Sample Category Title
USD/TRY Key Resistance At 5.3230
Pivot (invalidation): 5.3230
Our preference Short positions below 5.3230 with targets at 5.2900 & 5.2590 in extension.
Alternative scenario Above 5.3230 look for further upside with 5.3500 & 5.3750 as targets.
Comment The upward potential is likely to be limited by the resistance at 5.3230.
AUD/USD Turning Up
Pivot (invalidation): 0.7180
Our preference Long positions above 0.7180 with targets at 0.7245 & 0.7275 in extension.
Alternative scenario Below 0.7180 look for further downside with 0.7160 & 0.7120 as targets.
Comment The RSI calls for a rebound.
USD/CAD Bullish Bias Above 1.3280
Pivot (invalidation): 1.3280
Our preference Long positions above 1.3280 with targets at 1.3335 & 1.3385 in extension.
Alternative scenario Below 1.3280 look for further downside with 1.3245 & 1.3220 as targets.
Comment A support base at 1.3280 has formed and has allowed for a temporary stabilisation.
USD/CHF Target 0.9825
Pivot (invalidation): 0.9920
Our preference Short positions below 0.9920 with targets at 0.9850 & 0.9825 in extension.
Alternative scenario Above 0.9920 look for further upside with 0.9940 & 0.9955 as targets.
Comment The RSI lacks upward momentum.
S&P 500 Bullish Bias Above 2600.00
Pivot (invalidation): 2600.00
Our preference Long positions above 2600.00 with targets at 2682.00 & 2708.00 in extension.
Alternative scenario Below 2600.00 look for further downside with 2583.00 & 2555.00 as targets.
Comment The RSI is bullish and calls for further advance.
DAX Limited Upside
Pivot (invalidation): 10730.00
Our preference Long positions above 10730.00 with targets at 10960.00 & 11060.00 in extension.
Alternative scenario Below 10730.00 look for further downside with 10640.00 & 10520.00 as targets.
Comment A support base at 10730.00 has formed and has allowed for a temporary stabilisation.
Crude Oil Further Advance
Pivot (invalidation): 52.00
Our preference Long positions above 52.00 with targets at 52.90 & 53.40 in extension.
Alternative scenario Below 52.00 look for further downside with 51.50 & 50.80 as targets.
Comment A support base at 52.00 has formed and has allowed for a temporary stabilisation.
Silver Spot Further Advance
Pivot (invalidation): 14.5300
Our preference Long positions above 14.5300 with targets at 14.6600 & 14.7200 in extension.
Alternative scenario Below 14.5300 look for further downside with 14.4800 & 14.4000 as targets.
Comment The RSI is mixed with a bullish bias.
Gold Spot Further Upside
Pivot (invalidation): 1243.75
Our preference Long positions above 1243.75 with targets at 1253.00 & 1257.00 in extension.
Alternative scenario Below 1243.75 look for further downside with 1241.00 & 1237.50 as targets.
Comment The RSI is mixed to bullish.
XAUUSD Intraday Analysis
XAUUSD (1249.15): Gold prices posted strong gains on Friday as price action closed at 1248.53. This led to the resistance level of 1242.25 being breached. In the near term, we expect a rebound back to 1242.25 where the resistance level could now turn to support. As long as prices hold out near this resistance/support level, we can anticipate further gains. However, failure to hold the declines could push gold prices lower. The lower support level at 1227.10 is yet to be tested and remains a key target to the downside
