ATFX Daily Market Newsletter

DAILY MARKET NEWSLETTER - 5 December 2023

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Publish date: Tue, 05 Dec 2023, 10:12 AM
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ATFX Daily Market Newsletter

Crude Oil (WTI)‎ (F4)‎ Intraday: choppy.

Pivot:

74.35

Our preference:

Short positions below 74.35 with targets at 72.85 & 72.00 in extension.

Alternative scenario:

Above 74.35 look for further upside with 75.00 & 75.80 as targets.

Comment:

The RSI is around its neutrality area at 50%

Analyst Views Chart

Gold Intraday: key resistance at 2050.00.

Pivot:

2050.00

Our preference:

Short positions below 2050.00 with targets at 2015.00 & 2000.00 in extension.

Alternative scenario:

Above 2050.00 look for further upside with 2063.00 & 2075.00 as targets.

Comment:

The RSI shows downside momentum.

Analyst Views Chart

EUR/USD Intraday: key resistance at 1.0865.

Pivot:

1.0865

Our preference:

Short positions below 1.0865 with targets at 1.0800 & 1.0780 in extension.

Alternative scenario:

Above 1.0865 look for further upside with 1.0890 & 1.0915 as targets.

Comment:

As long as the resistance at 1.0865 is not surpassed, the risk of the break below 1.0800 remains high.

Analyst Views Chart

GBP/USD Intraday: under pressure.

Pivot:

1.2665

Our preference:

Short positions below 1.2665 with targets at 1.2600 & 1.2575 in extension.

Alternative scenario:

Above 1.2665 look for further upside with 1.2690 & 1.2725 as targets.

Comment:

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

Analyst Views Chart

AUD/USD Intraday: capped by a negative trend line.

Pivot:

0.6650

Our preference:

Short positions below 0.6650 with targets at 0.6595 & 0.6570 in extension.

Alternative scenario:

Above 0.6650 look for further upside with 0.6670 & 0.6690 as targets.

Comment:

A break below 0.6595 would trigger a drop towards 0.6570.

Analyst Views Chart

USD/JPY Intraday: bullish bias above 146.70.

Pivot:

146.70

Our preference:

Long positions above 146.70 with targets at 147.50 & 147.90 in extension.

Alternative scenario:

Below 146.70 look for further downside with 146.20 & 145.80 as targets.

Comment:

The next resistances are at 147.50 and then at 147.90.

Analyst Views Chart

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