Daily Forex Analysis (2015.12.01)

Source: FxPro Forex Broker  (FX REBATE UP TO 85%)

EUR/USD Intraday: under pressure.

Pivot: 1.061

Most Likely Scenario: Short positions below 1.061 with targets @ 1.0555 & 1.052 in extension.

Alternative scenario: Above 1.061 look for further upside with 1.064 & 1.068 as targets.

Comment: As long as 1.061 is resistance, look for choppy price action with a bearish bias.

EUR/USD Chart

GBP/USD Intraday: the upside prevails.

Pivot: 1.5045

Most Likely Scenario: Long positions above 1.5045 with targets @ 1.5105 & 1.5135 in extension.

Alternative scenario: Below 1.5045 look for further downside with 1.503 & 1.501 as targets.

Comment: The RSI is well directed.

GBP/USD Chart

USD/JPY Intraday: choppy.

Pivot: 123.1

Most Likely Scenario: Short positions below 123.1 with targets @ 122.65 & 122.5 in extension.

Alternative scenario: Above 123.1 look for further upside with 123.35 & 123.6 as targets.

Comment: As long as the resistance at 123.1 is not surpassed, the risk of the break below 122.65 remains high.

USD/JPY Chart

AUD/USD Intraday: the upside prevails.

Pivot: 0.722

Most Likely Scenario: Long positions above 0.722 with targets @ 0.7285 & 0.7305 in extension.

Alternative scenario: Below 0.722 look for further downside with 0.7195 & 0.717 as targets.

Comment: The RSI is bullish and calls for further upside.

AUD/USD Chart