Daily Technical Analysis Wed, Apr 19, 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: the bias remains bullish.
Pivot: 1.0685
Most Likely Scenario: long positions above 1.0685 with targets at 1.0765 & 1.0790 in extension.
Alternative scenario: below 1.0685 look for further downside with 1.0655 & 1.0630 as targets.
Comment: the RSI is mixed to bullish.
GBP/USD Intraday: the RSI is mixed to bullish.
Pivot: 1.2735
Most Likely Scenario: long positions above 1.2735 with targets at 1.2905 & 1.2950 in extension.
Alternative scenario: below 1.2735 look for further downside with 1.2675 & 1.2610 as targets.
Comment: the RSI is mixed to bullish.
USD/JPY Intraday: the RSI lacks upward momentum.
Pivot: 108.85
Most Likely Scenario: short positions below 108.85 with targets at 108.20 & 108.00 in extension.
Alternative scenario: above 108.85 look for further upside with 109.20 & 109.50 as targets.
Comment: the RSI lacks upward momentum.
AUD/USD Intraday: the RSI shows downside momentum.
Pivot: 0.7565
Most Likely Scenario: short positions below 0.7565 with targets at 0.7500 & 0.7470 in extension.
Alternative scenario: above 0.7565 look for further upside with 0.7580 & 0.7595 as targets.
Comment: the RSI shows downside momentum.
Gold spot Intraday: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
Pivot: 1285.00
Most Likely Scenario: long positions above 1285.00 with targets at 1290.00 & 1292.30 in extension.
Alternative scenario: below 1285.00 look for further downside with 1282.00 & 1278.00 as targets.
Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
Pivot: 1.0685
Most Likely Scenario: long positions above 1.0685 with targets at 1.0765 & 1.0790 in extension.
Alternative scenario: below 1.0685 look for further downside with 1.0655 & 1.0630 as targets.
Comment: the RSI is mixed to bullish.
GBP/USD Intraday: the RSI is mixed to bullish.
Pivot: 1.2735
Most Likely Scenario: long positions above 1.2735 with targets at 1.2905 & 1.2950 in extension.
Alternative scenario: below 1.2735 look for further downside with 1.2675 & 1.2610 as targets.
Comment: the RSI is mixed to bullish.
USD/JPY Intraday: the RSI lacks upward momentum.
Pivot: 108.85
Most Likely Scenario: short positions below 108.85 with targets at 108.20 & 108.00 in extension.
Alternative scenario: above 108.85 look for further upside with 109.20 & 109.50 as targets.
Comment: the RSI lacks upward momentum.
AUD/USD Intraday: the RSI shows downside momentum.
Pivot: 0.7565
Most Likely Scenario: short positions below 0.7565 with targets at 0.7500 & 0.7470 in extension.
Alternative scenario: above 0.7565 look for further upside with 0.7580 & 0.7595 as targets.
Comment: the RSI shows downside momentum.
Gold spot Intraday: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
Pivot: 1285.00
Most Likely Scenario: long positions above 1285.00 with targets at 1290.00 & 1292.30 in extension.
Alternative scenario: below 1285.00 look for further downside with 1282.00 & 1278.00 as targets.
Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
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