Daily Forex Technical Analysis

EUR/USD Intraday: the bias remains bullish.
Pivot: 1.1435

Most Likely Scenario: long positions above 1.1435 with targets at 1.1490 & 1.1515 in extension.

Alternative scenario: below 1.1435 look for further downside with 1.1410 & 1.1380 as targets.

Comment: The pair has broken above a bearish channel resistance.

GBP/USD Intraday: the bias remains bullish.

Pivot: 1.3030

Most Likely Scenario: long positions above 1.3030 with targets at 1.3150 & 1.3210 in extension.

Alternative scenario: below 1.3030 look for further downside with 1.2980 & 1.2950 as targets.

Comment: technically the RSI is above its neutrality area at 50.

USD/JPY Intraday: key resistance at 112.85.

Pivot: 112.85

Most Likely Scenario: short positions below 112.85 with targets at 112.25 & 111.90 in extension.

Alternative scenario: above 112.85 look for further upside with 113.15 & 113.55 as targets.

Comment: the upward potential is likely to be limited by the resistance at 112.85.

AUD/USD Intraday: bullish bias above 0.7765.

Pivot: 0.7765

Most Likely Scenario: long positions above 0.7765 with targets at 0.7850 & 0.7880 in extension.

Alternative scenario: below 0.7765 look for further downside with 0.7735 & 0.7710 as targets.

Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

Gold spot Intraday: the upside prevails.

Pivot: 1223.00

Most Likely Scenario: long positions above 1223.00 with targets at 1236.00 & 1239.00 in extension.

Alternative scenario: below 1223.00 look for further downside with 1219.50 & 1216.00 as targets.

Comment: the RSI broke above a declining trend line

Source: Fxpro Forex Broker