Sample Category Title
USD/JPY The Upside Prevails
Pivot (invalidation): 111.70
Our preference Long positions above 111.70 with targets at 112.10 & 112.40 in extension.
Alternative scenario Below 111.70 look for further downside with 111.35 & 111.00 as targets.
Comment The RSI shows upside momentum.
GBP/USD The Upside Prevails
Pivot (invalidation): 1.2810
Our preference Long positions above 1.2810 with targets at 1.2865 & 1.2895 in extension.
Alternative scenario Below 1.2810 look for further downside with 1.2775 & 1.2750 as targets.
Comment The RSI shows upside momentum.
EUR/USD Intraday Support Around 1.1380
Pivot (invalidation): 1.1380
Our preference Long positions above 1.1380 with targets at 1.1420 & 1.1445 in extension.
Alternative scenario Below 1.1380 look for further downside with 1.1355 & 1.1335 as targets.
Comment A support base at 1.1380 has formed and has allowed for a temporary stabilisation.
S&P 500 The Downside Prevails
Pivot (invalidation): 2692.00
Our preference Short positions below 2692.00 with targets at 2615.00 & 2590.00 in extension.
Alternative scenario Above 2692.00 look for further upside with 2723.00 & 2755.00 as targets.
Comment As Long as 2692.00 is resistance, expect a return to 2615.00.
DAX Caution
Pivot (invalidation): 11230.00
Our preference Short positions below 11230.00 with targets at 11050.00 & 10940.00 in extension.
Alternative scenario Above 11230.00 look for further upside with 11305.00 & 11390.00 as targets.
Comment Intraday technical indicators are mixed and call for caution.
Crude Oil The Bias Remains Bullish
Pivot (invalidation): 66.95
Our preference Long positions above 66.95 with targets at 68.50 & 68.90 in extension.
Alternative scenario Below 66.95 look for further downside with 66.65 & 66.20 as targets.
Comment The RSI is mixed to bullish. The prices are trading around the 20-period moving average.
Silver Spot Range
Pivot (invalidation): 14.6400
Our preference Long positions above 14.6400 with targets at 14.7300 & 14.7800 in extension.
Alternative scenario Below 14.6400 look for further downside with 14.5700 & 14.5200 as targets.
Comment The next resistances are at 14.7300 and then at 14.7800.
Gold Spot Consolidation
Pivot (invalidation): 1236.00
Our preference Short positions below 1236.00 with targets at 1231.50 & 1228.00 in extension.
Alternative scenario Above 1236.00 look for further upside with 1240.00 & 1243.50 as targets.
Comment As Long as 1236.00 is resistance, expect a return to 1231.50.
XAUUSD Intraday Analysis
XAUUSD (1232.68): Gold prices rallied to the resistance area of 1242.25 - 1238.00 level on Friday before easing back. The strong selling at this level pushed gold prices lower, but the consolidation within the rising wedge pattern remains. We expect to see a potential downside breakout in gold. A close below 1225.35 support level could trigger a decline to 1207.00 level. To the upside, gold prices will need to break past the resistance area to post any further gains.
GBPUSD Intraday Analysis
GBPUSD (1.2833): The British pound was seen trading rather muted on Friday. After price action tested the support level of 1.2808, the GBPUSD has been trading flat here. There is a risk that the currency pair could break down below this support level. However, from the daily chart, the GBPUSD is currently trading near the support area of 1.2808 - 1.2683. Therefore, the declines are likely to be limited
