Forex Daily Technical Overview 13 Oct 2017

Published on Friday, 13 October 2017 06:49 ,by  FxGrow Investment Research Desk
 



GBP/USD Intraday: the upside prevails.

 
  Pivot: 1.3220
 
Our preference: long positions above 1.3220 with targets at 1.3290 & 1.3345 in extension.
 
Alternative scenario: below 1.3220 look for further downside with 1.3175 & 1.3125 as targets.
 
Comment: the RSI is bullish and calls for further upside.
 
Supports and resistances:
1.3400 
1.3345 
1.3290 
1.3265 Last
1.3220 
1.3175 
1.3125 

USD/JPY Intraday: capped by a negative trend line.
 
  Pivot: 112.45
 
Our preference: short positions below 112.45 with targets at 111.95 & 111.80 in extension.
 
Alternative scenario: above 112.45 look for further upside with 112.60 & 112.80 as targets.
 
Comment: the RSI is capped by a declining trend line.
 
Supports and resistances:
112.80 
112.60 
112.45 
112.15 Last
111.95 
111.80 
111.55 

EUR/USD Intraday: caution.
 
  Pivot: 1.1855
 
Our preference: short positions below 1.1855 with targets at 1.1820 & 1.1795 in extension.
 
Alternative scenario: above 1.1855 look for further upside with 1.1880 & 1.1900 as targets.
 
Comment: intraday technical indicators are mixed and call for caution.
 
Supports and resistances:
1.1900 
1.1880 
1.1855 
1.1835 Last
1.1820 
1.1795 
1.1760 

AUD/USD Intraday: the bias remains bullish.
 
  Pivot: 0.7805
 
Our preference: long positions above 0.7805 with targets at 0.7855 & 0.7875 in extension.
 
Alternative scenario: below 0.7805 look for further downside with 0.7785 & 0.7770 as targets.
 
Comment: technically the RSI is above its neutrality area at 50.
 
Supports and resistances:
0.7900 
0.7875 
0.7855 
0.7830 Last
0.7805 
0.7785 
0.7770 

Crude Oil‏ (WTI)‏ (X7) Intraday: rebound expected.
 
  Pivot: 50.25
 
Our preference: long positions above 50.25 with targets at 51.10 & 51.40 in extension.
 
Alternative scenario: below 50.25 look for further downside with 49.75 & 49.20 as targets.
 
Comment: the RSI advocates for further advance. A strong support base around 50.25 (the previous swing low) has formed,and should limit any downward attempts.
 
Supports and resistances:
51.75 
51.40 
51.10 
50.94 Last
50.25 
49.75 
49.20 

 Gold spot Intraday: the upside prevails.
 
  Pivot: 1289.50
 
Our preference: long positions above 1289.50 with targets at 1301.00 & 1306.00 in extension.
 
Alternative scenario: below 1289.50 look for further downside with 1284.00 & 1281.00 as targets.
 
Comment: the RSI advocates for further advance.
 
Supports and resistances:
1310.00 
1306.00 
1301.00 
1295.70 Last
1289.50 
1284.00 
1281.00 

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