Daily Technical Strategies(2016.02.09)

Daily Technical Strategies(2016.02.09)

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

 
FTSE 100 (NYSE Liffe) (H6) Intraday: key resistance at 5775.00.

Pivot: 5775.00

Our preference: short positions below 5775.00 with targets @ 5585.00 & 5545.00 in extension.

Alternative scenario: above 5775.00 look for further upside with 5835.00 & 5895.00 as targets.

Comment: the RSI advocates for further decline.

Dax (Eurex) (H6) Intraday: the downside prevails.

Pivot: 9330.00

Our preference: short positions below 9330.00 with targets @ 8810.00 & 8650.00 in extension.

Alternative scenario: above 9330.00 look for further upside with 9620.00 & 9845.00 as targets.

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

Dow Jones (CME) (H6) Intraday: the downside prevails.

Pivot: 16075.00

Our preference: short positions below 16075.00 with targets @ 15730.00 & 15650.00 in extension.

Alternative scenario: above 16075.00 look for further upside with 16200.00 & 16380.00 as targets.

Comment: as long as 16075.00 is resistance, look for choppy price action with a bearish bias.

EUR/USD Intraday: further advance.

Pivot: 1.1150

Our preference: long positions above 1.1150 with targets @ 1.1240 & 1.1310 in extension.

Alternative scenario: below 1.1150 look for further downside with 1.1120 & 1.1080 as targets.

Comment: technically the RSI is above its neutrality area at 50.