ATFX Daily Market Newsletter

DAILY MARKET NEWSLETTER - 7 July 2023

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Publish date: Fri, 07 Jul 2023, 10:47 AM
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ATFX Daily Market Newsletter

Gold Intraday: key resistance at 1917.00.

Pivot:

1917.00

Our preference:

Short positions below 1917.00 with targets at 1902.00 & 1896.00 in extension.

Alternative scenario:

Above 1917.00 look for further upside with 1921.00 & 1927.00 as targets.

Comment:

As long as the resistance at 1917.00 is not surpassed, the risk of the break below 1902.00

Analyst Views Chart

Crude Oil (WTI)‎ (Q3)‎ Intraday: intraday support around 71.30.

Pivot:

71.30

Our preference:

Long positions above 71.30 with targets at 72.35 & 72.65 in extension.

Alternative scenario:

Below 71.30 look for further downside with 70.80 & 70.25 as targets.

Comment:

The next resistances are at 72.35 and then at 72.65.

Analyst Views Chart

EUR/USD Intraday: further advance.

Pivot:

1.0865

Our preference:

Long positions above 1.0865 with targets at 1.0905 & 1.0925 in extension.

Alternative scenario:

Below 1.0865 look for further downside with 1.0850 & 1.0835 as targets.

Comment:

The RSI is bullish and calls for further upside.

Analyst Views Chart

GBP/USD Intraday: bullish bias above 1.2710.

Pivot:

1.2710

Our preference:

Long positions above 1.2710 with targets at 1.2780 & 1.2800 in extension.

Alternative scenario:

Below 1.2710 look for further downside with 1.2685 & 1.2660 as targets.

Comment:

The RSI calls for a bounce.

Analyst Views Chart

USD/JPY Intraday: the downside prevails.

Pivot:

144.40

Our preference:

Short positions below 144.40 with targets at 143.55 & 143.30 in extension.

Alternative scenario:

Above 144.40 look for further upside with 144.65 & 144.90 as targets.

Comment:

The RSI advocates for further downside.

Analyst Views Chart

AUD/USD Intraday: the downside prevails.

Pivot:

0.6655

Our preference:

Short positions below 0.6655 with targets at 0.6610 & 0.6595 in extension.

Alternative scenario:

Above 0.6655 look for further upside with 0.6670 & 0.6685 as targets.

Comment:

As long as 0.6655 is resistance, look for choppy price action with a bearish bias.

Analyst Views Chart

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