Forex Daily Technical Overview 23 Oct 2017
GBP/USD Intraday: the bias remains bullish
Pivot: 1.3145
Our preference: long positions above 1.3145 with targets at 1.3225 and 1.3260 in extension.
Alternative scenario: below 1.3145 look for further downside with 1.3100 and 1.3060 as targets.
Comment: the RSI is mixed to bullish.
Supports and resistances:
1.3290
1.3260
1.3225
1.3190 Last
1.3145
1.3100
1.3060
USD/JPY Intraday: the bias remains bullish
Pivot: 113.45
Our preference: long positions above 113.45 with targets at 114.30 and 114.80 in extension.
Alternative scenario: below 113.45 look for further downside with 113.05 and 112.70 as targets.
Comment: the RSI shows upside momentum.
Supports and resistances:
115.35
114.80
114.30
113.85 Last
113.45
113.05
112.70
EUR/USD Intraday: the downside prevails
Pivot: 1.1790
Our preference: short positions below 1.1790 with targets at 1.1740 and 1.1720 in extension.
Alternative scenario: above 1.1790 look for further upside with 1.1820 and 1.1840 as targets.
Comment: the RSI shows downside momentum.
Supports and resistances:
1.1840
1.1820
1.1790
1.1760 Last
1.1740
1.1720
1.1700
AUD/USD Intraday: under pressure
Pivot: 0.7835
Our preference: short @ 0.7820 with targets @ 0.7800 and 0.7780 in extension.
Alternative scenario: above 0.7835 look for further upside with 0.7855 and 0.7870 as targets.
Comment: even though a continuation of the technical rebound cannot be ruled out, its extent should be limited.
Supports and resistances:
0.7870
0.7855
0.7835
0.7820 Last
0.7800
0.7780
0.7765
Crude Oil WTI (Z7) Intraday: further advance.
Pivot: 51.60
Our preference: long positions above 51.60 with targets at 52.40 and 52.60 in extension.
Alternative scenario: below 51.60 look for further downside with 51.30 and 50.85 as targets.
Comment: the RSI is bullish and calls for further upside.
Supports and resistances:
52.80
52.60
52.40
52.16 Last
51.60
51.30
50.85
Gold spot Intraday: capped by a negative trend line
Pivot: 1282.00
Our preference: short positions below 1282.00 with targets at 1270.00 and 1265.00 in extension.
Alternative scenario: above 1282.00 look for further upside with 1286.00 and 1291.00 as targets.
Comment: the RSI is capped by a bearish trend line.
Supports and resistances:
1291.00
1286.00
1282.00
1274.94 Last
1270.00
1265.00
1261.00