FX Majors: Technical Overview For Wednesday Feb 7, 2018

EUR/USD Intraday: capped by a negative trend line.

EUR/USD 30m Chart

Pivot: 1.2410

Our preference: short positions below 1.2410 with targets at 1.2350 & 1.2315 in extension.

Alternative scenario: above 1.2410 look for further upside with 1.2435 & 1.2475 as targets.

Comment: as long as the resistance at 1.2410 is not surpassed, the risk of the break below 1.2350 remains high.

Supports and resistances:

1.2475 1.2435 1.2410

1.2375 Last seen

1.2350 1.2315 1.2280

GBP/USD Intraday: the bias remains bullish.

GBP/USD 30m Chart

Pivot: 1.3930

Our preference: long positions above 1.3930 with targets at 1.4000 & 1.4035 in extension.

Alternative scenario: below 1.3930 look for further downside with 1.3900 & 1.3840 as targets.

Comment: the RSI shows upside momentum.

Supports and resistances:

1.4080 1.4035 1.4000

1.3960 Last seen

1.3930 1.3900 1.3840

USD/JPY Intraday: intraday support around 109.05.

USD/JPY 30m Chart

Pivot: 109.05

Our preference: long positions above 109.05 with targets at 109.70 & 109.90 in extension.

Alternative scenario: below 109.05 look for further downside with 108.80 & 108.40 as targets.

Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

Supports and resistances:

110.25 109.90 109.70

109.40 Last seen

109.05 108.80 108.40

USD/CAD Intraday: the bias remains bullish.

USD/CAD 30m Chart

Pivot: 1.2470

Our preference: long positions above 1.2470 with targets at 1.2565 & 1.2615 in extension.

Alternative scenario: below 1.2470 look for further downside with 1.2405 & 1.2360 as targets.

Comment: the RSI shows upside momentum.

Supports and resistances:

1.2665 1.2615 1.2565

1.2517 Last seen

1.2470 1.2405 1.2360

NZD/USD Intraday: the upside prevails.

NZD/USD 30m Chart

Pivot: 0.7290

Our preference: long positions above 0.7290 with targets at 0.7345 & 0.7380 in extension.

Alternative scenario: below 0.7290 look for further downside with 0.7255 & 0.7225 as targets.

Comment: the RSI lacks downward momentum.

Supports and resistances:

0.7405 0.7380 0.7345

0.7320 Last seen

0.7290 0.7255 0.7225

AUD/USD Intraday: turning down.

AUD/USD 30m Chart

Pivot: 0.7920

Our preference: short positions below 0.7920 with targets at 0.7835 & 0.7800 in extension.

Alternative scenario: above 0.7920 look for further upside with 0.7950 & 0.7995 as targets.

Comment: the RSI shows downside momentum.

Supports and resistances:

0.7995 0.7950 0.7920

0.7872 Last seen

0.7835 0.7800 0.7780

Gold spot Intraday: key resistance at 1333.50.

XAU/USD 30m Chart

Pivot: 1333.50

Our preference: short positions below 1333.50 with targets at 1324.00 & 1320.00 in extension.

Alternative scenario: above 1333.50 look for further upside with 1339.00 & 1346.00 as targets.

Comment: the RSI is mixed and calls for caution.

Supports and resistances:

1346.00 1339.00 1333.50

1330.80 Last seen

1324.00 1320.00 1316.00

Crude Oil‏ (WTI)‏ (H18) Intraday: under pressure.

Oil 30m Chart

Pivot: 64.30

Our preference: short positions below 64.30 with targets at 63.10 & 62.50 in extension.

Alternative scenario: above 64.30 look for further upside with 64.95 & 65.50 as targets.

Comment: the RSI is mixed with a bearish bias.

Supports and resistances:

65.50 64.95 64.30

63.86 Last seen

63.10 62.50 61.80

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