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DAILY MARKET NEWSLETTER
September 16, 2024
 
   
 
Crude Oil (WTI)   Gold   GBP/USD   USD/JPY   EUR/USD   Dow Jones (CME)   Nasdaq 100 (CME)   GBP/JPY   EUR/AUD   USD/CAD   Nvidia   Tesla  
 
 
 
 
  Please note that due to market volatility, some of the key levels may have already been reached and scenarios played out.
 
 
     
 
Crude Oil (WTI)‎ (V4)‎ Intraday: expect 67.80.
 
Pivot:
69.60
 
Our preference:
Short positions below 69.60 with targets at 68.45 & 67.80 in extension.
 
Alternative scenario:
Above 69.60 look for further upside with 70.30 & 70.80 as targets.
 
Comment:
A break below 68.45 would trigger a drop towards 67.80.
 
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Gold Intraday: further advance.
 
Pivot:
2565.00
 
Our preference:
Long positions above 2565.00 with targets at 2600.00 & 2615.00 in extension.
 
Alternative scenario:
Below 2565.00 look for further downside with 2554.00 & 2544.00 as targets.
 
Comment:
The RSI is bullish and calls for further upside.
 
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GBP/USD Intraday: continuation of the rebound.
 
Pivot:
1.3110
 
Our preference:
Long positions above 1.3110 with targets at 1.3185 & 1.3210 in extension.
 
Alternative scenario:
Below 1.3110 look for further downside with 1.3080 & 1.3055 as targets.
 
Comment:
The RSI calls for a new upleg.
 
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USD/JPY Intraday: the downside prevails.
 
Pivot:
141.00
 
Our preference:
Short positions below 141.00 with targets at 139.70 & 139.40 in extension.
 
Alternative scenario:
Above 141.00 look for further upside with 141.40 & 141.75 as targets.
 
Comment:
The immediate trend remains down and the momentum is strong.
 
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EUR/USD Intraday: further advance.
 
Pivot:
1.1070
 
Our preference:
Long positions above 1.1070 with targets at 1.1120 & 1.1140 in extension.
 
Alternative scenario:
Below 1.1070 look for further downside with 1.1055 & 1.1040 as targets.
 
Comment:
The RSI is bullish and calls for further advance.
 
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Dow Jones (CME)‎ (U4)‎ Intraday: further advance.
 
Pivot:
41200.00
 
Our preference:
Long positions above 41200.00 with targets at 41630.00 & 41850.00 in extension.
 
Alternative scenario:
Below 41200.00 look for further downside with 41030.00 & 40870.00 as targets.
 
Comment:
The RSI lacks downward momentum.
 
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Nasdaq 100 (CME)‎ (U4)‎ Intraday: further upside.
 
Pivot:
19400.00
 
Our preference:
Long positions above 19400.00 with targets at 19600.00 & 19700.00 in extension.
 
Alternative scenario:
Below 19400.00 look for further downside with 19320.00 & 19230.00 as targets.
 
Comment:
The RSI lacks downward momentum.
 
Analyst Views Chart
 
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GBP/JPY intraday: the downside prevails as long as 185.58 is resistance
 
Our pivot point is at 185.58.
 
Our preference:
The downside prevails as long as 185.58 is resistance.
 
Alternative scenario:
The upside breakout of 185.58, would call for 186.71 and 187.39.
 
Comment:
The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 184.82 and 184.95).
 
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EUR/AUD intraday: the upside prevails as long as 1.6478 is support
 
Our pivot point stands at 1.6478.
 
Our preference:
The upside prevails as long as 1.6478 is support.
 
Alternative scenario:
Below 1.6478, expect 1.6417 and 1.6381.
 
Comment:
The RSI is above 50. 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 1.6522 and 1.6513).
 
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USD/CAD Intraday: turning down.
 
Pivot:
1.3600
 
Our preference:
Short positions below 1.3600 with targets at 1.3550 & 1.3535 in extension.
 
Alternative scenario:
Above 1.3600 look for further upside with 1.3620 & 1.3635 as targets.
 
Comment:
The RSI calls for a new downleg.
 
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Nvidia Intraday: intraday support around 116.00.
 
Pivot:
116.00
 
Our preference:
Long positions above 116.00 with targets at 123.50 & 126.60 in extension.
 
Alternative scenario:
Below 116.00 look for further downside with 112.30 & 107.90 as targets.
 
Comment:
The next resistances are at 123.50 and then at 126.60.
 
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Tesla Intraday: further advance.
 
Pivot:
222.00
 
Our preference:
Long positions above 222.00 with targets at 234.00 & 240.00 in extension.
 
Alternative scenario:
Below 222.00 look for further downside with 218.00 & 210.60 as targets.
 
Comment:
The next resistances are at 234.00 and then at 240.00.
 
Analyst Views Chart
 
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