Daily Technical Analysis Mon, May 08, 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 1.0950.
Pivot: 1.0950
Most Likely Scenario: long positions above 1.0950 with targets at 1.1000 & 1.1020 in extension.
Alternative scenario: below 1.0950 look for further downside with 1.0920 & 1.0900 as targets.
Comment: a support base at 1.0950 has formed and has allowed for a temporary stabilisation.
GBP/USD Intraday: a support base at 1.2940 has formed and has allowed for a temporary stabilisation.
Pivot: 1.2940
Most Likely Scenario: long positions above 1.2940 with targets at 1.2990 & 1.3020 in extension.
Alternative scenario: below 1.2940 look for further downside with 1.2925 & 1.2900 as targets.
Comment: a support base at 1.2940 has formed and has allowed for a temporary stabilisation.
USD/JPY Intraday: the RSI shows upside momentum.
Pivot: 112.45
Most Likely Scenario: long positions above 112.45 with targets at 113.05 & 113.30 in extension.
Alternative scenario: below 112.45 look for further downside with 112.10 & 111.90 as targets.
Comment: the RSI shows upside momentum.
AUD/USD Intraday: the RSI is mixed to bearish.
Pivot: 0.7425
Most Likely Scenario: short positions below 0.7425 with targets at 0.7380 & 0.7360 in extension.
Alternative scenario: above 0.7425 look for further upside with 0.7445 & 0.7465 as targets.
Comment: the RSI is mixed to bearish.
Gold spot Intraday: the RSI is mixed to bullish.
Pivot: 1221.00
Most Likely Scenario: long positions above 1221.00 with targets at 1236.00 & 1241.50 in extension.
Alternative scenario: below 1221.00 look for further downside with 1216.00 & 1210.00 as targets.
Comment: the RSI is mixed to bullish.
Pivot: 1.0950
Most Likely Scenario: long positions above 1.0950 with targets at 1.1000 & 1.1020 in extension.
Alternative scenario: below 1.0950 look for further downside with 1.0920 & 1.0900 as targets.
Comment: a support base at 1.0950 has formed and has allowed for a temporary stabilisation.
GBP/USD Intraday: a support base at 1.2940 has formed and has allowed for a temporary stabilisation.
Pivot: 1.2940
Most Likely Scenario: long positions above 1.2940 with targets at 1.2990 & 1.3020 in extension.
Alternative scenario: below 1.2940 look for further downside with 1.2925 & 1.2900 as targets.
Comment: a support base at 1.2940 has formed and has allowed for a temporary stabilisation.
USD/JPY Intraday: the RSI shows upside momentum.
Pivot: 112.45
Most Likely Scenario: long positions above 112.45 with targets at 113.05 & 113.30 in extension.
Alternative scenario: below 112.45 look for further downside with 112.10 & 111.90 as targets.
Comment: the RSI shows upside momentum.
AUD/USD Intraday: the RSI is mixed to bearish.
Pivot: 0.7425
Most Likely Scenario: short positions below 0.7425 with targets at 0.7380 & 0.7360 in extension.
Alternative scenario: above 0.7425 look for further upside with 0.7445 & 0.7465 as targets.
Comment: the RSI is mixed to bearish.
Gold spot Intraday: the RSI is mixed to bullish.
Pivot: 1221.00
Most Likely Scenario: long positions above 1221.00 with targets at 1236.00 & 1241.50 in extension.
Alternative scenario: below 1221.00 look for further downside with 1216.00 & 1210.00 as targets.
Comment: the RSI is mixed to bullish.
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