EU Session – Bullet Report – Technical Analysis

EUR/USD Intraday: the upside prevails.

Pivot: 1.087

Most likely scenario: long positions above 1.087 with targets @ 1.0925 & 1.094 in extension.

Alternative scenario: below 1.087 look for further downside with 1.0835 & 1.081 as targets.

Comment: the RSI lacks downward momentum.

Gold spot Intraday: the bias remains bullish.

Pivot: 1118

Most likely scenario: long positions above 1118 with targets @ 1133 & 1138.5 in extension.

Alternative scenario: below 1118 look for further downside with 1111 & 1104.5 as targets.

Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

Crude Oil (WTI) (H6) Intraday: under pressure.

Pivot: 32.66

Most likely scenario: short positions below 32.66 with targets @ 30.7 & 30.12 in extension.

Alternative scenario: above 32.66 look for further upside with 33.38 & 34.4 as targets.

Comment: as long as the resistance at 32.66 is not surpassed, the risk of the break below 30.7 remains high.

GBP/USD Intraday: bullish bias above 1.432.

Pivot: 1.432

Most likely scenario: long positions above 1.432 with targets @ 1.4475 & 1.4535 in extension.

Alternative scenario: below 1.432 look for further downside with 1.4245 & 1.4185 as targets.

Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

USD/JPY Intraday: key resistance at 121.7.

Pivot: 121.7

Most likely scenario: short positions below 121.7 with targets @ 119.6 & 119 in extension.

Alternative scenario: above 121.7 look for further upside with 122.2 & 122.7 as targets.

Comment: the RSI is capped by a declining trend line.

AUD/USD Intraday: bullish bias above 0.706.

Pivot: 0.706

Most likely scenario: long positions above 0.706 with targets @ 0.712 & 0.714 in extension.

Alternative scenario: below 0.706 look for further downside with 0.703 & 0.7 as targets.