Daily Technical Strategies(Forex News)

Daily Technical Strategies(Forex News)

Source: ETX Capital Broker (Review and Forex Rebates Up to 85%)

FTSE 100 (NYSE Liffe) (H6) Intraday: capped by a negative trend line.

Pivot: 5970

Our preference: short positions below 5970 with targets @ 5770 & 5730 in extension.

Alternative scenario: above 5970 look for further upside with 6030 & 6060 as targets.

Comment: the RSI advocates for further decline.

Dax (Eurex) (H6) Intraday: key resistance at 10125.

Pivot: 10125

Our preference: short positions below 10125 with targets @ 9570 & 9400 in extension.

Alternative scenario: above 10125 look for further upside with 10290 & 10425 as targets.

Comment: the RSI is bearish and calls for further downside

Dow Jones (CME) (H6) Intraday: the downside prevails.

Pivot: 16600

Our preference: short positions below 16600 with targets @ 16070 & 15910 in extension.

Alternative scenario: above 16600 look for further upside with 16880 & 17100 as targets.

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

EUR/USD Intraday: the upside prevails.

Pivot: 1.0875

Our preference: long positions above 1.0875 with targets @ 1.099 & 1.1035 in extension.

Alternative scenario: below 1.0875 look for further downside with 1.0825 & 1.077 as targets.

Comment: technically the RSI is above its neutrality area at 50.

GBP/USD Intraday: the downside prevails.

Pivot: 1.4565

Our preference: short positions below 1.4565 with targets @ 1.449 & 1.445 in extension.

Alternative scenario: above 1.4565 look for further upside with 1.46 & 1.4645 as targets.

Comment: as long as the resistance at 1.4565 is not surpassed, the risk of the break below 1.449 remains high.

Gold spot Intraday: bullish bias above 1096.

Pivot: 1096

Our preference: long positions above 1096 with targets @ 1110 & 1114 in extension.

Alternative scenario: below 1096 look for further downside with 1091 & 1086 as targets.

Comment: the RSI is mixed to bullish.