Forex Daily Technical Overview: Oct. 17, 2017
FxGrow | Oct 17, 2017 06:38
GBP/USD Intraday: under pressure.
Pivot: 1.3290
Our preference: short positions below 1.3290 with targets at 1.3220 & 1.3180 in extension.
Alternative scenario: above 1.3290 look for further upside with 1.3325 & 1.3350 as targets.
Comment: as long as the resistance at 1.3290 is not surpassed, the risk of the break below 1.3220 remains high.
Supports and resistances:
1.3350
1.3325
1.3290
1.3259 Last
1.3220
1.3180
1.3150
USD/JPY Intraday: the upside prevails.
Pivot: 111.85
Our preference: long positions above 111.85 with targets at 112.30 & 112.55 in extension.
Alternative scenario: below 111.85 look for further downside with 111.65 & 111.40 as targets.
Comment: the RSI shows upside momentum.
Supports and resistances:
112.80
112.55
112.30
112.10 Last
111.85
111.65
111.40
EUR/USD Intraday: the downside prevails.
Pivot: 1.1800
Our preference: short positions below 1.1800 with targets at 1.1740 & 1.1715 in extension.
Alternative scenario: above 1.1800 look for further upside with 1.1815 & 1.1835 as targets.
Comment: the RSI is bearish and calls for further downside.
Supports and resistances:
1.1835
1.1815
1.1800
1.1765 Last
1.1740
1.1715
1.1695
AUD/USD Intraday: consolidation.
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Pivot: 0.7875
Our preference: short positions below 0.7875 with targets at 0.7825 & 0.7805 in extension.
Alternative scenario: above 0.7875 look for further upside with 0.7900 & 0.7925 as targets.
Comment: as long as 0.7875 is resistance, look for choppy price action with a bearish bias.
Supports and resistances:
0.7925
0.7900
0.7875
0.7850 Last
0.7825
0.7805
0.7770
Crude Oil (WTI) (X7) Intraday: the bias remains bullish.
Pivot: 51.50
Our preference: long positions above 51.50 with targets at 52.40 & 52.85 in extension.
Alternative scenario: below 51.50 look for further downside with 50.95 & 50.55 as targets.
Comment: the RSI is mixed with a bullish bias.
Supports and resistances:
53.20
52.85
52.40
51.90 Last
51.50
50.95
50.55
Gold spot Intraday: under pressure.
Pivot: 1296.00
Our preference: short positions below 1296.00 with targets at 1284.00 & 1282.00 in extension.
Alternative scenario: above 1296.00 look for further upside with 1300.00 & 1306.00 as targets.
Comment: the RSI is bearish and calls for further downside.
Supports and resistances:
1306.00
1300.00
1296.00
1290.40 Last
1284.00
1282.00
1279.50
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