Sample Category Title
GBP/USD Further Upside
Pivot (invalidation): 1.2830
Our preference Long positions above 1.2830 with targets at 1.2885 & 1.2910 in extension.
Alternative scenario Below 1.2830 look for further downside with 1.2800 & 1.2780 as targets.
Comment The RSI advocates for further upside.
EUR/USD The Bias Remains Bullish
Pivot (invalidation): 1.1590
Our preference Long positions above 1.1590 with targets at 1.1675 & 1.1700 in extension.
Alternative scenario Below 1.1590 look for further downside with 1.1555 & 1.1525 as targets.
Comment The RSI is mixed with a bullish bias.
EUR/CHF Watch 1.1445
Pivot (invalidation): 1.1410
Our preference Long positions above 1.1410 with targets at 1.1445 & 1.1460 in extension.
Alternative scenario Below 1.1410 look for further downside with 1.1390 & 1.1370 as targets.
Comment The RSI is mixed with a bullish bias.
EUR/GBP Bullish Bias Above 0.9030
Pivot (invalidation): 0.9030
Our preference Long positions above 0.9030 with targets at 0.9070 & 0.9095 in extension.
Alternative scenario Below 0.9030 look for further downside with 0.9000 & 0.8985 as targets.
Comment The RSI is mixed to bullish.
Crude Oil Consolidation
Pivot (invalidation): 68.90
Our preference Short positions below 68.90 with targets at 68.25 & 67.95 in extension.
Alternative scenario Above 68.90 look for further upside with 69.30 & 69.65 as targets.
Comment As Long as 68.90 is resistance, look for choppy price action with a bearish bias.
Silver Spot The Bias Remains Bullish
Pivot (invalidation): 14.7100
Our preference Long positions above 14.7100 with targets at 14.9800 & 15.0700 in extension.
Alternative scenario Below 14.7100 look for further downside with 14.6000 & 14.5000 as targets.
Comment The RSI is mixed to bullish.
Gold Spot Bullish Bias Above 1201.50
Pivot (invalidation): 1201.50
Our preference Long positions above 1201.50 with targets at 1213.00 & 1217.00 in extension.
Alternative scenario Below 1201.50 look for further downside with 1196.50 & 1192.50 as targets.
Comment The RSI is mixed to bullish.
Bitcoin/Dollar Look For 6760
Pivot (invalidation): 6630
Our preference Long positions above 6630 with targets at 6760 & 6805 in extension.
Alternative scenario Below 6630 look for further downside with 6585 & 6485 as targets.
Comment The RSI is mixed with a bullish bias.
XAUUSD Intraday Analysis
XAUUSD (1206.36): Gold prices closed with a strong bullish engulfing pattern on Friday. Price action was seen closing at 1206.00 as a result. However, the daily chart signals a divergence to the Stochastics which could indicate a near-term consolidation. On the 4-hour chart, gold prices breached the outer trend line of the falling price channel. This indicates a potential retracement ahead of further gains. Watch for a higher low to form as gold prices could be seen targeting the next main resistance level at 1219.75.
GBPUSD Intraday Analysis
GBPUSD (1.2855): The GBPUSD currency pair closed bullish last week. The gains came following a doji reversal pattern formed the week before near 1.2740 area. This indicates a potential move to the upside for the GBPUSD. On the 4-hour chart, price action is seen trading alongside the upper trend line of the falling price channel. With the Stochastics showing weak momentum, we expect to see some downside prevail. Watch for GBPUSD to form a potential higher low ahead of further gains. The currency pair could be seen targeting the resistance level at 1.3205.
