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Publish Date: Thu, 05 Oct 2023, 02:31 AM
Crude Oil (WTI) (X3) Intraday: the downside prevails.
Pivot:
85.50
Our preference:
Short positions below 85.50 with targets at 83.50 & 82.45 in extension.
Alternative scenario:
Above 85.50 look for further upside with 86.90 & 87.80 as targets.
Comment:
The RSI has broken down its 30 level.
EUR/USD Intraday: bullish bias above 1.0480.
Pivot:
1.0480
Our preference:
Long positions above 1.0480 with targets at 1.0530 & 1.0545 in extension.
Alternative scenario:
Below 1.0480 look for further downside with 1.0465 & 1.0450 as targets.
Comment:
The RSI calls for a bounce.
GBP/USD Intraday: the bias remains bullish.
Pivot:
1.2105
Our preference:
Long positions above 1.2105 with targets at 1.2160 & 1.2175 in extension.
Alternative scenario:
Below 1.2105 look for further downside with 1.2090 & 1.2070 as targets.
Comment:
Technically the RSI is above its neutrality area at 50.
AUD/USD Intraday: bullish bias above 0.6305.
Pivot:
0.6305
Our preference:
Long positions above 0.6305 with targets at 0.6345 & 0.6365 in extension.
Alternative scenario:
Below 0.6305 look for further downside with 0.6285 & 0.6270 as targets.
Comment:
The RSI advocates for further advance.
USD/JPY Intraday: choppy.
Pivot:
149.30
Our preference:
Short positions below 149.30 with targets at 148.70 & 148.50 in extension.
Alternative scenario:
Above 149.30 look for further upside with 149.50 & 149.70 as targets.
Comment:
As long as 149.30 is resistance, look for choppy price action with a bearish bias.
Gold Intraday: intraday support around 1815.00.
Pivot:
1815.00
Our preference:
Long positions above 1815.00 with targets at 1827.00 & 1833.00 in extension.
Alternative scenario:
Below 1815.00 look for further downside with 1810.00 & 1805.00 as targets.
Comment:
A support base at 1815.00 has formed and has allowed for a temporary stabilisation.