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Publish Date: Tue, 09 May 2023, 03:00 AM
AUD/USD Intraday: consolidation.
Pivot:
0.6800
Our preference:
Short positions below 0.6800 with targets at 0.6760 & 0.6740 in extension.
Alternative scenario:
Above 0.6800 look for further upside with 0.6820 & 0.6840 as targets.
Comment:
As long as 0.6800 is resistance, look for choppy price action with a bearish bias.
Gold Intraday: key resistance at 2030.00.
Pivot:
2030.00
Our preference:
Short positions below 2030.00 with targets at 2014.00 & 2008.00 in extension.
Alternative scenario:
Above 2030.00 look for further upside with 2038.00 & 2045.00 as targets.
Comment:
As long as 2030.00 is resistance, look for choppy price action with a bearish bias.
Crude Oil (WTI) (M3) Intraday: 74.60 in sight.
Pivot:
71.90
Our preference:
Long positions above 71.90 with targets at 73.90 & 74.60 in extension.
Alternative scenario:
Below 71.90 look for further downside with 70.90 & 70.00 as targets.
Comment:
The RSI has just landed on its neutrality area at 50% and is turning up.
EUR/USD Intraday: the downside prevails.
Pivot:
1.1020
Our preference:
Short positions below 1.1020 with targets at 1.0980 & 1.0965 in extension.
Alternative scenario:
Above 1.1020 look for further upside with 1.1035 & 1.1050 as targets.
Comment:
The RSI is bearish and calls for further decline.
GBP/USD Intraday: towards 1.2580.
Pivot:
1.2640
Our preference:
Short positions below 1.2640 with targets at 1.2600 & 1.2580 in extension.
Alternative scenario:
Above 1.2640 look for further upside with 1.2655 & 1.2670 as targets.
Comment:
The RSI is bearish and calls for further decline.
USD/JPY Intraday: bullish bias above 134.65.
Pivot:
134.65
Our preference:
Long positions above 134.65 with targets at 135.30 & 135.60 in extension.
Alternative scenario:
Below 134.65 look for further downside with 134.40 & 134.15 as targets.
Comment:
The RSI calls for a bounce.