Forex Pivot Point – EUR/USD Intraday: bullish bias above 1.1195.
Pivot:
1.1195
Our preference:
long positions above 1.1195 with targets at 1.1220 & 1.1235 in extension.
Alternative scenario:
below 1.1195 look for further downside with 1.1180 & 1.1160 as targets.
Comment:
the RSI is above its neutrality area at 50%.
GBP/USD Intraday: towards 1.2420.
Pivot:
1.2480
Our preference:
short positions below 1.2480 with targets at 1.2440 & 1.2420 in extension.
Alternative scenario:
above 1.2480 look for further upside with 1.2500 & 1.2520 as targets.
Comment:
as long as the resistance at 1.2480 is not surpassed, the risk of the break below 1.2440 remains high.
AUD/USD Intraday: the downside prevails.
Pivot:
0.6940
Our preference:
short positions below 0.6940 with targets at 0.6900 & 0.6885 in extension.
Alternative scenario:
above 0.6940 look for further upside with 0.6955 & 0.6975 as targets.
Comment:
the RSI is bearish and calls for further downside.
Gold spot Intraday: capped by a negative trend line.
Pivot:
1399.00
Our preference:
short positions below 1399.00 with targets at 1387.00 & 1381.50 in extension.
Alternative scenario:
above 1399.00 look for further upside with 1403.50 & 1407.50 as targets.
Comment:
the RSI is bearish and calls for further decline.
Silver spot Intraday: bounce.
Pivot:
15.0200
Our preference:
long positions above 15.0200 with targets at 15.1200 & 15.1800 in extension.
Alternative scenario:
below 15.0200 look for further downside with 14.9500 & 14.8800 as targets.
Comment:
a support base at 15.0200 has formed and has allowed for a temporary stabilisation.
Crude Oil (WTI) (Q9) Intraday: watch 59.45.
Pivot:
58.15
Our preference:
long positions above 58.15 with targets at 59.10 & 59.45 in extension.
Alternative scenario:
below 58.15 look for further downside with 57.75 & 57.40 as targets.
Comment:
the RSI is bullish and calls for further upside. The rising 20-period moving average should push the prices higher.
Source: HYCM Forex Broker
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