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Market Technical Analysis

4 August, 2021

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EUR/USD Intraday: under pressure.
Pivot: 1.1880

Our preference: short positions below 1.1880 with targets at 1.1840 & 1.1825 in extension.

Alternative scenario: above 1.1880 look for further upside with 1.1895 & 1.1910 as targets.

Comment: the RSI shows downside momentum.

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USD/CHF Intraday: the upside prevails.
Pivot: 0.9025

Our preference: long positions above 0.9025 with targets at 0.9060 & 0.9075 in extension.

Alternative scenario: below 0.9025 look for further downside with 0.9015 & 0.9000 as targets.

Comment: the RSI is mixed to bullish.

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USD/JPY Intraday: the upside prevails.
Pivot: 108.85

Our preference: long positions above 108.85 with targets at 109.35 & 109.50 in extension.

Alternative scenario: below 108.85 look for further downside with 108.70 & 108.55 as targets.

Comment: the RSI is mixed to bullish.

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GBP/USD Intraday: the bias remains bullish.
Pivot: 1.3900

Our preference: long positions above 1.3900 with targets at 1.3950 & 1.3965 in extension.

Alternative scenario: below 1.3900 look for further downside with 1.3880 & 1.3860 as targets.

Comment: the RSI advocates for further advance.

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USD/CAD Intraday: supported by a rising trend line.
Pivot: 1.2500

Our preference: long positions above 1.2500 with targets at 1.2575 & 1.2600 in extension.

Alternative scenario: below 1.2500 look for further downside with 1.2475 & 1.2450 as targets.

Comment: the RSI shows upside momentum.

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Gold Intraday: intraday support around 1809.00.
Pivot: 1809.00

Our preference: long positions above 1809.00 with targets at 1819.00 & 1825.00 in extension.

Alternative scenario: below 1809.00 look for further downside with 1805.00 & 1800.00 as targets.

Comment: a support base at 1809.00 has formed and has allowed for a temporary stabilisation.

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Crude Oil (WTI) (U1) Intraday: the downside prevails.
Pivot: 70.70

Our preference: short positions below 70.70 with targets at 69.20 & 68.80 in extension.

Alternative scenario: above 70.70 look for further upside with 71.40 & 71.95 as targets.

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

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