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FxGrow: Forex Market Technical Overview

19 July 2017 04:48 PM BDT
FxGrow: Forex Market Technical Overview

FxGrow Daily Technical Analysis – 19th July, 2017 By FxGrow Research & Analysis Team FxGrow: Forex Market Technical Overview EUR/USD: Potential For 1.1585 high Pivot: 1.1510 Our preference: long positions above 1.1510 with targets at 1.1565 & 1.1585 in extension. Alternative scenario: below 1.1510 look for further downside with 1.1485 & 1.1470 as targets. Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited. GBP/USD Remains Under Pressure By Yesterday's Negative CPI Pivot: 1.3060 Our preference: short positions below 1.3060 with targets at 1.3000 & 1.2950 in extension. Alternative scenario: above 1.3060 look for further upside with 1.3085 & 1.3115 as targets. Comment: the RSI is mixed to bearish. USD/JPY Intraday: key resistance at 112.40 Pivot: 112.40 Our preference: short positions below 112.40 with targets at 111.75 & 111.50 in extension. Alternative scenario: above 112.40 look for further upside with 112.85 & 113.15 as targets. Comment: the RSI is mixed to bearish. AUD/USD: The Upside Prevails With 2017 New Highs Pivot: 0.7865 Our preference: long positions above 0.7865 with targets at 0.7950 & 0.7990 in extension. Alternative scenario: below 0.7865 look for further downside with 0.7835 & 0.7785 as targets. Comment: the RSI is mixed to bullish. Gold Extends Bullish Momentum Supported by Rising Trendline Pivot: 1238.00 Our preference: long positions above 1238.00 with targets at 1247.00 & 1250.00 in extension. Alternative scenario: below 1238.00 look for further downside with 1232.50 & 1227.00 as targets. Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited. 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.  

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