Daily Technical Strategies(2016.01.22)

Daily Technical Strategies(2016.01.22)

Source: ETX Capital(Review and Forex Rebates up to 85%)

 
FTSE 100 (NYSE Liffe) (H6) Intraday: bullish bias above 5685.

Pivot: 5685

Our preference: long positions above 5685 with targets @ 5820 & 5859 in extension.

Alternative scenario: below 5685 look for further downside with 5600 & 5540 as targets.

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

Dax (Eurex) (H6) Intraday: bullish bias above 9430.

Pivot: 9430

Our preference: long positions above 9430 with targets @ 9760 & 9940 in extension.

Alternative scenario: below 9430 look for further downside with 9255 & 9150 as targets.

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

Dow Jones (CME) (H6) Intraday: rebound.

Pivot: 15560

Our preference: long positions above 15560 with targets @ 16190 & 16390 in extension.

Alternative scenario: below 15560 look for further downside with 15365 & 15260 as targets.

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

EUR/USD Intraday: under pressure.

Pivot: 1.0895

Our preference: short positions below 1.0895 with targets @ 1.0805 & 1.0775 in extension.

Alternative scenario: above 1.0895 look for further upside with 1.092 & 1.094 as targets.

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

GBP/USD Intraday: the bias remains bullish.

Pivot: 1.4125

Our preference: long positions above 1.4125 with targets @ 1.427 & 1.4325 in extension.

Alternative scenario: below 1.4125 look for further downside with 1.408 & 1.4005 as targets.

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