Pivot: 1.3355
Most Likely Scenario: Short positions below 1.3355 with targets @ 1.327 & 1.3245 in extension.
Alternative scenario: Above 1.3355 look for further upside with 1.34 & 1.3435 as targets.
Comment: as long as 1.3355 is resistance, look for choppy price action with a bearish bias.
GBP/USD INTRADAY: CAPPED BY A NEGATIVE TREND LINE.
Pivot: 1.588
Most Likely Scenario: Short positions below 1.588 with targets @ 1.58 & 1.5765 in extension.
Alternative scenario: Above 1.588 look for further upside with 1.592 & 1.597 as targets.
Comment: as long as 1.588 is resistance, likely decline to 1.58.
USD/JPY INTRADAY: FURTHER ADVANCE.
Pivot: 88.7
Most Likely Scenario: Long positions above 88.7 with targets @ 89.85 & 90.2 in extension.
Alternative scenario: Below 88.7 look for further downside with 88.35 & 88 as targets.
Comment: the RSI broke above a declining trend line.
AUD/USD INTRADAY: THE DOWNSIDE PREVAILS.
Pivot: 1.055
Most Likely Scenario: Short positions below 1.055 with targets @ 1.0485 & 1.0465 in extension.
Alternative scenario: Above 1.055 look for further upside with 1.0575 & 1.06 as targets.
Comment: the pair is trading in an intraday bearish channel.
Thanx man. been a while
ReplyDeleteAccompanying the currency pair is the quota, or bid/ask price. This is expressed in the following format: EUR/USD : 1.2836 1.2839. The first number in the series represents the bid price, the cost of selling the Euro against the Dollar, or going ‘short' on the Euro. The second number is the ask price, the cost of buying the Euro against the dollar, or going ‘long’ on the Euro. The difference between the bid/ask price is called the pip spread.
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