Forex signals and trading forecast August 19 2020
| EUR/USD Intraday: the uptrend remains. Pivot: 1.1920 Probable development: Buy positions above 1.1920 with targets at 1.1965 & 1.1985 in extension. Less likely but possible: below 1.1920 look for further downtrend with 1.1895 & 1.1880 as targets. Additional observations: the RSI shows uptrend momentum. |
| Gold spot Intraday: consolidation in place. Pivot: 2006.00 Probable development: Sell positions below 2006.00 with targets at 1976.00 & 1966.00 in extension. Less likely but possible: above 2006.00 look for further uptrend with 2015.00 & 2030.00 as targets. Additional observations: the RSI is mixed to bearish sentiment. |
| GBP/USD Intraday: caution. Pivot: 1.3225 Probable development: Buy positions above 1.3225 with targets at 1.3265 & 1.3290 in extension. Less likely but possible: below 1.3225 look for further downtrend with 1.3200 & 1.3180 as targets. Additional observations: even though a continuation of the consolidation cannot be ruled out, its extent should be limited. |
| GBP/JPY intraday: the uptrend prevails as Buy as 139.39 is support Our pivot point stands at 139.39. Probable development: the uptrend prevails as Buy as 139.39 is support. Less likely but possible: the downtrend breakout of 139.39 would call for 139.07 and 138.88. Additional observations: the RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the pair is above its 20 and 50 MAs (respectively at 139.56 and 139.26). |
| EUR/JPY intraday: the uptrend prevails as Buy as 125.62 is support Our pivot point is at 125.62. Probable development: the uptrend prevails as Buy as 125.62 is support. Less likely but possible: the downtrend breakout of 125.62 would call for 125.31 and 125.12. Additional observations: the RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the pair is trading above both its 20 and 50 MAs (respectively at 125.79 and 125.73). |
| EUR/GBP intraday: rebound towards 0.9051 Our pivot point stands at 0.8995. Probable development: rebound towards 0.9051. Less likely but possible: below 0.8995, expect 0.8974 and 0.8962. Additional observations: the RSI is below its neutrality area at 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the pair is trading above its 20 MA (0.9012) but under its 50 MA (0.9027). |
| Dax (U0) Intraday: choppy. Pivot: 12950.00 Probable development: Sell positions below 12950.00 with targets at 12785.00 & 12720.00 in extension. Less likely but possible: above 12950.00 look for further uptrend with 13050.00 & 13098.00 as targets. Additional observations: as Buy as 12950.00 is resistance, look for choppy price action with a bearish sentiment bias. |
| Brent (V0) Intraday: bounce. Pivot: 44.90 Probable development: Buy positions above 44.90 with targets at 45.45 & 45.60 in extension. Less likely but possible: below 44.90 look for further downtrend with 44.75 & 44.55 as targets. Additional observations: the RSI is mixed to bullish sentiment. |
