Daily Technical Strategies (2016.06.06)

Daily Technical Strategies – FTSE 100 (NYSE Liffe) (M6) Intraday: key resistance at 6245.00.

Pivot: 6245.00

Our preference: short positions below 6245.00 with targets @ 6195.00 & 6160.00 in extension.

Alternative scenario: above 6245.00 look for further upside with 6280.00 & 6315.00 as targets.

Comment: as long as 6245.00 is resistance, look for choppy price action with a bearish bias.

Dax (Eurex) (M6) Intraday: the downside prevails.

Pivot: 10285.00

Our preference: short positions below 10285.00 with targets @ 10035.00 & 9970.00 in extension.

Alternative scenario: above 10285.00 look for further upside with 10375.00 & 10522.00 as targets.

Comment: as long as 10285.00 is resistance, look for choppy price action with a bearish bias.

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

Pivot: 17675.00

Our preference: long positions above 17675.00 with targets @ 17850.00 & 17910.00 in extension.

Alternative scenario: below 17675.00 look for further downside with 17610.00 & 17550.00 as targets.

Comment: the RSI is mixed to bullish.

EUR/USD Intraday: the bias remains bullish.

Pivot: 1.1280

Our preference: long positions above 1.1280 with targets @ 1.1375 & 1.1415 in extension.

Alternative scenario: below 1.1280 look for further downside with 1.1245 & 1.1220 as targets.

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

GBP/USD Intraday: the downside prevails.

Pivot: 1.4510

Our preference: short positions below 1.4510 with targets @ 1.4335 & 1.4285 in extension.

Alternative scenario: above 1.4510 look for further upside with 1.4585 & 1.4650 as targets.

Comment: the RSI is mixed to bearish.

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