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FxGrow Daily Technical Analysis – 16th Oct, 2017

Oct 16 2017, 03:23 PM (+06) | FxGrow.com
FxGrow Daily Technical Analysis – 16th Oct, 2017
By FxGrow Research & Analysis Team

FxGrow's Forex Daily Technical Overview

EUR/USD Intraday: under pressure.


Pivot: 1.1825

Our preference: short positions below 1.1825 with targets at 1.1775 & 1.1760 in extension.

Alternative scenario: above 1.1825 look for further upside with 1.1850 & 1.1875 as targets.

Comment: the RSI shows downside momentum.

Supports and resistances:
1.1875
1.1850
1.1825
1.1800 Last
1.1775
1.1760
1.1735

USD/JPY Intraday: intraday support around 111.65.


Pivot: 111.65

Our preference: long positions above 111.65 with targets at 112.05 & 112.25 in extension.

Alternative scenario: below 111.65 look for further downside with 111.40 & 111.20 as targets.

Comment: the RSI lacks downward momentum.

Supports and resistances:
112.45
112.25
112.05
111.86 Last
111.65
111.40
111.20

GBP/USD Intraday: further advance.


Pivot: 1.3260

Our preference: long positions above 1.3260 with targets at 1.3325 & 1.3350 in extension.

Alternative scenario: below 1.3260 look for further downside with 1.3230 & 1.3180 as targets.

Comment: the RSI shows upside momentum.

Supports and resistances:
1.3375
1.3350
1.3325
1.3295 Last
1.3260
1.3230
1.3180

AUD/USD Intraday: the bias remains bullish.


Pivot: 0.7850

Our preference: long positions above 0.7850 with targets at 0.7900 & 0.7920 in extension.

Alternative scenario: below 0.7850 look for further downside with 0.7825 & 0.7805 as targets.

Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

Supports and resistances:
0.7950
0.7920
0.7900
0.7875 Last
0.7850
0.7825
0.7805

Crude Oil‏ (WTI)‏ (X7) Intraday: further advance.


Pivot: 51.35

Our preference: long positions above 51.35 with targets at 52.40 & 52.85 in extension.

Alternative scenario: below 51.35 look for further downside with 50.95 & 50.55 as targets.

Comment: the RSI lacks downward momentum.

Supports and resistances:
53.20
52.85
52.40
51.93 Last
51.35
50.95
50.55

Gold spot Intraday: further advance.


Pivot: 1295.00

Our preference: long positions above 1295.00 with targets at 1310.00 & 1315.00 in extension.

Alternative scenario: below 1295.00 look for further downside with 1290.00 & 1284.00 as targets.

Comment: the RSI is bullish and calls for further advance.

Supports and resistances:
1322.00
1315.00
1310.00
1303.28 Last
1295.00
1290.00
1284.00

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)