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 RSI is oversold |
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| Our pivot point is at 1.1545. |
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| Our preference: |
| The downside prevails as long as 1.1545 is resistance |
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| Alternative scenario: |
| Above 1.1545, look for 1.1568 and 1.1582. |
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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. Moreover, the price stands below its 20 and 50 period moving average (respectively at 1.1555 and 1.1594). |
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| GBP/USD intraday : the RSI is oversold |
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| Our pivot point is at 1.3370. |
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| Our preference: |
| The downside prevails as long as 1.3370 is resistance |
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| Alternative scenario: |
| Above 1.3370, look for 1.3405 and 1.3426. |
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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. Moreover, the price stands below its 20 and 50 period moving average (respectively at 1.3377 and 1.3412). |
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| USD/JPY intraday : as long as 160.04 is support look for 160.68 |
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| Our pivot point is at 160.04. |
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| Our preference: |
| As long as 160.04 is support look for 160.68 |
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| Alternative scenario: |
| Below 160.04, expect 159.84 and 159.72. |
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| Comment: |
| The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The price could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 160.18 and 160.05). |
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| Gold intraday: under pressure. |
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| Pivot: |
| 4400 |
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| Our preference: |
| Short positions below 4400 with targets at 4305 & 4230 in extension. |
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| Alternative scenario: |
| Above 4400 look for further upside with 4435 & 4475 as targets. |
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| Comment: |
| The upward potential is likely to be limited by the resistance at 4400. |
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| Silver intraday: under pressure. |
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| Pivot: |
| 69.70 |
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| Our preference: |
| Short positions below 69.70 with targets at 66.20 & 64.90 in extension. |
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| Alternative scenario: |
| Above 69.70 look for further upside with 70.80 & 71.90 as targets. |
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| Comment: |
| The RSI has broken down its 30 level. |
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| Crude Oil (WTI) (N6) intraday: watch 88.60. |
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| Pivot: |
| 92.00 |
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| Our preference: |
| Short positions below 92.00 with targets at 88.60 & 87.20 in extension. |
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| Alternative scenario: |
| Above 92.00 look for further upside with 93.55 & 94.35 as targets. |
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| Comment: |
| The RSI is below its neutrality area at 50% |
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| Dow Jones (CME) (M6) intraday: turning down. |
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| Pivot: |
| 51270 |
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| Our preference: |
| Short positions below 51270 with targets at 50560 & 50210 in extension. |
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| Alternative scenario: |
| Above 51270 look for further upside with 51575 & 51760 as targets. |
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| Comment: |
| A break below 50560 would trigger a drop towards 50210. |
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| S&P 500 (CME) (M6) intraday: turning down. |
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| Pivot: |
| 7470 |
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| Our preference: |
| Short positions below 7470 with targets at 7300 & 7250 in extension. |
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| Alternative scenario: |
| Above 7470 look for further upside with 7530 & 7575 as targets. |
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| Comment: |
| As long as 7470 is resistance, look for choppy price action with a bearish bias. |
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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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