Forex Serbia D. T. A.

EUR/USD Intraday: under pressure.
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Pivot: 1.1975
Most Likely Scenario: short positions below 1.1975 with targets at 1.1915 & 1.1885 in extension.
Alternative scenario: above 1.1975 look for further upside with 1.2000 & 1.2020 as targets.
Comment: the RSI is mixed to bearish.

GBP/USD Intraday: under pressure.
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Pivot: 1.3520
Most Likely Scenario: short positions below 1.3520 with targets at 1.3470 & 1.3455 in extension.
Alternative scenario: above 1.3520 look for further upside with 1.3540 & 1.3560 as targets.
Comment: the RSI lacks upward momentum.

USD/JPY Intraday: the upside prevails.
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Pivot: 111.45
Most Likely Scenario: long positions above 111.45 with targets at 111.90 & 112.15 in extension.
Alternative scenario: below 111.45 look for further downside with 111.25 & 111.00 as targets.
Comment: the RSI shows upside momentum.

AUD/USD Intraday: the upside prevails.
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Pivot: 0.7850
Most Likely Scenario: long positions above 0.7850 with targets at 0.7885 & 0.7905 in extension.
Alternative scenario: below 0.7850 look for further downside with 0.7835 & 0.7820 as targets.
Comment: the RSI shows upside momentum.

Gold spot Intraday: caution.
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Pivot: 1315.00
Most Likely Scenario: long positions above 1315.00 with targets at 1321.00 & 1323.50 in extension.
Alternative scenario: below 1315.00 look for further downside with 1308.00 & 1305.00 as targets.
Comment: the RSI is mixed and calls for caution. Prices broke above a falling channel.

Crude Oil (WTI) (G18) Intraday: the bias remains bullish.
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Pivot: 62.85
Most Likely Scenario: long positions above 62.85 with targets at 63.70 & 64.00 in extension.
Alternative scenario: below 62.85 look for further downside with 62.30 & 61.80 as targets.
Comment: the RSI lacks downward momentum.

EUR/USD Intraday: under pressure.
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Pivot: 1.1975
Most Likely Scenario: short positions below 1.1975 with targets at 1.1940 & 1.1915 in extension.
Alternative scenario: above 1.1975 look for further upside with 1.2000 & 1.2020 as targets.
Comment: the RSI is mixed to bearish.

GBP/USD Intraday: under pressure.
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Pivot: 1.3540
Most Likely Scenario: short positions below 1.3540 with targets at 1.3480 & 1.3455 in extension.
Alternative scenario: above 1.3540 look for further upside with 1.3560 & 1.3580 as targets.
Comment: the RSI shows downside momentum.

USD/JPY Intraday: rebound.
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Pivot: 111.25
Most Likely Scenario: long positions above 111.25 with targets at 112.15 & 112.40 in extension.
Alternative scenario: below 111.25 look for further downside with 111.00 & 110.55 as targets.
Comment: the RSI has just broken above a declining trend line.

AUD/USD Intraday: the upside prevails.
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Pivot: 0.7835
Most Likely Scenario: long positions above 0.7835 with targets at 0.7885 & 0.7905 in extension.
Alternative scenario: below 0.7835 look for further downside with 0.7805 & 0.7785 as targets.
Comment: the RSI shows upside momentum.

Gold spot Intraday: bullish bias above 1315.00.
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Pivot: 1315.00
Most Likely Scenario: long positions above 1315.00 with targets at 1323.50 & 1328.00 in extension.
Alternative scenario: below 1315.00 look for further downside with 1308.00 & 1305.00 as targets.
Comment: a support base at 1315.00 has formed and has allowed for a temporary stabilisation. Prices broke above a falling channel.

Crude Oil (WTI) (G18) Intraday: bullish bias above 62.85.
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Pivot: 62.85
Most Likely Scenario: long positions above 62.85 with targets at 63.70 & 64.00 in extension.
Alternative scenario: below 62.85 look for further downside with 62.30 & 61.80 as targets.
Comment: the RSI lacks downward momentum.

EUR/USD Intraday: key resistance at 1.2000.
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Pivot: 1.2000
Most Likely Scenario: short positions below 1.2000 with targets at 1.1935 & 1.1910 in extension.
Alternative scenario: above 1.2000 look for further upside with 1.2020 & 1.2050 as targets.
Comment: the RSI shows downside momentum.

GBP/USD Intraday: key resistance at 1.3585.
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Pivot: 1.3585
Most Likely Scenario: short positions below 1.3585 with targets at 1.3550 & 1.3520 in extension.
Alternative scenario: above 1.3585 look for further upside with 1.3615 & 1.3650 as targets.
Comment: the upward potential is likely to be limited by the resistance at 1.3585.

USD/JPY Intraday: under pressure.
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Pivot: 112.95
Most Likely Scenario: short positions below 112.95 with targets at 112.45 & 112.20 in extension.
Alternative scenario: above 112.95 look for further upside with 113.20 & 113.40 as targets.
Comment: the RSI shows downside momentum.

