Daily Technical Analysis Thu, Aug 31, 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 downside prevails.
Pivot: 1.1940
Most Likely Scenario: short positions below 1.1940 with targets at 1.1825 & 1.1785 in extension.
Alternative scenario: above 1.1940 look for further upside with 1.1985 & 1.2030 as targets.
Comment: the RSI shows downside momentum.
#GBP/USD Intraday: a break below 1.2900 would trigger a drop towards 1.2875.
Pivot: 1.2940
Most Likely Scenario: short positions below 1.2940 with targets at 1.2900 & 1.2875 in extension.
Alternative scenario: above 1.2940 look for further upside with 1.2970 & 1.2990 as targets.
Comment: a break below 1.2900 would trigger a drop towards 1.2875.
#USD/JPY Intraday: the RSI shows upside momentum.
Pivot: 110.10
Most Likely Scenario: long positions above 110.10 with targets at 110.85 & 111.25 in extension.
Alternative scenario: below 110.10 look for further downside with 109.50 & 109.00 as targets.
Comment: the RSI shows upside momentum.
#AUD/USD Intraday: a break below 0.7890 would trigger a drop towards 0.7870.
Pivot: 0.7940
Most Likely Scenario: short positions below 0.7940 with targets at 0.7890 & 0.7870 in extension.
Alternative scenario: above 0.7940 look for further upside with 0.7960 & 0.7980 as targets.
Comment: a break below 0.7890 would trigger a drop towards 0.7870.
#Gold spot Intraday: the RSI is bearish and calls for further decline.
Pivot: 1310.00
Most Likely Scenario: short positions below 1310.00 with targets at 1296.00 & 1292.00 in extension.
Alternative scenario: above 1310.00 look for further upside with 1316.00 & 1321.00 as targets.
Comment: the RSI is bearish and calls for further decline.
Pivot: 1.1940
Most Likely Scenario: short positions below 1.1940 with targets at 1.1825 & 1.1785 in extension.
Alternative scenario: above 1.1940 look for further upside with 1.1985 & 1.2030 as targets.
Comment: the RSI shows downside momentum.
#GBP/USD Intraday: a break below 1.2900 would trigger a drop towards 1.2875.
Pivot: 1.2940
Most Likely Scenario: short positions below 1.2940 with targets at 1.2900 & 1.2875 in extension.
Alternative scenario: above 1.2940 look for further upside with 1.2970 & 1.2990 as targets.
Comment: a break below 1.2900 would trigger a drop towards 1.2875.
#USD/JPY Intraday: the RSI shows upside momentum.
Pivot: 110.10
Most Likely Scenario: long positions above 110.10 with targets at 110.85 & 111.25 in extension.
Alternative scenario: below 110.10 look for further downside with 109.50 & 109.00 as targets.
Comment: the RSI shows upside momentum.
#AUD/USD Intraday: a break below 0.7890 would trigger a drop towards 0.7870.
Pivot: 0.7940
Most Likely Scenario: short positions below 0.7940 with targets at 0.7890 & 0.7870 in extension.
Alternative scenario: above 0.7940 look for further upside with 0.7960 & 0.7980 as targets.
Comment: a break below 0.7890 would trigger a drop towards 0.7870.
#Gold spot Intraday: the RSI is bearish and calls for further decline.
Pivot: 1310.00
Most Likely Scenario: short positions below 1310.00 with targets at 1296.00 & 1292.00 in extension.
Alternative scenario: above 1310.00 look for further upside with 1316.00 & 1321.00 as targets.
Comment: the RSI is bearish and calls for further decline.
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