EU Session Bullet Report – EURUSD is set for its 3rd day of gains

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Green lines are resistance, Red lines are support.

EUR/USD

GBP/USD

Pivot: 1.483

Likely scenario: long positions above 1.483 with targets @ 1.491 & 1.495 in extension.

Alternative scenario: below 1.483 look for further downside with 1.48 & 1.476 as targets.

Comment: the RSI lacks downward momentum.

AUD/USD

Pivot: 0.7205

Likely scenario: long positions above 0.7205 with targets @ 0.728 & 0.7315 in extension.

USD/JPY

Pivot: 121.15

Likely scenario: short positions below 121.15 with targets @ 120.3 & 120.1 in extension.

Alternative scenario: above 121.15 look for further upside with 121.5 & 121.75 as targets.

Comment: as long as 121.15 is resistance, look for choppy price action with a bearish bias.

USD/CAD

Pivot: 1.391

Likely scenario: short positions below 1.391 with targets @ 1.381 & 1.377 in extension.

Alternative scenario: above 1.391 look for further upside with 1.395 & 1.4 as targets.

Comment: the break below 1.391 is a negative signal that has opened a path to 1.381.

GOLD

Pivot: 1076

Likely scenario: short positions below 1076 with targets @ 1067 & 1064 in extension.

Alternative scenario: above 1076 look for further upside with 1081.5 & 1089 as targets.

Comment: the upward potential is likely to be limited by the resistance at 1076.

OIL

Pivot: 36.95

Likely scenario: long positions above 36.95 with targets @ 38.07 & 38.45 in extension.

Alternative scenario: below 36.95 look for further downside with 36.55 & 36.03 as targets.

Comment: the RSI is supported by a rising trend line.

DAX

Pivot: 10830

Likely scenario: as long as 10830 is not broken up, we favour a down move with 10120 and then 9850 as next targets.

Alternative scenario: only the upside breakout of 10830 will invalidate our bearish scenario. In this case, a recovery should shape towards 11430 at first, and then 11800.

Comment: the RSI is below its neutrality area at 50%

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TIME IS IN GMT(+2)

Report prepared by the easy-forex VIP desk 07:30 GMT.

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