Daily Technical levels(2015.01.05)

Daily Technical levels(2015.01.05)

Source: Orbex Forex Broker (Review and Forex Rebates Up to 85%)

EUR/USD Intraday: under pressure.

Pivot: 1.0865

Our preference: short positions below 1.0865 with targets @ 1.078 & 1.0755 in extension.

Alternative scenario: above 1.0865 look for further upside with 1.0895 & 1.094 as targets.

Comment: the RSI lacks upward momentum.

EUR/USD Chart

USD/CHF Intraday: the bias remains bullish.

Pivot: 0.997

Our preference: long positions above 0.997 with targets @ 1.006 & 1.0085 in extension.

Alternative scenario: below 0.997 look for further downside with 0.9925 & 0.9875 as targets.

Comment: the RSI lacks downward momentum.

USD/CHF Chart

GBP/USD Intraday: key resistance at 1.4755.

Pivot: 1.4755

Our preference: short positions below 1.4755 with targets @ 1.466 & 1.463 in extension.

Alternative scenario: above 1.4755 look for further upside with 1.479 & 1.4815 as targets.

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

GBP/USD Chart

Dow Jones (CME) (H6) Intraday: under pressure.

Pivot: 17170

Our preference: short positions below 17170 with targets @ 16850 & 16770 in extension.

Alternative scenario: above 17170 look for further upside with 17300 & 17410 as targets.

Comment: the index currently faces a challenging resistance area at 17170.

Dow Jones (CME) Chart