FxGrow Support Posted October 10, 2017 Author Report Share Posted October 10, 2017 FxGrow Daily Technical Analysis – 10th October, 2017By FxGrow Research & Analysis Team GBP/USD Surpasses 50-EMA Over Upbeat Manufacturing Production Data GBP/USD extends the recovery for the third consecutive session rallying from 1.3027 low on Friday, clocking 1.3198 high today after receiving a positive push by Manufacturing Production at 0.4% while expectations placed at 0.2%. On the other hand, the U.S Dollar continues to show weakness since Friday, dipping to to 93.21 low today, giving the Pound a wilder tone. Technical Overview GBP/USD Closing Price: (1.3140) Target: 1.2956? Resistance levels: 1.3168, 1.3220, 1.3290* Support levels: 1.3130, 1.3027-, 1.2986 Trend: Down Trend Reversal Price: 1.3290 Comment The market is short term bearish and a close under 1.3130 warns for pressing selloffs to 12986. Monday's rebound may carry over into today, but any corrections contained within last Thursday's range for 1-2 days should bear flag and keep the bear trend forces intact. A close over 1.3290* is needed for a short term bottoming turnaround. For more in depth Research & Analysis please visit FxGrow. Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision. Link to comment Share on other sites More sharing options...
FxGrow Support Posted October 11, 2017 Author Report Share Posted October 11, 2017 FxGrow Daily Technical Analysis – 11th Oct, 2017By FxGrow Research & Analysis Team FxGrow's Forex Daily Technical Overview - Part 1 EUR/USD Intraday: further upside. Pivot: 1.1785 Our preference: long positions above 1.1785 with targets at 1.1860 & 1.1890 in extension. Alternative scenario: below 1.1785 look for further downside with 1.1760 & 1.1735 as targets. Comment: the RSI shows upside momentum. Supports and resistances: 1.1915 1.1890 1.1860 1.1818 Last 1.1785 1.1760 1.1735 GBP/USD Intraday: the bias remains bullish. Pivot: 1.3175 Our preference: long positions above 1.3175 with targets at 1.3225 & 1.3260 in extension. Alternative scenario: below 1.3175 look for further downside with 1.3130 & 1.3100 as targets. Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited. Supports and resistances: 1.3290 1.3260 1.3225 1.3200 Last 1.3175 1.3130 1.3100 USD/JPY Intraday: the upside prevails. Pivot: 112.20 Our preference: long positions above 112.20 with targets at 112.55 & 112.80 in extension. Alternative scenario: below 112.20 look for further downside with 111.95 & 111.65 as targets. Comment: the RSI has just landed on its neutrality area at 50% and is turning up. Supports and resistances: 113.05 112.80 112.55 112.40 Last 112.20 111.95 111.65 For more in depth Research & Analysis please visit FxGrow. Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision. Link to comment Share on other sites More sharing options...
FxGrow Support Posted October 11, 2017 Author Report Share Posted October 11, 2017 FxGrow Daily Technical Analysis – 11th Oct, 2017By FxGrow Research & Analysis Team FxGrow's Forex Daily Technical Overview - Part 2 AUD/USD Intraday: bullish bias above 0.7770. Pivot: 0.7770 Our preference: long positions above 0.7770 with targets at 0.7800 & 0.7820 in extension. Alternative scenario: below 0.7770 look for further downside with 0.7745 & 0.7730 as targets. Comment: a support base at 0.7770 has formed and has allowed for a temporary stabilisation. Supports and resistances: 0.7840 0.7820 0.7800 0.7785 Last 0.7770 0.7745 0.7730 Crude Oil (WTI) (X7) Intraday: bullish bias above 50.70. Pivot: 50.70 Our preference: long positions above 50.70 with targets at 51.20 & 51.50 in extension. Alternative scenario: below 50.70 look for further downside with 50.45 & 50.00 as targets. Comment: the RSI lacks downward momentum. The prices remain bullish above the horizontal support at 50.70, and are likely to challenge the resistance at 51.20, representing Oct 5 top. Supports and resistances: 51.75 51.50 51.20 51.07 Last 50.70 50.45 50.00 Gold spot Intraday: bullish bias above 1285.00. Pivot: 1285.00 Our preference: long positions above 1285.00 with targets at 1294.00 & 1297.00 in extension. Alternative scenario: below 1285.00 look for further downside with 1281.00 & 1279.00 as targets. Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited. Supports and resistances: 1301.00 1297.00 1294.00 1288.22 Last 1285.00 1281.00 1279.00 For more in depth Research & Analysis please visit FxGrow. Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision. Link to comment Share on other sites More sharing options...
