EU Session Bullet Report – GOLD surges $30 after NFP

EUR/USD Intraday: key resistance at 1.1180.

Pivot: 1.1180

Most likely scenario: short positions below 1.1180 with targets @ 1.1070 & 1.1030 in extension.

Alternative scenario: above 1.1180 look for further upside with 1.1240 & 1.1310 as targets.

Comment: the RSI is bearish and calls for further downside.

Gold spot Intraday: the upside prevails.

Pivot: 1158.00

Most likely scenario: long positions above 1158.00 with targets @ 1181.00 & 1188.00 in extension.

Alternative scenario: below 1158.00 look for further downside with 1145.00 & 1139.50 as targets.

Comment: the RSI lacks downward momentum.

Crude Oil (WTI) (H6) Intraday: under pressure.

Pivot: 32.45

Most likely scenario: short positions below 32.45 with targets @ 30.36 & 30.00 in extension.

Alternative scenario: above 32.45 look for further upside with 33.60 & 34.43 as targets.

Comment: the RSI is bearish and calls for further downside.

GBP/USD Intraday: under pressure.

Pivot: 1.4570

Most likely scenario: short positions below 1.4570 with targets @ 1.4440 & 1.4380 in extension.

Alternative scenario: above 1.4570 look for further upside with 1.4610 & 1.4660 as targets.

Comment: as long as the resistance at 1.4570 is not surpassed, the risk of the break below 1.4440 remains high.

USD/JPY Intraday: the bias remains bullish.

Pivot: 116.80

Most likely scenario: long positions above 116.80 with targets @ 117.80 & 118.25 in extension.

Alternative scenario: below 116.80 look for further downside with 116.30 & 116.00 as targets.

Comment: The 116 daily strong supports is expected to favour a rebound. The 20 and 50-period moving averages crossed upward.

AUD/USD Intraday: under pressure.

Pivot: 0.7150

Most likely scenario: short positions below 0.7150 with targets @ 0.7040 & 0.7000 in extension.

Alternative scenario: above 0.7150 look for further upside with 0.7210 & 0.7245 as targets.

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

Dax (Eurex) (H6) Intraday: the downside prevails.

Pivot: 9580.00

Most likely scenario: short positions below 9580.00 with targets @ 9160.00 & 9000.00 in extension.

Alternative scenario: above 9580.00 look for further upside with 9795.00 & 9920.00 as targets.

Comment: the RSI is bearish and calls for further decline.

USD/CHF Intraday: under pressure.

Pivot: 0.9985

Most likely scenario: short positions below 0.9985 with targets @ 0.9875 & 0.9840 in extension.

Alternative scenario: above 0.9985 look for further upside with 1.0035 & 1.0070 as targets.

Comment: as long as 0.9985 is resistance, look for choppy price action with a bearish bias.

USD/CAD Intraday: the bias remains bullish.

Pivot: 1.3790

Most likely scenario: long positions above 1.3790 with targets @ 1.3950 & 1.4000 in extension.

Alternative scenario: below 1.3790 look for further downside with 1.3710 & 1.3640 as targets.

Comment: A Reverse head & Shoulders: a bullish reversal pattern, has been validated.

EUR/JPY Intraday: under pressure.

Pivot: 131.00

Most likely scenario: short positions below 131.00 with targets @ 130.00 & 129.55 in extension.

Alternative scenario: above 131.00 look for further upside with 131.65 & 132.00 as targets.

Comment: as long as 131.00 is resistance, look for choppy price action with a bearish bias.

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