[Tags]: gold, gold trend, forex market, US dollar index, forex technical analysis, oil price trend, crude oil WTI, euro, pound, Bitcoin
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Make Capital Daily Technical Analysis October 16, 2024
Gold Spot U.S. Crude Oil(WTI) EUR/USD GBP/USD Bitcoin/USD
【Daily Technical Analysis】
【Gold】Gold may rise to 2675.00 - 2685.00
Our preference
Pivot 2653.00
Long positions above 2653.00 with targets at 2675.00 & 2685.00 in extension.
Alternative scenario
Below 2653.00 look for further downside with 2645.00 & 2636.00 as targets.
Comment
The RSI is above its neutrality area at 50%.
【WTI】Crude Oil (WTI) may rise to 71.50 - 72.10
Our preference
Pivot 70.30
Long positions above 70.30 with targets at 71.50 & 72.10 in extension.
Alternative scenario
Below 70.30 look for further downside with 69.70 & 69.00 as targets.
Comment
The RSI calls for a bounce.
【EURUSD】EUR/USD may fall 12 - 27 pips
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Our preference
Pivot 1.0910
Short positions below 1.0910 with targets at 1.0875 & 1.0860 in extension.
Alternative scenario
Above 1.0910 look for further upside with 1.0925 & 1.0940 as targets.
Comment
A break below 1.0875 would trigger a drop towards 1.0860.
【GBPUSD】GBP/USD may rise 28 - 43 pips
Our preference
Pivot 1.3050
Long positions above 1.3050 with targets at 1.3095 & 1.3110 in extension.
Alternative scenario
Below 1.3050 look for further downside with 1.3030 & 1.3010 as targets.
Comment
A support base at 1.3050 has formed and has allowed for a temporary stabilisation.
【BTCUSD】Bitcoin / USD may rise to 68590 - 69200
Our preference
Our pivot point stands at 66500.
The upside prevails as long as 66500 is support.
Alternative scenario
Below 66500, expect 65470 and 64860.
Comment
The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 66855 and 66190).
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