Pre US Open, Daily Technical Analysis Wednesday, November 22, 2017

Pre US Open, Daily Technical Analysis Wednesday, November 22, 2017

22 November 2017, 13:53
Dragan Drenjanin
0
18
EUR/USD Intraday: the upside prevails.
  • Pivot: 1.1730
  • Most Likely Scenario: long positions above 1.1730 with targets at 1.1775 & 1.1810 in extension.
  • Alternative scenario: below 1.1730 look for further downside with 1.1710 & 1.1685 as targets.
  • Comment: the RSI shows upside momentum.

GBP/USD Intraday: supported by a rising trend line.
  • Pivot: 1.3220
  • Most Likely Scenario: long positions above 1.3220 with targets at 1.3280 & 1.3300 in extension.
  • Alternative scenario: below 1.3220 look for further downside with 1.3200 & 1.3180 as targets.
  • Comment: the RSI is mixed to bullish.

USD/JPY Intraday: consolidation.
  • Pivot: 112.50
  • Most Likely Scenario: short positions below 112.50 with targets at 111.95 & 111.70 in extension.
  • Alternative scenario: above 112.50 look for further upside with 112.70 & 113.00 as targets.
  • Comment: the RSI shows downside momentum.

AUD/USD Intraday: turning down.
  • Pivot: 0.7590
  • Most Likely Scenario: short positions below 0.7590 with targets at 0.7530 & 0.7510 in extension.
  • Alternative scenario: above 0.7590 look for further upside with 0.7610 & 0.7635 as targets.
  • Comment: the RSI shows downside momentum.

Gold spot Intraday: continuation of the rebound.
  • Pivot: 1276.00
  • Most Likely Scenario: long positions above 1276.00 with targets at 1290.00 & 1293.50 in extension.
  • Alternative scenario: below 1276.00 look for further downside with 1271.50 & 1266.00 as targets.
  • Comment: the RSI is supported by a bullish trend line.

Crude Oil (WTI) (F8) Intraday: further advance.
  • Pivot: 57.20
  • Most Likely Scenario: long positions above 57.20 with targets at 58.15 & 58.60 in extension.
  • Alternative scenario: below 57.20 look for further downside with 56.85 & 56.55 as targets.
  • Comment: the RSI advocates for further upside.

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