FxGrow Support Posted October 11, 2017 Author Report Share Posted October 11, 2017 FxGrow Daily Technical Analysis – 11th October, 2017By FxGrow Research & Analysis Team Gold On The Edge Of Turning Bullish Ahead Of FOMC Statement Gold has surged $34 since Friday, and clocked 1294.30 high yesterday, giving positive signs of trend reversal and turning bullish in case the precious metal managed to close above 1295 in the coming days. On the other hand, renewed tension between USA and NK is attracting safe haven buyers pushing gold higher. Add to that, the DXY continues to show weakness with 92.87 low today giving XAUUSD more chance to seek higher price. Technically, on daily chart, gold has closed above 10-EMA for the third consecutive session and we can notice that daily 5-EMA crossing below with 10-EMA. On H4 time frame, gold rallied from 1260 and closed first 1278, then closed 1288, finally yesterday, gold closed above 1292. This is an additional early sign giving that H4 closing time is going on a higher H4 levels. Today, as FOMC statement will be released, we will see how gold behaves and closes on daily and four hours time frame. In case gold tested 1280+ support and managed reject these prices, then market should expect further rallies extended above at 1295 and 1300+. In case gold showed deeper retracement and closed below 1278, it is an indication that the precious metal has entered the old range between 1200 and 1296 and recent rallies were a correction phase preparing for depper dips aimed at 1260+/-. Technical Overview XAUUSD Closing price: 1287.70 Trend: Sideways / Bearish Resistance levels: 1291, 1295, 1299 Support levels: 1288, 1282, 1279-77 Trend reversal: 1295.20 Comment: The market is showing a correction, trying to retrace for a test of key 1295.20* resistance and challenge for a bottoming turn. Trade may again try to foster rallies, but trade capped by 1295.20* will retain bear forces, likely easing for defensive congestion along 1282.00. A close under 1277.70* alerts for secondary selloffs against Friday's spike. For more in depth Research & Analysis please visit FxGrow. Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision. Link to comment Share on other sites More sharing options...
FxGrow Support Posted October 12, 2017 Author Report Share Posted October 12, 2017 FxGrow Daily Technical Analysis – 12th Oct, 2017By FxGrow Research & Analysis Team FxGrow's Forex Daily Technical Overview GBP/USD Intraday: the upside prevails. Pivot: 1.3210 Our preference: long positions above 1.3210 with targets at 1.3290 & 1.3320 in extension. Alternative scenario: below 1.3210 look for further downside with 1.3175 & 1.3130 as targets. Comment: the RSI shows upside momentum. Supports and resistances: 1.3345 1.3320 1.3290 1.3250 Last 1.3210 1.3175 1.3130 USD/JPY Intraday: under pressure. Pivot: 112.60 Our preference: short positions below 112.60 with targets at 112.10 & 111.95 in extension. Alternative scenario: above 112.60 look for further upside with 112.80 & 113.05 as targets. Comment: the RSI shows downside momentum. Supports and resistances: 113.05 112.80 112.60 112.35 Last 112.10 111.95 111.80 EUR/USD Intraday: the upside prevails. Pivot: 1.1830 Our preference: long positions above 1.1830 with targets at 1.1890 & 1.1925 in extension. Alternative scenario: below 1.1830 look for further downside with 1.1795 & 1.1760 as targets. Comment: the RSI is mixed to bullish. Supports and resistances: 1.1960 1.1925 1.1890 1.1862 Last 1.1830 1.1795 1.1760 AUD/USD Intraday: further upside. Pivot: 0.7790 Our preference: long positions above 0.7790 with targets at 0.7840 & 0.7860 in extension. Alternative scenario: below 0.7790 look for further downside with 0.7770 & 0.7745 as targets. Comment: the RSI shows upside momentum. Supports and resistances: 0.7875 0.7860 0.7840 0.7815 Last 0.7790 0.7770 0.7745 Crude Oil (WTI) (X7) Intraday: the bias remains bullish. Pivot: 50.82 Our preference: long positions above 50.82 with targets at 51.40 & 51.75 in extension. Alternative scenario: below 50.82 look for further downside with 50.45 & 50.05 as targets. Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited. Supports and resistances: 52.10 51.75 51.40 51.00 Last 50.82 50.45 50.05 Gold spot Intraday: further advance. Pivot: 1290.00 Our preference: long positions above 1290.00 with targets at 1301.00 & 1306.00 in extension. Alternative scenario: below 1290.00 look for further downside with 1284.00 & 1281.00 as targets. Comment: the RSI is bullish and calls for further advance. Supports and resistances: 1310.00 1306.00 1301.00 1296.60 Last 1290.00 1284.00 1281.00 For more in depth Research & Analysis please visit FxGrow. Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision. Link to comment Share on other sites More sharing options...
FxGrow Support Posted October 13, 2017 Author Report Share Posted October 13, 2017 FxGrow Daily Technical Analysis – 13th Oct, 2017By FxGrow Research & Analysis Team FxGrow's Forex Daily Technical Overview GBP/USD Intraday: the upside prevails. Pivot: 1.3220 Our preference: long positions above 1.3220 with targets at 1.3290 & 1.3345 in extension. Alternative scenario: below 1.3220 look for further downside with 1.3175 & 1.3125 as targets. Comment: the RSI is bullish and calls for further upside. Supports and resistances: 1.3400 1.3345 1.3290 1.3265 Last 1.3220 1.3175 1.3125 USD/JPY Intraday: capped by a negative trend line. Pivot: 112.45 Our preference: short positions below 112.45 with targets at 111.95 & 111.80 in extension. Alternative scenario: above 112.45 look for further upside with 112.60 & 112.80 as targets. Comment: the RSI is capped by a declining trend line. Supports and resistances: 112.80 112.60 112.45 112.15 Last 111.95 111.80 111.55 EUR/USD Intraday: caution. Pivot: 1.1855 Our preference: short positions below 1.1855 with targets at 1.1820 & 1.1795 in extension. Alternative scenario: above 1.1855 look for further upside with 1.1880 & 1.1900 as targets. Comment: intraday technical indicators are mixed and call for caution. Supports and resistances: 1.1900 1.1880 1.1855 1.1835 Last 1.1820 1.1795 1.1760 AUD/USD Intraday: the bias remains bullish. Pivot: 0.7805 Our preference: long positions above 0.7805 with targets at 0.7855 & 0.7875 in extension. Alternative scenario: below 0.7805 look for further downside with 0.7785 & 0.7770 as targets. Comment: technically the RSI is above its neutrality area at 50. Supports and resistances: 0.7900 0.7875 0.7855 0.7830 Last 0.7805 0.7785 0.7770 Crude Oil (WTI) (X7) Intraday: rebound expected. Pivot: 50.25 Our preference: long positions above 50.25 with targets at 51.10 & 51.40 in extension. Alternative scenario: below 50.25 look for further downside with 49.75 & 49.20 as targets. Comment: the RSI advocates for further advance. A strong support base around 50.25 (the previous swing low) has formed,and should limit any downward attempts. Supports and resistances: 51.75 51.40 51.10 50.94 Last 50.25 49.75 49.20 Gold spot Intraday: the upside prevails. Pivot: 1289.50 Our preference: long positions above 1289.50 with targets at 1301.00 & 1306.00 in extension. Alternative scenario: below 1289.50 look for further downside with 1284.00 & 1281.00 as targets. Comment: the RSI advocates for further advance. Supports and resistances: 1310.00 1306.00 1301.00 1295.70 Last 1289.50 1284.00 1281.00 For more in depth Research & Analysis please visit FxGrow. Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision. Link to comment Share on other sites More sharing options...