AUD/USD Intraday: continuation of the rebound.
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Pivot: 0.7840
Most Likely Scenario: long positions above 0.7840 with targets at 0.7875 & 0.7895 in extension.
Alternative scenario: below 0.7840 look for further downside with 0.7825 & 0.7810 as targets.
Comment: the RSI shows upside momentum.

Gold spot Intraday: rebound in sight.
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Pivot: 1313.50
Most Likely Scenario: long positions above 1313.50 with targets at 1322.00 & 1326.00 in extension.
Alternative scenario: below 1313.50 look for further downside with 1310.00 & 1306.00 as targets.
Comment: the RSI is mixed with a bullish bias.

Crude Oil (WTI) (G18) Intraday: the bias remains bullish.
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Pivot: 61.65
Most Likely Scenario: long positions above 61.65 with targets at 62.55 & 63.00 in extension.
Alternative scenario: below 61.65 look for further downside with 61.10 & 60.70 as targets.
Comment: the RSI is supported by a bullish trend line. Both rising 20-period and 50-period moving averages maintain the upside bias.

EUR/USD Intraday: under pressure.
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Pivot: 1.2060
Most Likely Scenario: short positions below 1.2060 with targets at 1.2000 & 1.1970 in extension.
Alternative scenario: above 1.2060 look for further upside with 1.2090 & 1.2115 as targets.
Comment: the RSI shows downside momentum.

GBP/USD Intraday: the upside prevails.
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Pivot: 1.3540
Most Likely Scenario: long positions above 1.3540 with targets at 1.3585 & 1.3615 in extension.
Alternative scenario: below 1.3540 look for further downside with 1.3520 & 1.3495 as targets.
Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

USD/JPY Intraday: the bias remains bullish.
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Pivot: 112.85
Most Likely Scenario: long positions above 112.85 with targets at 113.60 & 113.75 in extension.
Alternative scenario: below 112.85 look for further downside with 112.50 & 112.15 as targets.
Comment: the RSI shows upside momentum.

AUD/USD Intraday: turning down.
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Pivot: 0.7875
Most Likely Scenario: short positions below 0.7875 with targets at 0.7820 & 0.7800 in extension.
Alternative scenario: above 0.7875 look for further upside with 0.7895 & 0.7910 as targets.
Comment: the RSI shows downside momentum.

Gold spot Intraday: bullish bias above 1313.50.
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Pivot: 1313.50
Most Likely Scenario: long positions above 1313.50 with targets at 1322.00 & 1326.00 in extension.
Alternative scenario: below 1313.50 look for further downside with 1306.00 & 1301.50 as targets.
Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

Crude Oil (WTI) (G18) Intraday: rebound expected.
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Pivot: 61.10
Most Likely Scenario: long positions above 61.10 with targets at 61.85 & 62.20 in extension.
Alternative scenario: below 61.10 look for further downside with 60.75 & 60.30 as targets.
Comment: the RSI broke above a declining trend line. The 20-period moving average turned up and crossed above the 50-period one. The downside potential should be limited by the key support at 61.1.

EUR/USD Intraday: break of a ST rising trendline support.
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Pivot: 1.1880
Most Likely Scenario: short positions below 1.1880 with targets at 1.1815 & 1.1790 in extension.
Alternative scenario: above 1.1880 look for further upside with 1.1905 & 1.1935 as targets.
Comment: as long as the resistance at 1.1880 is not surpassed, the risk of the break below 1.1815 remains high.

GBP/USD Intraday: intraday support around 1.3355.
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Pivot: 1.3355
Most Likely Scenario: long positions above 1.3355 with targets at 1.3400 & 1.3420 in extension.
Alternative scenario: below 1.3355 look for further downside with 1.3330 & 1.3300 as targets.
Comment: the RSI is supported by a bullish trend line.

USD/JPY Intraday: bullish bias above 113.25.
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Pivot: 113.25
Most Likely Scenario: long positions above 113.25 with targets at 113.65 & 113.85 in extension.
Alternative scenario: below 113.25 look for further downside with 113.05 & 112.80 as targets.
Comment: The pair is trading in a bullish channel.

AUD/USD Intraday: further advance.
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Pivot: 0.7695
Most Likely Scenario: long positions above 0.7695 with targets at 0.7730 & 0.7750 in extension.
Alternative scenario: below 0.7695 look for further downside with 0.7680 & 0.7650 as targets.
Comment: the break above 0.7695 is a positive signal that has opened a path to 0.7730.

Gold spot Intraday: further upside.
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Pivot: 1262.50
Most Likely Scenario: long positions above 1262.50 with targets at 1269.00 & 1272.00 in extension.
Alternative scenario: below 1262.50 look for further downside with 1259.50 & 1256.00 as targets.
Comment: the RSI is bullish and calls for further upside.

