Forex Daily Technical Overview: Oct. 16, 2017
FxGrow | Oct 16, 2017 04:05
EUR/USD Intraday: under pressure.
Pivot: 1.1825
Our preference: short positions below 1.1825 with targets at 1.1775 & 1.1760 in extension.
Alternative scenario: above 1.1825 look for further upside with 1.1850 & 1.1875 as targets.
Comment: the RSI shows downside momentum.
Supports and resistances:
1.1875
1.1850
1.1825
1.1800 Last
1.1775
1.1760
1.1735
USD/JPY Intraday: intraday support around 111.65.
Pivot: 111.65
Our preference: long positions above 111.65 with targets at 112.05 & 112.25 in extension.
Alternative scenario: below 111.65 look for further downside with 111.40 & 111.20 as targets.
Comment: the RSI lacks downward momentum.
Supports and resistances:
112.45
112.25
112.05
111.86 Last
111.65
111.40
111.20
GBP/USD Intraday: further advance.
Pivot: 1.3260
Our preference: long positions above 1.3260 with targets at 1.3325 & 1.3350 in extension.
Alternative scenario: below 1.3260 look for further downside with 1.3230 & 1.3180 as targets.
Comment: the RSI shows upside momentum.
Supports and resistances:
1.3375
1.3350
1.3325
1.3295 Last
1.3260
1.3230
1.3180
AUD/USD Intraday: the bias remains bullish.
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Pivot: 0.7850
Our preference: long positions above 0.7850 with targets at 0.7900 & 0.7920 in extension.
Alternative scenario: below 0.7850 look for further downside with 0.7825 & 0.7805 as targets.
Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
Supports and resistances:
0.7950
0.7920
0.7900
0.7875 Last
0.7850
0.7825
0.7805
Crude Oil (WTI) (X7) Intraday: further advance.
Pivot: 51.35
Our preference: long positions above 51.35 with targets at 52.40 & 52.85 in extension.
Alternative scenario: below 51.35 look for further downside with 50.95 & 50.55 as targets.
Comment: the RSI lacks downward momentum.
Supports and resistances:
53.20
52.85
52.40
51.93 Last
51.35
50.95
50.55
Gold spot Intraday: further advance.
Pivot: 1295.00
Our preference: long positions above 1295.00 with targets at 1310.00 & 1315.00 in extension.
Alternative scenario: below 1295.00 look for further downside with 1290.00 & 1284.00 as targets.
Comment: the RSI is bullish and calls for further advance.
Supports and resistances:
1322.00
1315.00
1310.00
1303.28 Last
1295.00
1290.00
1284.00
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