Pre US Open, Daily Technical Analysis Thursday, November 23, 2017

Pre US Open, Daily Technical Analysis Thursday, November 23, 2017

23 November 2017, 12:36
Dragan Drenjanin
0
25
EUR/USD Intraday: the bias remains bullish.

  • Pivot: 1.1805
  • Most Likely Scenario: long positions above 1.1805 with targets at 1.1850 & 1.1880 in extension.
  • Alternative scenario: below 1.1805 look for further downside with 1.1785 & 1.1755 as targets.
  • Comment: the RSI shows upside momentum.

GBP/USD Intraday: rebound.

  • Pivot: 1.3280
  • Most Likely Scenario: long positions above 1.3280 with targets at 1.3335 & 1.3375 in extension.
  • Alternative scenario: below 1.3280 look for further downside with 1.3255 & 1.3220 as targets.
  • Comment: the RSI lacks downward momentum.

USD/JPY Intraday: the downside prevails.

  • Pivot: 111.65
  • Most Likely Scenario: short positions below 111.65 with targets at 111.00 & 110.65 in extension.
  • Alternative scenario: above 111.65 look for further upside with 111.95 & 112.40 as targets.
  • Comment: the RSI is mixed to bearish.

AUD/USD Intraday: the bias remains bullish.

  • Pivot: 0.7590
  • Most Likely Scenario: long positions above 0.7590 with targets at 0.7650 & 0.7675 in extension.
  • Alternative scenario: below 0.7590 look for further downside with 0.7560 & 0.7530 as targets.
  • Comment: the RSI shows upside momentum.

Gold spot Intraday: bullish bias above 1284.00.

  • Pivot: 1284.00
  • Most Likely Scenario: long positions above 1284.00 with targets at 1297.00 & 1300.00 in extension.
  • Alternative scenario: below 1284.00 look for further downside with 1279.00 & 1276.00 as targets.
  • Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

Crude Oil (WTI) (F8) Intraday: supported by a rising trend line.

  • Pivot: 57.50
  • Most Likely Scenario: long positions above 57.50 with targets at 58.20 & 58.60 in extension.
  • Alternative scenario: below 57.50 look for further downside with 57.15 & 56.85 as targets.
  • Comment: the RSI lacks downward momentum.
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