FxGrow Support Posted October 16, 2017 Author Report Share Posted October 16, 2017 FxGrow Daily Technical Analysis – 16th Oct, 2017By FxGrow Research & Analysis Team FxGrow's Forex Daily Technical Overview EUR/USD Intraday: under pressure. Pivot: 1.1825 Our preference: short positions below 1.1825 with targets at 1.1775 & 1.1760 in extension. Alternative scenario: above 1.1825 look for further upside with 1.1850 & 1.1875 as targets. Comment: the RSI shows downside momentum. Supports and resistances: 1.1875 1.1850 1.1825 1.1800 Last 1.1775 1.1760 1.1735 USD/JPY Intraday: intraday support around 111.65. Pivot: 111.65 Our preference: long positions above 111.65 with targets at 112.05 & 112.25 in extension. Alternative scenario: below 111.65 look for further downside with 111.40 & 111.20 as targets. Comment: the RSI lacks downward momentum. Supports and resistances: 112.45 112.25 112.05 111.86 Last 111.65 111.40 111.20 GBP/USD Intraday: further advance. Pivot: 1.3260 Our preference: long positions above 1.3260 with targets at 1.3325 & 1.3350 in extension. Alternative scenario: below 1.3260 look for further downside with 1.3230 & 1.3180 as targets. Comment: the RSI shows upside momentum. Supports and resistances: 1.3375 1.3350 1.3325 1.3295 Last 1.3260 1.3230 1.3180 AUD/USD Intraday: the bias remains bullish. Pivot: 0.7850 Our preference: long positions above 0.7850 with targets at 0.7900 & 0.7920 in extension. Alternative scenario: below 0.7850 look for further downside with 0.7825 & 0.7805 as targets. Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited. Supports and resistances: 0.7950 0.7920 0.7900 0.7875 Last 0.7850 0.7825 0.7805 Crude Oil (WTI) (X7) Intraday: further advance. Pivot: 51.35 Our preference: long positions above 51.35 with targets at 52.40 & 52.85 in extension. Alternative scenario: below 51.35 look for further downside with 50.95 & 50.55 as targets. Comment: the RSI lacks downward momentum. Supports and resistances: 53.20 52.85 52.40 51.93 Last 51.35 50.95 50.55 Gold spot Intraday: further advance. Pivot: 1295.00 Our preference: long positions above 1295.00 with targets at 1310.00 & 1315.00 in extension. Alternative scenario: below 1295.00 look for further downside with 1290.00 & 1284.00 as targets. Comment: the RSI is bullish and calls for further advance. Supports and resistances: 1322.00 1315.00 1310.00 1303.28 Last 1295.00 1290.00 1284.00 For more in depth Research & Analysis please visit FxGrow. Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision. Link to comment Share on other sites More sharing options...
FxGrow Support Posted October 17, 2017 Author Report Share Posted October 17, 2017 FxGrow Daily Technical Analysis – 17th Oct, 2017By FxGrow Research & Analysis Team GBP/USD Trading Flat Ahead of UK Inflation Data GBP/USD peeked yesterday to 1.3311 but failed to guard 1.3300 level and dipped to 1.2325 low and closed above 10-EMA at 1.2350 reviving the daily trend to turn bullish, depending on how the pair closes on daily time frame. Today, the cable is trading flat with 38-pips price action after clocking 1.3268 high, ahead of UK CPI inflation report, followed by BOE's Gov. Carney with expectation for a tone to set the Pound in a certain direction depending on the data outcome. Expectations are placed at 3.00% compared to 2.9% on previous sessions. In case CPI managed to score a 3% and above, the pair will set a new course with a bull destination as the data could motivate Carney for a hawkish tone. Technical Overview GBP/USD Current price: 1.3256 Closing price: 1.3250 Target: None Resistance levels: 1.3285 , 1.3333 , 1.3350 Support levels: 1.3240 , 1.3212 , 1.3154 Trend: Sideways Comment: Overall the market is short term bearish with near term rebounds capped trying to push beyond 1.3285 resistance. A close over 1.3285* or pop over 1.3333-50 signals short term bottoming upturn and could launch a climb to the 1.3410+ area. The roll off from 1.3285 hints for bear forces to pressure selloff back with last Thursday's range. A close under 1.3200 alerts for secondary selloff. For more in depth Research & Analysis please visit FxGrow. Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision. Link to comment Share on other sites More sharing options...
