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Daily Technical Strategies

22nd March 2017

EUR/USD INTRADAY: BULLISH BIAS ABOVE 1.0780.

Pivot: 1.0780

Our preference: long positions above 1.0780 with targets at 1.0820 & 1.0850 in extension.

Alternative scenario: below 1.0780 look for further downside with 1.0750 & 1.0725 as targets.

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

USD/JPY INTRADAY: UNDER PRESSURE.

Pivot: 112.25

Our preference: short positions below 112.25 with targets at 111.35 & 110.90 in extension.

Alternative scenario: above 112.25 look for further upside with 112.90 & 113.50 as targets.

Comment: as long as 112.25 is resistance, look for choppy price action with a bearish bias.

GBP/USD INTRADAY: THE BIAS REMAINS BULLISH.

Pivot: 1.2425

Our preference: long positions above 1.2425 with targets at 1.2495 & 1.2535 in extension.

Alternative scenario: below 1.2425 look for further downside with 1.2380 & 1.2335 as targets.

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

GOLD SPOT INTRADAY: THE UPSIDE PREVAILS

Pivot: 1239.50

Our preference: long positions above 1239.50 with targets at 1247.50 & 1251.50 in extension.

Alternative scenario: below 1239.50 look for further downside with 1235.30 & 1231.00 as targets.

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

SILVER SPOT INTRADAY: THE BIAS REMAINS BULLISH.

Pivot: 17.4600

Our preference: long positions above 17.4600 with targets at 17.5900 & 17.6800 in extension.

Alternative scenario: below 17.4600 look for further downside with 17.3800 & 17.3100 as targets.

Comment: the RSI is mixed to bullish.

CRUDE OIL (WTI) (K7) INTRADAY: THE DOWNSIDE PREVAILS.

Pivot: 48.25

Our preference: short positions below 48.25 with targets at 47.70 & 47.46 in extension.

Alternative scenario: above 48.25 look for further upside with 48.46 & 48.67 as targets.

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

DOW JONES (CME) (M7) INTRADAY: THE DOWNSIDE PREVAILS.

Pivot: 20660.00

Our preference: short positions below 20660.00 with targets at 20540.00 & 20500.00 in extension.

Alternative scenario: above 20660.00 look for further upside with 20700.00 & 20750.00 as targets.

Comment: the RSI is mixed with a bearish bias.

S&P 500 (CME) (M7) INTRADAY: UNDER PRESSURE.

Pivot: 2350.00

Our preference: short positions below 2350.00 with targets at 2326.00 & 2318.00 in extension.

Alternative scenario: above 2350.00 look for further upside with 2357.25 & 2365.50 as targets.

Comment: as long as 2350.00 is resistance, likely decline to 2326.00.

DAX (EUREX) (M7) INTRADAY: INTRADAY SUPPORT AROUND 12048.00.

Pivot: 12048.00

Our preference: long positions above 12048.00 with targets at 12130.00 & 12150.00 in extension.

Alternative scenario: below 12048.00 look for further downside with 12010.00 & 11990.00 as targets.

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

FTSE 100 (ICE EUROPE) (M7) INTRADAY: THE DOWNSIDE PREVAILS

Pivot: 7313.00

Our preference: short positions below 7313.00 with targets at 7275.00 & 7253.00 in extension.

Alternative scenario: above 7313.00 look for further upside with 7335.00 & 7355.00 as targets.

Comment: the RSI shows downside momentum.

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.