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EU Session – Bullet Report
EUR/USD Intraday: key resistance at 1.0885.
Pivot: 1.0885
Most likely scenario: short positions below 1.0885 with targets @ 1.08 & 1.077 in extension.
Alternative scenario: above 1.0885 look for further upside with 1.0925 & 1.097 as targets.
Comment: as long as 1.0885 is resistance, look for choppy price action with a bearish bias.
Gold spot Intraday: the bias remains bullish.
Pivot: 1110
Most likely scenario: long positions above 1110 with targets @ 1128 & 1135 in extension.
Alternative scenario: below 1110 look for further downside with 1104.5 & 1099 as targets.
Comment: the RSI is mixed to bullish.
Crude Oil (WTI) (H6) Intraday: bullish bias above 32.8.
Pivot: 32.8
Most likely scenario: long positions above 32.8 with targets @ 34.1 & 34.84 in extension.
Alternative scenario: below 32.8 look for further downside with 31.7 & 30.6 as targets.
Comment: a support base at 32.8 has formed and has allowed for a temporary stabilisation.
Pivot: 1.427
Most likely scenario: short positions below 1.427 with targets @ 1.4185 & 1.415 in extension.
Alternative scenario: above 1.427 look for further upside with 1.431 & 1.435 as targets.
Comment: the upward potential is likely to be limited by the resistance at 1.427.
USD/JPY Intraday: the upside prevails.
Pivot: 120.4
Most likely scenario: long positions above 120.4 with targets @ 121.8 & 122.2 in extension.
Alternative scenario: below 120.4 look for further downside with 119.7 & 119.05 as targets.
Comment: technically the RSI is above its neutrality area at 50.
AUD/USD Intraday: under pressure.
Pivot: 0.711
Most likely scenario: short positions below 0.711 with targets @ 0.703 & 0.7 in extension.
Alternative scenario: above 0.711 look for further upside with 0.714 & 0.7175 as targets.
Comment: the RSI lacks upward momentum.
Dax (Eurex) (H6) Intraday: key resistance at 9930.
Pivot: 9930
Most likely scenario: short positions below 9930 with targets @ 9560 & 9440 in extension.
Alternative scenario: above 9930 look for further upside with 10000 & 10090 as targets.
Comment: the RSI lacks upward momentum.
USD/CHF Intraday: the bias remains bullish.
Pivot: 1.019
Most likely scenario: long positions above 1.019 with targets @ 1.025 & 1.029 in extension.
Alternative scenario: below 1.019 look for further downside with 1.016 & 1.012 as targets.
Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
USD/CAD Intraday: bullish bias above 1.395.
Pivot: 1.395
Most likely scenario: long positions above 1.395 with targets @ 1.412 & 1.416 in extension.
Alternative scenario: below 1.395 look for further downside with 1.3895 & 1.386 as targets.
Comment: a support base at 1.395 has formed and has allowed for a temporary stabilisation.
EUR/JPY Intraday: the upside prevails.
Pivot: 130.2
Most likely scenario: long positions above 130.2 with targets @ 132.3 & 132.85 in extension.
Alternative scenario: below 130.2 look for further downside with 129.5 & 129.05 as targets.
Comment: the RSI is bullish and calls for further upside.
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