FxGrow Support Posted October 17, 2017 Author Report Share Posted October 17, 2017 FxGrow Daily Technical Analysis – 17th Oct, 2017By FxGrow Research & Analysis Team FxGrow's Forex Daily Technical Overview GBP/USD Intraday: under pressure. Pivot: 1.3290 Our preference: 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. Supports and resistances: 1.3350 1.3325 1.3290 1.3259 Last 1.3220 1.3180 1.3150 USD/JPY Intraday: the upside prevails. Pivot: 111.85 Our preference: 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. Supports and resistances: 112.80 112.55 112.30 112.10 Last 111.85 111.65 111.40 EUR/USD Intraday: the downside prevails. Pivot: 1.1800 Our preference: short positions below 1.1800 with targets at 1.1740 & 1.1715 in extension. Alternative scenario: above 1.1800 look for further upside with 1.1815 & 1.1835 as targets. Comment: the RSI is bearish and calls for further downside. Supports and resistances: 1.1835 1.1815 1.1800 1.1765 Last 1.1740 1.1715 1.1695 AUD/USD Intraday: consolidation. Pivot: 0.7875 Our preference: 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. Supports and resistances: 0.7925 0.7900 0.7875 0.7850 Last 0.7825 0.7805 0.7770 Crude Oil (WTI) (X7) Intraday: the bias remains bullish. Pivot: 51.50 Our preference: long positions above 51.50 with targets at 52.40 & 52.85 in extension. Alternative scenario: below 51.50 look for further downside with 50.95 & 50.55 as targets. Comment: the RSI is mixed with a bullish bias. Supports and resistances: 53.20 52.85 52.40 51.90 Last 51.50 50.95 50.55 Gold spot Intraday: under pressure. Pivot: 1296.00 Our preference: short positions below 1296.00 with targets at 1284.00 & 1282.00 in extension. Alternative scenario: above 1296.00 look for further upside with 1300.00 & 1306.00 as targets. Comment: the RSI is bearish and calls for further downside. Supports and resistances: 1306.00 1300.00 1296.00 1290.40 Last 1284.00 1282.00 1279.50 For more in depth Research & Analysis please visit FxGrow. Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision. Link to comment Share on other sites More sharing options...
FxGrow Support Posted October 18, 2017 Author Report Share Posted October 18, 2017 FxGrow Daily Technical Analysis – 18th Oct, 2017By FxGrow Research & Analysis Team EUR/USD Extends The Bear Forces, Looking For Clues By Draghi EUR/USD prolonged the selloff sessions this week and yesterday, the pair dipped to 1.1736 low after clocking 1.1800 high, still testing daily 10-EMA zone with 5-EMA dropping below, indicating for additional bear forces to take control these coming days after making a correction last week. Today, EUR/USD the pair traded 22-pips price action and managed to record 1.1754 high then retreated 1.1758 low, currently trading 1.1764 intraday. Fundamentally, the rift between the Catalans and Spain, although has been eased a bit, but the Brexit negotiations with EU and its absence of progress still weighs negatively on both the EUR and the Pound as European Union's chief Brexit negotiator Michel Barnier crossed the wires yesterday, with key quotes: Progress in Brexit talks ‘not there at this point New dynamic since UK pm may’s speech in Florence Important that past issues have been sorted out first No intentions of holding up Brexit process EU stands ready to ‘speed up’ Brexit talks Today, all eyes are focused on Draghi due to deliver a speech shortly afterwards without any clues how the ECB Gov. will set the tone. Any hints about QE winding or setting a date for shrinking the EU bond purchasing budget should set the EUR bulls in action. EUR/USD Technical Overview: Target price: None Closing Price: 1.1765 Resistance levels: 1.1784 , 1.1819 , 1.1866 Support levels: 1.1744 , 1.1710-20, 1.1670 Trend : Down / Sideways Trend reversal price: 1.1900 General Technical Overview: Overall the market is bearish and a close under 1.1741* suggests a selloff under last swing low. The larger formation cautions declines to 1.1600. Any near term rallies will likely be capped under 1.1840 - 1.1860 and likely stick to sideways congestion. A close over 1.1900* is needed to start a reversing turn back to higher levels. For more in depth Research & Analysis please visit FxGrow. Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision. Link to comment Share on other sites More sharing options...
