ATFX Daily Market Newsletter

DAILY MARKET NEWSLETTER - 18 May 2023

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Publish date: Thu, 18 May 2023, 10:15 AM
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ATFX Daily Market Newsletter

AUD/USD Intraday: bullish bias above 0.6645.

Pivot:

0.6645

Our preference:

Long positions above 0.6645 with targets at 0.6675 & 0.6690 in extension.

Alternative scenario:

Below 0.6645 look for further downside with 0.6630 & 0.6615 as targets.

Comment:

A support base at 0.6645 has formed and has allowed for a temporary stabilisation.

Analyst Views Chart

Gold Intraday: key resistance at 1990.00.

Pivot:

1990.00

Our preference:

Short positions below 1990.00 with targets at 1975.00 & 1970.00 in extension.

Alternative scenario:

Above 1990.00 look for further upside with 1995.00 & 2001.00 as targets.

Comment:

As long as the resistance at 1990.00 is not surpassed, the risk of the break below 1975.00

Analyst Views Chart

Crude Oil (WTI)‎ (N3)‎ Intraday: bullish bias above 72.10.

Pivot:

72.10

Our preference:

Long positions above 72.10 with targets at 73.30 & 73.80 in extension.

Alternative scenario:

Below 72.10 look for further downside with 71.60 & 71.00 as targets.

Comment:

The RSI shows upside momentum.

Analyst Views Chart

EUR/USD Intraday: key resistance at 1.0855.

Pivot:

1.0855

Our preference:

Short positions below 1.0855 with targets at 1.0815 & 1.0800 in extension.

Alternative scenario:

Above 1.0855 look for further upside with 1.0875 & 1.0900 as targets.

Comment:

The upward potential is likely to be limited by the resistance at 1.0855.

Analyst Views Chart

GBP/USD Intraday: bullish bias above 1.2460.

Pivot:

1.2460

Our preference:

Long positions above 1.2460 with targets at 1.2510 & 1.2530 in extension.

Alternative scenario:

Below 1.2460 look for further downside with 1.2440 & 1.2420 as targets.

Comment:

Technically the RSI is above its neutrality area at 50.

Analyst Views Chart

USD/JPY Intraday: further advance.

Pivot:

137.10

Our preference:

Long positions above 137.10 with targets at 137.85 & 138.20 in extension.

Alternative scenario:

Below 137.10 look for further downside with 136.70 & 136.25 as targets.

Comment:

The break above 137.10 is a positive signal that has opened a path to 137.85.

Analyst Views Chart

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