Here are today's directional views from the global research desks of Trading Central! These are starting points for your own research to identify opportunities that make sense for you. Like what you see? Feel free to forward this to a friend!
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| Today's Trading Strategies |
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| Here are today's directional views from the global research desks of Trading Central! These are starting points for your own research to identify opportunities that make sense for you. Like what you see? Feel free to forward this to a friend! |
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Please note that due to market volatility, some of the key levels may have already been reached and scenarios played out. |
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| GBP/USD Intraday: bullish bias above 1.2300. |
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| Pivot: |
| 1.2300 |
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| Our preference: |
| Long positions above 1.2300 with targets at 1.2400 & 1.2440 in extension. |
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| Alternative scenario: |
| Below 1.2300 look for further downside with 1.2270 & 1.2240 as targets. |
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| Comment: |
| Even though a continuation of the consolidation cannot be ruled out, its extent should be limited. |
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| AUD/USD Intraday: turning down. |
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| Pivot: |
| 0.6865 |
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| Our preference: |
| Short positions below 0.6865 with targets at 0.6790 & 0.6760 in extension. |
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| Alternative scenario: |
| Above 0.6865 look for further upside with 0.6895 & 0.6920 as targets. |
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| Comment: |
| As long as 0.6865 is resistance, look for choppy price action with a bearish bias. |
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| Gold Intraday: the bias remains bullish. |
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| Pivot: |
| 1800.00 |
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| Our preference: |
| Long positions above 1800.00 with targets at 1816.00 & 1824.00 in extension. |
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| Alternative scenario: |
| Below 1800.00 look for further downside with 1795.00 & 1788.00 as targets. |
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| Comment: |
| The RSI has just landed on its neutrality area at 50% and is turning up. |
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| USD/JPY Intraday: key resistance at 136.40. |
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| Pivot: |
| 136.40 |
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| Our preference: |
| Short positions below 136.40 with targets at 134.80 & 134.40 in extension. |
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| Alternative scenario: |
| Above 136.40 look for further upside with 136.85 & 137.35 as targets. |
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| Comment: |
| As long as the resistance at 136.40 is not surpassed, the risk of the break below 134.80 remains high. |
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| Nasdaq 100 (CME) (H3) Intraday: intraday support around 11850.00. |
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| Pivot: |
| 11850.00 |
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| Our preference: |
| Long positions above 11850.00 with targets at 12100.00 & 12200.00 in extension. |
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| Alternative scenario: |
| Below 11850.00 look for further downside with 11730.00 & 11630.00 as targets. |
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| Comment: |
| The RSI has just landed on its neutrality area at 50% and is turning up. |
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| Dow Jones (CME) (H3) Intraday: intraday support around 34200.00. |
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| Pivot: |
| 34200.00 |
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| Our preference: |
| Long positions above 34200.00 with targets at 34750.00 & 35030.00 in extension. |
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| Alternative scenario: |
| Below 34200.00 look for further downside with 34010.00 & 33680.00 as targets. |
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| Comment: |
| A support base at 34200.00 has formed and has allowed for a temporary stabilisation. |
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| GBP/JPY intraday: rebound towards 168.82 |
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| Our pivot point stands at 166.73. |
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| Our preference: |
| Rebound towards 168.82. |
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| Alternative scenario: |
| The downside breakout of 166.73 would call for 165.95 and 165.48. |
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| Comment: |
| The RSI is below 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 167.48 and 168.05). |
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