FxGrow Support Posted October 18, 2017 Author Report Share Posted October 18, 2017 FxGrow Daily Technical Analysis – 18th Oct, 2017By FxGrow Research & Analysis Team Forex Daily Technical Overview 18 Oct 2017 GBP/USD Intraday: under pressure. Pivot: 1.3200 Our preference: short positions below 1.3200 with targets at 1.3120 & 1.3090 in extension. Alternative scenario: above 1.3200 look for further upside with 1.3235 & 1.3265 as targets. Comment: the RSI shows downside momentum. Supports and resistances: 1.3265 1.3235 1.3200 1.3155 Last 1.3120 1.3090 1.3070 USD/JPY Intraday: further advance. Pivot: 112.25 Our preference: long positions above 112.25 with targets at 112.80 & 112.95 in extension. Alternative scenario: below 112.25 look for further downside with 112.00 & 111.65 as targets. Comment: the RSI shows upside momentum. Supports and resistances: 113.20 112.95 112.80 112.50 Last 112.25 112.00 111.65 EUR/USD Intraday: key resistance at 1.1780. Pivot: 1.1780 Our preference: short positions below 1.1780 with targets at 1.1715 & 1.1690 in extension. Alternative scenario: above 1.1780 look for further upside with 1.1815 & 1.1850 as targets. Comment: the RSI shows downside momentum. Supports and resistances: 1.1850 1.1815 1.1780 1.1750 Last 1.1715 1.1690 1.1670 AUD/USD Intraday: the downside prevails. Pivot: 0.7860 Our preference: short positions below 0.7860 with targets at 0.7815 & 0.7800 in extension. Alternative scenario: above 0.7860 look for further upside with 0.7875 & 0.7895 as targets. Comment: the RSI shows downside momentum. Supports and resistances: 0.7895 0.7875 0.7860 0.7836 Last 0.7815 0.7800 0.7770 Gold spot Intraday: the downside prevails. Pivot: 1284.00 Our preference: short positions below 1284.00 with targets at 1275.00 & 1272.00 in extension. Alternative scenario: above 1284.00 look for further upside with 1289.00 & 1293.00 as targets. Comment: the break below the support at 1284.00 triggered a downward acceleration to 1272.00. Supports and resistances: 1293.00 1289.00 1284.00 1280.55 Last 1275.00 1272.00 1269.50 Crude Oil (WTI) (X7) Intraday: further upside. Pivot: 51.65 Our preference: long positions above 51.65 with targets at 52.40 & 52.65 in extension. Alternative scenario: below 51.65 look for further downside with 51.45 & 51.20 as targets. Comment: the RSI is mixed with a bullish bias. Supports and resistances: 52.85 52.65 52.40 52.14 Last 51.65 51.45 51.20 For more in depth Research & Analysis please visit FxGrow. Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision. Link to comment Share on other sites More sharing options...
FxGrow Support Posted October 19, 2017 Author Report Share Posted October 19, 2017 FxGrow Daily Technical Analysis – 19th Oct, 2017By FxGrow Research & Analysis Team Forex Daily Technical Overview 19 Oct 2017 GBP/USD Intraday: turning down. Pivot: 1.3200 Our preference: short positions below 1.3200 with targets at 1.3120 & 1.3070 in extension. Alternative scenario: above 1.3200 look for further upside with 1.3225 & 1.3260 as targets. Comment: the RSI shows downside momentum. Supports and resistances: 1.3260 1.3225 1.3200 1.3155 Last 1.3120 1.3070 1.3025 USD/JPY Intraday: turning down. Pivot: 113.15 Our preference: short positions below 113.15 with targets at 112.45 & 112.10 in extension. Alternative scenario: above 113.15 look for further upside with 113.45 & 113.75 as targets. Comment: the RSI shows downside momentum. Supports and resistances: 113.75 113.45 113.15 112.75 Last 112.45 112.10 111.85 EUR/USD Intraday: the bias remains bullish. Pivot: 1.1775 Our preference: long positions above 1.1775 with targets at 1.1835 & 1.1860 in extension. Alternative scenario: below 1.1775 look for further downside with 1.1755 & 1.1735 as targets. Comment: the RSI shows upside momentum. Supports and resistances: 1.1880 1.1860 1.1835 1.1801 Last 1.1775 1.1755 1.1735 AUD/USD Intraday: the upside prevails. Pivot: 0.7830 Our preference: long positions above 0.7830 with targets at 0.7875 & 0.7895 in extension. Alternative scenario: below 0.7830 look for further downside with 0.7815 & 0.7800 as targets. Comment: the RSI shows upside momentum. Supports and resistances: 0.7915 0.7895 0.7875 0.7855 Last 0.7830 0.7815 0.7800 Crude Oil (WTI) (X7) Intraday: the downside prevails. Pivot: 51.70 Our preference: short positions below 51.70 with targets at 50.95 & 50.55 in extension. Alternative scenario: above 51.70 look for further upside with 52.05 & 52.35 as targets. Comment: the RSI has broken down its 30 level. Supports and resistances: 52.35 52.05 51.70 51.33 Last 50.95 50.55 50.15 Gold spot Intraday: rebound expected. Pivot: 1276.50 Our preference: long positions above 1276.50 with targets at 1289.00 & 1293.00 in extension. Alternative scenario: below 1276.50 look for further downside with 1273.00 & 1270.00 as targets. Comment: the RSI advocates for further upside. Supports and resistances: 1296.50 1293.00 1289.00 1285.40 Last 1276.50 1273.00 1270.00 For more in depth Research & Analysis please visit FxGrow. Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision. Link to comment Share on other sites More sharing options...
