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 1.1800 is resistance |
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| Our pivot point is at 1.1800. |
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| Our preference: |
| The downside prevails as long as 1.1800 is resistance |
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| Alternative scenario: |
| Above 1.1800, look for 1.1832 and 1.1851. |
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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 1.1787 and 1.1790). |
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| GBP/USD intraday : the downside prevails as long as 1.3518 is resistance |
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| Our pivot point is at 1.3518. |
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| Our preference: |
| The downside prevails as long as 1.3518 is resistance |
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| Alternative scenario: |
| Above 1.3518, look for 1.3547 and 1.3564. |
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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 1.3508 and 1.3510). |
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| USD/JPY intraday : our next up target stands at 156.85 |
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| Our pivot point is at 155.62. |
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| Our preference: |
| Our next up target stands at 156.85 |
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| Alternative scenario: |
| Below 155.62, expect 155.16 and 154.88. |
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| Comment: |
| The RSI is above its neutrality area at 50. The MACD is above its signal line and negative. The MACD must break above its zero level to trigger further gains. Moreover, the price is above its 20 and 50 period moving average (respectively at 155.90 and 155.97). |
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| Gold Intraday: key resistance at 4495. |
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| Pivot: |
| 4495 |
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| Our preference: |
| Short positions below 4495 with targets at 4440 & 4418 in extension. |
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| Alternative scenario: |
| Above 4495 look for further upside with 4525 & 4550 as targets. |
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| Comment: |
| The upward potential is likely to be limited by the resistance at 4495. |
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| Silver Intraday: bullish bias above 70.60. |
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| Pivot: |
| 70.60 |
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| Our preference: |
| Long positions above 70.60 with targets at 72.70 & 73.70 in extension. |
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| Alternative scenario: |
| Below 70.60 look for further downside with 69.80 & 68.80 as targets. |
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| Comment: |
| The RSI is above its neutrality area at 50%. |
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| Crude Oil (WTI) (G6) Intraday: intraday support around 58.10. |
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| Pivot: |
| 58.10 |
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| Our preference: |
| Long positions above 58.10 with targets at 58.95 & 59.40 in extension. |
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| Alternative scenario: |
| Below 58.10 look for further downside with 57.75 & 57.25 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: the upside prevails. |
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| Pivot: |
| 48850 |
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| Our preference: |
| Long positions above 48850 with targets at 49130 & 49290 in extension. |
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| Alternative scenario: |
| Below 48850 look for further downside with 48700 & 48535 as targets. |
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| Comment: |
| Investors have to remain cautious since these levels may trigger profit taking. |
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| S&P 500 (CME) (H6) Intraday: the upside prevails. |
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| Pivot: |
| 6952 |
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| Our preference: |
| Long positions above 6952 with targets at 6990 & 7020 in extension. |
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| Alternative scenario: |
| Below 6952 look for further downside with 6937 & 6912 as targets. |
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| Comment: |
| The next resistances are at 6990 and then at 7020. |
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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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