Daily Technical Analysis Tue, Oct 17, 2017
* Please note that due to market volatility, some of the below sight prices may have already been reached and scenarios played out.
#EUR/USD Intraday: consolidation.
Pivot: 1.1815
Most Likely Scenario: short positions below 1.1815 with targets at 1.1760 & 1.1740 in extension.
Alternative scenario: above 1.1815 look for further upside with 1.1835 & 1.1850 as targets.
Comment: the RSI is bearish and calls for further downside.
#GBP/USD Intraday: as long as the resistance at 1.3290 is not surpassed, the risk of the break below 1.3220 remains high.
Pivot: 1.3290
Most Likely Scenario: 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.
#USD/JPY Intraday: the RSI shows upside momentum.
Pivot: 111.85
Most Likely Scenario: 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.
#AUD/USD Intraday: as long as 0.7875 is resistance, look for choppy price action with a bearish bias.
Pivot: 0.7875
Most Likely Scenario: 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.
#Gold spot Intraday: the RSI calls for a new downleg.
Pivot: 1299.00
Most Likely Scenario: short positions below 1299.00 with targets at 1290.00 & 1284.00 in extension.
Alternative scenario: above 1299.00 look for further upside with 1306.00 & 1310.00 as targets.
Comment: the RSI calls for a new downleg.
Pivot: 1.1815
Most Likely Scenario: short positions below 1.1815 with targets at 1.1760 & 1.1740 in extension.
Alternative scenario: above 1.1815 look for further upside with 1.1835 & 1.1850 as targets.
Comment: the RSI is bearish and calls for further downside.
#GBP/USD Intraday: as long as the resistance at 1.3290 is not surpassed, the risk of the break below 1.3220 remains high.
Pivot: 1.3290
Most Likely Scenario: 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.
#USD/JPY Intraday: the RSI shows upside momentum.
Pivot: 111.85
Most Likely Scenario: 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.
#AUD/USD Intraday: as long as 0.7875 is resistance, look for choppy price action with a bearish bias.
Pivot: 0.7875
Most Likely Scenario: 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.
#Gold spot Intraday: the RSI calls for a new downleg.
Pivot: 1299.00
Most Likely Scenario: short positions below 1299.00 with targets at 1290.00 & 1284.00 in extension.
Alternative scenario: above 1299.00 look for further upside with 1306.00 & 1310.00 as targets.
Comment: the RSI calls for a new downleg.
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