Crude Oil (WTI) (G18) Intraday: bullish bias above 57.80.
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Pivot: 57.80
Most Likely Scenario: long positions above 57.80 with targets at 58.55 & 58.95 in extension.
Alternative scenario: below 57.80 look for further downside with 57.55 & 57.20 as targets.
Comment: the RSI lacks downward momentum. The rising 50-period moving average is playing a support role.

EUR/USD Intraday: supported by a rising trend line.
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Pivot: 1.1850
Most Likely Scenario: 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.
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Pivot: 1.3400
Most Likely Scenario: 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.

USD/JPY Intraday: the bias remains bullish.
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Pivot: 113.05
Most Likely Scenario: long positions above 113.05 with targets at 113.55 & 113.85 in extension.
Alternative scenario: below 113.05 look for further downside with 112.80 & 112.50 as targets.
Comment: the RSI is mixed to bullish.

AUD/USD Intraday: capped by a negative trend line.
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Pivot: 0.7680
Most Likely Scenario: 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.
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Pivot: 1262.50
Most Likely Scenario: 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.

Crude Oil (WTI) (G18) Intraday: supported by a rising trend line.
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Pivot: 57.55
Most Likely Scenario: 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.

EUR/USD Intraday: supported by a rising trend line.
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Pivot: 1.1810
Most Likely Scenario: long positions above 1.1810 with targets at 1.1865 & 1.1885 in extension.
Alternative scenario: below 1.1810 look for further downside with 1.1790 & 1.1775 as targets.
Comment: the RSI shows upside momentum.

GBP/USD Intraday: the bias remains bullish.
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Pivot: 1.3370
Most Likely Scenario: long positions above 1.3370 with targets at 1.3420 & 1.3445 in extension.
Alternative scenario: below 1.3370 look for further downside with 1.3330 & 1.3300 as targets.
Comment: technically the RSI is above its neutrality area at 50.

USD/JPY Intraday: intraday support around 112.75.
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Pivot: 112.75
Most Likely Scenario: long positions above 112.75 with targets at 113.10 & 113.30 in extension.
Alternative scenario: below 112.75 look for further downside with 112.50 & 112.30 as targets.
Comment: the RSI shows upside momentum.

AUD/USD Intraday: consolidation.
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Pivot: 0.7680
Most Likely Scenario: short positions below 0.7680 with targets at 0.7640 & 0.7615 in extension.
Alternative scenario: above 0.7680 look for further upside with 0.7695 & 0.7720 as targets.
Comment: the RSI lacks upward momentum.

Gold spot Intraday: bullish bias above 1256.50.
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Pivot: 1256.50
Most Likely Scenario: long positions above 1256.50 with targets at 1267.00 & 1272.00 in extension.
Alternative scenario: below 1256.50 look for further downside with 1250.50 & 1245.00 as targets.
Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

Crude Oil (WTI) (G18) Intraday: the upside prevails.
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Pivot: 57.20
Most Likely Scenario: long positions above 57.20 with targets at 58.15 & 58.55 in extension.
Alternative scenario: below 57.20 look for further downside with 56.90 & 56.45 as targets.
Comment: the RSI advocates for further upside. The prices are supported by a rising trend line. Both ascending 20-period and 50-period moving averages maintain the upside bias.

EUR/USD Intraday: the bias remains bullish.
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Pivot: 1.1760
Most Likely Scenario: long positions above 1.1760 with targets at 1.1810 & 1.1835 in extension.
Alternative scenario: below 1.1760 look for further downside with 1.1740 & 1.1715 as targets.
Comment: the RSI has just landed on its neutrality area at 50% and is turning up.

GBP/USD Intraday: rebound.
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Pivot: 1.3360
Most Likely Scenario: long positions above 1.3360 with targets at 1.3420 & 1.3445 in extension.
Alternative scenario: below 1.3360 look for further downside with 1.3330 & 1.3300 as targets.
Comment: the RSI is mixed to bullish.

USD/JPY Intraday: under pressure.
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Pivot: 112.75
Most Likely Scenario: short positions below 112.75 with targets at 112.30 & 112.05 in extension.
Alternative scenario: above 112.75 look for further upside with 113.00 & 113.25 as targets.
Comment: the upward potential is likely to be limited by the resistance at 112.75.

AUD/USD Intraday: bullish bias above 0.7650.
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Pivot: 0.7650
Most Likely Scenario: long positions above 0.7650 with targets at 0.7680 & 0.7695 in extension.
Alternative scenario: below 0.7650 look for further downside with 0.7635 & 0.7615 as targets.
Comment: a support base at 0.7650 has formed and has allowed for a temporary stabilisation.

Gold spot Intraday: supported by a rising trend line.
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Pivot: 1256.50
Most Likely Scenario: long positions above 1256.50 with targets at 1267.00 & 1272.00 in extension.
Alternative scenario: below 1256.50 look for further downside with 1250.50 & 1245.00 as targets.
Comment: the RSI advocates for further upside.

