ATFX Daily Market Newsletter

DAILY MARKET NEWSLETTER - 5 December 2022

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Publish date: Mon, 05 Dec 2022, 10:16 AM
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ATFX Daily Market Newsletter

EUR/USD Intraday: the upside prevails.

Pivot:

1.0505

Our preference:

Long positions above 1.0505 with targets at 1.0560 & 1.0590 in extension.

Alternative scenario:

Below 1.0505 look for further downside with 1.0480 & 1.0450 as targets.

Comment:

Technically the RSI is above its neutrality area at 50.

Analyst Views Chart

Gold Intraday: the bias remains bullish.

Pivot:

1786.00

Our preference:

Long positions above 1786.00 with targets at 1803.00 & 1810.00 in extension.

Alternative scenario:

Below 1786.00 look for further downside with 1778.00 & 1770.00 as targets.

Comment:

Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

Analyst Views Chart

Crude Oil (WTI)‎ (F3)‎ Intraday: rebound expected.

Pivot:

79.75

Our preference:

Long positions above 79.75 with targets at 81.50 & 82.20 in extension.

Alternative scenario:

Below 79.75 look for further downside with 79.10 & 78.40 as targets.

Comment:

The RSI calls for a rebound.

Analyst Views Chart

GBP/USD Intraday: further advance.

Pivot:

1.2230

Our preference:

Long positions above 1.2230 with targets at 1.2310 & 1.2350 in extension.

Alternative scenario:

Below 1.2230 look for further downside with 1.2185 & 1.2135 as targets.

Comment:

The RSI lacks downward momentum.

Analyst Views Chart

USD/JPY Intraday: key resistance at 135.00.

Pivot:

135.00

Our preference:

Short positions below 135.00 with targets at 134.00 & 133.60 in extension.

Alternative scenario:

Above 135.00 look for further upside with 135.50 & 136.00 as targets.

Comment:

As long as the resistance at 135.00 is not surpassed, the risk of the break below 134.00 remains high.

Analyst Views Chart

AUD/USD Intraday: rebound expected.

Pivot:

0.6770

Our preference:

Long positions above 0.6770 with targets at 0.6815 & 0.6840 in extension.

Alternative scenario:

Below 0.6770 look for further downside with 0.6750 & 0.6730 as targets.

Comment:

The RSI has just landed on its neutrality area at 50% and is turning up.

Analyst Views Chart

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