FX Majors: Technical Overview For Wednesday Feb 7, 2018
FxGrow | Feb 07, 2018 03:37AM ET
EUR/USD Intraday: capped by a negative trend line.
Pivot: 1.2410
Our preference: short positions below 1.2410 with targets at 1.2350 & 1.2315 in extension.
Alternative scenario: above 1.2410 look for further upside with 1.2435 & 1.2475 as targets.
Comment: as long as the resistance at 1.2410 is not surpassed, the risk of the break below 1.2350 remains high.
Supports and resistances:
1.2475 1.2435 1.2410
1.2375 Last seen
1.2350 1.2315 1.2280
GBP/USD Intraday: the bias remains bullish.
Pivot: 1.3930
Our preference: long positions above 1.3930 with targets at 1.4000 & 1.4035 in extension.
Alternative scenario: below 1.3930 look for further downside with 1.3900 & 1.3840 as targets.
Comment: the RSI shows upside momentum.
Supports and resistances:
1.4080 1.4035 1.4000
1.3960 Last seen
1.3930 1.3900 1.3840
USD/JPY Intraday: intraday support around 109.05.
Pivot: 109.05
Our preference: long positions above 109.05 with targets at 109.70 & 109.90 in extension.
Alternative scenario: below 109.05 look for further downside with 108.80 & 108.40 as targets.
Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
Supports and resistances:
110.25 109.90 109.70
109.40 Last seen
109.05 108.80 108.40
USD/CAD Intraday: the bias remains bullish.
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Pivot: 1.2470
Our preference: long positions above 1.2470 with targets at 1.2565 & 1.2615 in extension.
Alternative scenario: below 1.2470 look for further downside with 1.2405 & 1.2360 as targets.
Comment: the RSI shows upside momentum.
Supports and resistances:
1.2665 1.2615 1.2565
1.2517 Last seen
1.2470 1.2405 1.2360
NZD/USD Intraday: the upside prevails.
Pivot: 0.7290
Our preference: long positions above 0.7290 with targets at 0.7345 & 0.7380 in extension.
Alternative scenario: below 0.7290 look for further downside with 0.7255 & 0.7225 as targets.
Comment: the RSI lacks downward momentum.
Supports and resistances:
0.7405 0.7380 0.7345
0.7320 Last seen
0.7290 0.7255 0.7225
AUD/USD Intraday: turning down.
Pivot: 0.7920
Our preference: short positions below 0.7920 with targets at 0.7835 & 0.7800 in extension.
Alternative scenario: above 0.7920 look for further upside with 0.7950 & 0.7995 as targets.
Comment: the RSI shows downside momentum.
Supports and resistances:
0.7995 0.7950 0.7920
0.7872 Last seen
0.7835 0.7800 0.7780
Gold spot Intraday: key resistance at 1333.50.
Pivot: 1333.50
Our preference: short positions below 1333.50 with targets at 1324.00 & 1320.00 in extension.
Alternative scenario: above 1333.50 look for further upside with 1339.00 & 1346.00 as targets.
Comment: the RSI is mixed and calls for caution.
Supports and resistances:
1346.00 1339.00 1333.50
1330.80 Last seen
1324.00 1320.00 1316.00
Crude Oil (WTI) (H18) Intraday: under pressure.
Pivot: 64.30
Our preference: short positions below 64.30 with targets at 63.10 & 62.50 in extension.
Alternative scenario: above 64.30 look for further upside with 64.95 & 65.50 as targets.
Comment: the RSI is mixed with a bearish bias.
Supports and resistances:
65.50 64.95 64.30
63.86 Last seen
63.10 62.50 61.80
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