Crude Oil (WTI) (F18) Intraday: key resistance at 57.60.
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Pivot: 57.60
Most Likely Scenario: short positions below 57.60 with targets at 56.80 & 56.45 in extension.
Alternative scenario: above 57.60 look for further upside with 57.85 & 58.15 as targets.
Comment: the RSI lacks upward momentum. Crude oil broke below the broadening wedge. The declining 50-period moving average play a resistance role.

EUR/USD Intraday: under pressure.
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Pivot: 1.1785
Most Likely Scenario: short positions below 1.1785 with targets at 1.1735 & 1.1715 in extension.
Alternative scenario: above 1.1785 look for further upside with 1.1810 & 1.1845 as targets.
Comment: as long as the resistance at 1.1785 is not surpassed, the risk of the break below 1.1735 remains high.

GBP/USD Intraday: consolidation.
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Pivot: 1.3350
Most Likely Scenario: short positions below 1.3350 with targets at 1.3300 & 1.3265 in extension.
Alternative scenario: above 1.3350 look for further upside with 1.3390 & 1.3420 as targets.
Comment: the upward potential is likely to be limited by the resistance at 1.3350.

USD/JPY Intraday: the bias remains bullish.
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Pivot: 112.40
Most Likely Scenario: long positions above 112.40 with targets at 112.90 & 113.15 in extension.
Alternative scenario: below 112.40 look for further downside with 112.05 & 111.70 as targets.
Comment: technically the RSI is above its neutrality area at 50.

AUD/USD Intraday: under pressure.
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Pivot: 0.7675
Most Likely Scenario: short positions below 0.7675 with targets at 0.7635 & 0.7615 in extension.
Alternative scenario: above 0.7675 look for further upside with 0.7695 & 0.7720 as targets.
Comment: even though a continuation of the technical rebound cannot be ruled out, its extent should be limited.

Gold spot Intraday: bullish bias above 1250.50.
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Pivot: 1250.50
Most Likely Scenario: long positions above 1250.50 with targets at 1262.00 & 1267.00 in extension.
Alternative scenario: below 1250.50 look for further downside with 1245.00 & 1240.00 as targets.
Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

Crude Oil (WTI) (F18) Intraday: further upside.
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Pivot: 57.00
Most Likely Scenario: long positions above 57.00 with targets at 57.85 & 58.15 in extension.
Alternative scenario: below 57.00 look for further downside with 56.65 & 56.10 as targets.
Comment: the RSI lacks downward momentum. Both rising 20-period and 50-period moving averages maintain the bullish outlook. The downside potential should be limited by the key support at 57.

EUR/USD Intraday: key resistance at 1.1810.
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Green Lines Represent Resistance | Red Represent Support Levels | Light Blue is a Pivot Point |  Black represents the price when the report was produced

• Pivot: 1.1810
  
• Most Likely Scenario: short positions below 1.1810 with targets at 1.1760 & 1.1730 in extension.
  
• Alternative scenario: above 1.1810 look for further upside with 1.1845 & 1.1875 as targets.
  
• Comment: as long as the resistance at 1.1810 is not surpassed, the risk of the break below 1.1760 remains high.
  

GBP/USD Intraday: the bias remains bullish.
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Green Lines Represent Resistance | Red Represent Support Levels | Light Blue is a Pivot Point |  Black represents the price when the report was produced

• Pivot: 1.3395
  
• Most Likely Scenario: long positions above 1.3395 with targets at 1.3450 & 1.3480 in extension.
  
• Alternative scenario: below 1.3395 look for further downside with 1.3370 & 1.3345 as targets.
  
• Comment: the RSI lacks downward momentum.
  

USD/JPY Intraday: the downside prevails.
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Green Lines Represent Resistance | Red Represent Support Levels | Light Blue is a Pivot Point |  Black represents the price when the report was produced

• Pivot: 112.45
  
• Most Likely Scenario: short positions below 112.45 with targets at 111.70 & 111.40 in extension.
  
• Alternative scenario: above 112.45 look for further upside with 112.90 & 113.15 as targets.
  
• Comment: the RSI shows downside momentum.
  

AUD/USD Intraday: the bias remains bullish.
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Green Lines Represent Resistance | Red Represent Support Levels | Light Blue is a Pivot Point |  Black represents the price when the report was produced

• Pivot: 0.7650
  
• Most Likely Scenario: long positions above 0.7650 with targets at 0.7720 & 0.7750 in extension.
  
• Alternative scenario: below 0.7650 look for further downside with 0.7625 & 0.7600 as targets.
  
• Comment: the RSI is mixed to bullish.
  

Gold spot Intraday: further advance.
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Green Lines Represent Resistance | Red Represent Support Levels | Light Blue is a Pivot Point |  Black represents the price when the report was produced

• Pivot: 1250.50
  
• Most Likely Scenario: long positions above 1250.50 with targets at 1262.00 & 1267.00 in extension.
  
• Alternative scenario: below 1250.50 look for further downside with 1245.00 & 1240.00 as targets.
  
