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FxGrow Daily Technical Analysis – 11th Oct, 2017

Oct 11 2017, 07:46 AM (CDT) | FxGrow.com
FxGrow Daily Technical Analysis – 11th Oct, 2017
By FxGrow Research & Analysis Team

FxGrow's Forex Daily Technical Overview - Part 2


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

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.

FxGrow.com

FxGrow is an international online brokerage firm under the brand name of Growell Capital, catering the needs and interests of investors. It’s authorized and regulated by the Cyprus Securities and Exchange Commission ("CySEC") as a CIF limited company with a license number 214/13. FxGrow operates under the EU Markets in Financial Instruments Directive (MiFID)