Forex Daily Technical Overview Oct. 24, 2017
FxGrow | Oct 24, 2017 07:42
GBP/USD Intraday: under pressure.
Pivot: 1.3230
Our preference: short positions below 1.3230 with targets at 1.3155 & 1.3125 in extension.
Alternative scenario: above 1.3230 look for further upside with 1.3260 & 1.3290 as targets.
Comment: the RSI broke below a rising trend line.
Supports and resistances:
1.3290
1.3260
1.3230
1.3190 Last
1.3155
1.3125
1.3085
USD/JPY Intraday: caution.
Pivot: 113.75
Our preference: short positions below 113.75 with targets at 113.10 & 112.70 in extension.
Alternative scenario: above 113.75 look for further upside with 114.10 & 114.30 as targets.
Comment: the RSI is mixed and calls for caution.
Supports and resistances:
114.30
114.10
113.75
113.40 Last
113.10
112.70
112.35
AUD/USD Intraday: under pressure.
Pivot: 0.7825
Our preference: short positions below 0.7825 with targets at 0.7765 & 0.7745 in extension.
Alternative scenario: above 0.7825 look for further upside with 0.7855 & 0.7885 as targets.
Comment: the RSI shows downside momentum.
Supports and resistances:
0.7885
0.7855
0.7825
0.7795 Last
0.7765
0.7745
0.7730
Crude Oil (WTI) (Z7) Intraday: the downside prevails.
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Pivot: 52.10
Our preference: short positions below 52.10 with targets at 51.65 & 51.30 in extension.
Alternative scenario: above 52.10 look for further upside with 52.30 & 52.60 as targets.
Comment: the RSI is bearish and calls for further decline.
Supports and resistances:
52.60
52.30
52.10
51.85 Last
51.65
51.30
50.85
Gold spot Intraday: bullish bias above 1276.50.
Pivot: 1276.50
Our preference: long positions above 1276.50 with targets at 1284.00 & 1291.00 in extension.
Alternative scenario: below 1276.50 look for further downside with 1272.00 & 1267.00 as targets.
Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
Supports and resistances:
1296.00
1291.00
1284.00
1279.97 Last
1276.50
1272.00
1267.00
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