EU Session Bullet Report – The Calm Before The Storm

EUR/USD Intraday: further advance.

Pivot: 1.1115

Most likely scenario: long positions above 1.1115 with targets @ 1.124 & 1.131 in extension.

Alternative scenario: below 1.1115 look for further downside with 1.107 & 1.1 as targets.

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

Gold spot Intraday: the upside prevails.

Pivot: 1147.5

Most likely scenario: long positions above 1147.5 with targets @ 1160 & 1166 in extension.

Alternative scenario: below 1147.5 look for further downside with 1141 & 1136.6 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: 32.95

Most likely scenario: short positions below 32.95 with targets @ 31.3 & 30.6 in extension.

Alternative scenario: above 32.95 look for further upside with 33.6 & 34.43 as targets.

Comment: as long as the resistance at 32.95 is not surpassed, the risk of the break below 31.3 remains high.

GBP/USD Intraday: intraday support around 1.451.

Pivot: 1.451

Most likely scenario: long positions above 1.451 with targets @ 1.466 & 1.4715 in extension.

Alternative scenario: below 1.451 look for further downside with 1.448 & 1.444 as targets.

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

USD/JPY Intraday: the downside prevails.

Pivot: 117.35

Most likely scenario: short positions below 117.35 with targets @ 116.2 & 115.6 in extension.

Alternative scenario: above 117.35 look for further upside with 118.25 & 119 as targets.

Comment: the upward potential is likely to be limited by the resistance at 117.35.

AUD/USD Intraday: the bias remains bullish.

Pivot: 0.715

Most likely scenario: long positions above 0.715 with targets @ 0.7245 & 0.728 in extension.