• Comment: the RSI is supported by a bullish trend line.
  

Crude Oil (WTI) (F18) Intraday: further upside.
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Green Lines Represent Resistance | Red Represent Support Levels | Light Blue is a Pivot Point |  Black represents the price when the report was produced

• Pivot: 56.65
  
• Most Likely Scenario: long positions above 56.65 with targets at 57.85 & 58.15 in extension.
  
• Alternative scenario: below 56.65 look for further downside with 56.10 & 55.80 as targets.
  
• Comment: the RSI advocates for further upside.
  

EUR/USD Intraday: under pressure.
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Pivot: 1.1810
Most Likely Scenario: short positions below 1.1810 with targets at 1.1760 & 1.1730 in extension.
Alternative scenario: above 1.1810 look for further upside with 1.1845 & 1.1875 as targets.
Comment: as long as the resistance at 1.1810 is not surpassed, the risk of the break below 1.1760 remains high.

GBP/USD Intraday: the bias remains bullish.
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Pivot: 1.3395
Most Likely Scenario: long positions above 1.3395 with targets at 1.3450 & 1.3480 in extension.
Alternative scenario: below 1.3395 look for further downside with 1.3370 & 1.3345 as targets.
Comment: the RSI shows upside momentum.

USD/JPY Intraday: the downside prevails.
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Pivot: 112.60
Most Likely Scenario: short positions below 112.60 with targets at 112.00 & 111.70 in extension.
Alternative scenario: above 112.60 look for further upside with 112.90 & 113.15 as targets.
Comment: the RSI shows downside momentum.

AUD/USD Intraday: the upside prevails.
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Pivot: 0.7650
Most Likely Scenario: long positions above 0.7650 with targets at 0.7685 & 0.7720 in extension.
Alternative scenario: below 0.7650 look for further downside with 0.7625 & 0.7600 as targets.
Comment: a support base at 0.7650 has formed and has allowed for a temporary stabilisation.

Gold spot Intraday: bullish bias above 1250.50.
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Pivot: 1250.50
Most Likely Scenario: long positions above 1250.50 with targets at 1258.00 & 1262.00 in extension.
Alternative scenario: below 1250.50 look for further downside with 1245.00 & 1240.00 as targets.
Comment: the RSI is supported by a bullish trend line.

Crude Oil (WTI) (F18) Intraday: rebound expected.
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Pivot: 56.45
Most Likely Scenario: long positions above 56.45 with targets at 57.40 & 57.85 in extension.
Alternative scenario: below 56.45 look for further downside with 56.10 & 55.80 as targets.
Comment: the RSI is mixed with a bullish bias. The prices broke above the declining trend line. The 20-period moving average crossed above the 50-period one.

EUR/USD Intraday: the upside prevails.
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Pivot: 1.1795
Most Likely Scenario: long positions above 1.1795 with targets at 1.1860 & 1.1900 in extension.
Alternative scenario: below 1.1795 look for further downside with 1.1760 & 1.1730 as targets.
Comment: the RSI shows upside momentum.

GBP/USD Intraday: the bias remains bullish.
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Pivot: 1.3370
Most Likely Scenario: long positions above 1.3370 with targets at 1.3455 & 1.3480 in extension.
Alternative scenario: below 1.3370 look for further downside with 1.3345 & 1.3300 as targets.
Comment: the RSI is bullish and calls for further upside.

USD/JPY Intraday: under pressure.
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Pivot: 113.15
Most Likely Scenario: short positions below 113.15 with targets at 112.40 & 112.10 in extension.
Alternative scenario: above 113.15 look for further upside with 113.45 & 113.75 as targets.
Comment: the RSI is mixed to bearish.

AUD/USD Intraday: the bias remains bullish.
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Pivot: 0.7615
Most Likely Scenario: long positions above 0.7615 with targets at 0.7685 & 0.7720 in extension.
Alternative scenario: below 0.7615 look for further downside with 0.7580 & 0.7550 as targets.
Comment: the RSI shows upside momentum.

Gold spot Intraday: further upside.
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Pivot: 1251.50
Most Likely Scenario: long positions above 1251.50 with targets at 1260.00 & 1265.00 in extension.
Alternative scenario: below 1251.50 look for further downside with 1245.00 & 1240.00 as targets.
Comment: the RSI is bullish and calls for further advance.

Crude Oil (WTI) (F8) Intraday: under pressure.
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Pivot: 57.05
Most Likely Scenario: short positions below 57.05 with targets at 56.15 & 55.80 in extension.
Alternative scenario: above 57.05 look for further upside with 57.55 & 58.05 as targets.
Comment: the RSI advocates for further decline. Both declining 20-period and 50-period moving averages maintain the negative outlook.

EUR/USD Intraday: capped by a negative trend line.
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Pivot: 1.1770
Most Likely Scenario: short positions below 1.1770 with targets at 1.1735 & 1.1715 in extension.
Alternative scenario: above 1.1770 look for further upside with 1.1790 & 1.1810 as targets.
Comment: the RSI lacks upward momentum.

