| Wednesday, October 23, 2024 | |
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| EUR/USD Intraday: key resistance at 1.0815. | Next |
| Pivot: 1.0815
Our preference: short positions below 1.0815 with targets at 1.0785 & 1.0770 in extension.
Alternative scenario: above 1.0815 look for further upside with 1.0835 & 1.0855 as targets.
Comment: the upward potential is likely to be limited by the resistance at 1.0815.
|  | | 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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| Our pivot point is at 163.28.
Our preference: the upside prevails as long as 163.28 is support.
Alternative scenario: below 163.28, expect 162.53 and 162.09.
Comment: the RSI is above 70. It could mean either that the pair is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 163.36 and 163.30).
|  | | 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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| Pivot: 1.2995
Our preference: short positions below 1.2995 with targets at 1.2960 & 1.2940 in extension.
Alternative scenario: above 1.2995 look for further upside with 1.3015 & 1.3035 as targets.
Comment: intraday technical indicators are mixed and call for caution.
|  | | 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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| Our pivot point stands at 196.22.
Our preference: the upside prevails as long as 196.22 is support.
Alternative scenario: the downside breakout of 196.22 would call for 195.23 and 194.65.
Comment: the RSI is trading above 70. This could mean that either the pair is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 196.39 and 196.13).
|  | | 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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| Pivot: 151.50
Our preference: long positions above 151.50 with targets at 152.40 & 152.75 in extension.
Alternative scenario: below 151.50 look for further downside with 151.10 & 150.60 as targets.
Comment: the break above 151.50 is a positive signal that has opened a path to 152.40.
|  | | 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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| Pivot: 1.3835
Our preference: short positions below 1.3835 with targets at 1.3810 & 1.3795 in extension.
Alternative scenario: above 1.3835 look for further upside with 1.3850 & 1.3865 as targets.
Comment: a break below 1.3810 would trigger a drop towards 1.3795.
|  | | 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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| Crude Oil (WTI) (Z4) Intraday: expect 72.70. | Previous | Next |
| Pivot: 70.60
Our preference: long positions above 70.60 with targets at 72.00 & 72.70 in extension.
Alternative scenario: below 70.60 look for further downside with 70.00 & 69.40 as targets.
Comment: the RSI advocates 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 | |
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| Brent (ICE) (Z4) Intraday: bullish bias above 74.70. | Previous | Next |
| Pivot: 74.70
Our preference: long positions above 74.70 with targets at 76.30 & 76.90 in extension.
Alternative scenario: below 74.70 look for further downside with 74.25 & 73.50 as targets.
Comment: the RSI is mixed with a bullish bias.
|  | | 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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| Dow Jones (CME) (Z4) Intraday: key resistance at 43280.00. | Previous | Next |
| Pivot: 43280.00
Our preference: short positions below 43280.00 with targets at 42790.00 & 42600.00 in extension.
Alternative scenario: above 43280.00 look for further upside with 43470.00 & 43580.00 as targets.
Comment: the RSI is below its neutrality area at 50%
|  | | 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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| Gold Intraday: further advance. | Previous |
| Pivot: 2737.00
Our preference: long positions above 2737.00 with targets at 2757.00 & 2765.00 in extension.
Alternative scenario: below 2737.00 look for further downside with 2727.00 & 2721.00 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 | |
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