Technical Snapshots for Today 23 July 2019

EUR/USD Intraday: under pressure.   Pivot: 1.1210   Our preference: short positions below 1.1210 with targets at 1.1180 & 1.1160 in extension.   Alternative scenario: above 1.1210 look for further upside with 1.1225 & 1.1240 as targets.   Comment: the RSI shows downside momentum.

GBP/USD Intraday: under pressure.   Pivot: 1.2485   Our preference: short positions below 1.2485 with targets at 1.2435 & 1.2405 in extension.   Alternative scenario: above 1.2485 look for further upside with 1.2500 & 1.2520 as targets.   Comment: the RSI is bearish and calls for further decline.

AUD/USD Intraday: under pressure.   Pivot: 0.7040   Our preference: short positions below 0.7040 with targets at 0.7015 & 0.7000 in extension.   Alternative scenario: above 0.7040 look for further upside with 0.7055 & 0.7065 as targets.   Comment: the RSI shows downside momentum.

Gold spot Intraday: the downside prevails.   Pivot: 1425.50   Our preference: short positions below 1425.50 with targets at 1407.00 & 1400.00 in extension.   Alternative scenario: above 1425.50 look for further upside with 1430.00 & 1435.00 as targets.   Comment: the RSI shows downside momentum.

Silver spot Intraday: under pressure.   Pivot: 16.3700   Our preference: short positions below 16.3700 with targets at 16.0400 & 15.9000 in extension.   Alternative scenario: above 16.3700 look for further upside with 16.4600 & 16.5800 as targets.   Comment: the RSI shows downside momentum.

Crude Oil (WTI)‎ (U9)‎ Intraday: bullish bias above 55.85.   Pivot: 55.85   Our preference: long positions above 55.85 with targets at 56.60 & 57.00 in extension.   Alternative scenario: below 55.85 look for further downside with 55.15 & 54.85 as targets.   Comment: the RSI lacks downward momentum.