Daily Technical Strategies

EUR/USD INTRADAY: KEY RESISTANCE AT 1.0840.

Pivot: 1.0840

Our preference: short positions below 1.0840 with targets at 1.0790 & 1.0770 in extension.

Alternative scenario: above 1.0840 look for further upside with 1.0875 & 1.0905 as targets.

Comment: as long as the resistance at 1.0840 is not surpassed, the risk of the break below 1.0790 remains high. 

USD/JPY INTRADAY: FURTHER ADVANCE.

Pivot: 110.75

Our preference: long positions above 110.75 with targets at 111.50 & 111.85 in extension.

Alternative scenario: below 110.75 look for further downside with 110.50 & 110.25 as targets.

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

GBP/USD INTRADAY: THE DOWNSIDE PREVAILS.

Pivot: 1.2470

Our preference: short positions below 1.2470 with targets at 1.2380 & 1.2340 in extension.

Alternative scenario: above 1.2470 look for further upside with 1.2505 & 1.2545 as targets.

Comment: a break below 1.2380 would trigger a drop towards 1.2340.

GOLD SPOT INTRADAY: UNDER PRESSURE.

Pivot: 1252.50

Our preference: short positions below 1252.50 with targets at 1245.25 & 1242.00 in extension.

Alternative scenario: above 1252.50 look for further upside with 1256.00 & 1261.00 as targets.

Comment: the RSI is mixed with a bearish bias.

SILVER SPOT INTRADAY: THE DOWNSIDE PREVAILS.

Pivot: 18.1800

Our preference: short positions below 18.1800 with targets at 17.9400 & 17.8300 in extension.

Alternative scenario: above 18.1800 look for further upside with 18.2600 & 18.3300 as targets.

Comment: the RSI is mixed to bearish.

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

Pivot: 48.28

Our preference: long positions above 48.28 with targets at 48.75 & 48.99 in extension.

Alternative scenario: below 48.28 look for further downside with 48.06 & 47.90 as targets.

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

DOW JONES (CME) (M7) INTRADAY: FURTHER ADVANCE.

Pivot: 20575.00

Our preference: long positions above 20575.00 with targets at 20700.00 & 20745.00 in extension.

Alternative scenario: below 20575.00 look for further downside with 20535.00 & 20465.00 as targets.

Comment: the RSI lacks downward momentum.

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

Pivot: 2342.50

Our preference: long positions above 2342.50 with targets at 2365.00 & 2374.00 in extension.

Alternative scenario: below 2342.50 look for further downside with 2333.50 & 2325.50 as targets.

Comment: the RSI is mixed with a bullish bias.

DAX (EUREX) (M7) INTRADAY: WATCH 12140.00.

Pivot: 12032.00

Our preference: long @ 12090.00 with targets @ 12140.00 & 12170.00 in extension.

Alternative scenario: below 12032.00 look for further downside with 11990.00 & 11945.00 as targets.

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

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

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