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FxGrow Daily Technical Analysis – 7th Nov 2017

Nov 8 2017, 09:18 AM (+06) | FxGrow.com
FxGrow Daily Technical Analysis – 7th Nov 2017
By FxGrow Research & Analysis Team

Forex Daily Technical Overview 7 Nov 2017

EUR/USD Intraday: the downside prevails.


Pivot: 1.1620

Our preference: short positions below 1.1620 with targets at 1.1580 & 1.1560 in extension.

Alternative scenario: above 1.1620 look for further upside with 1.1640 & 1.1665 as targets.

Comment: as long as 1.1620 is resistance, look for choppy price action with a bearish bias.

Supports and resistances:
1.1665 **
1.1640 **
1.1620 ***
1.1589 Last
1.1580 *
1.1560 *
1.1530 **

AUD/USD Intraday: intraday support around 0.7670.


Pivot: 0.7670

Our preference: long positions above 0.7670 with targets at 0.7695 & 0.7710 in extension.

Alternative scenario: below 0.7670 look for further downside with 0.7650 & 0.7635 as targets.

Comment: the break above 0.7670 is a positive signal that has opened a path to 0.7695.

Supports and resistances:
0.7730 **
0.7710 **
0.7695 **
0.7677 Last
0.7670 ***
0.7650 *
0.7635 *

USD/JPY Intraday: the downside prevails.


Pivot: 114.15

Our preference: short positions below 114.15 with targets at 113.65 & 113.30 in extension.

Alternative scenario: above 114.15 look for further upside with 114.40 & 114.70 as targets.

Comment: the break below 114.15 is a negative signal that has opened a path to 113.65.

Supports and resistances:
114.70
114.40
114.15
114.13 Last
113.65
113.30
113.00

GBP/USD Intraday: bullish bias above 1.3125.


Pivot: 1.3125

Our preference: long positions above 1.3125 with targets at 1.3190 & 1.3235 in extension.

Alternative scenario: below 1.3125 look for further downside with 1.3080 & 1.3040 as targets.

Comment: the break above 1.3125 is a positive signal that has opened a path to 1.3190.

Supports and resistances:
1.3290 **
1.3235 *
1.3190 *
1.3170 Last
1.3125 ***
1.3080 *
1.3040 *

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


Pivot: 56.75

Our preference: long positions above 56.75 with targets at 58.00 & 58.40 in extension.

Alternative scenario: below 56.75 look for further downside with 56.10 & 55.65 as targets.

Comment: the RSI is supported by a bullish trend line.

Supports and resistances:
59.15
58.40
58.00
57.42 Last
56.75
56.10
55.65

Gold spot Intraday: the bias remains bullish.


Pivot: 1273.00

Our preference: long positions above 1273.00 with targets at 1284.00 & 1290.50 in extension.

Alternative scenario: below 1273.00 look for further downside with 1265.00 & 1260.00 as targets.

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

Supports and resistances:
1296.50
1290.50
1284.00
1277.70 Last
1273.00
1265.00
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)