Daily Technical Strategies EN(2016.01.28)

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

Daily Technical Strategies EN(2016.01.28).

 
FTSE 100 (NYSE Liffe) (H6) Intraday: key resistance at 5970.

Pivot: 5970

Our preference: short positions below 5970 with targets @ 5825 & 5800 in extension.

Alternative scenario: above 5970 look for further upside with 6030 & 6115 as targets.

Comment: the upward potential is likely to be limited by the resistance at 5970.

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

Pivot: 9930

Our preference: short positions below 9930 with targets @ 9675 & 9560 in extension.

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

Comment: the upward potential is likely to be limited by the resistance at 9930.

Dow Jones (CME) (H6) Intraday: bullish bias above 15640.

Pivot: 15640

Our preference: long positions above 15640 with targets @ 16050 & 16150 in extension.

Alternative scenario: below 15640 look for further downside with 15560 & 15450 as targets.

Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited. 15640 is acting as strong support

EUR/USD Intraday: bullish bias above 1.085.

Pivot: 1.085

Our preference: long positions above 1.085 with targets @ 1.092 & 1.094 in extension.

Alternative scenario: below 1.085 look for further downside with 1.082 & 1.08 as targets.

Comment: the RSI lacks downward momentum