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Publish Date: Wed, 02 Nov 2022, 08:52 AM
EUR/USD Intraday: the downside prevails.
Pivot:
0.9900
Our preference:
Short positions below 0.9900 with targets at 0.9850 & 0.9830 in extension.
Alternative scenario:
Above 0.9900 look for further upside with 0.9920 & 0.9940 as targets.
Comment:
As long as the resistance at 0.9900 is not surpassed, the risk of the break below 0.9850 remains high.
Gold Intraday: bullish bias above 1640.00.
Pivot:
1640.00
Our preference:
Long positions above 1640.00 with targets at 1655.00 & 1661.00 in extension.
Alternative scenario:
Below 1640.00 look for further downside with 1631.00 & 1624.00 as targets.
Comment:
The RSI is mixed with a bullish bias.
Crude Oil (WTI) (Z2) Intraday: intraday support around 87.60.
Pivot:
87.60
Our preference:
Long positions above 87.60 with targets at 89.45 & 90.40 in extension.
Alternative scenario:
Below 87.60 look for further downside with 87.00 & 86.40 as targets.
Comment:
The next resistances are at 89.45 and then at 90.40.
GBP/USD Intraday: watch 1.1435.
Pivot:
1.1520
Our preference:
Short positions below 1.1520 with targets at 1.1460 & 1.1435 in extension.
Alternative scenario:
Above 1.1520 look for further upside with 1.1540 & 1.1565 as targets.
Comment:
The upward potential is likely to be limited by the resistance at 1.1520.
USD/JPY Intraday: bullish bias above 147.50.
Pivot:
147.50
Our preference:
Long positions above 147.50 with targets at 148.40 & 148.80 in extension.
Alternative scenario:
Below 147.50 look for further downside with 147.25 & 147.00 as targets.
Comment:
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
AUD/USD Intraday: under pressure.
Pivot:
0.6420
Our preference:
Short positions below 0.6420 with targets at 0.6365 & 0.6340 in extension.
Alternative scenario:
Above 0.6420 look for further upside with 0.6440 & 0.6460 as targets.
Comment:
The RSI calls for a new downleg.