Daily Technical Analysis Mon, Apr 24, 2017
* Please note that due to market volatility, some of the below sight prices may have already been reached and scenarios played out.
EUR/USD Intraday: bullish bias above 1.0780.
Pivot: 1.0780
Most Likely Scenario: long positions above 1.0780 with targets at 1.0900 & 1.0945 in extension.
Alternative scenario: below 1.0780 look for further downside with 1.0740 & 1.0685 as targets.
Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
GBP/USD Intraday: a support base at 1.2765 has formed and has allowed for a temporary stabilisation.
Pivot: 1.2765
Most Likely Scenario: long positions above 1.2765 with targets at 1.2835 & 1.2860 in extension.
Alternative scenario: below 1.2765 look for further downside with 1.2735 & 1.2675 as targets.
Comment: a support base at 1.2765 has formed and has allowed for a temporary stabilisation.
USD/JPY Intraday: the RSI is bullish and calls for further upside.
Pivot: 109.40
Most Likely Scenario: long positions above 109.40 with targets at 110.35 & 110.65 in extension.
Alternative scenario: below 109.40 look for further downside with 108.95 & 108.65 as targets.
Comment: the RSI is bullish and calls for further upside.
AUD/USD Intraday: the RSI shows upside momentum.
Pivot: : 0.7530
Most Likely Scenario: long positions above 0.7530 with targets at 0.7575 & 0.7595 in extension.
Alternative scenario: below 0.7530 look for further downside with 0.7510 & 0.7485 as targets.
Comment: the RSI shows upside momentum.
Pivot: 1.0780
Most Likely Scenario: long positions above 1.0780 with targets at 1.0900 & 1.0945 in extension.
Alternative scenario: below 1.0780 look for further downside with 1.0740 & 1.0685 as targets.
Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
GBP/USD Intraday: a support base at 1.2765 has formed and has allowed for a temporary stabilisation.
Pivot: 1.2765
Most Likely Scenario: long positions above 1.2765 with targets at 1.2835 & 1.2860 in extension.
Alternative scenario: below 1.2765 look for further downside with 1.2735 & 1.2675 as targets.
Comment: a support base at 1.2765 has formed and has allowed for a temporary stabilisation.
USD/JPY Intraday: the RSI is bullish and calls for further upside.
Pivot: 109.40
Most Likely Scenario: long positions above 109.40 with targets at 110.35 & 110.65 in extension.
Alternative scenario: below 109.40 look for further downside with 108.95 & 108.65 as targets.
Comment: the RSI is bullish and calls for further upside.
AUD/USD Intraday: the RSI shows upside momentum.
Pivot: : 0.7530
Most Likely Scenario: long positions above 0.7530 with targets at 0.7575 & 0.7595 in extension.
Alternative scenario: below 0.7530 look for further downside with 0.7510 & 0.7485 as targets.
Comment: the RSI shows upside momentum.
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