Daily Technical Strategies(2016.01.21)

Daily Technical Strategies(2016.01.19)

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

 
FTSE 100 (NYSE Liffe) (H6) Intraday: the downside prevails.

Pivot: 5725

Our preference: short positions below 5725 with targets @ 5540 & 5500 in extension.

Alternative scenario: above 5725 look for further upside with 5775 & 5859 as targets.

Comment: the RSI is mixed to bearish.

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

Pivot: 9530

Our preference: short positions below 9530 with targets @ 9255 & 9150 in extension.

Alternative scenario: above 9530 look for further upside with 9650 & 9760 as targets.

Comment: the RSI advocates for further downside.

Dow Jones (CME) (H6) Intraday: rebound.

Pivot: 15510

Our preference: long positions above 15510 with targets @ 15870 & 15990 in extension.

Alternative scenario: below 15510 look for further downside with 15365 & 15260 as targets.

Comment: the RSI is mixed to bullish.

EUR/USD Intraday: under pressure.

Pivot: 1.0935

Our preference: short positions below 1.0935 with targets @ 1.0855 & 1.0835 in extension.

Alternative scenario: above 1.0935 look for further upside with 1.0975 & 1.101 as targets.

Comment: as long as 1.0935 is resistance, look for choppy price action with a bearish bias.

GBP/USD Intraday: key resistance at 1.423.

Pivot: 1.423

Our preference: short positions below 1.423 with targets @ 1.4125 & 1.408 in extension.

Alternative scenario: above 1.423 look for further upside with 1.427 & 1.432 as targets.

Comment: as long as 1.423 is resistance, look for choppy price action with a bearish bias.

Gold spot Intraday: bullish bias above 1095.

Pivot: 1095

Our preference: long positions above 1095 with targets @ 1106 & 1110 in extension.

Alternative scenario: below 1095 look for further downside with 1090.5 & 1086 as targets.

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