Crude Oil (WTI) (F4) Intraday: under pressure.
Pivot:
70.75
Our preference:
Short positions below 70.75 with targets at 68.00 & 67.00 in extension.
Alternative scenario:
Above 70.75 look for further upside with 72.00 & 72.90 as targets.
Comment:
As long as 70.75 is resistance, likely decline to 68.00.
Gold Intraday: consolidation in place.
Pivot:
2035.00
Our preference:
Short positions below 2035.00 with targets at 2019.00 & 2010.00 in extension.
Alternative scenario:
Above 2035.00 look for further upside with 2043.00 & 2050.00 as targets.
Comment:
As long as 2035.00 is resistance, look for choppy price action with a bearish bias.
EUR/USD Intraday: watch 1.0745.
Pivot:
1.0800
Our preference:
Short positions below 1.0800 with targets at 1.0745 & 1.0720 in extension.
Alternative scenario:
Above 1.0800 look for further upside with 1.0825 & 1.0845 as targets.
Comment:
A break below 1.0745 would trigger a drop towards 1.0720.
GBP/USD Intraday: capped by a negative trend line.
Pivot:
1.2605
Our preference:
Short positions below 1.2605 with targets at 1.2530 & 1.2500 in extension.
Alternative scenario:
Above 1.2605 look for further upside with 1.2640 & 1.2670 as targets.
Comment:
The RSI lacks upward momentum.
AUD/USD Intraday: watch 0.6535.
Pivot:
0.6575
Our preference:
Short positions below 0.6575 with targets at 0.6535 & 0.6515 in extension.
Alternative scenario:
Above 0.6575 look for further upside with 0.6600 & 0.6625 as targets.
Comment:
A break below 0.6535 would trigger a drop towards 0.6515.
USD/JPY Intraday: bullish bias above 146.90.
Pivot:
146.90
Our preference:
Long positions above 146.90 with targets at 147.50 & 147.90 in extension.
Alternative scenario:
Below 146.90 look for further downside with 146.55 & 146.20 as targets.
Comment:
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.