ATFX Daily Market Newsletter

DAILY MARKET NEWSLETTER - 12 May 2023

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Publish date: Fri, 12 May 2023, 09:53 AM
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ATFX Daily Market Newsletter

AUD/USD Intraday: watch 0.6680.

Pivot:

0.6730

Our preference:

Short positions below 0.6730 with targets at 0.6680 & 0.6660 in extension.

Alternative scenario:

Above 0.6730 look for further upside with 0.6755 & 0.6780 as targets.

Comment:

A break below 0.6680 would trigger a drop towards 0.6660.

Analyst Views Chart

Gold Intraday: towards 1999.00.

Pivot:

2025.00

Our preference:

Short positions below 2025.00 with targets at 2008.00 & 1999.00 in extension.

Alternative scenario:

Above 2025.00 look for further upside with 2031.00 & 2041.00 as targets.

Comment:

The RSI is bearish and calls for further downside.

Analyst Views Chart

Crude Oil (WTI)‎ (M3)‎ Intraday: key resistance at 72.05.

Pivot:

72.05

Our preference:

Short positions below 72.05 with targets at 70.80 & 70.20 in extension.

Alternative scenario:

Above 72.05 look for further upside with 72.75 & 73.35 as targets.

Comment:

As long as the resistance at 72.05 is not surpassed, the risk of the break below 70.80 remains high.

Analyst Views Chart

EUR/USD Intraday: the downside prevails.

Pivot:

1.0940

Our preference:

Short positions below 1.0940 with targets at 1.0895 & 1.0875 in extension.

Alternative scenario:

Above 1.0940 look for further upside with 1.0960 & 1.0980 as targets.

Comment:

Technically the RSI is below its neutrality area at 50.

Analyst Views Chart

GBP/USD Intraday: the downside prevails.

Pivot:

1.2560

Our preference:

Short positions below 1.2560 with targets at 1.2480 & 1.2445 in extension.

Alternative scenario:

Above 1.2560 look for further upside with 1.2590 & 1.2615 as targets.

Comment:

The break below 1.2560 is a negative signal that has opened a path to 1.2480.

Analyst Views Chart

USD/JPY Intraday: the upside prevails.

Pivot:

134.15

Our preference:

Long positions above 134.15 with targets at 134.80 & 135.10 in extension.

Alternative scenario:

Below 134.15 look for further downside with 133.75 & 133.35 as targets.

Comment:

The RSI lacks downward momentum.

Analyst Views Chart

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