Daily Forex News(2016.02.01)

Daily Forex News(2016.02.01)

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

FTSE 100 (NYSE Liffe) (H6) Intraday: caution.

Pivot: 6075

Our preference: short positions below 6075 with targets @ 5960 & 5925 in extension.

Alternative scenario: above 6075 look for further upside with 6140 & 6200 as targets.

Comment: the upward potential is likely to be limited by the resistance at 6075.

Dax (Eurex) (H6) Intraday: key resistance at 9930.

Pivot: 9930

Our preference: short positions below 9930 with targets @ 9560 & 9440 in extension.

Alternative scenario: above 9930 look for further upside with 10000 & 10090 as targets.

Comment: the RSI lacks upward momentum.

Dow Jones (CME) (H6) Intraday: bullish bias above 16150.

Pivot: 16150

Our preference: long positions above 16150 with targets @ 16410 & 16500 in extension.

Alternative scenario: below 16150 look for further downside with 16050 & 15940 as targets.

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

EUR/USD Intraday: key resistance at 1.0885.

Pivot: 1.0885

Our preference: short positions below 1.0885 with targets @ 1.08 & 1.077 in extension.

Alternative scenario: above 1.0885 look for further upside with 1.0925 & 1.097 as targets.

Comment: as long as 1.0885 is resistance, look for choppy price action with a bearish bias.