Forex Daily Technical Overview 23 Nov 2017
GBP/USD Intraday: further advance
Pivot: 1.3280
Our preference: long positions above 1.3280 with targets at 1.3345 and 1.3375 in extension.
Alternative scenario: below 1.3280 look for further downside with 1.3255 and 1.3220 as targets.
Comment: the RSI shows upside momentum.
Supports and resistances:
1.3405
1.3375
1.3345
1.3310 Last
1.3280
1.3255
1.3220
USD/JPY Intraday: the downside prevails
Pivot: 111.95
Our preference: short positions below 111.95 with targets at 111.00 and 110.65 in extension.
Alternative scenario: above 111.95 look for further upside with 112.40 and 112.70 as targets.
Comment: even though a continuation of the technical rebound cannot be ruled out, its extent should be limited.
Supports and resistances:
112.70
112.40
111.95
111.50 Last
111.00
110.65
110.25
EUR/USD Intraday: the bias remains bullish
Pivot: 1.1785
Our preference: long positions above 1.1785 with targets at 1.1850 and 1.1880 in extension.
Alternative scenario: below 1.1785 look for further downside with 1.1755 and 1.1735 as targets.
Comment: the RSI is mixed to bullish.
Supports and resistances:
1.1910
1.1880
1.1850
1.1820 Last
1.1785
1.1755
1.1735
AUD/USD Intraday: the upside prevails
Pivot: 0.7590
Our preference: long positions above 0.7590 with targets at 0.7625 and 0.7650 in extension.
Alternative scenario: below 0.7590 look for further downside with 0.7560 and 0.7530 as targets.
Comment: the RSI shows upside momentum.
Supports and resistances:
0.7675 ***
0.7650 ***
0.7625 ***
0.7610 Last
0.7590 ***
0.7560 ***
0.7530 ***
Crude Oil (F8) Intraday: supported by a rising trend line
Pivot: 57.50
Our preference: long positions above 57.50 with targets at 58.20 and 58.60 in extension.
Alternative scenario: below 57.50 look for further downside with 57.15 and 56.85 as targets.
Comment: the RSI lacks downward momentum.
Supports and resistances:
59.00
58.60
58.20
57.90 Last
57.50
57.15
56.85
Gold spot Intraday: bullish bias above 1284.00
Pivot: 1284.00
Our preference: long positions above 1284.00 with targets at 1297.00 and 1300.00 in extension.
Alternative scenario: below 1284.00 look for further downside with 1279.00 and 1276.00 as targets.
Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
Supports and resistances:
1303.50
1300.00
1297.00
1289.27 Last
1284.00
1279.00
1276.00