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Publish Date: Tue, 25 Jul 2023, 02:51 AM
AUD/USD Intraday: key resistance at 0.6755.
Pivot:
0.6755
Our preference:
Short positions below 0.6755 with targets at 0.6720 & 0.6705 in extension.
Alternative scenario:
Above 0.6755 look for further upside with 0.6770 & 0.6785 as targets.
Comment:
As long as 0.6755 is resistance, look for choppy price action with a bearish bias.
Gold Intraday: under pressure.
Pivot:
1963.00
Our preference:
Short positions below 1963.00 with targets at 1946.00 & 1940.00 in extension.
Alternative scenario:
Above 1963.00 look for further upside with 1968.00 & 1973.00 as targets.
Comment:
The RSI is bearish and calls for further downside.
Crude Oil (WTI) (U3) Intraday: bullish bias above 77.80.
Pivot:
77.80
Our preference:
Long positions above 77.80 with targets at 80.00 & 80.50 in extension.
Alternative scenario:
Below 77.80 look for further downside with 77.25 & 76.50 as targets.
Comment:
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
EUR/USD Intraday: the downside prevails.
Pivot:
1.1090
Our preference:
Short positions below 1.1090 with targets at 1.1040 & 1.1025 in extension.
Alternative scenario:
Above 1.1090 look for further upside with 1.1105 & 1.1120 as targets.
Comment:
The RSI is bearish and calls for further decline.
GBP/USD Intraday: expect 1.2770.
Pivot:
1.2855
Our preference:
Short positions below 1.2855 with targets at 1.2795 & 1.2770 in extension.
Alternative scenario:
Above 1.2855 look for further upside with 1.2880 & 1.2900 as targets.
Comment:
As long as the resistance at 1.2855 is not surpassed, the risk of the break below 1.2795 remains high.
USD/JPY Intraday: bullish bias above 141.00.
Pivot:
141.00
Our preference:
Long positions above 141.00 with targets at 141.95 & 142.30 in extension.
Alternative scenario:
Below 141.00 look for further downside with 140.75 & 140.50 as targets.
Comment:
The RSI calls for a bounce.