Daily Technical Analysis Wed, Sep 06, 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 upside prevails.
Pivot: 1.1875
Most Likely Scenario: long positions above 1.1875 with targets at 1.1940 & 1.1960 in extension.
Alternative scenario: below 1.1875 look for further downside with 1.1850 & 1.1820 as targets.
Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
#GBP/USD Intraday: technically the RSI is above its neutrality area at 50.
Pivot: 1.2990
Most Likely Scenario: long positions above 1.2990 with targets at 1.3050 & 1.3085 in extension.
Alternative scenario: below 1.2990 look for further downside with 1.2950 & 1.2910 as targets.
Comment: technically the RSI is above its neutrality area at 50.
#USD/JPY Intraday: as long as 109.10 is resistance, look for choppy price action with a bearish bias.
Pivot: 109.10
Most Likely Scenario: short positions below 109.10 with targets at 108.30 & 107.95 in extension.
Alternative scenario: above 109.10 look for further upside with 109.55 & 109.95 as targets.
Comment: as long as 109.10 is resistance, look for choppy price action with a bearish bias.
#AUD/USD Intraday: the RSI is mixed and calls for caution.
Pivot: 0.7975
Most Likely Scenario: long positions above 0.7975 with targets at 0.8030 & 0.8060 in extension.
Alternative scenario: below 0.7975 look for further downside with 0.7955 & 0.7940 as targets.
Comment: the RSI is mixed and calls for caution.
#Gold spot Intraday: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
Pivot: 1332.00
Most Likely Scenario: long positions above 1332.00 with targets at 1350.00 & 1355.00 in extension.
Alternative scenario: below 1332.00 look for further downside with 1326.00 & 1322.00 as targets.
Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
Pivot: 1.1875
Most Likely Scenario: long positions above 1.1875 with targets at 1.1940 & 1.1960 in extension.
Alternative scenario: below 1.1875 look for further downside with 1.1850 & 1.1820 as targets.
Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
#GBP/USD Intraday: technically the RSI is above its neutrality area at 50.
Pivot: 1.2990
Most Likely Scenario: long positions above 1.2990 with targets at 1.3050 & 1.3085 in extension.
Alternative scenario: below 1.2990 look for further downside with 1.2950 & 1.2910 as targets.
Comment: technically the RSI is above its neutrality area at 50.
#USD/JPY Intraday: as long as 109.10 is resistance, look for choppy price action with a bearish bias.
Pivot: 109.10
Most Likely Scenario: short positions below 109.10 with targets at 108.30 & 107.95 in extension.
Alternative scenario: above 109.10 look for further upside with 109.55 & 109.95 as targets.
Comment: as long as 109.10 is resistance, look for choppy price action with a bearish bias.
#AUD/USD Intraday: the RSI is mixed and calls for caution.
Pivot: 0.7975
Most Likely Scenario: long positions above 0.7975 with targets at 0.8030 & 0.8060 in extension.
Alternative scenario: below 0.7975 look for further downside with 0.7955 & 0.7940 as targets.
Comment: the RSI is mixed and calls for caution.
#Gold spot Intraday: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
Pivot: 1332.00
Most Likely Scenario: long positions above 1332.00 with targets at 1350.00 & 1355.00 in extension.
Alternative scenario: below 1332.00 look for further downside with 1326.00 & 1322.00 as targets.
Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
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