France will sell as much as 8.5 billion euros ($11 billion) of 5, 10, 15 and 30-year bonds and notes at an auction today. Yesterday, Spain sold 2.6 billion euros of bonds, near the minimum target, and borrowing costs rose in its first auction since the country said public debt will surge to a record this year. The Spanish Treasury had set a range of 2.5 billion euros to 3.5 billion euros for the sale.

In the U.S., a Labor Department report at 8:30 a.m. in Washington may show initial jobless claims fell to 355,000 in the week to March 31, according to economists surveyed by Bloomberg News.

Crude Oil (May 12) intraday: key ST resistance at 103.25

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Pivot: 103.25
Our Preference: SHORT positions below 103.25 with targets @ 101 & 99.95.
Alternative scenario: The upside penetration of 103.25 will call for a rebound towards 104.25 & 105.15.
Comment: even though a continuation of the technical rebound cannot be ruled out, its extent should be limited.

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Opinion published is an intraday view. Green Lines Represent Resistance | Red Represent Support Levels | Light Blue is a Pivot Point | Black represents the price when the report was produced width=1

 

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GOLD (Spot) intraday: the downside prevails./Pivot: 1630.00
Our Preference: SHORT positions below 1630 with 1612 & 1605 as next targets.
Alternative scenario: The upside breakout of 1630 will open the way to 1639 & 1648.
Comment: as long as 1630 is resistance, likely decline to 1612./

width=590Opinion published is an intraday view. Green Lines Represent Resistance | Red Represent Support Levels | Light Blue is a Pivot Point | Black represents the price when the report was produced

 

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EUR/USD intraday: under pressure./Pivot: 1.3180.
Our Preference: SHORT positions @ 1.317 with 1.31 & 1.308 in sight.
Alternative scenario: The upside penetration of 1.318 will call for a rebound towards 1.3215 & 1.3245.
Comment: the pair is rebounding but stands below its resistance./

width=590Opinion published is an intraday view. Green Lines Represent Resistance | Red Represent Support Levels | Light Blue is a Pivot Point | Black represents the price when the report was produced

 

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GBP/USD intraday: caution./Pivot: 1.5910.
Our Preference: SHORT positions @ 1.5905 with 1.5865 & 1.583 in sight.
Alternative scenario: The upside penetration of 1.591 will call for a rebound towards 1.593 & 1.597.
Comment: the pair is rebounding and is challenging its resistance, caution./

width=590Opinion published is an intraday view. Green Lines Represent Resistance | Red Represent Support Levels | Light Blue is a Pivot Point | Black represents the price when the report was produced

 

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USD/CAD intraday: bullish bias above 0.993./Pivot: 0.993
Our preference: Long positions above 0.993 with targets @ 0.9975 & 0.999 in extension.
Alternative scenario: Below 0.993 look for further downside with 0.991 & 0.989 as targets.
Comment: the pair remains on the upside and is challenging its resistance./

width=590Opinion published is an intraday view. Green Lines Represent Resistance | Red Represent Support Levels | Light Blue is a Pivot Point | Black represents the price when the report was produced

 

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USD/JPY intraday: the downside prevails./Pivot: 82.50.
Our Preference: SHORT positions @ 82.45 with targets @ 82.05 & 81.85.
Alternative scenario: The upside breakout of 82.5 will open the way to 82.75 & 83.
Comment: the RSI is capped by a declining trend line, the pair is under pressure and is challenging its support./

width=590Opinion published is an intraday view. Green Lines Represent Resistance | Red Represent Support Levels | Light Blue is a Pivot Point | Black represents the price when the report was produced

 

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AUD/USD intraday: target 1.0385./Pivot: 1.025
Our preference: Long positions above 1.025 with targets @ 1.0345 & 1.0385 in extension.
Alternative scenario: Below 1.025 look for further downside with 1.0205 & 1.017 as targets.
Comment: the pair has broken above its intermediary resistance./

width=590Opinion published is an intraday view. Green Lines Represent Resistance | Red Represent Support Levels | Light Blue is a Pivot Point | Black represents the price when the report was produced

 

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USD/CHF intraday: further advance.

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Pivot: 0.91.
Our Preference: LONG positions @ 0.9115 with targets @ 0.918 & 0.92.
Alternative scenario: The downside penetration of 0.911 will call for a slide towards 0.909 & 0.907.
Comment: the pair stands above its new support and should post a rebound.

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Opinion published is an intraday view. Green Lines Represent Resistance | Red Represent Support Levels | Light Blue is a Pivot Point | Black represents the price when the report was produced

Shayne Heffernan

www.livetradingnews.com

Shayne Heffernan oversees the management of funds for institutions and high net worth individuals.

Shayne Heffernan holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reached a peak market cap of $15b. He has managed and overseen start ups in Mining, Shipping, Technology and Financial Services.Read the Terms of Service