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Publish Date: Tue, 01 Aug 2023, 04:09 AM
Crude Oil (WTI) (U3) Intraday: watch 83.00.
Pivot:
81.00
Our preference:
Long positions above 81.00 with targets at 82.40 & 83.00 in extension.
Alternative scenario:
Below 81.00 look for further downside with 80.50 & 80.10 as targets.
Comment:
The RSI is bullish and calls for further upside.
EUR/USD Intraday: under pressure.
Pivot:
1.1025
Our preference:
Short positions below 1.1025 with targets at 1.0965 & 1.0940 in extension.
Alternative scenario:
Above 1.1025 look for further upside with 1.1050 & 1.1075 as targets.
Comment:
The RSI lacks upward momentum.
Gold Intraday: bullish bias above 1956.00.
Pivot:
1956.00
Our preference:
Long positions above 1956.00 with targets at 1972.00 & 1981.00 in extension.
Alternative scenario:
Below 1956.00 look for further downside with 1949.00 & 1942.00 as targets.
Comment:
The next resistances are at 1972.00 and then at 1981.00.
GBP/USD Intraday: key resistance at 1.2870.
Pivot:
1.2870
Our preference:
Short positions below 1.2870 with targets at 1.2800 & 1.2770 in extension.
Alternative scenario:
Above 1.2870 look for further upside with 1.2900 & 1.2935 as targets.
Comment:
As long as the resistance at 1.2870 is not surpassed, the risk of the break below 1.2800 remains high.
USD/JPY Intraday: further upside.
Pivot:
141.65
Our preference:
Long positions above 141.65 with targets at 142.65 & 143.10 in extension.
Alternative scenario:
Below 141.65 look for further downside with 141.15 & 140.70 as targets.
Comment:
The RSI lacks downward momentum.
AUD/USD Intraday: consolidation.
Pivot:
0.6695
Our preference:
Long positions above 0.6695 with targets at 0.6740 & 0.6765 in extension.
Alternative scenario:
Below 0.6695 look for further downside with 0.6675 & 0.6655 as targets.
Comment:
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.