Pre European Open, Daily Technical Analysis
Monday
Monday
EUR/USD Intraday: under pressure.
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Pivot: 1.1630
Our preference: short positions below 1.1630 with targets at 1.1580 & 1.1555 in extension.
Alternative scenario: above 1.1630 look for further upside with 1.1655 & 1.1675 as targets.
Comment: the RSI lacks upward momentum.
GBP/USD Intraday: under pressure.
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Pivot: 1.2970
Our preference: short @ 1.2930 with targets @ 1.2900 & 1.2860 in extension.
Alternative scenario: above 1.2970 look for further upside with 1.3000 & 1.3030 as targets.
Comment: the RSI shows downside momentum.
AUD/USD Intraday: the downside prevails.
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Pivot: 0.7215
Our preference: short positions below 0.7215 with targets at 0.7160 & 0.7135 in extension.
Alternative scenario: above 0.7215 look for further upside with 0.7240 & 0.7275 as targets.
Comment: as long as the resistance at 0.7215 is not surpassed, the risk of the break below 0.7160 remains high.
Gold spot Intraday: under pressure.
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Pivot: 1204.5000
Our preference: short positions below 1204.50 with targets at 1195.50 & 1192.00 in extension.
Alternative scenario: above 1204.50 look for further upside with 1209.00 & 1212.00 as targets.
Comment: the RSI is mixed to bearish.
Silver spot Intraday: the downside prevails.
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Pivot: 14.5300
Our preference: short positions below 14.5300 with targets at 14.3600 & 14.2600 in extension.
Alternative scenario: above 14.5300 look for further upside with 14.6000 & 14.7000 as targets.
Comment: the RSI advocates for further decline.
Crude Oil (WTI) (V18) Intraday: the downside prevails.
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Pivot: 70.0000
Our preference: short positions below 70.00 with targets at 69.35 & 68.95 in extension.
Alternative scenario: above 70.00 look for further upside with 70.50 & 70.95 as targets.
Comment: the RSI is mixed to bearish.