Daily Technical Strategies (2016.04.25)

Daily Technical Strategies 

FTSE 100 (NYSE Liffe) (M6) Intraday: the downside prevails.

Pivot: 6325.00

Our preference: short positions below 6325.00 with targets @ 6230.00 & 6210.00 in extension.

Alternative scenario: above 6325.00 look for further upside with 6355.00 & 6390.00 as targets.

Comment: as long as 6325.00 is resistance, look for choppy price action with a bearish bias.

 
Dax (Eurex) (M6) Intraday: bullish bias above 10310.00.

Pivot: 10310.00

Our preference: long positions above 10310.00 with targets @ 10550.00 & 10645.00 in extension.

Alternative scenario: below 10310.00 look for further downside with 10140.00 & 10045.00 as targets.

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

Dow Jones (CME) (M6) Intraday: under pressure.

Pivot: 17950.00

Our preference: short positions below 17950.00 with targets @ 17825.00 & 17750.00 in extension.

Alternative scenario: above 17950.00 look for further upside with 18010.00 & 18080.00 as targets.

Comment: the RSI advocates for further downside

EUR/USD Intraday: under pressure.

Pivot: 1.1270

Our preference: short positions below 1.1270 with targets @ 1.1215 & 1.1180 in extension.

Alternative scenario: above 1.1270 look for further upside with 1.1310 & 1.1345 as targets.

Comment: as long as the resistance at 1.1270 is not surpassed, the risk of the break below 1.1215 remains high.

GBP/USD Intraday: the upside prevails.

Pivot: 1.4365

Our preference: long positions above 1.4365 with targets @ 1.4460 & 1.4505 in extension.

Alternative scenario: below 1.4365 look for further downside with 1.4315 & 1.4285 as targets.

Comment: the RSI is supported by a rising trend line.

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