FxGrow Daily Technical Analysis – 24th Oct, 2017
By FxGrow Research & Analysis Team
Forex Daily Technical Overview 24 Oct 2017
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.
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
For more in depth Research & Analysis please visit FxGrow.
Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.
By FxGrow Research & Analysis Team
Forex Daily Technical Overview 24 Oct 2017
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.
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
For more in depth Research & Analysis please visit FxGrow.
Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.