FOREX Technical Analysis
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Technical analysts believe that the historical performance of markets are indications of future performance. In a shopping mall, a fundamental analyst would go to each store, study the product that was being sold, and then decide whether to buy it or not. By contrast, a technical analyst would sit on a bench in the mall and watch people go into the stores. Disregarding the intrinsic value of the p
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Ø Gold: caution with Pivot: 1136
Our preference: Short positions below 1136 with targets @ 1121 & 1116 in extension.
Alternative scenario: Above 1136 look for further upside with 1142 & 1148 as targets.
Comment: Intraday technical indicators are mixed and call for caution.
Key Levels:
1148
1142
1136
1134.08 Last
1121
1116
1109
Ø EUR/USD the bias remains bullish with Pivot: 1.1105
Our preference: Long positions above 1.1105 with targets @ 1.1255 & 1.132 in extension.
Alternative scenario: Below 1.1105 look for further downside with 1.102 & 1.097 as targets.
Comment: The RSI has just landed on its neutrality area at 50% and is turning up.
Key Levels:
1.1385 ***
1.132 **
1.1255 ***
1.1190 Last
1.1105 ***
1.102 ***
1.097 **
Ø GBP/USD under pressure with Pivot: 1.531
Our preference: Short positions below 1.531 with targets @ 1.52 & 1.515 in extension.
Alternative scenario: Above 1.531 look for further upside with 1.538 & 1.543 as targets.
Comment: As long as 1.531 is resistance, look for choppy price action with a bearish bias.
Key Levels:
1.543 ***
1.538 ***
1.531 ***
1.5260 Last
1.52 **
1.515 ***
1.509 ***
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Ø Gold: capped by a negative trend line with Pivot: 1136
Our preference: Short positions below 1136 with targets @ 1121 & 1116 in extension.
Alternative scenario: Above 1136 look for further upside with 1142 & 1148 as targets.
Comment: Even though a continuation of the technical rebound cannot be ruled out, its extent should be limited.
Key Levels:
1148
1142
1136
1128 Last
1121
1116
1109
Ø EUR/USD the downside prevails with Pivot: 1.118
Our preference: Short positions below 1.118 with targets @ 1.1105 & 1.102 in extension.
Alternative scenario: Above 1.118 look for further upside with 1.1255 & 1.132 as targets.
Comment: As long as the resistance at 1.118 is not surpassed, the risk of the break below 1.1105 remains hig
Key Levels:
1.132 ***
1.1255 **
1.118 ***
1.1160 Last
1.1105 ***
1.102 ***
1.097 **
Ø GBP/USD under pressure with Pivot: 1.54
Our preference: Short positions below 1.54 with targets @ 1.524 & 1.52 in extension.
Alternative scenario: Above 1.54 look for further upside with 1.546 & 1.553 as targets.
Comment: The RSI is badly directed.
Key Levels:
1.553 ***
1.546 **
1.54 ***
1.5297 Last
1.524 ***
1.52 **
1.5155 ***
WELCOME TO SVFX (Technical Signals for intraday)
Ø Gold: capped by a negative trend line with Pivot: 1136
Our preference: Short positions below 1136 with targets @ 1116 & 1109 in extension.
Alternative scenario: Above 1136 look for further upside with 1142 & 1148 as targets.
Comment: The RSI is capped by a bearish trend line.
Key Levels:
1148
1142
1136
1123.67 Last
1116
1109
1103
Ø EUR/USD the downside prevails with Pivot: 1.118
Our preference: Short positions below 1.118 with targets @ 1.108 & 1.102 in extension.
Alternative scenario: Above 1.118 look for further upside with 1.1255 & 1.132 as targets.
Comment: As long as the resistance at 1.118 is not surpassed, the risk of the break below 1.108 remains high.
Key Levels:
1.132 ***
1.1255 **
1.118 ***
1.1135 Last
1.108 **
1.102 ***
1.097 **
Ø GBP/USD under pressure with Pivot: 1.54
Our preference: Short positions below 1.54 with targets @ 1.529 & 1.524 in extension.
