Daily Technical Analysis – 7 November, 2018 - Daily Technical Analysis – 7 November, 2018 -

Daily Technical Analysis – 7 November, 2018

Technical Analysis
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Daily Technical Analysis

7 November,, 2018

EUR/USD Intraday: further advance.
Pivot: 1.1440

Our preference: long positions above 1.1440 with targets at 1.1520 & 1.1550 in extension.

Alternative scenario: below 1.1440 look for further downside with 1.1425 & 1.1390 as targets.

Comment: the RSI is bullish and calls for further advance.

Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point |  Black represents the price when the report was produced

USD/CHF Intraday: the downside prevails.
Pivot: 1.0000

Our preference: short positions below 1.0000 with targets at 0.9945 & 0.9915 in extension.

Alternative scenario: above 1.0000 look for further upside with 1.0015 & 1.0045 as targets.

Comment: the RSI shows downside momentum.

Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point |  Black represents the price when the report was produced

USD/JPY Intraday: consolidation.
Pivot: 113.35

Our preference: short positions below 113.35 with targets at 112.90 & 112.75 in extension.

Alternative scenario: above 113.35 look for further upside with 113.50 & 113.75 as targets.

Comment: the RSI is mixed to bearish.

Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point |  Black represents the price when the report was produced

GBP/USD Intraday: the bias remains bullish.
Pivot: 1.3105

Our preference: long positions above 1.3105 with targets at 1.3185 & 1.3235 in extension.

Alternative scenario: below 1.3105 look for further downside with 1.3070 & 1.3030 as targets.

Comment: the RSI shows upside momentum.

Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point |  Black represents the price when the report was produced


AUD/USD Intraday: the bias remains bullish.
Pivot: 0.7255

Our preference: long positions above 0.7255 with targets at 0.7325 & 0.7360 in extension.

Alternative scenario: below 0.7255 look for further downside with 0.7235 & 0.7210 as targets.

Comment: the RSI shows upside momentum.

Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point |  Black represents the price when the report was produced


USD/CAD Intraday: break of a ST rising trendline support.
Pivot: 1.3115

Our preference: short positions below 1.3115 with targets at 1.3045 & 1.3010 in extension.

Alternative scenario: above 1.3115 look for further upside with 1.3135 & 1.3155 as targets.

Comment: the RSI shows downside momentum.

Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point |  Black represents the price when the report was produced


Gold spot Intraday: further advance.
Pivot: 1227.50

Our preference: long positions above 1227.50 with targets at 1236.00 & 1240.00 in extension.

Alternative scenario: below 1227.50 look for further downside with 1225.00 & 1222.50 as targets.

Comment: the RSI is bullish and calls for further upside.

Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point |  Black represents the price when the report was produced

Crude Oil (WTI) (Z18) Intraday: continuation of the rebound.
Pivot: 62.20

Our preference: long positions above 62.20 with targets at 63.30 & 63.90 in extension.

Alternative scenario: below 62.20 look for further downside with 61.70 & 61.30 as targets.

Comment: the break above the resistance at 62.20 triggered an upward acceleration to 63.30.

Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point |  Black represents the price when the report was produced

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