GBP/USD Intraday: under pressure.
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Pivot: 1.3350
Most Likely Scenario: short positions below 1.3350 with targets at 1.3300 & 1.3270 in extension.
Alternative scenario: above 1.3350 look for further upside with 1.3375 & 1.3400 as targets.
Comment: as long as the resistance at 1.3350 is not surpassed, the risk of the break below 1.3300 remains high.

USD/JPY Intraday: under pressure.
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Pivot: 113.55
Most Likely Scenario: short positions below 113.55 with targets at 113.10 & 112.80 in extension.
Alternative scenario: above 113.55 look for further upside with 113.75 & 114.00 as targets.
Comment: the RSI is mixed to bearish.

AUD/USD Intraday: further advance.
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Pivot: 0.7540
Most Likely Scenario: long positions above 0.7540 with targets at 0.7595 & 0.7615 in extension.
Alternative scenario: below 0.7540 look for further downside with 0.7515 & 0.7500 as targets.
Comment: the RSI shows upside momentum.

Gold spot Intraday: caution.
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Pivot: 1246.00
Most Likely Scenario: short positions below 1246.00 with targets at 1238.50 & 1235.50 in extension.
Alternative scenario: above 1246.00 look for further upside with 1251.50 & 1256.00 as targets.
Comment: the RSI is mixed and calls for caution.

Crude Oil (WTI) (F8) Intraday: break of a ST rising trendline support.
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Pivot: 57.65
Most Likely Scenario: short positions below 57.65 with targets at 57.10 & 56.85 in extension.
Alternative scenario: above 57.65 look for further upside with 58.05 & 58.55 as targets.
Comment: technically the RSI is below its neutrality area at 50. The 50-period moving average is still declining and should push the prices lower. The upside potential should be limited by the key resistance at 57.65.

EUR/USD Intraday: intraday support around 1.1760.
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Pivot: 1.1760
Most Likely Scenario: long positions above 1.1760 with targets at 1.1785 & 1.1810 in extension.
Alternative scenario: below 1.1760 look for further downside with 1.1745 & 1.1730 as targets.
Comment: a support base at 1.1760 has formed and has allowed for a temporary stabilisation.

GBP/USD Intraday: under pressure.
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Pivot: 1.3375
Most Likely Scenario: short positions below 1.3375 with targets at 1.3330 & 1.3300 in extension.
Alternative scenario: above 1.3375 look for further upside with 1.3400 & 1.3435 as targets.
Comment: the RSI lacks upward momentum.

USD/JPY Intraday: key resistance at 113.70.
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Pivot: 113.70
Most Likely Scenario: short positions below 113.70 with targets at 113.25 & 113.10 in extension.
Alternative scenario: above 113.70 look for further upside with 114.00 & 114.20 as targets.
Comment: as long as the resistance at 113.70 is not surpassed, the risk of the break below 113.25 remains high.

AUD/USD Intraday: the bias remains bullish.
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Pivot: 0.7515
Most Likely Scenario: long positions above 0.7515 with targets at 0.7555 & 0.7575 in extension.
Alternative scenario: below 0.7515 look for further downside with 0.7500 & 0.7480 as targets.
Comment: the RSI shows upside momentum.

Gold spot Intraday: under pressure.
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Pivot: 1247.00
Most Likely Scenario: short positions below 1247.00 with targets at 1240.00 & 1235.50 in extension.
Alternative scenario: above 1247.00 look for further upside with 1251.50 & 1256.00 as targets.
Comment: even though a continuation of the technical rebound cannot be ruled out, its extent should be limited.

Crude Oil (WTI) (F8) Intraday: the upside prevails.
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Pivot: 57.70
Most Likely Scenario: long positions above 57.70 with targets at 58.90 & 59.15 in extension.
Alternative scenario: below 57.70 look for further downside with 57.35 & 56.90 as targets.
Comment: the RSI advocates for further advance. Crude oil broke above the triangle pattern, indicating the resumption of uptrend. Both rising 20-period and 50-period moving averages maintain the upside bias.

EUR/USD Intraday: the upside prevails.
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Pivot: 1.1760
Most Likely Scenario: long positions above 1.1760 with targets at 1.1800 & 1.1820 in extension.
Alternative scenario: below 1.1760 look for further downside with 1.1745 & 1.1730 as targets.
Comment: the RSI shows upside momentum.

GBP/USD Intraday: under pressure.
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Pivot: 1.3435
Most Likely Scenario: short positions below 1.3435 with targets at 1.3350 & 1.3320 in extension.
Alternative scenario: above 1.3435 look for further upside with 1.3485 & 1.3520 as targets.
Comment: as long as the resistance at 1.3435 is not surpassed, the risk of the break below 1.3350 remains high.

