Daily Technical Analysis Tue, Apr 18, 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 1.0630.
Pivot: 1.0630
Most Likely Scenario: long positions above 1.0630 with targets at 1.0655 & 1.0675 in extension.
Alternative scenario: below 1.0630 look for further downside with 1.0605 & 1.0590 as targets.
Comment: a support base at 1.0630 has formed and has allowed for a temporary stabilisation.
GBP/USD Intraday: a support base at 1.2545 has formed and has allowed for a temporary stabilisation.
Pivot: 1.2545
Most Likely Scenario: long positions above 1.2545 with targets at 1.2575 & 1.2595 in extension.
Alternative scenario: below 1.2545 look for further downside with 1.2525 & 1.2500 as targets.
Comment: a support base at 1.2545 has formed and has allowed for a temporary stabilisation.
USD/JPY Intraday: technically the RSI is above its neutrality area at 50.
Pivot: 108.50
Most Likely Scenario: long positions above 108.50 with targets at 109.20 & 109.50 in extension.
Alternative scenario: below 108.50 look for further downside with 108.20 & 108.00 as targets.
Comment: technically the RSI is above its neutrality area at 50.
AUD/USD Intraday: the RSI is mixed to bearish.
Pivot: 0.7595
Most Likely Scenario: short positions below 0.7595 with targets at 0.7545 & 0.7525 in extension.
Alternative scenario: above 0.7595 look for further upside with 0.7610 & 0.7635 as targets.
Comment: the RSI is mixed to bearish.
Gold spot Intraday: the RSI is bearish and calls for further downside.
Pivot: 1290.00
Most Likely Scenario: short positions below 1290.00 with targets at 1278.00 & 1271.60 in extension.
Alternative scenario: above 1290.00 look for further upside with 1295.00 & 1302.00 as targets.
Comment: the RSI is bearish and calls for further downside.
Pivot: 1.0630
Most Likely Scenario: long positions above 1.0630 with targets at 1.0655 & 1.0675 in extension.
Alternative scenario: below 1.0630 look for further downside with 1.0605 & 1.0590 as targets.
Comment: a support base at 1.0630 has formed and has allowed for a temporary stabilisation.
GBP/USD Intraday: a support base at 1.2545 has formed and has allowed for a temporary stabilisation.
Pivot: 1.2545
Most Likely Scenario: long positions above 1.2545 with targets at 1.2575 & 1.2595 in extension.
Alternative scenario: below 1.2545 look for further downside with 1.2525 & 1.2500 as targets.
Comment: a support base at 1.2545 has formed and has allowed for a temporary stabilisation.
USD/JPY Intraday: technically the RSI is above its neutrality area at 50.
Pivot: 108.50
Most Likely Scenario: long positions above 108.50 with targets at 109.20 & 109.50 in extension.
Alternative scenario: below 108.50 look for further downside with 108.20 & 108.00 as targets.
Comment: technically the RSI is above its neutrality area at 50.
AUD/USD Intraday: the RSI is mixed to bearish.
Pivot: 0.7595
Most Likely Scenario: short positions below 0.7595 with targets at 0.7545 & 0.7525 in extension.
Alternative scenario: above 0.7595 look for further upside with 0.7610 & 0.7635 as targets.
Comment: the RSI is mixed to bearish.
Gold spot Intraday: the RSI is bearish and calls for further downside.
Pivot: 1290.00
Most Likely Scenario: short positions below 1290.00 with targets at 1278.00 & 1271.60 in extension.
Alternative scenario: above 1290.00 look for further upside with 1295.00 & 1302.00 as targets.
Comment: the RSI is bearish and calls for further downside.
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