Fx Majors Technical Overview Ahead of U.S CPI Data

Published on Wednesday, 14 February 2018 07:33 ,by  FxGrow Investment Research Desk


EUR/USD Intraday: the bias remains bullish.


 
 Pivot: 1.2340
 
Our preference: long positions above 1.2340 with targets at 1.2405 & 1.2435 in extension.
 
Alternative scenario: below 1.2340 look for further downside with 1.2305 & 1.2275 as targets.
 
Comment: the RSI is bullish and calls for further advance.
 
Supports and resistances:
 
1.2465 1.2435 1.2405
 
1.2370 Last
 
1.2340 1.2305 1.2275
 
 
GBP/USD Intraday: the bias remains bullish.


 
 Pivot: 1.3850
 
Our preference: long positions above 1.3850 with targets at 1.3925 & 1.3980 in extension.
 
Alternative scenario: below 1.3850 look for further downside with 1.3800 & 1.3760 as targets.
 
Comment: the RSI shows upside momentum.
 
Supports and resistances:
 
1.4050 1.3980 1.3925
 
1.3895 Last seen
 
1.3850 1.3800 1.3760
 
USD/JPY Intraday: the downside prevails.


 
 Pivot: 107.85
 
Our preference: short positions below 107.85 with targets at 106.60 & 106.15 in extension.
 
Alternative scenario: above 107.85 look for further upside with 108.20 & 108.50 as targets.
 
Comment: the RSI is mixed to bearish.
 
Supports and resistances:
 
108.50 108.20 107.85
 
107.20 Last seen
 
106.60 106.15 105.70

 
USD/CAD Intraday: under pressure.


 
 Pivot: 1.2630
 
Our preference: short positions below 1.2630 with targets at 1.2550 & 1.2500 in extension.
 
Alternative scenario: above 1.2630 look for further upside with 1.2685 & 1.2725 as targets.
 
Comment: the RSI shows downside momentum.
 
Supports and resistances:
 
1.2725 1.2685 1.2630
 
1.2580 Last seen
 
1.2550 1.2500 1.2460
 
NZD/USD Intraday: the upside prevails.


 
 Pivot: 0.7285
 
Our preference: long positions above 0.7285 with targets at 0.7350 & 0.7380 in extension.
 
Alternative scenario: below 0.7285 look for further downside with 0.7265 & 0.7245 as targets.
 
Comment: the RSI shows upside momentum.
 
Supports and resistances:
 
0.7400 0.7380 0.7350
 
0.7315 Last seen
 
0.7285 0.7265 0.7245

 
AUD/USD Intraday: the upside prevails.


 
 Pivot: 0.7850
 
Our preference: long positions above 0.7850 with targets at 0.7895 & 0.7915 in extension.
 
Alternative scenario: below 0.7850 look for further downside with 0.7825 & 0.7805 as targets.
 
Comment: the RSI shows upside momentum.
 
Supports and resistances:
 
0.7940 0.7915 0.7895
 
0.7875 Last seen
 
0.7850 0.7825 0.7805

 
Gold spot Intraday: the upside prevails.


 
 Pivot: 1326.00
 
Our preference: long positions above 1326.00 with targets at 1339.00 & 1346.00 in extension.
 
Alternative scenario: below 1326.00 look for further downside with 1321.00 & 1316.00 as targets.
 
Comment: the RSI is supported by a bullish trend line. Prices are ranging within a bullish channel.
 
Supports and resistances:
 
1351.00 1346.00 1339.00
 
1332.50 Last seen
 
1326.00 1321.00 1316.00


 
Crude Oil(WTI) (H18) Intraday: bullish bias above 59.70.


 
 Pivot: 59.70
 
Our preference: short positions below 59.70 with targets at 58.40 & 58.05 in extension.
 
Alternative scenario: above 59.70 look for further upside with 60.25 & 60.75 as targets.
 
Comment: as long as the resistance at 59.70 is not surpassed, the risk of the break below 58.40 remains high. The RSI lacks upward momentum.
 
Supports and resistances:
 
60.75 60.25 59.70
 
59.18 Last seen
 
58.40 58.05 57.25

 

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