Technical Strategies

Technical Strategies – FTSE 100 (NYSE Liffe) (M6) Intraday: intraday support around 6090.00.

Pivot: 6090.00

Our preference: long positions above 6090.00 with targets @ 6140.00 & 6160.00 in extension.

Alternative scenario: below 6090.00 look for further downside with 6070.00 & 6015.00 as targets.

Comment: intraday technical indicators are mixed. A symmetrical triangle pattern is taking shape

Dax (Eurex) (M6) Intraday: bullish bias above 9925.00.

Pivot: 9925.00

Our preference: long positions above 9925.00 with targets @ 10035.00 & 10115.00 in extension.

Alternative scenario: below 9925.00 look for further downside with 9860.00 & 9735.00 as targets.

Comment: a support base at 9925.00 has formed and has allowed for a temporary stabilisation.

Dow Jones (CME) (M6) Intraday: caution.

Pivot: 17645.00

Our preference: long positions above 17645.00 with targets @ 17775.00 & 17825.00 in extension.

Alternative scenario: below 17645.00 look for further downside with 17600.00 & 17475.00 as targets.

Comment: the RSI is mixed and calls for caution.

EUR/USD Intraday: the upside prevails.

Pivot: 1.1400

Our preference: long positions above 1.1400 with targets @ 1.1445 & 1.1465 in extension.

Alternative scenario: below 1.1400 look for further downside with 1.1375 & 1.1360 as targets.

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

GBP/USD Intraday: intraday support around 1.4415.

Pivot: 1.4415

Our preference: long positions above 1.4415 with targets @ 1.4490 & 1.4525 in extension.

Alternative scenario: below 1.4415 look for further downside with 1.4370 & 1.4340 as targets.

Comment: a support base at 1.4415 has formed and has allowed for a temporary stabilisation.

Gold spot Intraday: the bias remains bullish.

Pivot: 1270.00

Our preference: long positions above 1270.00 with targets @ 1279.00 & 1283.10 in extension.

Alternative scenario: below 1270.00 look for further downside with 1264.30 & 1256.40 as targets.

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

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