Pre US Open, Daily Technical Analysis Monday, April 29, 2019
EUR/USD Intraday: the bias remains bullish.
Pivot: 1.1145
Most Likely Scenario: long positions above 1.1145 with targets at 1.1175 & 1.1190 in extension. Alternative scenario: below 1.1145 look for further downside with 1.1130 & 1.1120 as targets.
Comment: the RSI shows upside momentum.
GBP/USD Intraday: the bias remains bullish.
Pivot: 1.2915
Most Likely Scenario: long positions above 1.2915 with targets at 1.2960 & 1.2975 in extension.
Alternative scenario: below 1.2915 look for further downside with 1.2895 & 1.2865 as targets.
Comment: the RSI shows upside momentum.
USD/JPY Intraday: continuation of the rebound.
Pivot: 111.50
Most Likely Scenario: long positions above 111.50 with targets at 111.85 & 112.05 in extension. Alternative scenario: below 111.50 look for further downside with 111.35 & 111.20 as targets.
Comment: the RSI shows upside momentum.
AUD/USD Intraday: the bias remains bullish.
Pivot: 0.7035
Most Likely Scenario: long positions above 0.7035 with targets at 0.7080 & 0.7100 in extension. Alternative scenario: below 0.7035 look for further downside with 0.7020 & 0.7005 as targets.
Comment: the RSI is mixed to bullish.
Gold spot Intraday: towards 1276.50.
Pivot: 1286.50
Most Likely Scenario: short positions below 1286.50 with targets at 1279.00 & 1276.50 in extension. Alternative scenario: above 1286.50 look for further upside with 1288.50 & 1290.00 as targets.
Comment: the RSI is bearish and calls for further downside.
Crude Oil (WTI) (M9) Intraday: the downside prevails.
Pivot: 63.45
Most Likely Scenario: short positions below 63.45 with targets at 62.30 & 61.95 in extension. Alternative scenario: above 63.45 look for further upside with 63.80 & 64.35 as targets.
Comment: the RSI calls for a new downleg.
Pivot: 1.1145
Most Likely Scenario: long positions above 1.1145 with targets at 1.1175 & 1.1190 in extension. Alternative scenario: below 1.1145 look for further downside with 1.1130 & 1.1120 as targets.
Comment: the RSI shows upside momentum.
GBP/USD Intraday: the bias remains bullish.
Pivot: 1.2915
Most Likely Scenario: long positions above 1.2915 with targets at 1.2960 & 1.2975 in extension.
Alternative scenario: below 1.2915 look for further downside with 1.2895 & 1.2865 as targets.
Comment: the RSI shows upside momentum.
USD/JPY Intraday: continuation of the rebound.
Pivot: 111.50
Most Likely Scenario: long positions above 111.50 with targets at 111.85 & 112.05 in extension. Alternative scenario: below 111.50 look for further downside with 111.35 & 111.20 as targets.
Comment: the RSI shows upside momentum.
AUD/USD Intraday: the bias remains bullish.
Pivot: 0.7035
Most Likely Scenario: long positions above 0.7035 with targets at 0.7080 & 0.7100 in extension. Alternative scenario: below 0.7035 look for further downside with 0.7020 & 0.7005 as targets.
Comment: the RSI is mixed to bullish.
Gold spot Intraday: towards 1276.50.
Pivot: 1286.50
Most Likely Scenario: short positions below 1286.50 with targets at 1279.00 & 1276.50 in extension. Alternative scenario: above 1286.50 look for further upside with 1288.50 & 1290.00 as targets.
Comment: the RSI is bearish and calls for further downside.
Crude Oil (WTI) (M9) Intraday: the downside prevails.
Pivot: 63.45
Most Likely Scenario: short positions below 63.45 with targets at 62.30 & 61.95 in extension. Alternative scenario: above 63.45 look for further upside with 63.80 & 64.35 as targets.
Comment: the RSI calls for a new downleg.