Daily Technical Strategies(2016.01.15)

Daily Technical Strategies(2016.01.15)

Source: ETX Capital Forex Broker (Review and Forex Rebates)

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

Pivot: 5960

Our preference: short positions below 5960 with targets @ 5805 & 5770 in extension.

Alternative scenario: above 5960 look for further upside with 6030 & 6105 as targets.

Comment: as long as 5960 is resistance, look for choppy price action with a bearish bias.

Dax (Eurex) (H6) Intraday: the downside prevails.

Pivot: 9935

Our preference: short positions below 9935 with targets @ 9580 & 9495 in extension.

Alternative scenario: above 9935 look for further upside with 10060 & 10165 as targets.

Comment: the RSI is bearish and calls for further downside.

Dow Jones (CME) (H6) Intraday: under pressure.

Pivot: 16380

Our preference: short positions below 16380 with targets @ 16000 & 15910 in extension.

Alternative scenario: above 16380 look for further upside with 16530 & 16716 as targets.

Comment: the RSI is mixed with a bearish bias.

EUR/USD Intraday: key resistance at 1.0895.

Pivot: 1.0895

Our preference: short positions below 1.0895 with targets @ 1.0835 & 1.08 in extension.

Alternative scenario: above 1.0895 look for further upside with 1.0945 & 1.0975 as targets.

Comment: the upward potential is likely to be limited by the resistance at 1.0895.

GBP/USD Intraday: the bias remains bullish.

Pivot: 1.435

Our preference: long positions above 1.435 with targets @ 1.443 & 1.4475 in extension.

Alternative scenario: below 1.435 look for further downside with 1.43 & 1.4225 as targets.

Comment: the RSI is mixed to bullish.

Gold spot Intraday: capped by a negative trend line.

Pivot: 1084

Our preference: short positions below 1084 with targets @ 1070 & 1063 in extension.

Alternative scenario: above 1084 look for further upside with 1089 & 1095 as targets.

Comment: the RSI lacks upward momentum.