Market Technical Analysis

24 February, 2021

AFX Advisors is one of the online leaders in Forex Technical Analysis and Forex Trade Recommendations. Click and Register today for the best services and bonus offers in the market.

EUR/USD Intraday: intraday support around 1.2140.
Pivot: 1.2140

Our preference: long positions above 1.2140 with targets at 1.2180 & 1.2200 in extension.

Alternative scenario: below 1.2140 look for further downside with 1.2125 & 1.2105 as targets.

Comment: the RSI shows upside momentum.

USD/CHF Intraday: the bias remains bullish.
Pivot: 0.9035

Our preference: long positions above 0.9035 with targets at 0.9085 & 0.9100 in extension.

Alternative scenario: below 0.9035 look for further downside with 0.9015 & 0.8990 as targets.

Comment: the RSI is mixed to bullish.

USD/JPY Intraday: the upside prevails.
Pivot: 105.40

Our preference: long positions above 105.40 with targets at 106.00 & 106.20 in extension.

Alternative scenario: below 105.40 look for further downside with 105.25 & 105.05 as targets.

Comment: the RSI is bullish and calls for further upside.

GBP/USD Intraday: the upside prevails.
Pivot: 1.4100

Our preference: long positions above 1.4100 with targets at 1.4195 & 1.4240 in extension.

Alternative scenario: below 1.4100 look for further downside with 1.4055 & 1.4015 as targets.

Comment: the RSI is mixed to bullish.

AUD/USD Intraday: the upside prevails.
Pivot: 0.7900

Our preference: long positions above 0.7900 with targets at 0.7945 & 0.7970 in extension.

Alternative scenario: below 0.7900 look for further downside with 0.7875 & 0.7850 as targets.

Comment: the RSI is mixed to bullish.

USD/CAD Intraday: under pressure.
Pivot: 1.2595

Our preference: short positions below 1.2595 with targets at 1.2535 & 1.2510 in extension.

Alternative scenario: above 1.2595 look for further upside with 1.2610 & 1.2645 as targets.

Comment: the RSI shows downside momentum.

Gold Intraday: expect 1790.00.
Pivot: 1816.00

Our preference: short positions below 1816.00 with targets at 1795.00 & 1790.00 in extension.

Alternative scenario: above 1816.00 look for further upside with 1821.00 & 1828.00 as targets.

Comment: as long as the resistance at 1816.00 is not surpassed, the risk of the break below 1795.00 remains high.

Crude Oil (WTI) (J1) Intraday: further upside.
Pivot: 61.60

Our preference: long positions above 61.60 with targets at 63.00 & 64.00 in extension.

Alternative scenario: below 61.60 look for further downside with 60.65 & 60.10 as targets.

Comment: the RSI is bullish and calls for further advance.