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Daily Technical Strategies

10th April 2017

EUR/USD INTRADAY: THE DOWNSIDE PREVAILS

Pivot: 1.0615

Our preference: short positions below 1.0615 with targets at 1.0550 & 1.0525 in extension.

Alternative scenario: above 1.0615 look for further upside with 1.0635 & 1.0655 as targets.

Comment: the RSI is mixed to bearish.

USD/JPY INTRADAY: FURTHER UPSIDE

Pivot: 111.00

Our preference: long positions above 111.00 with targets at 111.75 & 112.00 in extension.

Alternative scenario: below 111.00 look for further downside with 110.70 & 110.25 as targets.

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

GBP/USD INTRADAY: UNDER PRESSURE

Pivot: 1.2410

Our preference: short positions below 1.2410 with targets at 1.2360 & 1.2335 in extension.

Alternative scenario: above 1.2410 look for further upside with 1.2450 & 1.2475 as targets.

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

GOLD SPOT INTRADAY: THE DOWNSIDE PREVAILS

Pivot: 1259.00

Our preference: short positions below 1259.00 with targets at 1249.40 & 1244.00 in extension.

Alternative scenario: above 1259.00 look for further upside with 1262.00 & 1267.40 as targets.

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

SILVER SPOT INTRADAY: UNDER PRESSURE

Pivot: 18.1100

Our preference: short positions below 18.1100 with targets at 17.8400 & 17.7600 in extension.

Alternative scenario: above 18.1100 look for further upside with 18.1900 & 18.2600 as targets.

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

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

Pivot: 51.80

Our preference: long positions above 51.80 with targets at 52.95 & 53.38 in extension.

Alternative scenario: below 51.80 look for further downside with 51.31 & 50.75 as targets.

Comment: the RSI is mixed with a bullish bias.

DOW JONES (CME) (M7) INTRADAY: FURTHER UPSIDE

Pivot: 20545.00

Our preference: long positions above 20545.00 with targets at 20690.00 & 20730.00 in extension.

Alternative scenario: below 20545.00 look for further downside with 20510.00 & 20460.00 as targets.

Comment: the RSI is mixed to bullish.

S&P 500 (CME) (M7) INTRADAY: SUPPORTED BY A RISING TREND LINE

Pivot: 2346.50

Our preference: long positions above 2346.50 with targets at 2362.00 & 2367.00 in extension.

Alternative scenario: below 2346.50 look for further downside with 2343.00 & 2337.00 as targets.

Comment: the RSI is supported by a rising trend line.

DAX (EUREX) (M7) INTRADAY: CAPPED BY A NEGATIVE TREND LINE.

Pivot: 12265.00

Our preference: short positions below 12265.00 with targets at 12148.00 & 12100.00 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 12148.00 remains high. 

FTSE 100 (ICE EUROPE) (M7) INTRADAY: TURNING UP

Pivot: 7255.00

Our preference: long positions above 7255.00 with targets at 7316.00 & 7333.00 in extension.

Alternative scenario: below 7255.00 look for further downside with 7225.00 & 7195.00 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.