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Publish Date: Tue, 18 Jul 2023, 01:57 AM
AUD/USD Intraday: the bias remains bullish.
Pivot:
0.6795
Our preference:
Long positions above 0.6795 with targets at 0.6830 & 0.6845 in extension.
Alternative scenario:
Below 0.6795 look for further downside with 0.6780 & 0.6765 as targets.
Comment:
A support base at 0.6795 has formed and has allowed for a temporary stabilisation.
Gold Intraday: bullish bias above 1946.00.
Pivot:
1946.00
Our preference:
Long positions above 1946.00 with targets at 1963.00 & 1968.00 in extension.
Alternative scenario:
Below 1946.00 look for further downside with 1940.00 & 1933.00 as targets.
Comment:
A support base at 1946.00 has formed and has allowed for a temporary stabilisation.
Crude Oil (WTI) (U3) Intraday: under pressure.
Pivot:
75.00
Our preference:
Short positions below 75.00 with targets at 73.65 & 72.60 in extension.
Alternative scenario:
Above 75.00 look for further upside with 75.80 & 76.40 as targets.
Comment:
A break below 73.65 would trigger a drop towards 72.60.
EUR/USD Intraday: the bias remains bullish.
Pivot:
1.1215
Our preference:
Long positions above 1.1215 with targets at 1.1250 & 1.1265 in extension.
Alternative scenario:
Below 1.1215 look for further downside with 1.1200 & 1.1185 as targets.
Comment:
The RSI advocates for further advance.
GBP/USD Intraday: watch 1.3040.
Pivot:
1.3095
Our preference:
Short positions below 1.3095 with targets at 1.3055 & 1.3040 in extension.
Alternative scenario:
Above 1.3095 look for further upside with 1.3110 & 1.3130 as targets.
Comment:
The RSI advocates for further downside.
USD/JPY Intraday: bullish bias above 138.30.
Pivot:
138.30
Our preference:
Long positions above 138.30 with targets at 139.10 & 139.40 in extension.
Alternative scenario:
Below 138.30 look for further downside with 138.00 & 137.70 as targets.
Comment:
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.