Analysis, Comment, Forecast Forex Market for EUR/USD, GBP/USD, USD/CHF, USD/JPY, USD/CAD, AUD/USD!
EUR/USD intraday: intraday support around 1.248.
Pivot: 1.248
My preference: Long positions above 1.248 with targets @ 1.257 & 1.261 in extension.
Alternative scenario: Below 1.248 look for further downside with 1.2435 & 1.24 as targets.
Comment: the pair should pull back on its support ahead of a rebound.
GBP/USD intraday: under pressure.
Pivot: 1.5175
Our preference: Short positions below 1.5175 with targets @ 1.51 & 1.505 in extension.
Alternative scenario: Above 1.5175 look for further upside with 1.523 & 1.5285 as targets.
Comment: the pair is breaking below its support and should face a further weakness as the RSI is badly directed.
USD/CHF intraday: capped by a negative trend line.
Pivot: 1.07
Our preference: Short positions below 1.07 with targets @ 1.058 & 1.05 in extension.
Alternative scenario: Above 1.07 look for further upside with 1.075 & 1.079 as targets.
Comment: the pair remains capped by a MT declining trend line.
USD/JPY intraday: intraday support around 87.5.
Pivot: 87.5
Our preference: Long positions above 87.5 with targets @ 88 & 88.25 in extension.
Alternative scenario: Below 87.5 look for further downside with 87.25 & 86.95 as targets.
Comment: the pair is pulling back on its new support.
USD/CAD intraday: key ST resistance at 1.068.
Pivot: 1.068
Our preference: Short positions below 1.068 with targets @ 1.062 & 1.0575 in extension.
Alternative scenario: Above 1.068 look for further upside with 1.072 & 1.077 as targets.
Comment: the upward potential is likely to be limited by the resistance at
1.068.
AUD/USD intraday: rebound expected.
Pivot: 0.8363
Our preference: Long positions above 0.8363 with targets @ 0.847 & 0.851 in extension.
Alternative scenario: Below 0.8363 look for further downside with 0.8315 & 0.826 as targets.
Comment: the RSI is supported by a rising trend line.
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