Daily Technical Analysis Wed, May 03, 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: further advance.
Pivot: 1.0905
Most Likely Scenario: long positions above 1.0905 with targets at 1.0945 & 1.0960 in extension.
Alternative scenario: below 1.0905 look for further downside with 1.0885 & 1.0870 as targets.
Comment: the RSI is bullish and calls for further upside.
GBP/USD Intraday: the RSI shows downside momentum.
Pivot: 1.2950
Most Likely Scenario: short positions below 1.2950 with targets at 1.2880 & 1.2860 in extension.
Alternative scenario: above 1.2950 look for further upside with 1.2965 & 1.2995 as targets.
Comment: the RSI shows downside momentum.
USD/JPY Intraday: technically the RSI is above its neutrality area at 50.
Pivot: 111.75
Most Likely Scenario: long positions above 111.75 with targets at 112.30 & 112.55 in extension.
Alternative scenario: below 111.75 look for further downside with 111.55 & 111.20 as targets.
Comment: technically the RSI is above its neutrality area at 50.
AUD/USD Intraday: the RSI is mixed to bearish.
Pivot: 0.7550
Most Likely Scenario: short positions below 0.7550 with targets at 0.7490 & 0.7470 in extension.
Alternative scenario: above 0.7550 look for further upside with 0.7570 & 0.7590 as targets.
Comment: the RSI is mixed to bearish.
Gold spot Intraday: : the RSI is bearish and calls for further decline.
Pivot: 1259.50
Most Likely Scenario: short positions below 1259.50 with targets at 1252.00 & 1250.00 in extension.
Alternative scenario: above 1259.50 look for further upside with 1261.50 & 1264.00 as targets.
Comment: : the RSI is bearish and calls for further decline.
Pivot: 1.0905
Most Likely Scenario: long positions above 1.0905 with targets at 1.0945 & 1.0960 in extension.
Alternative scenario: below 1.0905 look for further downside with 1.0885 & 1.0870 as targets.
Comment: the RSI is bullish and calls for further upside.
GBP/USD Intraday: the RSI shows downside momentum.
Pivot: 1.2950
Most Likely Scenario: short positions below 1.2950 with targets at 1.2880 & 1.2860 in extension.
Alternative scenario: above 1.2950 look for further upside with 1.2965 & 1.2995 as targets.
Comment: the RSI shows downside momentum.
USD/JPY Intraday: technically the RSI is above its neutrality area at 50.
Pivot: 111.75
Most Likely Scenario: long positions above 111.75 with targets at 112.30 & 112.55 in extension.
Alternative scenario: below 111.75 look for further downside with 111.55 & 111.20 as targets.
Comment: technically the RSI is above its neutrality area at 50.
AUD/USD Intraday: the RSI is mixed to bearish.
Pivot: 0.7550
Most Likely Scenario: short positions below 0.7550 with targets at 0.7490 & 0.7470 in extension.
Alternative scenario: above 0.7550 look for further upside with 0.7570 & 0.7590 as targets.
Comment: the RSI is mixed to bearish.
Gold spot Intraday: : the RSI is bearish and calls for further decline.
Pivot: 1259.50
Most Likely Scenario: short positions below 1259.50 with targets at 1252.00 & 1250.00 in extension.
Alternative scenario: above 1259.50 look for further upside with 1261.50 & 1264.00 as targets.
Comment: : the RSI is bearish and calls for further decline.
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