EUR/USD INTRADAY: THE DOWNSIDE PREVAILS.
Most Likely Scenario: SHORT positions below 1.309 with targets @ 1.303 & 1.2995.
Alternative scenario: The upside penetration of 1.309 will call for 1.312 & 1.316.
Comment: the pair has validated a rising wedge and is posting a pull back on its new resistance ahead of further weakness.
GBP/USD INTRADAY: UNDER PRESSURE.
Most Likely Scenario: SHORT positions below 1.536 with 1.5285 & 1.5245 as next targets.
Alternative scenario: The upside penetration of 1.536 will call for a rebound towards 1.541 & 1.545.
Comment: the pair is posting a rebound but stands below its strong resistance, the RSI stands around its neutrality area.
USD/JPY INTRADAY: INTRADAY SUPPORT AROUND 98.9
Most Likely Scenario: LONG positions @ 99 with 100 & 100.8 in sight.
Alternative scenario: The downside penetration of 98.9 will call for a slide towards 98 & 97.15.
Comment: the pair remains on the upside and is approaching its previous high.
AUD/USD INTRADAY: REBOUND.
Most Likely Scenario: Long positions above 1.05 with targets @ 1.055 & 1.0575 in extension.
Alternative scenario: Below 1.05 look for further downside with 1.0465 & 1.0445 as targets.
Comment: the pair is rebounding on its support as the RSI is reversing up.
GOLD (SPOT) INTRADAY: THE DOWNSIDE PREVAILS.
Most Likely Scenario: SHORT positions below 1575 with 1549 & 1540 as next targets.
Alternative scenario: The upside breakout of 1575 will open the way to 1583 & 1591.
Comment: gold prices have broken below the rising trend line. The 50 moving average is heading down. A new down leg towards 1540 seems likely, as long as 1575 is resistance.
CRUDE OIL (MAY 13) INTRADAY: THE BIAS REMAINS BULLISH.
Most Likely Scenario: LONG positions above 93.4 with targets @ 94.8 & 95.6.
Alternative scenario: The downside penetration of 93.4 will call for 92.9 & 91.9.
Comment: technically, the RSI is above its neutrality area at 50.
The information contained in this publication is produced by TRADING Central and not intended as an offer or solicitation for the purchase or sale of any financial instrument. Any opinion offered herein reflects TRADING Central current judgment and may change without notice.