Crude Oil (May 12) intraday: the downside prevails.

Pivot: 105.80 Our Preference: SHORT positions below 105.8 with 104.5 & 103.95 in sight. Alternative scenario: The upside penetration of 105.8 will call for 106.2 & 106.7. Comment: the RSI is below its neutrality area at 50%

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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

 

GOLD (Spot) intraday: the downside prevails.Pivot: 1671.00

Our Preference: SHORT positions below 1671 with targets @ 1655 & 1649.

Alternative scenario: The upside penetration of 1671 will call for 1684 & 1697.

Comment: the RSI is bearish and calls for further downside.

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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

EUR/USD intraday: key ST resistance at 1.3335Pivot: 1.3335.

Our Preference: SHORT positions @ 1.3325 with targets @ 1.3285 & 1.325.

Alternative scenario: The upside penetration of 1.3335 will call for 1.336 & 1.3385.

Comment: the pair has struck against its resistance and should face a weakness.

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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

GBP/USD intraday: rebound.Pivot: 1.5880.

Our Preference: LONG positions @ 1.589 with targets @ 1.594 & 1.597.

Alternative scenario: The downside penetration of 1.588 will call for 1.586 & 1.5835.

Comment: the pair is rebounding on its support as the RSI is turning up.

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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

USD/CAD intraday: rebound.Pivot: 0.9965

Our preference: Long @ 0.997 with targets @ 1 & 1.001 in extension.

Alternative scenario: Below 0.9965 look for further downside with 0.994 & 0.993 as targets.

Comment: the pair is rebounding on its support.

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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

USD/JPY intraday: bullish bias above 82.5Pivot: 82.50.

Our Preference: LONG positions @ 82.55 with 83 & 83.2 as next targets.

Alternative scenario: The downside breakout of 82.5 will open the way to 82.25 & 81.95.

Comment: the pair is pulling back on its support ahead of 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

AUD/USD intraday: under pressure.Pivot: 1.0405

Our preference: Short @ 1.04 with targets @ 1.033 & 1.03 in extension.

Alternative scenario: Above 1.0405 look for further upside with 1.042 & 1.0445 as targets.

Comment: the pair stands below its new resistance and remains under pressure.

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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

USD/CHF intraday: bullish bias above 0.903

Pivot: 0.90. Our Preference: LONG positions @ 0.9035 with targets @ 0.908 & 0.9115. Alternative scenario: The downside penetration of 0.903 will call for 0.901 & 0.8975. Comment: the pair is posting a rebound on its support.

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Shayne Heffernan

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 reach a peak market cap of $15b. He has managed and overseen start ups in Mining, Shipping, Technology and Financial Services.

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