Pre European Open, Daily Technical Analysis
Tuesday, September 18, 2018
EUR/USD Intraday: further advance.
[You must be registered and logged in to see this image.]Pivot: 1.1685
Our preference: long positions above 1.1685 with targets at 1.1750 & 1.1775 in extension.
Alternative scenario: below 1.1685 look for further downside with 1.1665 & 1.1645 as targets.
Comment: the immediate trend remains up and the momentum is strong. The pair validated a Bullish Flag: a continuation pattern with a theoretical target at 1.175.
USD/CHF Intraday: the downside prevails.
[You must be registered and logged in to see this image.]Pivot: 0.9635
Our preference: short positions below 0.9635 with targets at 0.9590 & 0.9570 in extension.
Alternative scenario: above 0.9635 look for further upside with 0.9655 & 0.9675 as targets.
Comment: as long as 0.9635 is resistance, look for choppy price action with a bearish bias. The pair is trading in a bearish channel.
GBP/USD Intraday: bullish bias above 1.3135.
[You must be registered and logged in to see this image.]Pivot: 1.3135
Our preference: long positions above 1.3135 with targets at 1.3185 & 1.3200 in extension.
Alternative scenario: below 1.3135 look for further downside with 1.3110 & 1.3080 as targets.
Comment: a support base at 1.3135 has formed and has allowed for a temporary stabilisation.
AUD/USD Intraday: further upside.
[You must be registered and logged in to see this image.]Pivot: 0.7185
Our preference: long positions above 0.7185 with targets at 0.7230 & 0.7260 in extension.
Alternative scenario: below 0.7185 look for further downside with 0.7165 & 0.7140 as targets.
Comment: the RSI is bullish and calls for further upside. In addition, the pair has broken above a bearish channel resistance.
USD/CAD Intraday: bullish bias above 1.3025.
[You must be registered and logged in to see this image.]Pivot: 1.3025
Our preference: long positions above 1.3025 with targets at 1.3080 & 1.3100 in extension.
Alternative scenario: below 1.3025 look for further downside with 1.3000 & 1.2980 as targets.
Comment: the RSI is bullish and calls for further advance.
EUR/GBP Intraday: continuation of the rebound.
[You must be registered and logged in to see this image.]Pivot: 0.8885
Our preference: long positions above 0.8885 with targets at 0.8905 & 0.8915 in extension.
Alternative scenario: below 0.8885 look for further downside with 0.8870 & 0.8860 as targets.
Comment: the break above 0.8885 is a positive signal that has opened a path to 0.8905. The pair validated a Falling Wedge: a bullish pattern calling for a rebound.
EUR/JPY Intraday: further advance.
[You must be registered and logged in to see this image.]Pivot: 131.00
Our preference: long positions above 131.00 with targets at 131.50 & 131.85 in extension.
Alternative scenario: below 131.00 look for further downside with 130.60 & 130.30 as targets.
Comment: the break above the resistance at 131.00 triggered an upward acceleration to 131.50.
Dow Jones (CME) (Z18) Intraday: key resistance at 26140.00.
[You must be registered and logged in to see this image.]Pivot: 26140.00
Our preference: short positions below 26140.00 with targets at 25960.00 & 25870.00 in extension.
Alternative scenario: above 26140.00 look for further upside with 26225.00 & 26255.00 as targets.
Comment: the RSI shows downside momentum.
Silver spot Intraday: key resistance at 14.1900.
[You must be registered and logged in to see this image.]Pivot: 14.1900
Our preference: short positions below 14.1900 with targets at 14.0500 & 14.0000 in extension.
Alternative scenario: above 14.1900 look for further upside with 14.2500 & 14.3500 as targets.
Comment: the RSI advocates for further downside.
Gold spot Intraday: key resistance at 1202.00.
[You must be registered and logged in to see this image.]Pivot: 1202.0000
Our preference: short positions below 1202.00 with targets at 1196.00 & 1192.50 in extension.
Alternative scenario: above 1202.00 look for further upside with 1205.00 & 1208.50 as targets.
Comment: the RSI lacks upward momentum.
Crude Oil (WTI) (V18) Intraday: key resistance at 69.00.
[You must be registered and logged in to see this image.]Pivot: 69.00
Our preference: short positions below 69.00 with targets at 68.05 & 67.45 in extension.
Alternative scenario: above 69.00 look for further upside with 69.70 & 70.15 as targets.
Comment: the RSI is mixed to bearish. The prices has broken below a rising trend line.