Wednesday, October 05, 2016 Noor Capital Daily Technical Strategies


     
Noor Capital P.S.C.
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EUR/USD Intraday: the bias remains bullish.
Pivot: 1.1175

Our preference: long positions above 1.1175 with targets @ 1.1240 & 1.1260 in extension.

Alternative scenario: below 1.1175 look for further downside with 1.1150 & 1.1135 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


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USD/JPY Intraday: further upside.
Pivot: 102.00

Our preference: long positions above 102.00 with targets @ 103.15 & 103.65 in extension.

Alternative scenario: below 102.00 look for further downside with 101.65 & 101.25 as targets.

Comment: the RSI is mixed to bullish.
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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GBP/USD Intraday: capped by a negative trend line.
Pivot: 1.2775

Our preference: short positions below 1.2775 with targets @ 1.2685 & 1.2640 in extension.

Alternative scenario: above 1.2775 look for further upside with 1.2815 & 1.2850 as targets.

Comment: The pair is trading within a bearish channel.
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 spot Intraday: under pressure.
Pivot: 1287.00

Our preference: short positions below 1287.00 with targets @ 1257.00 & 1249.00 in extension.

Alternative scenario: above 1287.00 look for further upside with 1298.00 & 1314.00 as targets.

Comment: even though a continuation of the technical rebound cannot be ruled out, its extent should be limited.
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) (X6) Intraday: further advance.
Pivot: 48.27

Our preference: long positions above 48.27 with targets @ 49.75 & 50.15 in extension.

Alternative scenario: below 48.27 look for further downside with 47.75 & 47.05 as targets.

Comment: the RSI lacks downward 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

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Dow Jones (CME) (Z6) Intraday: consolidation.
Pivot: 18160.00

Our preference: short positions below 18160.00 with targets @ 18020.00 & 17960.00 in extension.

Alternative scenario: above 18160.00 look for further upside with 18230.00 & 18280.00 as targets.

Comment: the RSI is mixed with a bearish 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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