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FxGrow Daily Technical Analysis – 31st Oct, 2017

Oct 31 2017, 08:26 AM (CDT) | FxGrow.com

FxGrow Daily Technical Analysis – 31st Oct, 2017
By FxGrow Research & Analysis Team

Forex Daily Technical Overview 31 Oct 2017

GBP/USD Intraday: the bias remains bullish.
[​IMG]
Pivot: 1.3165
Our preference: long positions above 1.3165 with targets at 1.3235 & 1.3280 in extension.
Alternative scenario: below 1.3165 look for further downside with 1.3125 & 1.3080 as targets.
Comment: the RSI is mixed to bullish.
Supports and resistances:
1.3325
1.3280
1.3235
1.3210 Last
1.3165
1.3125
1.3080

USD/JPY Intraday: consolidation.
[​IMG]
Pivot: 113.55
Our preference: short positions below 113.55 with targets at 112.95 & 112.70 in extension.
Alternative scenario: above 113.55 look for further upside with 113.80 & 114.00 as targets.
Comment: the RSI lacks upward momentum.
Supports and resistances:
114.00
113.80
113.55
113.21 Last
112.95
112.70
112.30

EUR/USD Intraday: intraday support around 1.1600.
[​IMG]
Pivot: 1.1600
Our preference: long positions above 1.1600 with targets at 1.1675 & 1.1710 in extension.
Alternative scenario: below 1.1600 look for further downside with 1.1570 & 1.1520 as targets.
Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
Supports and resistances:
1.1750
1.1710
1.1675
1.1637 Last
1.1600
1.1570
1.1520

AUD/USD Intraday: bullish bias above 0.7650.
[​IMG]
Pivot: 0.7650
Our preference: long positions above 0.7650 with targets at 0.7700 & 0.7720 in extension.
Alternative scenario: below 0.7650 look for further downside with 0.7625 & 0.7605 as targets.
Comment: the RSI is mixed to bullish.
Supports and resistances:
0.7745
0.7720
0.7700
0.7670 Last
0.7650
0.7625
0.7605

Crude Oil‏ (WTI)‏ (Z7) Intraday: the bias remains bullish.
[​IMG]
Pivot: 53.60
Our preference: long positions above 53.60 with targets at 54.50 & 54.75 in extension.
Alternative scenario: below 53.60 look for further downside with 53.15 & 52.85 as targets.
Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
Supports and resistances:
55.00
54.75
54.50
53.97 Last
53.60
53.15
52.85

Gold spot Intraday: the bias remains bullish.
[​IMG]
Pivot: 1271.50
Our preference: long positions above 1271.50 with targets at 1279.00 & 1283.00 in extension.
Alternative scenario: below 1271.50 look for further downside with 1268.50 & 1260.00 as targets.
Comment: the RSI is supported by a rising trend line.
Supports and resistances:
1288.00
1283.00
1279.00
1276.22 Last
1271.50
1268.50
1260.00

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)