Pivot Point Levels (2016.05.05)

Pivot Point Levels – EUR/USD Intraday: under pressure.

Pivot: 1.1540

Our preference: short positions below 1.1540 with targets @ 1.1450 & 1.1415 in extension.

Alternative scenario: above 1.1540 look for further upside with 1.1600 & 1.1660 as targets.

Comment: the RSI is mixed to bearish.

EUR/USD Chart

GBP/USD Intraday: under pressure.

Pivot: 1.4575

Our preference: short positions below 1.4575 with targets @ 1.4465 & 1.4400 in extension.

Alternative scenario: above 1.4575 look for further upside with 1.4620 & 1.4660 as targets.

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

GBP/USD Chart

Gold spot Intraday: under pressure.

Pivot: 1289.70

Our preference: short positions below 1289.70 with targets @ 1271.50 & 1264.00 in extension.

Alternative scenario: above 1289.70 look for further upside with 1301.50 & 1314.00 as targets.

Comment: the RSI lacks upward momentum.

Gold Chart

Source: ETX Capital Broker (Review and Forex Rebates Up to 85%)

About FxPro

FxPro was founded as EuroOrient Securities & Financial Services Ltd in 2006 in Cyprus by Denis Sukhotin. FxPro began its expansion with the opening of representative offices in Austria, France Spain and Russia In 2010, FxPro was granted regulation and licensing by the UK’s Financial Conduct Authority (Financial Services Authority at that time) and opened its London office.

In 2011, the company opened an office in Australia, however it shut this down in March 2013 and moved those clients to its Cyprus and UK operations after new capital regulations came into force in Australia.In 2011, FxPro started offering electronic communication network (ECN) trading access to some of its clients. In 2012, FxPro moved away from being a market maker in favour of a no dealing desk (NDD) or agency model. This means that trades are now passed straight through to liquidity providers.