Daily Technical Analysis Wed, Oct 04, 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: the bias remains bullish.
Pivot: 1.1735
Most Likely Scenario: long positions above 1.1735 with targets at 1.1800 & 1.1825 in extension.
Alternative scenario: below 1.1735 look for further downside with 1.1715 & 1.1695 as targets.
Comment: the RSI shows upside momentum.
#GBP/USD Intraday: the upward potential is likely to be limited by the resistance at 1.3290.
Pivot: 1.3290
Most Likely Scenario: short positions below 1.3290 with targets at 1.3230 & 1.3205 in extension.
Alternative scenario: above 1.3290 look for further upside with 1.3355 & 1.3400 as targets.
Comment: the upward potential is likely to be limited by the resistance at 1.3290.
#USD/JPY Intraday: the RSI shows downside momentum.
Pivot: 112.95
Most Likely Scenario: short positions below 112.95 with targets at 112.30 & 112.05 in extension.
Alternative scenario: above 112.95 look for further upside with 113.20 & 113.50 as targets.
Comment: the RSI shows downside momentum.
#AUD/USD Intraday: the RSI is bullish and calls for further upside.
Pivot: 0.7825
Most Likely Scenario: long positions above 0.7825 with targets at 0.7875 & 0.7890 in extension.
Alternative scenario: below 0.7825 look for further downside with 0.7800 & 0.7785 as targets.
Comment: the RSI is bullish and calls for further upside.
#Gold spot Intraday: the index currently faces a challenging resistance area at 1277.00.
Pivot: 1277.00
Most Likely Scenario: short positions below 1277.00 with targets at 1270.50 & 1268.00 in extension.
Alternative scenario: above 1277.00 look for further upside with 1281.00 & 1286.50 as targets.
Comment: the index currently faces a challenging resistance area at 1277.00.
Pivot: 1.1735
Most Likely Scenario: long positions above 1.1735 with targets at 1.1800 & 1.1825 in extension.
Alternative scenario: below 1.1735 look for further downside with 1.1715 & 1.1695 as targets.
Comment: the RSI shows upside momentum.
#GBP/USD Intraday: the upward potential is likely to be limited by the resistance at 1.3290.
Pivot: 1.3290
Most Likely Scenario: short positions below 1.3290 with targets at 1.3230 & 1.3205 in extension.
Alternative scenario: above 1.3290 look for further upside with 1.3355 & 1.3400 as targets.
Comment: the upward potential is likely to be limited by the resistance at 1.3290.
#USD/JPY Intraday: the RSI shows downside momentum.
Pivot: 112.95
Most Likely Scenario: short positions below 112.95 with targets at 112.30 & 112.05 in extension.
Alternative scenario: above 112.95 look for further upside with 113.20 & 113.50 as targets.
Comment: the RSI shows downside momentum.
#AUD/USD Intraday: the RSI is bullish and calls for further upside.
Pivot: 0.7825
Most Likely Scenario: long positions above 0.7825 with targets at 0.7875 & 0.7890 in extension.
Alternative scenario: below 0.7825 look for further downside with 0.7800 & 0.7785 as targets.
Comment: the RSI is bullish and calls for further upside.
#Gold spot Intraday: the index currently faces a challenging resistance area at 1277.00.
Pivot: 1277.00
Most Likely Scenario: short positions below 1277.00 with targets at 1270.50 & 1268.00 in extension.
Alternative scenario: above 1277.00 look for further upside with 1281.00 & 1286.50 as targets.
Comment: the index currently faces a challenging resistance area at 1277.00.
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