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: watch 1.2430. |
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| Pivot: |
| 1.2360 |
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| Our preference: |
| Long positions above 1.2360 with targets at 1.2415 & 1.2430 in extension. |
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| Alternative scenario: |
| Below 1.2360 look for further downside with 1.2340 & 1.2320 as targets. |
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| Comment: |
| The RSI calls for a bounce. |
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| AUD/USD Intraday: towards 0.7040. |
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| Pivot: |
| 0.7120 |
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| Our preference: |
| Short positions below 0.7120 with targets at 0.7060 & 0.7040 in extension. |
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| Alternative scenario: |
| Above 0.7120 look for further upside with 0.7140 & 0.7160 as targets. |
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| Comment: |
| The RSI is bearish and calls for further decline. |
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| Gold Intraday: intraday support around 1918.00. |
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| Pivot: |
| 1918.00 |
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| Our preference: |
| Long positions above 1918.00 with targets at 1935.00 & 1942.00 in extension. |
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| Alternative scenario: |
| Below 1918.00 look for further downside with 1911.00 & 1906.00 as targets. |
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| Comment: |
| A support base at 1918.00 has formed and has allowed for a temporary stabilisation. |
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| USD/JPY Intraday: under pressure. |
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| Pivot: |
| 130.00 |
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| Our preference: |
| Short positions below 130.00 with targets at 129.00 & 128.60 in extension. |
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| Alternative scenario: |
| Above 130.00 look for further upside with 130.30 & 130.60 as targets. |
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| Comment: |
| The RSI has broken down its 30 level. |
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| Nasdaq 100 (CME) (H3) Intraday: caution. |
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| Pivot: |
| 12155.00 |
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| Our preference: |
| Long positions above 12155.00 with targets at 12340.00 & 12450.00 in extension. |
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| Alternative scenario: |
| Below 12155.00 look for further downside with 12020.00 & 11910.00 as targets. |
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| Comment: |
| Investors have to remain cautious since these levels may trigger profit taking. |
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| Dow Jones (CME) (H3) Intraday: intraday support around 33900.00. |
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| Pivot: |
| 33900.00 |
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| Our preference: |
| Long positions above 33900.00 with targets at 34240.00 & 34370.00 in extension. |
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| Alternative scenario: |
| Below 33900.00 look for further downside with 33790.00 & 33700.00 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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| GBP/JPY intraday: below its lower Bollinger band |
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| 161.84 is our pivot point. |
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| Our preference: |
| Under pressure below 161.84. |
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| Alternative scenario: |
| Above 161.84, look for 162.93 and 163.58. |
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| Comment: |
| The RSI is below its neutrality area at 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 161.01 and 160.87). Finally, the GBP/JPY has penetrated its lower Bollinger band (160.54). |
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