Technical Snapshots for Today 25 July 2019

EUR/USD Intraday: under pressure.   Pivot: 1.1155   Our preference: short positions below 1.1155 with targets at 1.1125 & 1.1105 in extension.   Alternative scenario: above 1.1155 look for further upside with 1.1185 & 1.1205 as targets.   Comment: a break below 1.1125 would trigger a drop towards 1.1105.

GBP/USD Intraday: under pressure.   Pivot: 1.2500   Our preference: short positions below 1.2500 with targets at 1.2460 & 1.2440 in extension.   Alternative scenario: above 1.2500 look for further upside with 1.2520 & 1.2540 as targets.   Comment: the RSI shows downside momentum.

AUD/USD Intraday: the downside prevails.   Pivot: 0.6985   Our preference: short positions below 0.6985 with targets at 0.6945 & 0.6930 in extension.   Alternative scenario: above 0.6985 look for further upside with 0.7005 & 0.7020 as targets.   Comment: the RSI shows downside momentum.

Gold spot Intraday: bullish bias above 1419.00.   Pivot: 1419.00   Our preference: long positions above 1419.00 with targets at 1430.00 & 1434.00 in extension.   Alternative scenario: below 1419.00 look for further downside with 1414.00 & 1410.00 as targets.   Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

Silver spot Intraday: consolidation.   Pivot: 16.5600   Our preference: short positions below 16.5600 with targets at 16.4100 & 16.3100 in extension.   Alternative scenario: above 16.5600 look for further upside with 16.6300 & 16.7200 as targets.   Comment: the RSI is mixed to bearish.

Crude Oil (WTI)‎ (U9)‎ Intraday: key resistance at 56.55.   Pivot: 56.55   Our preference: short positions below 56.55 with targets at 55.35 & 54.85 in extension.   Alternative scenario: above 56.55 look for further upside with 56.95 & 57.30 as targets.   Comment: as long as the resistance at 56.55 is not surpassed, the risk of the break below 55.35 remains high.