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FxGrow Daily Technical Analysis – 23rd Oct, 2017

Oct 23 2017, 04:10 PM (+06) | FxGrow.com
FxGrow Daily Technical Analysis – 23rd Oct, 2017
By FxGrow Research & Analysis Team

Forex Daily Technical Overview 23 Oct 2017

GBP/USD Intraday: the bias remains bullish.


Pivot: 1.3145

Our preference: long positions above 1.3145 with targets at 1.3225 & 1.3260 in extension.

Alternative scenario: below 1.3145 look for further downside with 1.3100 & 1.3060 as targets.

Comment: the RSI is mixed to bullish.

Supports and resistances:
1.3290
1.3260
1.3225
1.3190 Last
1.3145
1.3100
1.3060


USD/JPY Intraday: the bias remains bullish.


Pivot: 113.45

Our preference: long positions above 113.45 with targets at 114.30 & 114.80 in extension.

Alternative scenario: below 113.45 look for further downside with 113.05 & 112.70 as targets.

Comment: the RSI shows upside momentum.

Supports and resistances:
115.35
114.80
114.30
113.85 Last
113.45
113.05
112.70


EUR/USD Intraday: the downside prevails.


Pivot: 1.1790

Our preference: short positions below 1.1790 with targets at 1.1740 & 1.1720 in extension.

Alternative scenario: above 1.1790 look for further upside with 1.1820 & 1.1840 as targets.

Comment: the RSI shows downside momentum.

Supports and resistances:
1.1840
1.1820
1.1790
1.1760 Last
1.1740
1.1720
1.1700

AUD/USD Intraday: under pressure.


Pivot: 0.7835

Our preference: short @ 0.7820 with targets @ 0.7800 & 0.7780 in extension.

Alternative scenario: above 0.7835 look for further upside with 0.7855 & 0.7870 as targets.

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

Supports and resistances:
0.7870
0.7855
0.7835
0.7820 Last
0.7800
0.7780
0.7765

Crude Oil‏ (WTI)‏ (Z7) Intraday: further advance.


Pivot: 51.60

Our preference: long positions above 51.60 with targets at 52.40 & 52.60 in extension.

Alternative scenario: below 51.60 look for further downside with 51.30 & 50.85 as targets.

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

Supports and resistances:
52.80
52.60
52.40
52.16 Last
51.60
51.30
50.85

Gold spot Intraday: capped by a negative trend line.


Pivot: 1282.00

Our preference: short positions below 1282.00 with targets at 1270.00 & 1265.00 in extension.

Alternative scenario: above 1282.00 look for further upside with 1286.00 & 1291.00 as targets.

Comment: the RSI is capped by a bearish trend line.

Supports and resistances:
1291.00
1286.00
1282.00
1274.94 Last
1270.00
1265.00
1261.00

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)