Forex Daily Technical Overview 12 Oct 2017

Published on Thursday, 12 October 2017 08:03 ,by  FxGrow Investment Research Desk


GBP/USD Intraday: the upside prevails.

 
  Pivot: 1.3210
 
Our preference: long positions above 1.3210 with targets at 1.3290 & 1.3320 in extension.
 
Alternative scenario: below 1.3210 look for further downside with 1.3175 & 1.3130 as targets.
 
Comment: the RSI shows upside momentum.
 
Supports and resistances:
1.3345 
1.3320 
1.3290 
1.3250 Last
1.3210 
1.3175 
1.3130 

USD/JPY Intraday: under pressure.
 
  Pivot: 112.60
 
Our preference: short positions below 112.60 with targets at 112.10 & 111.95 in extension.
 
Alternative scenario: above 112.60 look for further upside with 112.80 & 113.05 as targets.
 
Comment: the RSI shows downside momentum.
 
Supports and resistances:
113.05 
112.80 
112.60 
112.35 Last
112.10 
111.95 
111.80 

 EUR/USD Intraday: the upside prevails.
 
  Pivot: 1.1830
 
Our preference: long positions above 1.1830 with targets at 1.1890 & 1.1925 in extension.
 
Alternative scenario: below 1.1830 look for further downside with 1.1795 & 1.1760 as targets.
 
Comment: the RSI is mixed to bullish.
 
Supports and resistances:
1.1960 
1.1925 
1.1890 
1.1862 Last
1.1830 
1.1795 
1.1760 


  AUD/USD Intraday: further upside.
 
  Pivot: 0.7790
 
Our preference: long positions above 0.7790 with targets at 0.7840 & 0.7860 in extension.
 
Alternative scenario: below 0.7790 look for further downside with 0.7770 & 0.7745 as targets.
 
Comment: the RSI shows upside momentum.
 
Supports and resistances:
0.7875 
0.7860 
0.7840 
0.7815 Last
0.7790 
0.7770 
0.7745 

Crude Oil‏ (WTI)‏ (X7) Intraday: the bias remains bullish.
 
  Pivot: 50.82
 
Our preference: long positions above 50.82 with targets at 51.40 & 51.75 in extension.
 
Alternative scenario: below 50.82 look for further downside with 50.45 & 50.05 as targets.
 
Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
 
Supports and resistances:
52.10 
51.75 
51.40 
51.00 Last
50.82 
50.45 
50.05 

 Gold spot Intraday: further advance.
 
  Pivot: 1290.00
 
Our preference: long positions above 1290.00 with targets at 1301.00 & 1306.00 in extension.
 
Alternative scenario: below 1290.00 look for further downside with 1284.00 & 1281.00 as targets.
 
Comment: the RSI is bullish and calls for further advance.
 
Supports and resistances:
1310.00 
1306.00 
1301.00 
1296.60 Last
1290.00 
1284.00 
 
1281.00 
 
 

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