EURUSD Daily Chart
Technical Outlook
Clean reversal off key resistance range between 1.3440-1.3410
We’ve now completed a 38.2% retracement off the advance from the 2013 low
Near-term scalp bias looks to sell rallies- Only break (daily close basis) above 1.33 invalidates
Pending RSI trigger to offer conviction with a move below 1.3160
Primary objective range- 1.31-1.3112
Secondary objective- 1.3000- 1.3030
GBPUSD Daily Chart
Chart Created Using FXCM Marketscope 2.0
Technical Outlook
Sterling turns over ahead of key resistance at 1.5765-1.5780 (bearish invalidation)
Looking to sell rallies into 1.5575/85
Primary objective range 1.54-1.5408
Secondary objectives 1.5265-1.5295 and 1.5180
Watch for RSI break sub-50 to offer further conviction- Trigger break also pending
GOLD Daily Chart
Technical Outlook
All objectives how now been achieved ($1330- $1340, $1302- $1307 and $1273-$1283)
Still looking for another possible low but risk now for a topside RIP begins to mount
Break of near-term support range risks a run on $1245- but downside likely limited
Bottom line- Looking for possible long entries lower down with RSI conviction
Reviews today’s Scalp Webinar for further insights and current trade setups
For updates on this scalp and more setups follow him on Twitter @MBForex
—Written by Michael Boutros, Currency Strategist with DailyFX
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Source: Daily fx
