EUR/USD:
Our preference: Bearish setups within 1.3510 - 1.3555 with targets @ 1.3478 & 1.3430 in extension.
Alternative scenario: Above 1.3555, watch for bullish setups with 1.3605 as target and 1.3684 in extension.
Comment: EUR/USD remains in consolidation mode. 20 MA and 50 MA are flat on hourly chart.
AUD/USD:
Our preference: Bullish setups on a pull-back move to within 0.8835 - 0.8880 with targets @ 0.8940 & 0.8890 in extension.
Alternative scenario: Below 0.8835, watch for bearish setups with 0.8779 as target and 0.8729 in extension.
Comment: Correction occurs on AUD/USD. Note that hourly stochastic has crossed up.
GBP/USD:
Our preference: Bearish setups on a pull-back move to within 1.6350 - 1.6410 with targets @ 1.6318 & 1.6256 in extension.
Alternative scenario: Above 1.6410, watch for bullish setups with 1.6456 as target and 1.6518 in extension.
Comment: GBP/USD is approaching the confluence zone. Hourly stochastic and RSI are overbought. Watch the level of 1.6387 (50% Fibonacci).
EUR/JPY:
Our preference: Bearish setups within 136.90 - 137.50 with targets @ 136.35 & 135.90 in extension.
Alternative scenario: Above 137.50, watch for bullish setups with 137.80 as target and 138.24 in extension.
Comment: EUR/JPY has pulled back into the confluence zone. Note that hourly stochastic has crossed up.
GOLD:
Our preference: Bullish setups within 1247.75 - 1255.30 with targets @ 1259.54 & 1266.20 in extension.
Alternative scenario: Below 1247.75, watch for bearish setups with 1244.64 as target and 1237.98 in extension.
Comment: Gold price has pulled back into the confluence zone. Note that hourly stochastic is falling