Alternative scenario: Above 1.54 look for further upside with 1.546 & 1.553 as targets.
Comment: The RSI is badly directed.
Key Levels:
1.553 ***
1.546 **
1.54 ***
1.5345 Last
1.529 ***
1.524 **
1.52 **
WELCOME TO SVFX (Technical Signals for intraday)
Ø Gold: capped by a negative trend line with Pivot: 1136
Our preference: Short positions below 1136 with targets @ 1124.5 & 1116 in extension.
Alternative scenario: Above 1136 look for further upside with 1142 & 1148 as targets.
Comment: The RSI is bearish and calls for further downside.
Key Levels:
1148
1142
1136
1127.7 Last
1124.5
1116
1109
Ø EUR/USD the downside prevails with Pivot: 1.122
Our preference: Short positions below 1.122 with targets @ 1.115 & 1.112 in extension.
Alternative scenario: Above 1.122 look for further upside with 1.1255 & 1.132 as targets.
Comment: The pair has validated a bearish flag pattern and remains on the downside.
Key Levels:
1.132 ***
1.1255 **
1.122 ***
1.1161 Last
1.115 **
1.112 **
1.108 ***
Ø GBP/USD under pressure with Pivot: 1.553
Our preference: Short positions below 1.553 with targets @ 1.539 & 1.533 in extension.
Alternative scenario: Above 1.553 look for further upside with 1.557 & 1.561 as targets.
Comment: The RSI is badly directed.
Key Levels:
1.561 **
1.557 **
1.553 **
1.5437 Last
1.539 **
1.533 ***
1.529 ***
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Ø Gold: break of a ST rising trendline support with Pivot: 1142
Our preference: Short positions below 1142 with targets @ 1127 & 1124.5 in extension.
Alternative scenario: Above 1142 look for further upside with 1147 & 1150.9 as targets.
Comment: As long as 1142 is resistance, likely decline to 1127.
Key Levels:
1150.9
1147
1142
1133.22 Last
1127
1124.5
1116
Ø EUR/USD the downside prevails with Pivot: 1.1255
Our preference: Short positions below 1.1255 with targets @ 1.115 & 1.112 in extension.
Alternative scenario: Above 1.1255 look for further upside with 1.132 & 1.1355 as targets.
Comment: The pair has validated a bearish flag pattern and remains on the downside.
Key Levels:
1.1355 ***
1.132 **
1.1255 ***
1.1200 Last
1.115 **
1.112 **
1.108 ***
Ø GBP/USD key resistance with Pivot: 1.557
Our preference: Short positions below 1.557 with targets @ 1.545 & 1.539 in extension.
Alternative scenario: Above 1.557 look for further upside with 1.566 & 1.572 as targets.
Comment: As long as the resistance at 1.557 is not surpassed, the risk of the break below 1.545 remains high.
Key Levels:
1.572 **
1.566 **
1.557 *
1.5513 Last
1.545 ***
1.539 **
1.533 **
WELCOME TO SVFX (Technical Signals for intraday)
Ø Gold: bullish bias with Pivot: 1132
Our preference: Long positions above 1132 with targets @ 1143 & 1147 in extension.
Alternative scenario: Below 1132 look for further downside with 1124.5 & 1116.7 as targets.
Comment: A support base at 1132 has formed and has allowed for a temporary stabilisation.
Key Levels:
1150.9
1147
1143
1137.61 Last
1132
1124.5
1116.7
Ø EUR/USD under pressure with Pivot: 1.133
Our preference: Short positions below 1.133 with targets @ 1.124 & 1.121 in extension.
Alternative scenario: Above 1.133 look for further upside with 1.1355 & 1.139 as targets.
Comment: The RSI is bearish and calls for further downside.
Key Levels:
1.139 ***
1.1355 **
1.133 ***
1.1269 Last
1.124 **
1.121 **
1.118 ***
Ø GBP/USD under pressure with Pivot: 1.559
Our preference: Short positions below 1.559 with targets @ 1.549 & 1.545 in extension.
