ATFX Daily Market Newsletter

DAILY MARKET NEWSLETTER - 16 May 2023

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Publish date: Tue, 16 May 2023, 12:23 PM
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ATFX Daily Market Newsletter

AUD/USD Intraday: continuation of the rebound.

Pivot:

0.6670

Our preference:

Long positions above 0.6670 with targets at 0.6720 & 0.6740 in extension.

Alternative scenario:

Below 0.6670 look for further downside with 0.6650 & 0.6635 as targets.

Comment:

The RSI lacks downward momentum.

Analyst Views Chart

Gold Intraday: intraday support around 2008.00.

Pivot:

2008.00

Our preference:

Long positions above 2008.00 with targets at 2022.00 & 2032.00 in extension.

Alternative scenario:

Below 2008.00 look for further downside with 2001.00 & 1995.00 as targets.

Comment:

The RSI lacks downward momentum.

Analyst Views Chart

Crude Oil (WTI)‎ (M3)‎ Intraday: intraday support around 70.30.

Pivot:

70.30

Our preference:

Long positions above 70.30 with targets at 71.70 & 72.70 in extension.

Alternative scenario:

Below 70.30 look for further downside with 69.80 & 69.40 as targets.

Comment:

The next resistances are at 71.70 and then at 72.70.

Analyst Views Chart

EUR/USD Intraday: rebound.

Pivot:

1.0855

Our preference:

Long positions above 1.0855 with targets at 1.0890 & 1.0910 in extension.

Alternative scenario:

Below 1.0855 look for further downside with 1.0840 & 1.0820 as targets.

Comment:

Technically the RSI is above its neutrality area at 50.

Analyst Views Chart

GBP/USD Intraday: continuation of the rebound.

Pivot:

1.2490

Our preference:

Long positions above 1.2490 with targets at 1.2560 & 1.2580 in extension.

Alternative scenario:

Below 1.2490 look for further downside with 1.2465 & 1.2440 as targets.

Comment:

The break above 1.2490 is a positive signal that has opened a path to 1.2560.

Analyst Views Chart

USD/JPY Intraday: bullish bias above 135.70.

Pivot:

135.70

Our preference:

Long positions above 135.70 with targets at 136.35 & 136.60 in extension.

Alternative scenario:

Below 135.70 look for further downside with 135.40 & 135.10 as targets.

Comment:

A support base at 135.70 has formed and has allowed for a temporary stabilisation.

Analyst Views Chart

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