Forex Daily Technical Overview 2nd Nov 2017
EUR/USD Intraday: continuation of the rebound
Pivot: 1.1625
Our preference: long positions above 1.1625 with targets at 1.1690 and 1.1720 in extension.
Alternative scenario: below 1.1625 look for further downside with 1.1600 and 1.1570 as targets.
Comment: the break above 1.1625 is a positive signal that has opened a path to 1.1690.
Supports and resistances:
1.1750 **
1.1720 **
1.1690 **
1.1643 Last
1.1625 ***
1.1600 *
1.1570 **
USD/JPY Intraday: bullish bias above 113.75
Pivot: 113.75
Our preference: long positions above 113.75 with targets at 114.30 and 114.75 in extension.
Alternative scenario: below 113.75 look for further downside with 113.30 and 112.95 as targets.
Comment: a support base at 113.75 has formed and has allowed for a temporary stabilisation.
Supports and resistances:
115.20
114.75
114.30
114.05 Last
113.75
113.30
112.95
GBP/USD Intraday: intraday support around 1.3240
Pivot: 1.3240
Our preference: long positions above 1.3240 with targets at 1.3320 and 1.3360 in extension.
Alternative scenario: below 1.3240 look for further downside with 1.3190 and 1.3155 as targets.
Comment: a support base at 1.3240 has formed and has allowed for a temporary stabilisation.
Supports and resistances:
1.3380
1.3360
1.3320
1.3256 Last
1.3240
1.3190
1.3155
AUD/USD Intraday: continuation of the rebound
Pivot: 0.7680
Our preference: long positions above 0.7680 with targets at 0.7750 and 0.7770 in extension.
Alternative scenario: below 0.7680 look for further downside with 0.7640 and 0.7620 as targets.
Comment: the break above 0.7680 is a positive signal that has opened a path to 0.7750.
Supports and resistances:
0.7790 **
0.7770 **
0.7750 **
0.7684 Last
0.7680 ***
0.7640 **
0.7620 *
Crude Oil WTI (Z7) Intraday: under pressure
Pivot: 54.70
Our preference: short positions below 54.70 with targets at 53.80 and 53.40 in extension.
Alternative scenario: above 54.70 look for further upside with 55.22 and 55.70 as targets.
Comment: technically the RSI is below its neutrality area at 50.
Supports and resistances:
55.70
55.22
54.70
54.10 Last
53.80
53.40
52.80
Gold spot Intraday: bullish bias above 1273.00
Pivot: 1273.00
Our preference: long positions above 1273.00 with targets at 1282.50 and 1286.00 in extension.
Alternative scenario: below 1273.00 look for further downside with 1268.00 and 1265.00 as targets.
Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
Supports and resistances:
1291.00
1286.00
1282.50
1276.40 Last
1273.00
1268.00
1265.00