ATFX Daily Market Newsletter

DAILY MARKET NEWSLETTER - 7 August 2023

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Publish date: Mon, 07 Aug 2023, 09:46 AM
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ATFX Daily Market Newsletter

EUR/USD Intraday: bullish bias above 1.0960

Pivot:

1.0960

Our preference:

Long positions above 1.0960 with targets at 1.1040 & 1.1065 in extension.

Alternative scenario:

Below 1.0960 look for further downside with 1.0935 & 1.0910 as targets.

Comment:

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

Analyst Views Chart

Gold Intraday: bullish bias above 1935.00.

Pivot:

1935.00

Our preference:

Long positions above 1935.00 with targets at 1949.00 & 1954.00 in extension.

Alternative scenario:

Below 1935.00 look for further downside with 1929.00 & 1924.00 as targets.

Comment:

The RSI calls for a rebound.

Analyst Views Chart

Crude Oil (WTI)‎ (U3)‎ Intraday: further upside.

Pivot:

82.00

Our preference:

Long positions above 82.00 with targets at 83.80 & 84.70 in extension.

Alternative scenario:

Below 82.00 look for further downside with 81.10 & 79.90 as targets.

Comment:

The RSI shows upside momentum.

Analyst Views Chart

GBP/USD Intraday: the bias remains bullish.

Pivot:

1.2710

Our preference:

Long positions above 1.2710 with targets at 1.2790 & 1.2810 in extension.

Alternative scenario:

Below 1.2710 look for further downside with 1.2690 & 1.2670 as targets.

Comment:

The RSI calls for a bounce.

Analyst Views Chart

USD/JPY Intraday: the downside prevails.

Pivot:

142.35

Our preference:

Short positions below 142.35 with targets at 141.30 & 141.00 in extension.

Alternative scenario:

Above 142.35 look for further upside with 142.60 & 142.85 as targets.

Comment:

The RSI calls for a new downleg.

Analyst Views Chart

AUD/USD Intraday: intraday support around 0.6545.

Pivot:

0.6545

Our preference:

Long positions above 0.6545 with targets at 0.6595 & 0.6610 in extension.

Alternative scenario:

Below 0.6545 look for further downside with 0.6530 & 0.6515 as targets.

Comment:

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

Analyst Views Chart

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