Our preference: LONG positions above 1.309 with 1.3175 & 1.3205 as next targets.

Alternative scenario: The downside breakout of 1.309 will open the way to 1.3045 & 1.2995.

Comment: a support base at 1.309 has formed and has allowed for a temporary stabilisation.

Our preference: Long positions above 1.5125 with targets @ 1.526 & 1.53 in extension.

Alternative scenario: Below 1.5125 look for further downside with 1.5025 & 1.498 as targets.

Comment: the RSI is bullish and calls for further upside.

Our preference: Short positions below 0.945 with targets @ 0.936 & 0.9315 in extension.

Alternative scenario: Above 0.945 look for further upside with 0.953 & 0.958 as targets.

Comment: as long as the resistance at 0.945 is not surpassed, the risk of the break below 0.936 remains high.

Our preference: Short positions below 1.044 with targets @ 1.0355 & 1.0325 in extension.

Alternative scenario: Above 1.044 look for further upside with 1.047 & 1.052 as targets.

Comment: as long as 1.044 is resistance, look for choppy price action with a bearish bias.

Our preference: LONG positions above 105 with 107.4 & 108.6 as next targets.

Alternative scenario: The downside penetration of 105 will call for 104 & 102.

Comment: the RSI lacks downward momentum.

Our preference: SHORT positions below 1300 with 1267 & 1247 as next targets.

Alternative scenario: The upside breakout of 1300 will open the way to 1320 & 1338.

Comment: gold prices have broken below a rising trend line. As long as the resistance at 1300 is not surpassed, the risk of the break below 1267 remains high.

Our preference: LONG positions above 15330 with 15460 & 15490 in sight.

Alternative scenario: The downside breakout of 15330 will open the way to 15260 & 15180.

Comment: the RSI lacks upward momentum.

Our preference: LONG positions above 1666 with targets @ 1680 & 1685.

Alternative scenario: The downside penetration of 1666 will call for a slide towards 1650 & 1639.

Comment : the RSI is capped by a bearish trend line.