Fx News (2016.05.19)

Fx News – FTSE 100 (NYSE Liffe) (M6) Intraday: key resistance at 6142.00.

Pivot: 6142.00

Our preference: short positions below 6142.00 with targets @ 6055.00 & 6030.00 in extension.

Alternative scenario: above 6142.00 look for further upside with 6162.00 & 6185.00 as targets.

Comment: the RSI is bearish and calls for further downside.

Dax (Eurex) (M6) Intraday: key resistance at 9960.00.

Pivot: 9960.00

Our preference: short positions below 9960.00 with targets @ 9790.00 & 9735.00 in extension.

Alternative scenario: above 9960.00 look for further upside with 10025.00 & 10080.00 as targets.

Comment: the RSI is below its neutrality area at 50%

Dow Jones (CME) (M6) Intraday: rebound expected.

Pivot: 17380.00

Our preference: long positions above 17380.00 with targets @ 17600.00 & 17640.00 in extension.

Alternative scenario: below 17380.00 look for further downside with 17300.00 & 17180.00 as targets.

Comment: the RSI is mixed to bullish.

EUR/USD Intraday: the downside prevails.

Pivot: 1.1290

Our preference: short positions below 1.1290 with targets @ 1.1195 & 1.1170 in extension.

Alternative scenario: above 1.1290 look for further upside with 1.1325 & 1.1350 as targets.

Comment: the RSI advocates for further decline.

GBP/USD Intraday: intraday support around 1.4520.

Pivot: 1.4520

Our preference: long positions above 1.4520 with targets @ 1.4640 & 1.4685 in extension.

Alternative scenario: below 1.4520 look for further downside with 1.4465 & 1.4430 as targets.

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

Gold spot Intraday: under pressure.

Pivot: 1269.00

Our preference: short positions below 1269.00 with targets @ 1253.00 & 1246.00 in extension.

Alternative scenario: above 1269.00 look for further upside with 1274.00 & 1282.00 as targets.

Comment: the RSI is capped by a declining trend line.

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