🚀 ProPicks AI Hits +34.9% Return!Read Now

Forex Daily Technical Overview For Oct. 31, 2017

Published 2017-10-31, 08:42 a/m
EUR/USD
-
GBP/USD
-
USD/JPY
-
AUD/USD
-

1
GBP/USD Intraday: the bias remains bullish.

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
2
USD/JPY Intraday: consolidation.

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
3
EUR/USD Intraday: intraday support around 1.1600.

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
4
AUD/USD Intraday: bullish bias above 0.7650.

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
5
Crude Oil‏ (WTI)‏ (Z7) Intraday: the bias remains bullish.

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
6
Gold spot Intraday: the bias remains bullish.

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

Original Post

Latest comments

Loading next article…
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.