Daily Technical Analysis

Pipsafe Logo
Share this Post :

Daily Technical Analysis – The U.S. dollar continued rising on Wednesday, recovering from a five-month low against major currencies on expectations of Fed policy normalization after strong business data.

Our Analysis:
Provided that the currency pair is traded below 1.2360, follow the recommendations below:

  • Time frame: D1
  • Recommendation: short position
  • Entry point: 1.2080
  • Take Profit 1: 1.1980
  • Take Profit 2: 1.1830

Alternative scenario:
In case of breakout of the level 1.2360, follow the recommendations below:

  • Time frame: D1
  • Recommendation: long position
  • Entry point: 1.2360 
  • Take Profit 1: 1.2500
  • Take Profit 2: 1.2630

Source: Forex broker PAXFOREX

Daily Technical Analysis – daily pivot point

EUR/USD Intraday: key resistance at 1.2215.

Pivot:
1.2215

Our preference:
Short positions below 1.2215 with targets at 1.2195 & 1.2180 in extension.

Alternative scenario:
Above 1.2215 look for further upside with 1.2225 & 1.2240 as targets.

Comment:
The RSI is mixed to bearish.

EURUSD Chart

GBP/USD Intraday: under pressure.

Pivot:
1.4180

Our preference:
Short positions below 1.4180 with targets at 1.4145 & 1.4130 in extension.

Alternative scenario:
Above 1.4180 look for further upside with 1.4195 & 1.4210 as targets.

Comment:
The RSI is mixed to bearish.

Analyst Views Chart

AUD/USD Intraday: key resistance at 0.7755.

Pivot:
0.7755

Our preference:
Short positions below 0.7755 with targets at 0.7725 & 0.7710 in extension.

Alternative scenario:
Above 0.7755 look for further upside with 0.7770 & 0.7785 as targets.

Comment:
The RSI shows downside momentum.

Analyst Views Chart

Gold Intraday: bullish bias above 1899.00.

Pivot:
1899.00

Our preference:
Long positions above 1899.00 with targets at 1910.00 & 1916.00 in extension.

Alternative scenario:
Below 1899.00 look for further downside with 1892.00 & 1887.00 as targets.

Comment:
The RSI is mixed to bullish.

Analyst Views Chart

Silver spot Intraday: the upside prevails.

Pivot:
27.8800

Our preference:
Long positions above 27.8800 with targets at 28.2300 & 28.5500 in extension.

Alternative scenario:
Below 27.8800 look for further downside with 27.6600 & 27.3800 as targets.

Comment:
The RSI calls for a bounce.

Analyst Views Chart

Crude Oil (WTI)‎ (N1)‎ Intraday: bullish bias above 68.25.

Pivot:
68.25

Our preference:
Long positions above 68.25 with targets at 69.80 & 70.60 in extension.

Alternative scenario:
Below 68.25 look for further downside with 67.80 & 67.40 as targets.

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

FBS Forex Broker Review and open a real account


Categories :
Tags :



LEAVE A COMMENT


Alert Header

Alert Message