USD/JPY Intraday: the bias remains bullish.
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Pivot: 113.30
Most Likely Scenario: long positions above 113.30 with targets at 113.70 & 114.00 in extension.
Alternative scenario: below 113.30 look for further downside with 113.10 & 112.80 as targets.
Comment: technically the RSI is above its neutrality area at 50.

AUD/USD Intraday: rebound.
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Pivot: 0.7500
Most Likely Scenario: long positions above 0.7500 with targets at 0.7555 & 0.7575 in extension.
Alternative scenario: below 0.7500 look for further downside with 0.7480 & 0.7460 as targets.
Comment: the RSI shows upside momentum.

Gold spot Intraday: key resistance at 1252.50.
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Pivot: 1252.50
Most Likely Scenario: short positions below 1252.50 with targets at 1243.50 & 1240.00 in extension.
Alternative scenario: above 1252.50 look for further upside with 1256.00 & 1262.50 as targets.
Comment: as long as the resistance at 1252.50 is not surpassed, the risk of the break below 1243.50 remains high.

Crude Oil (WTI) (F8) Intraday: bullish bias above 56.75.
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Pivot: 56.75
Most Likely Scenario: long positions above 56.75 with targets at 57.50 & 57.80 in extension.
Alternative scenario: below 56.75 look for further downside with 56.55 & 56.30 as targets.
Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited. The RSI lacks downward momentum. The key support at 56.75 should limit the downside potential.

EUR/USD Intraday: capped by a negative trend line.
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Pivot: 1.1800
Most Likely Scenario: short positions below 1.1800 with targets at 1.1735 & 1.1710 in extension.
Alternative scenario: above 1.1800 look for further upside with 1.1830 & 1.1850 as targets.
Comment: the RSI shows downside momentum.

GBP/USD Intraday: further advance.
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Pivot: 1.3445
Most Likely Scenario: long positions above 1.3445 with targets at 1.3545 & 1.3585 in extension.
Alternative scenario: below 1.3445 look for further downside with 1.3415 & 1.3370 as targets.
Comment: the RSI shows upside momentum.

USD/JPY Intraday: further upside.
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Pivot: 112.80
Most Likely Scenario: long positions above 112.80 with targets at 113.60 & 114.00 in extension.
Alternative scenario: below 112.80 look for further downside with 112.55 & 112.30 as targets.
Comment: the RSI is bullish and calls for further advance.

AUD/USD Intraday: under pressure.
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Pivot: 0.7530
Most Likely Scenario: short positions below 0.7530 with targets at 0.7500 & 0.7480 in extension.
Alternative scenario: above 0.7530 look for further upside with 0.7555 & 0.7595 as targets.
Comment: the RSI lacks upward momentum.

Gold spot Intraday: under pressure.
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Pivot: 1256.00
Most Likely Scenario: short positions below 1256.00 with targets at 1240.00 & 1235.50 in extension.
Alternative scenario: above 1256.00 look for further upside with 1262.50 & 1269.00 as targets.
Comment: as long as 1256.00 is resistance, likely decline to 1240.00.

Crude Oil (WTI) (F8) Intraday: limited upside.
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Pivot: 56.23
Most Likely Scenario: long positions above 56.23 with targets at 57.05 & 57.35 in extension.
Alternative scenario: below 56.23 look for further downside with 55.85 & 55.50 as targets.
Comment: the RSI calls for a rebound.

Pre European Open, Daily Technical Analysis
Thursday, December 7, 2017

EUR/USD Intraday: capped by a negative trend line.
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Pivot: 1.1830
Most Likely Scenario: short positions below 1.1830 with targets at 1.1780 & 1.1760 in extension.
Alternative scenario: above 1.1830 look for further upside with 1.1850 & 1.1875 as targets.
Comment: the RSI shows downside momentum.

GBP/USD Intraday: the downside prevails.
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Pivot: 1.3410
Most Likely Scenario: short positions below 1.3410 with targets at 1.3355 & 1.3320 in extension.
Alternative scenario: above 1.3410 look for further upside with 1.3455 & 1.3480 as targets.
Comment: as long as the resistance at 1.3410 is not surpassed, the risk of the break below 1.3355 remains high.

USD/JPY Intraday: the bias remains bullish.
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Pivot: 112.00
Most Likely Scenario: long positions above 112.00 with targets at 112.60 & 112.85 in extension.
Alternative scenario: below 112.00 look for further downside with 111.80 & 111.50 as targets.
Comment: the RSI is bullish and calls for further upside.

AUD/USD Intraday: under pressure.
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Pivot: 0.7570
Most Likely Scenario: short positions below 0.7570 with targets at 0.7520 & 0.7500 in extension.
Alternative scenario: above 0.7570 look for further upside with 0.7590 & 0.7610 as targets.
Comment: the RSI is mixed to bearish.

