DAILY ANALYSIS

 

Please note that due to market volatility, some of the key levels may have already been reached and scenarios played out.

AUD/USD intraday: rebound   Our pivot point is at 0.6866.   Our preference: Rebound.   Alternative scenario: The downside breakout of 0.6866 would call for 0.6831 and 0.6811.   Comment: The RSI is above 50. The MACD is negative and above its signal line. The MACD must break above its zero level to call for further upside. Moreover, the price is trading above its 20 period moving average (0.6888) but under its 50 period moving average (0.6923).

EUR/USD intraday: rebound towards 1.0749   Our pivot point stands at 1.0650.   Our preference: Rebound towards 1.0749.   Alternative scenario: Below 1.0650, expect 1.0613 and 1.0591.   Comment: The RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 1.0684 and 1.0709).

Gold intraday: short term rebound towards 1862.50   Our pivot point is at 1824.00.   Our preference: Short term rebound towards 1862.50.   Alternative scenario: Below 1824.00, expect 1810.00 and 1801.00.   Comment: The RSI is below 50. The MACD is above its signal line and negative. The configuration is mixed. Gold is trading above its 20 period moving average (1834.90) but under its 50 period moving average (1842.80).

USD/JPY intraday: as long as 133.54 is support look for 135.53   133.54 is our pivot point.   Our preference: As long as 133.54 is support look for 135.53.   Alternative scenario: The downside breakout of 133.54 would call for 132.79 and 132.34.   Comment: The RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 134.02 and 133.45).

GBP/USD intraday: rebound towards 1.2108   1.1980 is our pivot point.   Our preference: Rebound towards 1.2108.   Alternative scenario: Below 1.1980, expect 1.1933 and 1.1906.   Comment: The RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 1.2023 and 1.2095).

EUR/JPY intraday: as long as 142.73 is support look for 144.66   Our pivot point stands at 142.73.   Our preference: As long as 142.73 is support look for 144.66.   Alternative scenario: Below 142.73, expect 142 and 141.57.   Comment: The RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 143.19 and 142.92).

EUR/GBP intraday: as long as 0.8865 is support look for 0.8928   Our pivot point stands at 0.8865.   Our preference: As long as 0.8865 is support look for 0.8928.   Alternative scenario: Below 0.8865, expect 0.8843 and 0.8830.   Comment: The RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 0.8885 and 0.8853).

USD/CAD intraday: target 1.3311   Our pivot point is at 1.3436.   Our preference: Target 1.3311.   Alternative scenario: Above 1.3436, look for 1.3482 and 1.3510.   Comment: The RSI is below its neutrality area at 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the pair is trading under its 20 period moving average (1.3409) but above its 50 period moving average (1.3380).