FxGrow Support Posted October 19, 2017 Author Report Share Posted October 19, 2017 FxGrow Daily Technical Analysis – 19th Oct, 2017By FxGrow Research & Analysis Team Gold Recovers Seeing Weakness In U.S Dollar, Eyes on U.S Data Gold rallied to 1306.10 high on Monday but failed to press forward and started deep retracements as price correction and ended today with at 1276.70 low, currently XAUUSD is trading 1286 after clocking 1288 high. On technical level, since gold closed above 1296, the trend shifted up and the failure to close below 1280 (Daily) kept the bull forces in action. At the moment we are standing two scenarios that awaits gold. First scenario is that gold will extend price correction towards 1290+ levels and could end the rally at 1295 forming head and shoulders pattern, then the daily candle will turn bearish and market should prepare for deeper retracement exceeding today's low aimed at 1258+ zone. The second scenario is that gold will reach the 1290+ area and closes above 1296 which set the precious metal on the track to 1305+ area washing the head and shoulders pattern. In case gold managed to close above 1305-08, then market should expect a search for higher levels aimed at 1315+/-. Both scenarios will be affected by the DXY ( U.S Index ) performance as U.S releases Unemployment claims today at 12:30 PM GMT. Technical overview XAUSUD: Current Price: 1286 Closing Price: 1281 Target: 1308 ? ? Resistance levels: 1286 (10-EMA) , 1290 (20-EMA lined with 50 EMA) , 1295-96 Support levels: 1280.90, 1276, 1270 Trend reversal: 1279 General Overview: The market is showing a near term secondary selloff, calling for a test of the 1279.20* support. Look for follow through selling today. A close under 128020* targets declines back through the 1270's. Any corrections capped by 1291.80* will favors further declines. A close over 1296.80* is needed to flip back to bull trending. For more in depth Research & Analysis please visit FxGrow. Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision. Link to comment Share on other sites More sharing options...
FxGrow Support Posted October 23, 2017 Author Report Share Posted October 23, 2017 FxGrow Daily Technical Analysis – 23rd Oct, 2017By FxGrow Research & Analysis Team Forex Daily Technical Overview 23 Oct 2017 GBP/USD Intraday: the bias remains bullish. Pivot: 1.3145 Our preference: long positions above 1.3145 with targets at 1.3225 & 1.3260 in extension. Alternative scenario: below 1.3145 look for further downside with 1.3100 & 1.3060 as targets. Comment: the RSI is mixed to bullish. Supports and resistances: 1.3290 1.3260 1.3225 1.3190 Last 1.3145 1.3100 1.3060 USD/JPY Intraday: the bias remains bullish. Pivot: 113.45 Our preference: long positions above 113.45 with targets at 114.30 & 114.80 in extension. Alternative scenario: below 113.45 look for further downside with 113.05 & 112.70 as targets. Comment: the RSI shows upside momentum. Supports and resistances: 115.35 114.80 114.30 113.85 Last 113.45 113.05 112.70 EUR/USD Intraday: the downside prevails. Pivot: 1.1790 Our preference: short positions below 1.1790 with targets at 1.1740 & 1.1720 in extension. Alternative scenario: above 1.1790 look for further upside with 1.1820 & 1.1840 as targets. Comment: the RSI shows downside momentum. Supports and resistances: 1.1840 1.1820 1.1790 1.1760 Last 1.1740 1.1720 1.1700 AUD/USD Intraday: under pressure. Pivot: 0.7835 Our preference: short @ 0.7820 with targets @ 0.7800 & 0.7780 in extension. Alternative scenario: above 0.7835 look for further upside with 0.7855 & 0.7870 as targets. Comment: even though a continuation of the technical rebound cannot be ruled out, its extent should be limited. Supports and resistances: 0.7870 0.7855 0.7835 0.7820 Last 0.7800 0.7780 0.7765 Crude Oil (WTI) (Z7) Intraday: further advance. Pivot: 51.60 Our preference: long positions above 51.60 with targets at 52.40 & 52.60 in extension. Alternative scenario: below 51.60 look for further downside with 51.30 & 50.85 as targets. Comment: the RSI is bullish and calls for further upside. Supports and resistances: 52.80 52.60 52.40 52.16 Last 51.60 51.30 50.85 Gold spot Intraday: capped by a negative trend line. Pivot: 1282.00 Our preference: short positions below 1282.00 with targets at 1270.00 & 1265.00 in extension. Alternative scenario: above 1282.00 look for further upside with 1286.00 & 1291.00 as targets. Comment: the RSI is capped by a bearish trend line. Supports and resistances: 1291.00 1286.00 1282.00 1274.94 Last 1270.00 1265.00 1261.00 For more in depth Research & Analysis please visit FxGrow. Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision. Link to comment Share on other sites More sharing options...
FxGrow Support Posted October 24, 2017 Author Report Share Posted October 24, 2017 FxGrow Daily Technical Analysis – 24th Oct, 2017By FxGrow Research & Analysis Team Forex Daily Technical Overview 24 Oct 2017 GBP/USD Intraday: under pressure. Pivot: 1.3230 Our preference: short positions below 1.3230 with targets at 1.3155 & 1.3125 in extension. Alternative scenario: above 1.3230 look for further upside with 1.3260 & 1.3290 as targets. Comment: the RSI broke below a rising trend line. Supports and resistances: 1.3290 1.3260 1.3230 1.3190 Last 1.3155 1.3125 1.3085 USD/JPY Intraday: caution. Pivot: 113.75 Our preference: short positions below 113.75 with targets at 113.10 & 112.70 in extension. Alternative scenario: above 113.75 look for further upside with 114.10 & 114.30 as targets. Comment: the RSI is mixed and calls for caution. Supports and resistances: 114.30 114.10 113.75 113.40 Last 113.10 112.70 112.35 AUD/USD Intraday: under pressure. Pivot: 0.7825 Our preference: short positions below 0.7825 with targets at 0.7765 & 0.7745 in extension. Alternative scenario: above 0.7825 look for further upside with 0.7855 & 0.7885 as targets. Comment: the RSI shows downside momentum. Supports and resistances: 0.7885 0.7855 0.7825 0.7795 Last 0.7765 0.7745 0.7730 Crude Oil (WTI) (Z7) Intraday: the downside prevails. Pivot: 52.10 Our preference: short positions below 52.10 with targets at 51.65 & 51.30 in extension. Alternative scenario: above 52.10 look for further upside with 52.30 & 52.60 as targets. Comment: the RSI is bearish and calls for further decline. Supports and resistances: 52.60 52.30 52.10 51.85 Last 51.65 51.30 50.85 Gold spot Intraday: bullish bias above 1276.50. Pivot: 1276.50 Our preference: long positions above 1276.50 with targets at 1284.00 & 1291.00 in extension. Alternative scenario: below 1276.50 look for further downside with 1272.00 & 1267.00 as targets. Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited. Supports and resistances: 1296.00 1291.00 1284.00 1279.97 Last 1276.50 1272.00 1267.00 For more in depth Research & Analysis please visit FxGrow. Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision. Link to comment Share on other sites More sharing options...
