Daily Technical Strategies

EUR/USD INTRADAY: THE DOWNSIDE PREVAILS.

Pivot: 1.0670

Our preference: short positions below 1.0670 with targets at 1.0625 & 1.0600 in extension.

Alternative scenario: above 1.0670 look for further upside with 1.0690 & 1.0705 as targets.

Comment: the RSI lacks upward momentum.

USD/JPY INTRADAY: UNDER PRESSURE.

Pivot: 110.75

Our preference: short positions below 110.75 with targets at 110.05 & 109.70 in extension.

Alternative scenario: above 110.75 look for further upside with 111.00 & 111.45 as targets.

Comment: the RSI lacks upward momentum.

GBP/USD INTRADAY: UNDER PRESSURE.

Pivot: 1.2500

Our preference: short positions below 1.2500 with targets at 1.2450 & 1.2420 in extension.

Alternative scenario: above 1.2500 look for further upside with 1.2515 & 1.2535 as targets.

Comment: a break below 1.2450 would trigger a drop towards 1.2420.

GOLD SPOT INTRADAY: FURTHER ADVANCE.

SILVER SPOT INTRADAY: BULLISH BIAS ABOVE 18.3400.

Pivot: 18.3400

Our preference: long positions above 18.3400 with targets at 18.5100 & 18.5700 in extension.

Alternative scenario: below 18.3400 look for further downside with 18.2800 & 18.1900 as targets.

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

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

Pivot: 51.89

Our preference: long positions above 51.89 with targets at 53.38 & 53.75 in extension.

Alternative scenario: below 51.89 look for further downside with 51.31 & 50.85 as targets.

Comment: the RSI is mixed to bullish.

DOW JONES (CME) (M7) INTRADAY: SUPPORTED BY A RISING TREND LINE.

Pivot: 20560.00

Our preference: long positions above 20560.00 with targets at 20655.00 & 20715.00 in extension.

Alternative scenario: below 20560.00 look for further downside with 20520.00 & 20490.00 as targets.

Comment: the RSI is mixed to bullish.

S&P 500 (CME) (M7) INTRADAY: TURNING DOWN.

Pivot: 2352.00

Our preference: short positions below 2352.00 with targets at 2337.00 & 2334.00 in extension.

Alternative scenario: above 2352.00 look for further upside with 2357.50 & 2362.00 as targets.

Comment: the RSI is capped by a bearish trend line. The prices broke below the intraday rising trend line.

DAX (EUREX) (M7) INTRADAY: THE DOWNSIDE PREVAILS.

Pivot: 12265.00

Our preference: short positions below 12265.00 with targets at 12120.00 & 12060.00 in extension.

Alternative scenario: above 12265.00 look for further upside with 12320.00 & 12375.00 as targets.

Comment: as long as the resistance at 12265.00 is not surpassed, the risk of the break below 12120.00 remains high. 

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

Pivot: 7261.00

Our preference: short positions below 7261.00 with targets at 7195.00 & 7162.00 in extension.

Alternative scenario: above 7261.00 look for further upside with 7284.00 & 7294.00 as targets.

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

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