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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.

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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

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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.

fx5254

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.

euro4454

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.

forex6512

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.

fx1515115

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Sydney Says

0 1

Forex is a very complicated yet straight forward business if we have little sense then we can make it huge. This blog obviously plays a big role with daily analysis service available while I also get advantage with OctaFX broker since they also got incredible daily market news and analysis service, it is excellent due to been deadly accurate while there is no worry over charges, as it is absolutely free and it is given for all currency pairs, commodities and even indices!



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