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FxGrow's Forex Daily Technical Overview

Oct 17 2017, 05:09 PM (+06) | FxGrow.com
FxGrow Daily Technical Analysis – 17th Oct, 2017
By FxGrow Research & Analysis Team

FxGrow's Forex Daily Technical Overview

GBP/USD Intraday: under pressure.


Pivot: 1.3290

Our preference: short positions below 1.3290 with targets at 1.3220 & 1.3180 in extension.

Alternative scenario: above 1.3290 look for further upside with 1.3325 & 1.3350 as targets.

Comment: as long as the resistance at 1.3290 is not surpassed, the risk of the break below 1.3220 remains high.

Supports and resistances:
1.3350
1.3325
1.3290
1.3259 Last
1.3220
1.3180
1.3150

USD/JPY Intraday: the upside prevails.


Pivot: 111.85

Our preference: long positions above 111.85 with targets at 112.30 & 112.55 in extension.

Alternative scenario: below 111.85 look for further downside with 111.65 & 111.40 as targets.

Comment: the RSI shows upside momentum.

Supports and resistances:
112.80
112.55
112.30
112.10 Last
111.85
111.65
111.40

EUR/USD Intraday: the downside prevails.


Pivot: 1.1800

Our preference: short positions below 1.1800 with targets at 1.1740 & 1.1715 in extension.

Alternative scenario: above 1.1800 look for further upside with 1.1815 & 1.1835 as targets.

Comment: the RSI is bearish and calls for further downside.

Supports and resistances:
1.1835
1.1815
1.1800
1.1765 Last
1.1740
1.1715
1.1695

AUD/USD Intraday: consolidation.


Pivot: 0.7875

Our preference: short positions below 0.7875 with targets at 0.7825 & 0.7805 in extension.

Alternative scenario: above 0.7875 look for further upside with 0.7900 & 0.7925 as targets.

Comment: as long as 0.7875 is resistance, look for choppy price action with a bearish bias.

Supports and resistances:
0.7925
0.7900
0.7875
0.7850 Last
0.7825
0.7805
0.7770

Crude Oil‏ (WTI)‏ (X7) Intraday: the bias remains bullish.


Pivot: 51.50

Our preference: long positions above 51.50 with targets at 52.40 & 52.85 in extension.

Alternative scenario: below 51.50 look for further downside with 50.95 & 50.55 as targets.

Comment: the RSI is mixed with a bullish bias.

Supports and resistances:
53.20
52.85
52.40
51.90 Last
51.50
50.95
50.55

Gold spot Intraday: under pressure.


Pivot: 1296.00

Our preference: short positions below 1296.00 with targets at 1284.00 & 1282.00 in extension.

Alternative scenario: above 1296.00 look for further upside with 1300.00 & 1306.00 as targets.

Comment: the RSI is bearish and calls for further downside.

Supports and resistances:
1306.00
1300.00
1296.00
1290.40 Last
1284.00
1282.00
1279.50

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)