ntraday Confluence Zones:
Technical Analysis:
EUR/USD:
Our preference: Bearish setups within 1.2895 – 1.2955 with targets @ 1.2859 & 1.2829 in extension.
Alternative scenario: Above 1.2955, watch for bullish setups with 1.2988 as target and 1.3020 in extension.
Comment: EUR/USD remains in consolidation mode. Note that hourly stochastic and RSI are flat. However, the price currently is moving below 20 MA and 50 MA on hourly chart, so the price may move lower today.
GOLD:
Our preference: Bearish setups on a pull-back move to within 1237.00 – 1243.85 with targets @ 1231.80 & 1227.39 in extension.
Alternative scenario: Above 1243.85, watch for bullish setups with 1246.09 as target and 1250.50 in extension.
Comment: Gold price remains capped by negative trendline on hourly chart. Note that hourly stochastic and RSI are oversold. Watch the trendline area and the level of 1241.15 (50% Fibonacci).
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