 in extension.
Alternative scenario: above 0.7075 look for further upside with 0.7105 & 0.7125 as targets.
Comment: a break below 0.7025 would trigger a drop towards 0.7000.
Gold spot Intraday: further advance.
Pivot: 1259.0000
Our preference: long positions above 1259.00 with targets at 1266.50 & 1270.00 in extension.
Alternative scenario: below 1259.00 look for further downside with 1256.50 & 1253.50 as targets.
Comment: the RSI calls for a new upleg.
Silver spot Intraday: rebound in sight.
Pivot: 14.6400
Our preference: long positions above 14.6400 with targets at 14.7600 & 14.8400 in extension.
Alternative scenario: below 14.6400 look for further downside with 14.5900 & 14.5400 as targets.
Comment: the RSI calls for a rebound.
Crude Oil (WTI) (G19) Intraday: rebound in sight.
Pivot: 45.3000
Our preference: long positions above 45.30 with targets at 46.90 & 47.25 in extension.
Alternative scenario: below 45.30 look for further downside with 44.80 & 44.30 as targets.
Comment: the RSI advocates for further advance. Crude oil crosses above both 20-period and 50-period moving averages.
Source: HYCM Forex Broker
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