Gold spot Intraday: under pressure.
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Pivot: 1269.00
Most Likely Scenario: short positions below 1269.00 with targets at 1260.00 & 1254.00 in extension.
Alternative scenario: above 1269.00 look for further upside with 1272.50 & 1278.00 as targets.
Comment: a break below 1260.00 would trigger a drop towards 1254.00.

Crude Oil (WTI) (F8) Intraday: under pressure.
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Pivot: 57.05
Most Likely Scenario: short positions below 57.05 with targets at 55.75 & 55.20 in extension.
Alternative scenario: above 57.05 look for further upside with 57.95 & 58.40 as targets.
Comment: the RSI is mixed with a bearish bias. The falling 50-period moving average should maintain the strong selling pressure on the prices, and call for new weaknesses.

EUR/USD Intraday: under pressure.
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Pivot: 1.1850
Most Likely Scenario: short positions below 1.1850 with targets at 1.1800 & 1.1775 in extension.
Alternative scenario: above 1.1850 look for further upside with 1.1875 & 1.1900 as targets.
Comment: as long as the resistance at 1.1850 is not surpassed, the risk of the break below 1.1800 remains high.

GBP/USD Intraday: consolidation.
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Pivot: 1.3455
Most Likely Scenario: short positions below 1.3455 with targets at 1.3400 & 1.3370 in extension.
Alternative scenario: above 1.3455 look for further upside with 1.3480 & 1.3515 as targets.
Comment: as long as the resistance at 1.3455 is not surpassed, the risk of the break below 1.3400 remains high.

USD/JPY Intraday: under pressure.
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Pivot: 112.60
Most Likely Scenario: short positions below 112.60 with targets at 111.95 & 111.70 in extension.
Alternative scenario: above 112.60 look for further upside with 112.85 & 113.10 as targets.
Comment: the RSI shows downside momentum.

AUD/USD Intraday: under pressure.
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Pivot: 0.7620
Most Likely Scenario: short positions below 0.7620 with targets at 0.7570 & 0.7550 in extension.
Alternative scenario: above 0.7620 look for further upside with 0.7655 & 0.7680 as targets.
Comment: the RSI shows downside momentum.

Gold spot Intraday: under pressure.
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Pivot: 1274.00
Most Likely Scenario: short positions below 1274.00 with targets at 1260.00 & 1254.00 in extension.
Alternative scenario: above 1274.00 look for further upside with 1278.00 & 1283.00 as targets.
Comment: the RSI lacks upward momentum.

Crude Oil (WTI) (F8) Intraday: limited upside.
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Pivot: 57.05
Most Likely Scenario: long positions above 57.05 with targets at 58.00 & 58.40 in extension.
Alternative scenario: below 57.05 look for further downside with 56.75 & 56.40 as targets.
Comment: the RSI is mixed with a bullish bias. A support base at 57.05 has formed, which should limit any downside room, and call for a new rebound.

EUR/USD Intraday: under pressure.
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Pivot: 1.1880
Most Likely Scenario: short positions below 1.1880 with targets at 1.1840 & 1.1825 in extension.
Alternative scenario: above 1.1880 look for further upside with 1.1900 & 1.1935 as targets.
Comment: the RSI lacks upward momentum.

GBP/USD Intraday: key resistance at 1.3550.
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Pivot: 1.3550
Most Likely Scenario: short positions below 1.3550 with targets at 1.3415 & 1.3355 in extension.
Alternative scenario: above 1.3550 look for further upside with 1.3610 & 1.3660 as targets.
Comment: as long as the resistance at 1.3550 is not surpassed, the risk of the break below 1.3415 remains high.

USD/JPY Intraday: consolidation.
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Pivot: 112.80
Most Likely Scenario: short positions below 112.80 with targets at 112.30 & 112.10 in extension.
Alternative scenario: above 112.80 look for further upside with 113.05 & 113.35 as targets.
Comment: as long as 112.80 is resistance, look for choppy price action with a bearish bias.

AUD/USD Intraday: the bias remains bullish.
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Pivot: 0.7610
Most Likely Scenario: long positions above 0.7610 with targets at 0.7660 & 0.7680 in extension.
Alternative scenario: below 0.7610 look for further downside with 0.7585 & 0.7570 as targets.
Comment: the RSI is bullish and calls for further upside.

Gold spot Intraday: key resistance at 1278.00.
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Pivot: 1278.00
Most Likely Scenario: short positions below 1278.00 with targets at 1270.00 & 1266.00 in extension.
Alternative scenario: above 1278.00 look for further upside with 1283.00 & 1289.00 as targets.
Comment: the upward potential is likely to be limited by the resistance at 1278.00.

Crude Oil (WTI) (F8) Intraday: under pressure.
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Pivot: 58.00
Most Likely Scenario: short positions below 58.00 with targets at 57.25 & 56.75 in extension.
Alternative scenario: above 58.00 look for further upside with 58.40 & 58.90 as targets.
Comment: as long as 58.00 is resistance, likely decline to 57.25. The prices remain capped by a declining trend line, which should call for a new drop. Besides, the relative strength index is bearish.