Forex Daily Technical Overview 21 Nov 2017
GBP/USD Intraday: the bias remains bullish.
Pivot: 1.3220
Our preference: long positions above 1.3220 with targets at 1.3280 and 1.3300 in extension.
Alternative scenario: below 1.3220 look for further downside with 1.3200 and 1.3180 as targets.
Comment: the RSI advocates for further upside.
Supports and resistances:
1.3320
1.3300
1.3280
1.3250 Last
1.3220
1.3200
1.3180
USD/JPY Intraday: the bias remains bullish.
Pivot: 112.20
Our preference: long positions above 112.20 with targets at 112.75 and 113.00 in extension.
Alternative scenario: below 112.20 look for further downside with 111.90 and 111.60 as targets.
Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
Supports and resistances:
113.35 ***
113.00 ***
112.75 ***
112.45 Last
112.20 **
111.90 ***
111.60 **
EUR/USD Intraday: consolidation.
Pivot: 1.1770
Our preference: short positions below 1.1770 with targets at 1.1720 and 1.1685 in extension.
Alternative scenario: above 1.1770 look for further upside with 1.1810 and 1.1850 as targets.
Comment: the RSI lacks upward momentum.
Supports and resistances:
1.1850
1.1810
1.1770
1.1745 Last
1.1720
1.1685
1.1650
AUD/USD Intraday: the downside prevails.
Pivot: 0.7570
Our preference: short positions below 0.7570 with targets at 0.7510 and 0.7490 in extension.
Alternative scenario: above 0.7570 look for further upside with 0.7590 and 0.7610 as targets.
Comment: the RSI is mixed to bearish.
Supports and resistances:
0.7610 ***
0.7590 **
0.7570 ***
0.7535 Last
0.7510 ***
0.7490 **
0.7465 ***
Crude Oil (WTI) (F8) Intraday: rebound expected.
Pivot: 56.25
Our preference: long positions above 56.25 with targets at 56.65 and 56.95 in extension.
Alternative scenario: below 56.25 look for further downside with 55.95 and 55.75 as targets.
Comment: the RSI is mixed with a bullish bias.
Supports and resistances:
57.20
56.95
56.65
56.45 Last
56.25
55.95
55.75
Gold spot Intraday: key resistance at 1285.00.
Pivot: 1285.00
Our preference: short positions below 1285.00 with targets at 1274.00 and 1271.50 in extension.
Alternative scenario: above 1285.00 look for further upside with 1290.00 and 1293.50 as targets.
Comment: the upward potential is likely to be limited by the resistance at 1285.00.
Supports and resistances:
1293.50
1290.00
1285.00
1280.70 Last
1274.00
1271.50
1266.00