Here are today's directional views from the global research desks of Ventura Prime FX! These are starting points for your own research to identify opportunities that make sense for you.
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| DAILY NEWS BRIEF - MARKET OUTLOOK |
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| Here are today's directional views from the global research desks of Ventura Prime FX! These are starting points for your own research to identify opportunities that make sense for you. |
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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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| EUR/USD intraday : the downside prevails as long as 1.1628 is resistance |
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| Our pivot point is at 1.1628. |
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| Our preference: |
| The downside prevails as long as 1.1628 is resistance |
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| Alternative scenario: |
| Above 1.1628, look for 1.1660 and 1.1678. |
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| Comment: |
| The RSI is below its neutrality area at 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 1.1606 and 1.1608). |
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| GBP/USD intraday : the downside prevails as long as 1.3407 is resistance |
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| Our pivot point is at 1.3407. |
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| Our preference: |
| The downside prevails as long as 1.3407 is resistance |
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| Alternative scenario: |
| Above 1.3407, look for 1.3435 and 1.3452. |
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| Comment: |
| The RSI is below its neutrality area at 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 1.3390 and 1.3387). |
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| USD/JPY intraday : rebound towards 158.72 |
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| Our pivot point is at 157.77. |
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| Our preference: |
| Rebound towards 158.72 |
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| Alternative scenario: |
| Below 157.77, expect 157.43 and 157.22. |
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| Comment: |
| The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 158.10 and 158.27). |
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| Gold Intraday: choppy. |
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| Pivot: |
| 4600 |
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| Our preference: |
| Short positions below 4600 with targets at 4560 & 4540 in extension. |
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| Alternative scenario: |
| Above 4600 look for further upside with 4620 & 4640 as targets. |
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| Comment: |
| The RSI is mixed. |
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| Silver Intraday: key resistance at 90.00. |
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| Pivot: |
| 90.00 |
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| Our preference: |
| Short positions below 90.00 with targets at 86.30 & 84.50 in extension. |
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| Alternative scenario: |
| Above 90.00 look for further upside with 91.50 & 93.70 as targets. |
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| Comment: |
| The upward potential is likely to be limited by the resistance at 90.00. |
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| Crude Oil (WTI) (H6) Intraday: intraday support around 59.30. |
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| Pivot: |
| 59.30 |
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| Our preference: |
| Long positions above 59.30 with targets at 60.15 & 60.50 in extension. |
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| Alternative scenario: |
| Below 59.30 look for further downside with 58.80 & 58.30 as targets. |
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| Comment: |
| The RSI is below its neutrality area at 50% but reversing up. |
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| Dow Jones (CME) (H6) Intraday: turning down. |
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| Pivot: |
| 49680 |
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| Our preference: |
| Short positions below 49680 with targets at 49420 & 49290 in extension. |
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| Alternative scenario: |
| Above 49680 look for further upside with 49800 & 49900 as targets. |
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| Comment: |
| The RSI is below its neutrality area at 50% |
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| S&P 500 (CME) (H6) Intraday: intraday support around 6974. |
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| Pivot: |
| 6974 |
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| Our preference: |
| Long positions above 6974 with targets at 7017 & 7034 in extension. |
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| Alternative scenario: |
| Below 6974 look for further downside with 6948 & 6923 as targets. |
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| Comment: |
| A support base at 6974 has formed and has allowed for a temporary stabilisation. |
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TRADING FOREIGN EXCHANGE ON MARGIN CARRIES A HIGH LEVEL OF RISK AND MAY NOT BE SUITABLE FOR ALL INVESTORS.
THE POSSIBILITY EXISTS THAT YOU COULD SUSTAIN A LOSS OF SOME OR ALL OF YOUR INITIAL INVESTMENT AND THEREFORE YOU SHOULD NOT INVEST MONEY THAT YOU CANNOT AFFORD TO LOSE.
THE HIGH DEGREE OF LEVERAGE CAN WORK AGAINST YOU AS WELL AS FOR YOU. BEFORE DECIDING TO TRADE FOREIGN EXCHANGE OR CFD’S YOU SHOULD CAREFULLY CONSIDER YOUR INVESTMENT OBJECTIVES, LEVEL OF EXPERIENCE, AND RISK APPETITE.
YOU SHOULD BE AWARE OF ALL THE RISKS ASSOCIATED WITH FOREIGN EXCHANGE AND OTHER CFD TRADING, AND SEEK ADVICE FROM AN INDEPENDENT FINANCIAL ADVISOR IF YOU HAVE ANY DOUBTS. VPFX RECOMMENDS READING THE RISK DISCLOSURE SECTION OF THE PROSPECTUS FOR ANY FINANCIAL PRODUCT MENTIONED.
VPFX is the trading name for Ventura Prime FX Limited with registration number LL16224 registered in Labuan F.T., Malaysia.
Ventura Prime FX Limited is authorised and regulated by the Labuan Financial Services Authority (LFSA). Registered Address:Kensington Gardens, No U1317, Lot 7616, Jalan Jumidar Buyong, 87000 Labuan Federal Territory, Malaysia
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