FxGrow Support Posted October 25, 2017 Author Report Share Posted October 25, 2017 FxGrow Daily Technical Analysis – 25th Oct, 2017By FxGrow Research & Analysis Team Brexit Still Pressures GBP/USD, Eyes On UK GDP GBP/USD extends the downtrend momentum for eighth consecutive session after peeking to 1.3227 high yesterday, the pair failed to press forward and hold gains, taking a dip to 1.3113 low and closed at 1.3131. Currently the pair is trading narrow with 20-pips price action after hitting 1.3116 low support, but expectations for higher volatility as UK releases its quarter GDP shortly. Technically, on the chart we can notice that GBP/USD is capped inside wedge triangle and has been touching the boundaries but failing to close neither above the descending trend line, nor below ascending one, putting the pair in a state of congestion in case daily price managed to close above or below both lines. Fundamentally, GBP/USD is traded cautiously. First Brexit negotiations still weighs negatively on the pair favoring selloff mood and last week Carney was noticed less hawkish than precious press conferences held, but rate hike in November is still on the table and open to discussion which keeps the cable on solid ground preventing it from severe losses. Today, expectations are placed for GDP at 3% as recorded previously. Market stands on two potential scenarios. First, in case GDP scored 3% or above, this should be taken as a booster and second, if GDP missed 3% target, then adding all the negative elements above, market should expect a heavier abandon for GBP/USD and extending the bearish momentum. Technical Overview GBP/USD: Closing price: 1.3116 Target price: None Resistance levels: 1.3154 , 1.3200, 1.3248 Support levels: 1.3114 , 1.3080 , 1.3030 Trend: Sideways / Down Trend reversal price: 1.3226* General overlook: The market is still caught is a secondary decline. Near term trade is working through corrective congestion, but retains the bear bias. A close under 1.3080 should open ip a fresh bear leg. Near term trade may yet try to congest around 1.3154 +/- . A close over 1.3226* and 1.3260* are the triggers for a re-turn into higher prices. For more in depth Research & Analysis please visit FxGrow. Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision. Link to comment Share on other sites More sharing options...
FxGrow Support Posted October 26, 2017 Author Report Share Posted October 26, 2017 FxGrow Daily Technical Analysis – 26th Oct, 2017By FxGrow Research & Analysis Team EUR/USD Pushes Higher, Seeing Draghi Hawkish EUR/USD has been actively bullish since yesterday rallying from 1.1753 low recording 1.1817 high. Today, the pair extended yesterday's action and pushed higher at 1.1836 with expectations for more pips as 5-EMA crossed with 10-EMA from below. Today market is expecting a hawkish statement as Super Mario Draghi crosses wires at 12:30 PM GMT. On the other hand, rates are highly expected to be left unchanged at 0% point basis, which turns all the attention to the ECB's Gov. Draghi has mentioned previously in Sep that tapering with QE program and details will laid out in Oct as the ECB holds a press conference. At the moment, ECB is currently running QE purchasing at 60B value. Now the question comes is how much or at which pace will Draghi slow down the amount and setting specific dates. Note expectations are between 25B and 40B reduction. Logically, any tapering with QE as reduction should be taken positive and EUR/USD should rally as the event itself is highly anticipated since a long time of period. But still, market may not digest the details and below are possible scenarios that should take action. First scenario which most likely, ECB will reduce monthly bond purchasing at 30B value and commit to buying bonds till Sep 2018 with a guidance. (Positive for EUR/USD). Second scenario which is likely. ECB will cut bond purchasing by 30B and commit the QE program till Jun 2018. ( Less positive ). Third scenario which is possible that ECB could cut monthly bond buys by 20B and commit to buying bonds to June 2018. ( Negative for EUR/USD) Last and fourth scenario which is unlikely, ECB will cut monthly bond buys by 40B and commit to buying bonds to Sept 2018. ( Strongly positive for EUR/USD). Technical Overview EUR/USD Current price: 1.1822 Closing price: 1.1812 Target price: None Resistance levels: 1.1830, 1.1860 , 1.1907* Support levels: 1.1760 , 1.1730? , 1.1680-70 Trend: Down Trend reversal price: 1.1909 General comment: Comment Overall the market is bearish and penetration under Monday's low suggests a selloff under the last 1.1780 swing low. Near term trade is showing corrections and may again work sideways higher today. A surge over 1.18945 voids the bear alignment. However, a close over 1.1907* is the key to start a reversing turn and sustained climb to higher levels. For more in depth Research & Analysis please visit FxGrow. Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision. Link to comment Share on other sites More sharing options...
