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Daily Market Strategies

28th March 2017

EUR/USD INTRADAY: BULLISH BIAS ABOVE 1.0850.

Pivot: 1.0850

Our preference: long positions above 1.0850 with targets at 1.0875 & 1.0895 in extension.

Alternative scenario: below 1.0850 look for further downside with 1.0815 & 1.0790 as targets.

Comment: a support base at 1.0850 has formed and has allowed for a temporary stabilisation.

USD/JPY INTRADAY: BULLISH BIAS ABOVE 110.40.

Pivot: 110.40

Our preference: long positions above 110.40 with targets at 111.00 & 111.50 in extension.

Alternative scenario: below 110.40 look for further downside with 110.05 & 109.70 as targets.

Comment: the RSI is mixed to bullish.

GBP/USD INTRADAY: THE UPSIDE PREVAILS.

Pivot: 1.2530

Our preference: long positions above 1.2530 with targets at 1.2580 & 1.2615 in extension.

Alternative scenario: below 1.2530 look for further downside with 1.2505 & 1.2470 as targets.

Comment: the RSI is mixed to bullish.

GOLD SPOT INTRADAY: BULLISH BIAS ABOVE 1252.60

Pivot: 1252.60

Our preference: long positions above 1252.60 with targets at 1258.20 & 1261.15 in extension.

Alternative scenario: below 1252.60 look for further downside with 1249.50 & 1245.00 as targets.

Comment: the RSI lacks downward momentum.

SILVER SPOT INTRADAY: BULLISH BIAS ABOVE 17.9600.

Pivot: 17.9600

Our preference: long positions above 17.9600 with targets at 18.1300 & 18.2000 in extension.

Alternative scenario: below 17.9600 look for further downside with 17.8800 & 17.8100 as targets.

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

CRUDE OIL (WTI) (K7) INTRADAY: FURTHER UPSIDE.

Pivot: 47.50

Our preference: long positions above 47.50 with targets at 48.28 & 48.48 in extension.

Alternative scenario: below 47.50 look for further downside with 47.33 & 47.10 as targets.

Comment: the RSI is bullish and calls for further advance.

DOW JONES (CME) (M7) INTRADAY: UP TURN.

Pivot: 20355.50

Our preference: long positions above 20355.50 with targets at 20580.00 & 20655.00 in extension.

Alternative scenario: below 20355.50 look for further downside with 20290.00 & 20200.00 as targets.

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

S&P 500 (CME) (M7) INTRADAY: CONTINUATION OF THE REBOUND.

Pivot: 2328.50

Our preference: long positions above 2328.50 with targets at 2348.00 & 2352.00 in extension.

Alternative scenario: below 2328.50 look for further downside with 2317.75 & 2307.00 as targets.

Comment: the RSI lacks downward momentum.

DAX (EUREX) (M7) INTRADAY: CONSOLIDATION IN PLACE.

Pivot: 12065.00

Our preference: short positions below 12065.00 with targets at 11960.00 & 11935.00 in extension.

Alternative scenario: above 12065.00 look for further upside with 12108.00 & 12140.00 as targets.

Comment: as long as the resistance at 12065.00 is not surpassed, the risk of the break below 11960.00 remains high. 

FTSE 100 (ICE EUROPE) (M7) INTRADAY: LIMITED UPSIDE.

Pivot: 7180.00

Our preference: long positions above 7180.00 with targets at 7247.00 & 7270.00 in extension.

Alternative scenario: below 7180.00 look for further downside with 7159.00 & 7130.00 as targets.

Comment: the immediate trend remains up but the momentum is weak. 

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76.3% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76.3% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.