Alternative scenario: Above 1.559 look for further upside with 1.566 & 1.572 as targets.
Comment: The RSI is badly directed.
Key Levels:
1.572 **
1.566 **
1.559 *
1.5526 Last
1.549 ***
1.545 **
1.539 **
WELCOME TO SVFX (Technical Signals for intraday)
Ø Gold: bullish bias with Pivot: 1132
Our preference: Long positions above 1132 with targets @ 1143 & 1147 in extension.
Alternative scenario: Below 1132 look for further downside with 1124.5 & 1116.7 as targets.
Comment: A support base at 1132 has formed and has allowed for a temporary stabilisation.
Key Levels:
1150.9
1147
1143
1137.61 Last
1132
1124.5
1116.7
Ø EUR/USD under pressure with Pivot: 1.1355
Our preference: Short positions below 1.1355 with targets @ 1.1265 & 1.124 in extension.
Alternative scenario: Above 1.1355 look for further upside with 1.139 & 1.141 as targets.
Comment: The RSI is bearish and calls for further downside.
Key Levels:
1.141 **
1.139 **
1.1355 ***
1.1316 Last
1.1265 **
1.124 **
1.121 **
Ø GBP/USD under pressure with Pivot: 1.559
Our preference: Short positions below 1.559 with targets @ 1.549 & 1.545 in extension.
Alternative scenario: Above 1.559 look for further upside with 1.566 & 1.572 as targets.
Comment: The RSI is bearish and calls for further downside.
Key Levels:
1.572 **
1.566 **
1.559 *
1.5537 Last
1.549 ***
1.545 **
1.539 **
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Ø Gold: further advance with Pivot: 1123
Our preference: Long positions above 1123 with targets @ 1136.5 & 1140 in extension.
Alternative scenario: Below 1123 look for further downside with 1119 & 1115 as targets.
Comment: The RSI is mixed to bullish.
Key Levels:
1143
1140
1136.5
1128.75 Last
1123
1119
1115
Ø EUR/USD the upside prevails with Pivot: 1.134
Our preference: Long positions above 1.134 with targets @ 1.144 & 1.1495 in extension.
Alternative scenario: Below 1.134 look for further downside with 1.129 & 1.1255 as targets.
Comment: The RSI lacks downward momentum.
Key Levels:
1.153 **
1.1495 **
1.144 ***
1.1404 Last
1.134 ***
1.129 **
1.1255 **
Ø GBP/USD the bias remains bullish with Pivot: 1.549
Our preference: Long positions above 1.549 with targets @ 1.563 & 1.568 in extension.
Alternative scenario: Below 1.549 look for further downside with 1.545 & 1.54 as targets.
Comment: The RSI is mixed to bullish.
Key Levels:
1.572 **
1.568 **
1.563 ***
1.5572 Last
1.549 ***
1.545 **
1.54 **
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Ø Gold: bullish bias with Pivot: 1115
Our preference: Long positions above 1115 with targets @ 1124 & 1127 in extension.
Alternative scenario: Below 1115 look for further downside with 1112 & 1107 as targets.
Comment: Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
Key Levels:
1131
1127
1124
1116.5 Last
1115
1112
1107
Ø EUR/USD the upside prevails with Pivot: 1.127
Our preference: Long positions above 1.127 with targets @ 1.137 & 1.1395 in extension.
Alternative scenario: Below 1.127 look for further downside with 1.121 & 1.118 as targets.
Comment: The RSI is bullish and calls for further upside
Key Levels:
1.1415 **
1.1395 ***
1.137 *
1.1319 Last
1.127 ***
1.121 **
1.118 **
Ø GBP/USD further upside with Pivot: 1.545
Our preference: Long positions above 1.545 with targets @ 1.5555 & 1.56 in extension.
Alternative scenario: Below 1.545 look for further downside with 1.541 & 1.533 as targets.
Comment: The RSI is bullish and calls for further upside.
