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.
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DAILY MARKET NEWSLETTER
April 18, 2024
 
   
 
 
  Please note that due to market volatility, some of the key levels may have already been reached and scenarios played out.
 
 
     
 
AUD/USD   EUR/USD   GBP/USD   USD/JPY   USD/CAD   Gold   Crude Oil (WTI)   Dow Jones (CME)   Dax (Eurex)   Bitcoin / USD  
 
 
 
AUD/USD Intraday: the bias remains bullish.
 
Pivot:
0.6425
 
Our preference:
Long positions above 0.6425 with targets at 0.6475 & 0.6495 in extension.
 
Alternative scenario:
Below 0.6425 look for further downside with 0.6410 & 0.6395 as targets.
 
Comment:
The RSI is mixed to bullish.
 
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EUR/USD Intraday: the upside prevails.
 
Pivot:
1.0660
 
Our preference:
Long positions above 1.0660 with targets at 1.0685 & 1.0700 in extension.
 
Alternative scenario:
Below 1.0660 look for further downside with 1.0645 & 1.0625 as targets.
 
Comment:
The RSI shows upside momentum.
 
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GBP/USD Intraday: the upside prevails.
 
Pivot:
1.2440
 
Our preference:
Long positions above 1.2440 with targets at 1.2480 & 1.2500 in extension.
 
Alternative scenario:
Below 1.2440 look for further downside with 1.2420 & 1.2400 as targets.
 
Comment:
The RSI is mixed to bullish.
 
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USD/JPY Intraday: key resistance at 154.55.
 
Pivot:
154.55
 
Our preference:
Short positions below 154.55 with targets at 153.85 & 153.55 in extension.
 
Alternative scenario:
Above 154.55 look for further upside with 154.75 & 155.00 as targets.
 
Comment:
As long as 154.55 is resistance, look for choppy price action with a bearish bias.
 
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USD/CAD Intraday: under pressure.
 
Pivot:
1.3785
 
Our preference:
Short positions below 1.3785 with targets at 1.3725 & 1.3700 in extension.
 
Alternative scenario:
Above 1.3785 look for further upside with 1.3805 & 1.3835 as targets.
 
Comment:
The RSI is mixed to bearish.
 
Analyst Views Chart
 
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Gold Intraday: choppy.
 
Pivot:
2382.00
 
Our preference:
Short positions below 2382.00 with targets at 2364.00 & 2354.00 in extension.
 
Alternative scenario:
Above 2382.00 look for further upside with 2398.00 & 2409.00 as targets.
 
Comment:
As long as 2382.00 is resistance, look for choppy price action with a bearish bias.
 
Analyst Views Chart
 
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Crude Oil (WTI)‎ (K4)‎ Intraday: under pressure.
 
Pivot:
84.00
 
Our preference:
Short positions below 84.00 with targets at 81.90 & 81.00 in extension.
 
Alternative scenario:
Above 84.00 look for further upside with 84.80 & 85.40 as targets.
 
Comment:
The RSI calls for a new downleg.
 
Analyst Views Chart
 
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Dow Jones (CME)‎ (M4)‎ Intraday: key resistance at 38130.00.
 
Pivot:
38130.00
 
Our preference:
Short positions below 38130.00 with targets at 37960.00 & 37850.00 in extension.
 
Alternative scenario:
Above 38130.00 look for further upside with 38260.00 & 38420.00 as targets.
 
Comment:
As long as the resistance at 38130.00 is not surpassed, the risk of the break below 37960.00 remains high.
 
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Dax (Eurex)‎ (M4)‎ Intraday: intraday support around 17951.00.
 
Pivot:
17951.00
 
Our preference:
Long positions above 17951.00 with targets at 18127.00 & 18180.00 in extension.
 
Alternative scenario:
Below 17951.00 look for further downside with 17886.00 & 17830.00 as targets.
 
Comment:
A support base at 17951.00 has formed and has allowed for a temporary stabilisation.
 
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Bitcoin / Dollar intraday: technical rebound towards 63180 before a new drop
 
Our pivot point is at 63180.
 
Our preference:
Technical rebound towards 63180 before a new drop.
 
Alternative scenario:
Above 63180, look for 64650 and 65530.
 
Comment:
The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above its 20 period moving average (61475) but under its 50 period moving average (62106).
 
Analyst Views Chart
 
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Web TV from Trading Central
 
 
 
US Market Wrap April 18
 
On Wednesday, U.S. indexes in general still lacked upward momentum, while earnings drove individual stock performance.
 
WATCH NOW
 
 
     
 
 
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