Daily Forex News (2016.03.02)

Daily Forex News(2016.03.02)

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

FTSE 100 (NYSE Liffe) (H6) Intraday: the upside prevails.

Pivot: 6080.00

Our preference: long positions above 6080.00 with targets @ 6230.00 & 6260.00 in extension.

Alternative scenario: below 6080.00 look for further downside with 6030.00 & 5995.00 as targets.

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

Dax (Eurex) (H6) Intraday: bullish bias above 9580.00.

Pivot: 9580.00

Our preference: long positions above 9580.00 with targets @ 9915.00 & 10010.00 in extension.

Alternative scenario: below 9580.00 look for further downside with 9485.00 & 9390.00 as targets.

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

Dow Jones (CME) (H6) Intraday: further upside.

Pivot: 16690.00

Our preference: long positions above 16690.00 with targets @ 17000.00 & 17100.00 in extension.

Alternative scenario: below 16690.00 look for further downside with 16600.00 & 16555.00 as targets.

Comment: the immediate trend remains up and the momentum is strong.

EUR/USD Intraday: the downside prevails.

Pivot: 1.0895

Our preference: short positions below 1.0895 with targets @ 1.0810 & 1.0785 in extension.

Alternative scenario: above 1.0895 look for further upside with 1.0915 & 1.0940 as targets.

Comment: the RSI is mixed to bearish.