Daily Technical Strategies(2016.01.18)
Source: ETX Capital (Review and Forex Rebates Up to 85%)
Pivot: 5845
Our preference: short positions below 5845 with targets @ 5680 & 5640 in extension.
Alternative scenario: above 5845 look for further upside with 5900 & 5960 as targets.
Comment: the RSI is bearish and calls for further downside.
Dax (Eurex) (H6) Intraday: the downside prevails.
Pivot: 9720
Our preference: short positions below 9720 with targets @ 9320 & 9170 in extension.
Alternative scenario: above 9720 look for further upside with 9945 & 10165 as targets.
Comment: the RSI is bearish and calls for further downside
Dow Jones (CME) (H6) Intraday: the downside prevails.
Pivot: 16185
Our preference: short positions below 16185 with targets @ 15750 & 15670 in extension.
Alternative scenario: above 16185 look for further upside with 16390 & 16530 as targets.
Comment: the RSI is mixed with a bearish bias.
EUR/USD Intraday: under pressure.
Pivot: 1.0945
Our preference: short positions below 1.0945 with targets @ 1.0835 & 1.08 in extension.
Alternative scenario: above 1.0945 look for further upside with 1.0985 & 1.103 as targets.
Comment: the RSI is badly directed.
GBP/USD Intraday: the downside prevails.
Pivot: 1.432
Our preference: short positions below 1.432 with targets @ 1.4225 & 1.4185 in extension.
Alternative scenario: above 1.432 look for further upside with 1.436 & 1.44 as targets.
Comment: as long as 1.432 is resistance, look for choppy price action with a bearish bias.
Gold spot Intraday: continuation of the rebound.
Pivot: 1085
Our preference: long positions above 1085 with targets @ 1100 & 1106 in extension.
Alternative scenario: below 1085 look for further downside with 1076 & 1071 as targets.
Comment: the RSI is mixed to bullish.
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