Pre US Open, Daily Technical Analysis Friday, December 1, 2017

Pre US Open, Daily Technical Analysis Friday, December 1, 2017

1 December 2017, 13:40
Dragan Drenjanin
0
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EUR/USD Intraday: the upside prevails.



Pivot: 1.1885
Most Likely Scenario: long positions above 1.1885 with targets at 1.1935 & 1.1960 in extension.
Alternative scenario: below 1.1885 look for further downside with 1.1855 & 1.1825 as targets.
Comment: the RSI lacks downward momentum.

GBP/USD Intraday: turning down.



Pivot: 1.3550
Most Likely Scenario: short positions below 1.3550 with targets at 1.3430 & 1.3375 in extension.
Alternative scenario: above 1.3550 look for further upside with 1.3610 & 1.3670 as targets.
Comment: the RSI shows downside momentum.

USD/JPY Intraday: the bias remains bullish.



Pivot: 112.20
Most Likely Scenario: long positions above 112.20 with targets at 112.70 & 113.00 in extension.
Alternative scenario: below 112.20 look for further downside with 111.70 & 111.30 as targets.
Comment: the RSI lacks downward momentum.

AUD/USD Intraday: continuation of the rebound.



Pivot: 0.7550
Most Likely Scenario: long positions above 0.7550 with targets at 0.7595 & 0.7620 in extension.
Alternative scenario: below 0.7550 look for further downside with 0.7530 & 0.7505 as targets.
Comment: the RSI shows upside momentum.

Gold spot Intraday: under pressure.



Pivot: 1281.00
Most Likely Scenario: short positions below 1281.00 with targets at 1270.00 & 1266.00 in extension.
Alternative scenario: above 1281.00 look for further upside with 1286.00 & 1289.00 as targets.
Comment: the RSI is mixed with a bearish bias.

Crude Oil (WTI) (F8) Intraday: capped by a negative trend line.



Pivot: 58.15
Most Likely Scenario: short positions below 58.15 with targets at 56.75 & 56.40 in extension.
Alternative scenario: above 58.15 look for further upside with 58.55 & 59.00 as targets.
Comment: the upward potential is likely to be limited by the resistance at 58.15.


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