Market volatility will continue to be low as many markets will close early today and price action is not expected to be particularly volatile. 

Trading quote of the day: “An investment in knowledge pays the best interest.” Benjamin Franklin

Green lines are resistance, Red lines are support.

EUR/USD

Pivot: 1.0945

Likely scenario: short positions below 1.0945 with targets @ 1.09 & 1.0865 in extension.

Alternative scenario: above 1.0945 look for further upside with 1.098 & 1.101 as targets.

Comment: intraday technical indicators are mixed and call for caution.

GBP/USD

Pivot: 1.483

Likely scenario: long positions above 1.483 with targets @ 1.491 & 1.495 in extension.

Alternative scenario: below 1.483 look for further downside with 1.48 & 1.476 as targets.

Comment: the RSI lacks downward momentum.

AUD/USD

Pivot: 0.7205

Likely scenario: long positions above 0.7205 with targets @ 0.728 & 0.7315 in extension.

Alternative scenario: below 0.7205 look for further downside with 0.715 & 0.711 as targets.

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

USD/JPY

Pivot: 121.15

Likely scenario: short positions below 121.15 with targets @ 120.3 & 120.1 in extension.

Alternative scenario: above 121.15 look for further upside with 121.5 & 121.75 as targets.

Comment: as long as 121.15 is resistance, look for choppy price action with a bearish bias.

USD/CAD

Pivot: 1.391

Likely scenario: short positions below 1.391 with targets @ 1.381 & 1.377 in extension.

Alternative scenario: above 1.391 look for further upside with 1.395 & 1.4 as targets.

Comment: the break below 1.391 is a negative signal that has opened a path to 1.381.

GOLD

Pivot: 1076

Likely scenario: short positions below 1076 with targets @ 1067 & 1064 in extension.