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 : Rebound or deeper decline ahead? |
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| Our pivot point is at 1.1638. |
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| Our preference: |
| The downside prevails as long as 1.1638 is resistance, with 1.1577 and 1.1564 as targets |
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| Alternative scenario: |
| Above 1.1638, look for 1.1660 and 1.1673. |
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| Comment: |
| With prices nearing our first target, a pullback may emerge, though a clean break below could accelerate the downside. |
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| GBP/USD intraday : Critical support closing in |
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| Our pivot point is at 1.3601. |
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| Our preference: |
| The downside prevails as long as 1.3601 is resistance, with 1.3518 and 1.3499 as targets |
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| Alternative scenario: |
| Above 1.3601, look for 1.3633 and 1.3652. |
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| Comment: |
| Prices are now within reach of our first target, a level that could trigger a pullback. On the flip side, a decisive break below it may extend the current decline. |
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| USD/JPY intraday : 160.39 expected |
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| Our pivot point is at 159.57. |
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| Our preference: |
| The upside prevails as long as 159.57 is support, with 160.39 and 160.59 as targets |
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| Alternative scenario: |
| Below 159.57, expect 159.23 and 159.03. |
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| Comment: |
| The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The price is above its 20 and 50 period moving average (respectively at 159.88 and 159.62). |
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| Gold intraday : the RSI is oversold |
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| Our pivot point is at 4,503. |
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| Our preference: |
| The downside prevails as long as 4,503 is resistance, with 4,395 and 4,365 as targets |
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| Alternative scenario: |
| Above 4,503, look for 4,553 and 4,583. |
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| Comment: |
| The RSI is below 30. It could either mean that the price is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. The price stands below its 20 and 50 period moving average (respectively at 4,547 and 4,576). |
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| Silver intraday : The downside prevails as long as 67.46 is resistance |
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| Our pivot point is at 67.46. |
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| Our preference: |
| The downside prevails as long as 67.46 is resistance, with 64.86 and 64.17 as targets |
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| Alternative scenario: |
| Above 67.46, look for 68.63 and 69.32. |
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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. The price stands below its 20 and 50 period moving average (respectively at 68.88 and 69.18). |
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| Crude Oil (WTI) (V6) intraday: the bias remains bullish. |
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| Pivot: |
| 82.00 |
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| Our preference: |
| Long positions above 82.00 with targets at 84.70 & 85.80 in extension. |
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| Alternative scenario: |
| Below 82.00 look for further downside with 80.60 & 79.60 as targets. |
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| Comment: |
| The RSI advocates for further advance. |
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| Dow Jones (CME) (U6) intraday: choppy. |
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| Pivot: |
| 53370 |
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| Our preference: |
| Long positions above 53370 with targets at 54080 & 54330 in extension. |
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| Alternative scenario: |
| Below 53370 look for further downside with 53200 & 53030 as targets. |
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| Comment: |
| The RSI is mixed to bullish. |
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| S&P 500 (CME) (U6) intraday: bullish bias above 7702. |
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| Pivot: |
| 7702 |
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| Our preference: |
| Long positions above 7702 with targets at 7782 & 7821 in extension. |
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| Alternative scenario: |
| Below 7702 look for further downside with 7671 & 7656 as targets. |
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| Comment: |
| The RSI calls for a new upleg. |
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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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