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Daily Technical Strategies

12th April 2017

EUR/USD INTRADAY: THE BIAS REMAINS BULLISH

Pivot: 1.0570

Our preference: long positions above 1.0570 with targets at 1.0630 & 1.0655 in extension.

Alternative scenario: below 1.0570 look for further downside with 1.0550 & 1.0520 as targets.

Comment: the RSI lacks downward momentum.

USD/JPY INTRADAY: THE DOWNSIDE PREVAILS

Pivot: 110.10

Our preference: short positions below 110.10 with targets at 109.05 & 108.70 in extension.

Alternative scenario: above 110.10 look for further upside with 110.50 & 111.00 as targets.

Comment: the RSI is mixed to bearish.

GBP/USD INTRADAY: THE UPSIDE PREVAILS

Pivot: 1.2445

Our preference: long positions above 1.2445 with targets at 1.2505 & 1.2525 in extension.

Alternative scenario: below 1.2445 look for further downside with 1.2425 & 1.2400 as targets.

Comment: the RSI is mixed to bullish.

GOLD SPOT INTRADAY: FURTHER ADVANCE

Pivot: 1268.50

Our preference: long positions above 1268.50 with targets at 1280.00 & 1288.70 in extension.

Alternative scenario: below 1268.50 look for further downside with 1261.70 & 1257.50 as targets.

Comment: the RSI is mixed to bullish.

SILVER SPOT INTRADAY: FURTHER UPSIDE

Pivot: 18.1800

Our preference: long positions above 18.1800 with targets at 18.4700 & 18.5700 in extension.

Alternative scenario: below 18.1800 look for further downside with 18.1100 & 18.0300 as targets.

Comment: the RSI is mixed with a bullish bias.

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

Pivot: 53.10

Our preference: long positions above 53.10 with targets at 53.95 & 54.20 in extension.

Alternative scenario: below 53.10 look for further downside with 52.70 & 52.30 as targets.

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

DOW JONES (CME) (M7) INTRADAY: INTRADAY SUPPORT AROUND 20460.00

Pivot: 20460.00

Our preference: long positions above 20460.00 with targets at 20625.00 & 20670.00 in extension.

Alternative scenario: below 20460.00 look for further downside with 20420.00 & 20380.00 as targets.

Comment: the RSI is mixed and calls for caution.

S&P 500 (CME) (M7) INTRADAY: REBOUND EXPECTED

Pivot: 2335.00

Our preference: long positions above 2335.00 with targets at 2353.00 & 2360.00 in extension.

Alternative scenario: below 2335.00 look for further downside with 2330.00 & 2325.00 as targets.

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

DAX (EUREX) (M7) INTRADAY: REBOUND IN SIGHT

Pivot: 12140.00

Our preference: long positions above 12140.00 with targets at 12230.00 & 12256.00 in extension.

Alternative scenario: below 12140.00 look for further downside with 12097.00 & 12060.00 as targets.

Comment: the RSI has just landed on a support around 30% and is reversing up.

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

Pivot: 7268.00

Our preference: long positions above 7268.00 with targets at 7328.00 & 7348.00 in extension.

Alternative scenario: below 7268.00 look for further downside with 7253.00 & 7230.00 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.