Previous Story
Bullet Report | A Dead Cat Bounce in the Markets
EUR/USD Intraday: the upside prevails.
Pivot: 1.082
Most likely scenario: long positions above 1.082 with targets @ 1.0895 & 1.092 in extension.
Alternative scenario: below 1.082 look for further downside with 1.0785 & 1.077 as targets.
Comment: The pair is trading within a bullish channel.
Gold spot Intraday: further upside.
Pivot: 1106.5
Most likely scenario: long positions above 1106.5 with targets @ 1123 & 1128 in extension.
Alternative scenario: below 1106.5 look for further downside with 1099.3 & 1093.5 as targets.
Comment: the RSI is supported by a bullish trend line.
Crude Oil (WTI) (H6) Intraday: under pressure.
Pivot: 30.5
Most likely scenario: short positions below 30.5 with targets @ 29.1 & 28.46 in extension.
Alternative scenario: above 30.5 look for further upside with 31.75 & 32.7 as targets.
Comment: the RSI lacks upward momentum.
GBP/USD Intraday: under pressure.
Pivot: 1.4285
Most likely scenario: short positions below 1.4285 with targets @ 1.42 & 1.4165 in extension.
Alternative scenario: above 1.4285 look for further upside with 1.431 & 1.436 as targets.
Comment: the RSI is badly directed.
USD/JPY Intraday: the downside prevails.
Pivot: 118.85
Most likely scenario: short positions below 118.85 with targets @ 117.5 & 117.05 in extension.
Alternative scenario: above 118.85 look for further upside with 119.2 & 119.6 as targets.
Comment: the RSI is mixed to bearish.
AUD/USD Intraday: the downside prevails.
Pivot: 0.6995
Most likely scenario: short positions below 0.6995 with targets @ 0.6925 & 0.688 in extension.
Alternative scenario: above 0.6995 look for further upside with 0.7025 & 0.7045 as targets.
Comment: a break below 0.6925 would trigger a drop towards 0.688.
Dax (Eurex) (H6) Intraday: consolidation in place.
Pivot: 9765
Most likely scenario: short positions below 9765 with targets @ 9508 & 9425 in extension.
Alternative scenario: above 9765 look for further upside with 9850 & 9940 as targets.
Comment: the RSI is bearish and calls for further downside.
USD/CHF Intraday: bullish bias above 1.011.
Pivot: 1.011
Most likely scenario: long positions above 1.011 with targets @ 1.0175 & 1.0215 in extension.
Alternative scenario: below 1.011 look for further downside with 1.0065 & 1.0025 as targets.
Comment: a support base at 1.011 has formed and has allowed for a temporary stabilisation.
USD/CAD Intraday: the upside prevails.
Pivot: 1.4215
Most likely scenario: long positions above 1.4215 with targets @ 1.433 & 1.44 in extension.
Alternative scenario: below 1.4215 look for further downside with 1.4165 & 1.411 as targets.
Comment: the RSI is well directed.
EUR/JPY Intraday: bullish bias above 127.9.
Pivot: 127.9
Most likely scenario: long positions above 127.9 with targets @ 128.55 & 128.8 in extension.
Alternative scenario: below 127.9 look for further downside with 127.5 & 127.1 as targets.
Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
The post Bullet Report | A Dead Cat Bounce in the Markets appeared first on Forex.Info.
