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EUR/USD Intraday: the upside prevails.
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Pivot: 1.1645
Our preference: long positions above 1.1645 with targets at 1.1680 & 1.1700 in extension.
Alternative scenario: below 1.1645 look for further downside with 1.1620 & 1.1605 as targets.
Comment: the RSI is bullish and calls for further upside.
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Green Lines Represent Resistances |
Red Lines Represent Support Levels |
Light Blue is a Pivot Point |
Black represents the price when the report was produced
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Our pivot point is at 183.99.
Our preference: the upside prevails as long as 183.99 is support
Alternative scenario: below 183.99, expect 183.64 and 183.43.
Comment: the RSI is above 70. It could mean either that the price is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 183.96 and 183.73).
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Green Lines Represent Resistances |
Red Lines Represent Support Levels |
Light Blue is a Pivot Point |
Black represents the price when the report was produced
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Pivot: 1.3400
Our preference: long positions above 1.3400 with targets at 1.3450 & 1.3470 in extension.
Alternative scenario: below 1.3400 look for further downside with 1.3380 & 1.3360 as targets.
Comment: the RSI calls for a rebound.
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Green Lines Represent Resistances |
Red Lines Represent Support Levels |
Light Blue is a Pivot Point |
Black represents the price when the report was produced
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Our pivot point is at 211.87.
Our preference: the upside prevails as long as 211.87 is support
Alternative scenario: below 211.87, expect 211.46 and 211.22.
Comment: the RSI is above 70. It could mean either that the price is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 211.90 and 211.69).
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Green Lines Represent Resistances |
Red Lines Represent Support Levels |
Light Blue is a Pivot Point |
Black represents the price when the report was produced
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Pivot: 158.20
Our preference: short positions below 158.20 with targets at 157.35 & 157.05 in extension.
Alternative scenario: above 158.20 look for further upside with 158.45 & 158.70 as targets.
Comment: intraday technical indicators are mixed and call for caution.
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Green Lines Represent Resistances |
Red Lines Represent Support Levels |
Light Blue is a Pivot Point |
Black represents the price when the report was produced
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Pivot: 1.3920
Our preference: short positions below 1.3920 with targets at 1.3870 & 1.3850 in extension.
Alternative scenario: above 1.3920 look for further upside with 1.3940 & 1.3960 as targets.
Comment: as long as 1.3920 is resistance, expect a return to 1.3870.
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Green Lines Represent Resistances |
Red Lines Represent Support Levels |
Light Blue is a Pivot Point |
Black represents the price when the report was produced
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Crude Oil (WTI) (H6) Intraday: intraday support around 58.55.
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Pivot: 58.55
Our preference: long positions above 58.55 with targets at 59.60 & 60.10 in extension.
Alternative scenario: below 58.55 look for further downside with 57.90 & 57.50 as targets.
Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
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Green Lines Represent Resistances |
Red Lines Represent Support Levels |
Light Blue is a Pivot Point |
Black represents the price when the report was produced
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Brent (ICE) (H6) Intraday: bullish bias above 62.90.
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Pivot: 62.90
Our preference: long positions above 62.90 with targets at 64.00 & 64.40 in extension.
Alternative scenario: below 62.90 look for further downside with 62.25 & 61.85 as targets.
Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
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Green Lines Represent Resistances |
Red Lines Represent Support Levels |
Light Blue is a Pivot Point |
Black represents the price when the report was produced
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Dow Jones (CME) (H6) Intraday: target 49195.
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Pivot: 49820
Our preference: short positions below 49820 with targets at 49340 & 49195 in extension.
Alternative scenario: above 49820 look for further upside with 50050 & 50220 as targets.
Comment: technically the RSI is below its neutrality area at 50.
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Green Lines Represent Resistances |
Red Lines Represent Support Levels |
Light Blue is a Pivot Point |
Black represents the price when the report was produced
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Gold Intraday: further advance.
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Pivot: 4545
Our preference: long positions above 4545 with targets at 4630 & 4650 in extension.
Alternative scenario: below 4545 look for further downside with 4520 & 4500 as targets.
Comment: the RSI is bullish and calls for further upside.
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Green Lines Represent Resistances |
Red Lines Represent Support Levels |
Light Blue is a Pivot Point |
Black represents the price when the report was produced
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Disclaimer
TRADING CENTRAL is an independent third party research provider and the information provided should not be considered as trading advice. ICM Capital provides TRADING CENTRAL research to support clients in their trades and give them trading ideas, which should be independently evaluated. ICM Capital cannot be held liable for any information provided by TRADING CENTRAL.
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