Daily Technical Strategies(2016.01.25)

Daily Technical Strategies(2016.01.25)

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

FTSE 100 (NYSE Liffe) (H6) Intraday: bullish bias above 5760.

Pivot: 5760

Our preference: long positions above 5760 with targets @ 5940 & 5960 in extension.

Alternative scenario: below 5760 look for further downside with 5680 & 5540 as targets.

Comment: the RSI is mixed with a bullish bias.

Dax (Eurex) (H6) Intraday: bullish bias above 9640.

Pivot: 9640

Our preference: long positions above 9640 with targets @ 9940 & 10025 in extension.

Alternative scenario: below 9640 look for further downside with 9425 & 9255 as targets.

Comment: the RSI is bullish and calls for further upside.

Dow Jones (CME) (H6) Intraday: bullish bias above 15720.

Pivot: 15720

Our preference: long positions above 15720 with targets @ 16190 & 16390 in extension.

Alternative scenario: below 15720 look for further downside with 15530 & 15365 as targets.

Comment: the RSI is mixed to bullish.

EUR/USD Intraday: capped by a negative trend line.

Pivot: 1.0845

Our preference: short positions below 1.0845 with targets @ 1.0775 & 1.0745 in extension.

Alternative scenario: above 1.0845 look for further upside with 1.0865 & 1.0895 as targets.

Comment: as long as 1.0845 is resistance, look for choppy price action with a bearish bias.

GBP/USD Intraday: the upside prevails.

Pivot: 1.425

Our preference: long positions above 1.425 with targets @ 1.436 & 1.44 in extension.

Alternative scenario: below 1.425 look for further downside with 1.42 & 1.4165 as targets.

Comment: the RSI is bullish and calls for further upside.