Forex Daily Technical Overview 11 Oct 2017

Published on Wednesday, 11 October 2017 06:51 ,by  FxGrow Investment Research Desk



GBP/USD Intraday: the bias remains bullish.

 
  Pivot: 1.3175
 
Our preference: long positions above 1.3175 with targets at 1.3225 & 1.3260 in extension.
 
Alternative scenario: below 1.3175 look for further downside with 1.3130 & 1.3100 as targets.
 
Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
 
Supports and resistances:
1.3290 
1.3260 
1.3225 
1.3200 Last
1.3175 
1.3130 
1.3100 

USD/JPY Intraday: the upside prevails.
 
  Pivot: 112.20
 
Our preference: long positions above 112.20 with targets at 112.55 & 112.80 in extension.
 
Alternative scenario: below 112.20 look for further downside with 111.95 & 111.65 as targets.
 
Comment: the RSI has just landed on its neutrality area at 50% and is turning up.
 
Supports and resistances:
113.05 
112.80 
112.55 
112.40 Last
112.20 
111.95 
111.65 

 EUR/USD Intraday: further upside.
 
  Pivot: 1.1785
 
Our preference: long positions above 1.1785 with targets at 1.1860 & 1.1890 in extension.
 
Alternative scenario: below 1.1785 look for further downside with 1.1760 & 1.1735 as targets.
 
Comment: the RSI shows upside momentum.
 
Supports and resistances:
1.1915 
1.1890 
1.1860 
1.1818 Last
1.1785 
1.1760 
1.1735 

AUD/USD Intraday: bullish bias above 0.7770.
 
  Pivot: 0.7770
 
Our preference: long positions above 0.7770 with targets at 0.7800 & 0.7820 in extension.
 
Alternative scenario: below 0.7770 look for further downside with 0.7745 & 0.7730 as targets.
 
Comment: a support base at 0.7770 has formed and has allowed for a temporary stabilisation.
 
Supports and resistances:
0.7840 
0.7820 
0.7800 
0.7785 Last
0.7770 
0.7745 
0.7730 

Crude Oil‏ (WTI)‏ (X7) Intraday: bullish bias above 50.70.
 
  Pivot: 50.70
 
Our preference: long positions above 50.70 with targets at 51.20 & 51.50 in extension.
 
Alternative scenario: below 50.70 look for further downside with 50.45 & 50.00 as targets.
 
Comment: the RSI lacks downward momentum. The prices remain bullish above the horizontal support at 50.70, and are likely to challenge the resistance at 51.20, representing Oct 5 top.
 
Supports and resistances:
51.75 
51.50 
51.20 
51.07 Last
50.70 
50.45 
50.00 

Gold spot Intraday: bullish bias above 1285.00.
 
  Pivot: 1285.00
 
Our preference: long positions above 1285.00 with targets at 1294.00 & 1297.00 in extension.
 
Alternative scenario: below 1285.00 look for further downside with 1281.00 & 1279.00 as targets.
 
Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
 
Supports and resistances:
1301.00 
1297.00 
1294.00 
1288.22 Last
1285.00 
1281.00 
1279.00 

AWARDS

NEED HELP?

chat LIVE CHAT

FOLLOW US

OPEN ACCOUNT

* TRADING FOREX AND CFDS IS RISKY
DON'T HAVE AN ACCOUNT YET?
* TRADING FOREX AND CFD IS RISKY
X
 x 

Request a call back

Please fill out and submit the form below and we will call you back

CallBack EN
  1. Name*
    Please provide your First Name
  2. Phone*
    +Invalid Input
    Please Provide Your phone number
  3. Best time to call
    Invalid Input
    xWhat is the best time to call?
    00
    00
    AM

×
RISK WARNING : FOREX and CFDs are high risk leveraged products and can result in the loss of all invested capital. CFDs may not be suitable for all investors. Please read our full Risk Disclosure Statement.
RISK WARNING : FOREX and CFDs are high risk leveraged products and can result in the loss of all invested capital. CFDs may not be suitable for all investors. Please read our full Risk Disclosure Statement.