Technical Analysis EUR/USD Intraday: key resistance at 1.2205.
- Pivot:
1.2205 - Our preference:
Short positions below 1.2205 with targets at 1.2175 & 1.2160 in extension. - Alternative scenario:Above 1.2205 look for further upside with 1.2220 & 1.2240 as targets.
- Comment:As long as the resistance at 1.2205 is not surpassed, the risk of the break below 1.2175 remains high.
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GBP/USD Intraday: under pressure.
- Pivot:
1.4135 - Our preference:
Short positions below 1.4135 with targets at 1.4090 & 1.4070 in extension. - Alternative scenario:Above 1.4135 look for further upside with 1.4155 & 1.4175 as targets.
- Comment:
The RSI is mixed to bearish.
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AUD/USD Intraday: under pressure.
- Pivot:
0.7755 - Our preference:
Short positions below 0.7755 with targets at 0.7720 & 0.7705 in extension. - Alternative scenario:Above 0.7755 look for further upside with 0.7770 & 0.7785 as targets.
- Comment:
The RSI is mixed to bearish.
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Gold Intraday: key resistance at 1905.00.
- Pivot:
1905.00 - Our preference:
Short positions below 1905.00 with targets at 1889.00 & 1879.00 in extension. - Alternative scenario:Above 1905.00 look for further upside with 1912.00 & 1920.00 as targets.
- Comment:As long as 1905.00 is resistance, look for choppy price action with a bearish bias.
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Silver spot Intraday: key resistance at 27.9200.
- Pivot:
27.9200 - Our preference:
Short positions below 27.9200 with targets at 27.4400 & 27.1800 in extension. - Alternative scenario:Above 27.9200 look for further upside with 28.2300 & 28.4400 as targets.
- Comment:
The RSI has just struck against its neutrality area at 50%.
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Oil Daily Analysis – Daily Pivot Point
Crude Oil (WTI) (N1) Intraday: the bias remains bullish.
- Pivot:
65.25 - Our preference:
Long positions above 65.25 with targets at 66.50 & 67.30 in extension. - Alternative scenario:Below 65.25 look for further downside with 64.45 & 63.85 as targets.
- Comment:The immediate trend remains up but the momentum is weak.
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Trading Analysis of USD/CHF
Last weekend the head of the Swiss Central Bank said in an interview for the national publication Neue Zuercher Zeitung:The large size of the balance sheet is not a problem in itself;
It could even be increased further if necessary;
The Swiss franc remains highly overvalued;
Inflation is only slightly above zero;
Production capacity in Switzerland is not fully utilized;
It would be “completely premature” to make adjustments to the current easing policy of the central bank (start to reduce the size of the balance sheet and tighten monetary policy);
It would be wrong to send the message to the world that the SNB would be the first central bank in the world to think about policy tightening.
Our Analysis:
Provided that the currency pair is traded above 0.8955, follow the recommendations below:
- Time frame: 30 min
- Recommendation: long position
- Entry point: 0.8974
- Take Profit 1: 0.8985
- Take Profit 2: 0.9000
Alternative scenario:In case of breakdown of the level 0.8955, follow the recommendations below:
- Time frame: 30 min
- Recommendation: short position
- Entry point: 0.8955
- Take Profit 1: 0.8940
- Take Profit 2: 0.8925
Categories :
Tags : Technical analysis