Key Levels:
1.5675 **
1.56 **
1.5555 **
1.5520 Last
1.545 ***
1.541 ***
1.533 **
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Ø Gold: further advance with Pivot: 1115
Our preference: Long positions above 1115 with targets @ 1125 & 1127 in extension.
Alternative scenario: Below 1115 look for further downside with 1112 & 1107 as targets.
Comment: The RSI is supported by a rising trend line.
Key Levels:
1131
1127
1125
1120.03 Last
1115
1112
1107
Ø EUR/USD the upside prevails with Pivot: 1.1265
Our preference: Long positions above 1.1265 with targets @ 1.133 & 1.137 in extension.
Alternative scenario: Below 1.1265 look for further downside with 1.121 & 1.118 as targets.
Comment: The RSI is mixed with a bullish bias. The pair has broken above the upper boundary of a bearish channel and remains on the upside.
Key Levels:
1.1415 **
1.137 ***
1.133 *
1.1297 Last
1.1265 ***
1.121 **
1.118 **
Ø GBP/USD the upside prevails with Pivot: 1.541
Our preference: Long positions above 1.541 with targets @ 1.5555 & 1.56 in extension.
Alternative scenario: Below 1.541 look for further downside with 1.533 & 1.529 as targets.
Comment: The RSI is mixed to bullish.
Key Levels:
1.5675 **
1.56 **
1.5555 **
1.5505 Last
1.541 ***
1.533 ***
1.529 **
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Ø Gold: caution with Pivot: 1110
Our preference: Short positions below 1110 with targets @ 1103 & 1098 in extension.
Alternative scenario: Above 1110 look for further upside with 1115 & 1119 as targets.
Comment: Intraday technical indicators are mixed and call for caution.
Key Levels:
1119
1115
1110
1107.84 Last
1103
1098
1094
Ø EUR/USD the downside prevails with Pivot: 1.13
Our preference: Short positions below 1.13 with targets @ 1.118 & 1.1145 in extension.
Alternative scenario: Above 1.13 look for further upside with 1.1335 & 1.137 as targets.
Comment: The RSI is bearish and calls for further downside.
Key Levels:
1.137 **
1.1335 **
1.13 ***
1.1235 Last
1.118 *
1.1145 **
1.112 **
Ø GBP/USD turning up with Pivot: 1.536
Our preference: Long positions above 1.536 with targets @ 1.545 & 1.5475 in extension.
Alternative scenario: Below 1.536 look for further downside with 1.5325 & 1.529 as targets.
Comment: The RSI broke above a bearish trend line.
Key Levels:
1.551 **
1.5475 **
1.545 **
1.5411 Last
1.536 ***
1.5325 ***
1.529 **
WELCOME TO SVFX (Technical Signals for intraday)
Ø Gold: capped by a negative trend line with Pivot: 1110
Our preference: Short positions below 1110 with targets @ 1098 & 1094 in extension.
Alternative scenario: Above 1110 look for further upside with 1116 & 1119 as targets.
Comment: As long as 1110 is resistance, likely decline to 1098.
Key Levels:
1119
1116
1110
1104.48 Last
1098
1094
1087.6
Ø EUR/USD key resistance with Pivot: 1.1335
Our preference: Short positions below 1.1335 with targets @ 1.125 & 1.121 in extension.
Alternative scenario: Above 1.1335 look for further upside with 1.137 & 1.14 as targets.
Comment: Even though a continuation of the technical rebound cannot be ruled out, its extent should be limited.
Key Levels:
1.14 **
1.137 **
1.1335 ***
1.1293 Last
1.125 *
1.121 **
1.118 **
Ø GBP/USD key resistance with Pivot: 1.5395
Our preference: Short positions below 1.5395 with targets @ 1.529 & 1.525 in extension.
Alternative scenario: Above 1.5395 look for further upside with 1.545 & 1.55 as targets.
Comment: As long as 1.5395 is resistance, look for choppy price action with a bearish bias.
Key Levels:
1.55 **
1.545 **
1.5395 ***
1.5353 Last
1.529 **
1.525 ***
1.52 **
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