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| EUR/USD intraday: under pressure. |
Pivot: 1.2350.
Our Preference: SHORT positions @ 1.234 with 1.2295 & 1.227 in sight.
Alternative scenario: The upside penetration of 1.235 will call for 1.2385 & 1.2405.
Comment: the pair stands below its new resistance and remains under pressure.
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| GBP/USD intraday: the upside prevails. |
Pivot: 1.5645.
Our Preference: LONG positions above 1.5645 with 1.5725 & 1.5765 as next targets.
Alternative scenario: The downside penetration of 1.5645 will call for 1.56 & 1.557.
Comment: the pair stands above its support and remains on the upside.
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| USD/CHF intraday: rebound. |
Pivot: 0.97.
Our Preference: LONG positions above 0.9715 with 0.976 & 0.978 as next targets.
Alternative scenario: The downside penetration of 0.9715 will call for 0.969 & 0.9675.
Comment: the pair stands above its support and is posting a rebound.
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| USD/JPY intraday: the upside prevails. |
Pivot: 78.55.
Our Preference: LONG positions above 78.55 with targets @ 78.9 & 79.05.
Alternative scenario: The downside penetration of 78.55 will call for 78.45 & 78.25.
Comment: the pair has broken above its resistance and remains on the upside.
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| AUD/USD intraday: capped by a negative trend line. |
Pivot: 1.052
Our preference: Short positions below 1.052 with targets @ 1.045 & 1.043 in extension.
Alternative scenario: Above 1.052 look for further upside with 1.055 & 1.059 as targets.
Comment: the RSI is bearish and calls for further downside.
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| GOLD (Spot) intraday: the downside prevails. |
Pivot: 1608.00
Our Preference: SHORT positions below 1608 with 1590 & 1584 in sight.
Alternative scenario: The upside penetration of 1608 will call for a rebound towards 1618 & 1626.
Comment: as long as 1608 is resistance, look for choppy price action with a bearish bias.
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| SILVER (Spot) intraday: the downside prevails. |
Pivot: 28.05
Our Preference: SHORT positions below 28.05 with targets @ 27.62 & 27.55.
Alternative scenario: The upside breakout of 28.05 will open the way to 28.25 & 28.35.
Comment: as long as 28.05 is resistance, expect a return to 27.62.
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| Crude Oil (Sep 12) intraday: bullish bias above 91.75 |
Pivot: 91.75
Our Preference: LONG positions above 91.75 with targets @ 94 & 94.6.
Alternative scenario: The downside penetration of 91.75 will call for 90.6 & 89.4.
Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
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