Friday, July 12, 2019
EUR/USD Intraday: further upside.
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Pivot:1.1255
Our preference:long positions above 1.1255 with targets at 1.1285 & 1.1300 in extension.
Alternative scenario:below 1.1255 look for further downside with 1.1240 & 1.1225 as targets.
Comment:the RSI advocates for further advance.
GBP/USD Intraday: towards 1.2570.
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Pivot:1.2525
Our preference:long positions above 1.2525 with targets at 1.2555 & 1.2570 in extension.
Alternative scenario:below 1.2525 look for further downside with 1.2510 & 1.2490 as targets.
Comment:the RSI advocates for further advance.
USD/JPY Intraday: intraday support around 108.20.
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Pivot: 108.20
Most Likely Scenario: long positions above 108.20 with targets at 108.60 & 108.75 in extension.
Alternative scenario: below 108.20 look for further downside with 108.00 & 107.85 as targets.
Comment: a support base at 108.20 has formed and has allowed for a temporary stabilisation.
AUD/USD Intraday: further upside.
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Pivot:0.6975
Our preference:long positions above 0.6975 with targets at 0.7010 & 0.7025 in extension.
Alternative scenario:below 0.6975 look for further downside with 0.6955 & 0.6940 as targets.
Comment:the RSI advocates for further advance.
Gold spot Intraday: expect 1400.50.
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Pivot:1412.00
Our preference:short positions below 1412.00 with targets at 1403.50 & 1400.50 in extension.
Alternative scenario:above 1412.00 look for further upside with 1419.00 & 1424.00 as targets.
Comment:a break below 1403.50 would trigger a drop towards 1400.50.
Silver spot Intraday: break of a ST rising trendline support.
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Pivot:15.1800
Our preference:short positions below 15.1800 with targets at 15.0700 & 14.9800 in extension.
Alternative scenario:above 15.1800 look for further upside with 15.2400 & 15.3100 as targets.
Comment:the RSI has just struck against its neutrality area at 50% and is reversing down.
Crude Oil (WTI) (Q9) Intraday: further upside.
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Pivot:60.15
Our preference:long positions above 60.15 with targets at 60.90 & 61.60 in extension.
Alternative scenario:below 60.15 look for further downside with 59.65 & 59.10 as targets.
Comment:a support base at 60.15 has formed and has allowed for a temporary stabilisation. Crude oil is trading above the 20-period moving average and is challenging the 50-period one.