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Daily Technical Strategies

30th March 2017

EUR/USD INTRADAY: THE DOWNSIDE PREVAILS

Pivot: 1.0775

Our preference: short positions below 1.0775 with targets at 1.0730 & 1.0700 in extension.

Alternative scenario: above 1.0775 look for further upside with 1.0800 & 1.0825 as targets.

Comment: a break below 1.0730 would trigger a drop towards 1.0700.

USD/JPY INTRADAY: THE UPSIDE PREVAILS

Pivot: 110.95

Our preference: long positions above 110.95 with targets at 111.50 & 111.85 in extension.

Alternative scenario: below 110.95 look for further downside with 110.75 & 110.50 as targets.

Comment: the RSI lacks downward momentum.

GBP/USD INTRADAY: KEY RESISTANCE AT 1.2470

Pivot: 1.2470

Our preference: short positions below 1.2470 with targets at 1.2400 & 1.2380 in extension.

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

Comment: as long as the resistance at 1.2470 is not surpassed, the risk of the break below 1.2400 remains high. 

GOLD SPOT INTRADAY: UNDER PRESSURE

Pivot: 1252.60

Our preference: short positions below 1252.60 with targets at 1247.10 & 1245.30 in extension.

Alternative scenario: above 1252.60 look for further upside with 1254.60 & 1256.00 as targets.

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

SILVER SPOT INTRADAY: CONSOLIDATION IN PLACE

Pivot: 18.0800

Our preference: long positions above 18.0800 with targets at 18.2400 & 18.3300 in extension.

Alternative scenario: below 18.0800 look for further downside with 18.0000 & 17.9000 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: 49.06

Our preference: long positions above 49.06 with targets at 50.13 & 50.48 in extension.

Alternative scenario: below 49.06 look for further downside with 48.85 & 48.48 as targets.

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

DOW JONES (CME) (M7) INTRADAY: REBOUND EXPECTED

Pivot: 20560.00

Our preference: long positions above 20560.00 with targets at 20660.00 & 20700.00 in extension.

Alternative scenario: below 20560.00 look for further downside with 20525.00 & 20465.00 as targets.

Comment: the RSI lacks downward momentum.

S&P 500 (CME) (M7) INTRADAY: THE BIAS REMAINS BULLISH

Pivot: 2344.00

Our preference: long positions above 2344.00 with targets at 2365.00 & 2375.00 in extension.

Alternative scenario: below 2344.00 look for further downside with 2333.50 & 2325.50 as targets.

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

DAX (EUREX) (M7) INTRADAY: CAUTION

Pivot: 12120.00

Our preference: long positions above 12120.00 with targets at 12264.00 & 12349.00 in extension.

Alternative scenario: below 12120.00 look for further downside with 12064.00 & 12020.00 as targets.

Comment: investors have to remain cautious since these levels may trigger profit taking.

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

Pivot: 7271.00

Our preference: long positions above 7271.00 with targets at 7328.00 & 7340.00 in extension.

Alternative scenario: below 7271.00 look for further downside with 7258.00 & 7244.00 as targets.

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

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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.