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Publish Date: Thu, 19 Oct 2023, 06:18 AM
Gold Intraday: the bias remains bullish.
Pivot:
1938.00
Our preference:
Long positions above 1938.00 with targets at 1962.00 & 1969.00 in extension.
Alternative scenario:
Below 1938.00 look for further downside with 1931.00 & 1924.00 as targets.
Comment:
The RSI has just landed on its neutrality area at 50% and is turning up.
Crude Oil (WTI) (Z3) Intraday: key resistance at 87.75.
Pivot:
87.75
Our preference:
Short positions below 87.75 with targets at 86.70 & 86.25 in extension.
Alternative scenario:
Above 87.75 look for further upside with 88.55 & 89.00 as targets.
Comment:
As long as 87.75 is resistance, look for choppy price action with a bearish bias.
EUR/USD Intraday: the downside prevails.
Pivot:
1.0555
Our preference:
Short positions below 1.0555 with targets at 1.0520 & 1.0505 in extension.
Alternative scenario:
Above 1.0555 look for further upside with 1.0570 & 1.0585 as targets.
Comment:
The RSI calls for a new downleg.
GBP/USD Intraday: under pressure.
Pivot:
1.2170
Our preference:
Short positions below 1.2170 with targets at 1.2120 & 1.2100 in extension.
Alternative scenario:
Above 1.2170 look for further upside with 1.2190 & 1.2210 as targets.
Comment:
The RSI advocates for further decline.
AUD/USD Intraday: the downside prevails.
Pivot:
0.6360
Our preference:
Short positions below 0.6360 with targets at 0.6300 & 0.6285 in extension.
Alternative scenario:
Above 0.6360 look for further upside with 0.6375 & 0.6390 as targets.
Comment:
The RSI is bearish and calls for further downside.
USD/JPY Intraday: bullish bias above 149.60.
Pivot:
149.60
Our preference:
Long positions above 149.60 with targets at 150.00 & 150.15 in extension.
Alternative scenario:
Below 149.60 look for further downside with 149.45 & 149.30 as targets.
Comment:
Technically the RSI is above its neutrality area at 50.