Forex Daily Technical Overview 11 Oct 2017
FxGrow | Oct 11, 2017 05:02
GBP/USD Intraday: the bias remains bullish.
Pivot: 1.3175
Our preference: long positions above 1.3175 with targets at 1.3225 & 1.3260 in extension.
Alternative scenario: below 1.3175 look for further downside with 1.3130 & 1.3100 as targets.
Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
Supports and resistances:
1.3290
1.3260
1.3225
1.3200 Last
1.3175
1.3130
1.3100
USD/JPY Intraday: the upside prevails.
Pivot: 112.20
Our preference: long positions above 112.20 with targets at 112.55 & 112.80 in extension.
Alternative scenario: below 112.20 look for further downside with 111.95 & 111.65 as targets.
Comment: the RSI has just landed on its neutrality area at 50% and is turning up.
Supports and resistances:
113.05
112.80
112.55
112.40 Last
112.20
111.95
111.65
EUR/USD Intraday: further upside.
Pivot: 1.1785
Our preference: long positions above 1.1785 with targets at 1.1860 & 1.1890 in extension.
Alternative scenario: below 1.1785 look for further downside with 1.1760 & 1.1735 as targets.
Comment: the RSI shows upside momentum.
Supports and resistances:
1.1915
1.1890
1.1860
1.1818 Last
1.1785
1.1760
1.1735
AUD/USD Intraday: bullish bias above 0.7770.
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Pivot: 0.7770
Our preference: long positions above 0.7770 with targets at 0.7800 & 0.7820 in extension.
Alternative scenario: below 0.7770 look for further downside with 0.7745 & 0.7730 as targets.
Comment: a support base at 0.7770 has formed and has allowed for a temporary stabilisation.
Supports and resistances:
0.7840
0.7820
0.7800
0.7785 Last
0.7770
0.7745
0.7730
Crude Oil (WTI) (X7) Intraday: bullish bias above 50.70.
Pivot: 50.70
Our preference: long positions above 50.70 with targets at 51.20 & 51.50 in extension.
Alternative scenario: below 50.70 look for further downside with 50.45 & 50.00 as targets.
Comment: the RSI lacks downward momentum. The prices remain bullish above the horizontal support at 50.70, and are likely to challenge the resistance at 51.20, representing Oct 5 top.
Supports and resistances:
51.75
51.50
51.20
51.07 Last
50.70
50.45
50.00
Gold spot Intraday: bullish bias above 1285.00.
Pivot: 1285.00
Our preference: long positions above 1285.00 with targets at 1294.00 & 1297.00 in extension.
Alternative scenario: below 1285.00 look for further downside with 1281.00 & 1279.00 as targets.
Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
Supports and resistances:
1301.00
1297.00
1294.00
1288.22 Last
1285.00
1281.00
1279.00
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