Pre European Open, Daily Technical Analysis  Monday, December 4, 2017

Pre European Open, Daily Technical Analysis Monday, December 4, 2017

4 December 2017, 08:51
Dragan Drenjanin
0
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EUR/USD Intraday: under pressure.



  • Pivot: 1.1900
  • Most Likely Scenario: short positions below 1.1900 with targets at 1.1850 & 1.1825 in extension.
  • Alternative scenario: above 1.1900 look for further upside with 1.1935 & 1.1960 as targets.
  • Comment: the RSI is mixed to bearish.

GBP/USD Intraday: under pressure.



  • Pivot: 1.3515
  • Most Likely Scenario: short positions below 1.3515 with targets at 1.3430 & 1.3375 in extension.
  • Alternative scenario: above 1.3515 look for further upside with 1.3550 & 1.3610 as targets.
  • Comment: the RSI shows downside momentum.

USD/JPY Intraday: the upside prevails.



  • Pivot: 112.10
  • Most Likely Scenario: long positions above 112.10 with targets at 113.25 & 113.65 in extension.
  • Alternative scenario: below 112.10 look for further downside with 111.70 & 111.35 as targets.
  • Comment: the RSI shows upside momentum.

AUD/USD Intraday: the downside prevails.



  • Pivot: 0.7620
  • Most Likely Scenario: short positions below 0.7620 with targets at 0.7580 & 0.7565 in extension.
  • Alternative scenario: above 0.7620 look for further upside with 0.7640 & 0.7660 as targets.
  • Comment: the RSI shows downside momentum.

Gold spot Intraday: consolidation in place.



  • Pivot: 1283.00
  • Most Likely Scenario: short positions below 1283.00 with targets at 1270.00 & 1266.00 in extension.
  • Alternative scenario: above 1283.00 look for further upside with 1289.00 & 1292.75 as targets.
  • Comment: the RSI is mixed with a bearish bias.

Crude Oil (WTI) (F8) Intraday: under pressure. 3



  • Pivot: 58.90
  • Most Likely Scenario: short positions below 58.90 with targets at 57.50 & 57.25 in extension.
  • Alternative scenario: above 58.90 look for further upside with 59.30 & 59.50 as targets.
  • Comment: the RSI lacks upward momentum. The prices broke below an intraday rising trend line, which should confirm a bearish reversal.







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