FxGrow Support Posted October 27, 2017 Author Report Share Posted October 27, 2017 FxGrow Daily Technical Analysis – 27th Oct, 2017By FxGrow Research & Analysis Team EUR/USD Clocks Three Months Low Over Dovish ECB, Eyes on U.S GDP EUR/USD was knocked out yesterday as the market undigested ECB's reduced QE size by half and simultaneously extended the duration, thus maintaining the same level of stimulus as before. As a result, the pair was on a massive selloff wave dipping from 1.1836 high to 1.1640 low, 196 pips during only eight hours. Today, EUR/USD extended losses at 1.1624 the months fresh lows with expectations for further dips in the coming days seeing the buck strengthening with 94.74 high today. Fundamentally, the U.S Index is back with a sharper tone sending strong message for all currency rivals as the House of Representatives has passed a budget bill paving the way for Trump's so long waited tax cut plan. The only bump at moment fronting is who will inherit the U.S Fed, still nominees are mixed between Powell and Taylor. Recent Reports has mentioned that current Yellen is ruled out, but rumors looms that Trump is worried about such scenario which could disrupt the hardy stock market rally that has taken place since his election. The Dow industrials have surged more than 30 percent from the low just a couple days before the Nov. 8 election. Last but not least, Spanish tension with Catalans referendum still vows which add more pressure on the EURO. Finally, this week risk event will be conducted with U.S GDP release today at 12:30 PM GMT with all eyes focused with expectations for a growth during third quarter. The data today will play significantly on the promised late U.S rate hike and DXY levels. EUR/USD Technical Overview: Current price: 1.1624 Target: 1.1480? Closing Price: 1.1652 Trend: Down Resistance levels: 1.1680, 1.1705 +/- , 1.1763* Support levels: 1.1540, 1.1480 Trend Reversal: 1.1763* Down 117.93 Comment: The market triggered a significant downside breakout from sideways congestion of the past month, opening up potential for a bear wave to 1.1480. Trade is poised for continuation selloffs. Any corrections should be rejected up along the lower edges of recent congestion. Only a close over 1.1763* marks a short term turnaround. For more in depth Research & Analysis please visit FxGrow. Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision. Link to comment Share on other sites More sharing options...
FxGrow Support Posted October 27, 2017 Author Report Share Posted October 27, 2017 FxGrow Daily Technical Analysis – 27th Oct, 2017By FxGrow Research & Analysis Team Gold Has triggered A Price Action With Deeper Retractment, US GDP ?? After seven consolidation sessions where gold was fluctuating between 80+ and 70s area, finally gold has give a clear sign for a deeper dips and washes 6th Oct daily bullish grabber candle at 1260 low. Yesterday, gold extended the correction phase clocking 1282.60 high then started deprecation gradually, but after ECB's dovish scenario and as the EURO was aggressively plunging, the Dollar Index (DXY) was strengthening hitting three months high at 94.60, gold submitted closed one hour below 70, then extended losses at 1265.80 low. Today, gold traded narrow inside yesterday's candle with 1264.80 low, then started another correction phase till 1269, currently trading 1268 Intraday. Technically, yesterday's bearish candle is to be considered engulfing for 6th Oct bullish grabber and erased all the scenarios for potential upward trend reversal, and at this moment, market should expect some upward corrections between 72 and 78, but the 1250-45 zone still persists. Add to that, the 10-year yield bonds were also rising with 2.47 high today which adds more pressure on gold along with strong greenback. Fundamentally, market is awaiting U.S GDP which will be released today at 12:30 PM GMT, and market stands at two possible scenarios. In both cases, whether data is negative or positive and taking into consideration that DXY levels at H1 and H4 are oversold at RSI, gold and in react to the data, could rally shortly around 72 and 76 levels, but eventually the 1250+/- will be achieved (Technically). The other scenario is that gold could start falling reaching 1260-58 support area and start upward correction retracement also at 70s area, and again, the 1250+/- should be achieved (technically). Last but least, and to add an unpleasant scenario that could reverse the technical overview is any real political tension between NK and USA with serious actions, in this case we gold will shift as safe haven substitute and will start rising gradually depending on the level or pace of the events. XAUUSD Technical Summary Current price: 1268 Closing price: 1267.60 Trend: Down Target price: none at this moment Trend Reversal price: 1291.40 Resistance levels: 1270-72, 1282 Support levels: 1262.50 , 1260, 1250+/- Comment: Comment The market is bearish and suggesting a bear extension to test around the last swing low in the 1264-1261 levels. A close under 1260 opens up potential near 1250. Any corrections trapped within yesterday's outside bear range should retain bear forces and bear flag. A pop over 1282.30 is needed to stop pressing bear forces, however, only a close above 1291.40 will shit bear to bull trend. For more in depth Research & Analysis please visit FxGrow. Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision. Link to comment Share on other sites More sharing options...
FxGrow Support Posted October 31, 2017 Author Report Share Posted October 31, 2017 FxGrow Daily Technical Analysis – 31st Oct, 2017By FxGrow Research & Analysis Team Forex Daily Technical Overview 31 Oct 2017 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 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 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 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 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 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 For more in depth Research & Analysis please visit FxGrow. Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision. Link to comment Share on other sites More sharing options...
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