Forex Technical snapshots

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EUR/USD Intraday: supported by a rising trend line.
Pivot: 1.1850
Our preference: long positions above 1.1850 with targets at 1.1905 & 1.1935 in extension.
Alternative scenario: below 1.1850 look for further downside with 1.1830 & 1.1810 as targets.
Comment: the RSI is mixed to bullish.

GBP/USD Intraday: under pressure.
Pivot: 1.3400
Our preference: short positions below 1.3400 with targets at 1.3350 & 1.3330 in extension.
Alternative scenario: above 1.3400 look for further upside with 1.3420 & 1.3445 as targets.
Comment: the RSI is mixed to bearish.

AUD/USD Intraday: capped by a negative trend line.
Pivot: 0.7680
Our preference: short positions below 0.7680 with targets at 0.7640 & 0.7625 in extension.
Alternative scenario: above 0.7680 look for further upside with 0.7695 & 0.7710 as targets.
Comment: technically the RSI is below its neutrality area at 50.

Gold spot Intraday: the bias remains bullish.
Pivot: 1262.5000
Our preference: long positions above 1262.50 with targets at 1272.00 & 1276.50 in extension.
Alternative scenario: below 1262.50 look for further downside with 1259.50 & 1256.00 as targets.
Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

Silver spot Intraday: bullish bias above 16.1000.
Pivot: 16.1000
Our preference: long positions above 16.1000 with targets at 16.3000 & 16.3500 in extension.
Alternative scenario: below 16.1000 look for further downside with 16.0000 & 15.9200 as targets.
Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

Crude Oil (WTI) (G18) Intraday: supported by a rising trend line.
Pivot: 57.5500
Our preference: long positions above 57.55 with targets at 58.20 & 58.55 in extension.
Alternative scenario: below 57.55 look for further downside with 57.20 & 56.90 as targets.
Comment: the RSI lacks downward momentum.

 

Source: HYCM Broker


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