Daily Technical Analysis Tue, Sep 12, 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: capped by a negative trend line.
Pivot: 1.2000
Most Likely Scenario: short positions below 1.2000 with targets at 1.1910 & 1.1870 in extension.
Alternative scenario: above 1.2000 look for further upside with 1.2030 & 1.2050 as targets.
Comment: as long as 1.2000 is resistance, look for choppy price action with a bearish bias.
#GBP/USD Intraday: a support base at 1.3150 has formed and has allowed for a temporary stabilisation.
Pivot: 1.3150
Most Likely Scenario: long positions above 1.3150 with targets at 1.3225 & 1.3280 in extension.
Alternative scenario: below 1.3150 look for further downside with 1.3115 & 1.3060 as targets.
Comment: a support base at 1.3150 has formed and has allowed for a temporary stabilisation.
#USD/JPY Intraday: the RSI shows upside momentum.
Pivot: 108.80
Most Likely Scenario: long positions above 108.80 with targets at 109.55 & 109.95 in extension.
Alternative scenario: below 108.80 look for further downside with 108.30 & 107.80 as targets.
Comment: the RSI shows upside momentum.
#UD/USD Intraday: a break below 0.8000 would trigger a drop towards 0.7975.
Pivot: 0.8060
Most Likely Scenario: short positions below 0.8060 with targets at 0.8000 & 0.7975 in extension.
Alternative scenario: above 0.8060 look for further upside with 0.8080 & 0.8110 as targets.
Comment: a break below 0.8000 would trigger a drop towards 0.7975.
#Gold spot Intraday: the RSI is bearish and calls for further decline.
Pivot: 1335.50
Most Likely Scenario: short positions below 1335.50 with targets at 1317.00 & 1311.00 in extension.
Alternative scenario: above 1335.50 look for further upside with 1344.00 & 1351.00 as targets.
Comment: the RSI is bearish and calls for further decline.
Pivot: 1.2000
Most Likely Scenario: short positions below 1.2000 with targets at 1.1910 & 1.1870 in extension.
Alternative scenario: above 1.2000 look for further upside with 1.2030 & 1.2050 as targets.
Comment: as long as 1.2000 is resistance, look for choppy price action with a bearish bias.
#GBP/USD Intraday: a support base at 1.3150 has formed and has allowed for a temporary stabilisation.
Pivot: 1.3150
Most Likely Scenario: long positions above 1.3150 with targets at 1.3225 & 1.3280 in extension.
Alternative scenario: below 1.3150 look for further downside with 1.3115 & 1.3060 as targets.
Comment: a support base at 1.3150 has formed and has allowed for a temporary stabilisation.
#USD/JPY Intraday: the RSI shows upside momentum.
Pivot: 108.80
Most Likely Scenario: long positions above 108.80 with targets at 109.55 & 109.95 in extension.
Alternative scenario: below 108.80 look for further downside with 108.30 & 107.80 as targets.
Comment: the RSI shows upside momentum.
#UD/USD Intraday: a break below 0.8000 would trigger a drop towards 0.7975.
Pivot: 0.8060
Most Likely Scenario: short positions below 0.8060 with targets at 0.8000 & 0.7975 in extension.
Alternative scenario: above 0.8060 look for further upside with 0.8080 & 0.8110 as targets.
Comment: a break below 0.8000 would trigger a drop towards 0.7975.
#Gold spot Intraday: the RSI is bearish and calls for further decline.
Pivot: 1335.50
Most Likely Scenario: short positions below 1335.50 with targets at 1317.00 & 1311.00 in extension.
Alternative scenario: above 1335.50 look for further upside with 1344.00 & 1351.00 as targets.
Comment: the RSI is bearish and calls for further decline.
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