ATFX Daily Market Newsletter

DAILY MARKET NEWSLETTER - 25 July 2023

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Publish date: Tue, 25 Jul 2023, 10:51 AM
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ATFX Daily Market Newsletter

AUD/USD Intraday: key resistance at 0.6755.

Pivot:

0.6755

Our preference:

Short positions below 0.6755 with targets at 0.6720 & 0.6705 in extension.

Alternative scenario:

Above 0.6755 look for further upside with 0.6770 & 0.6785 as targets.

Comment:

As long as 0.6755 is resistance, look for choppy price action with a bearish bias.

Analyst Views Chart

Gold Intraday: under pressure.

Pivot:

1963.00

Our preference:

Short positions below 1963.00 with targets at 1946.00 & 1940.00 in extension.

Alternative scenario:

Above 1963.00 look for further upside with 1968.00 & 1973.00 as targets.

Comment:

The RSI is bearish and calls for further downside.

Analyst Views Chart

Crude Oil (WTI)‎ (U3)‎ Intraday: bullish bias above 77.80.

Pivot:

77.80

Our preference:

Long positions above 77.80 with targets at 80.00 & 80.50 in extension.

Alternative scenario:

Below 77.80 look for further downside with 77.25 & 76.50 as targets.

Comment:

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

Analyst Views Chart

EUR/USD Intraday: the downside prevails.

Pivot:

1.1090

Our preference:

Short positions below 1.1090 with targets at 1.1040 & 1.1025 in extension.

Alternative scenario:

Above 1.1090 look for further upside with 1.1105 & 1.1120 as targets.

Comment:

The RSI is bearish and calls for further decline.

Analyst Views Chart

GBP/USD Intraday: expect 1.2770.

Pivot:

1.2855

Our preference:

Short positions below 1.2855 with targets at 1.2795 & 1.2770 in extension.

Alternative scenario:

Above 1.2855 look for further upside with 1.2880 & 1.2900 as targets.

Comment:

As long as the resistance at 1.2855 is not surpassed, the risk of the break below 1.2795 remains high.

Analyst Views Chart

USD/JPY Intraday: bullish bias above 141.00.

Pivot:

141.00

Our preference:

Long positions above 141.00 with targets at 141.95 & 142.30 in extension.

Alternative scenario:

Below 141.00 look for further downside with 140.75 & 140.50 as targets.

Comment:

The RSI calls for a bounce.

Analyst Views Chart

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