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 overbought |
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| Our pivot point is at 1.1788. |
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| Our preference: |
| The upside prevails as long as 1.1788 is support |
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| Alternative scenario: |
| Below 1.1788, expect 1.1756 and 1.1737. |
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| Comment: |
| The RSI is above 70. It could mean either that the price is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). 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 1.1769 and 1.1755). |
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| GBP/USD intraday : the RSI is overbought |
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| Our pivot point is at 1.3603. |
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| Our preference: |
| The upside prevails as long as 1.3603 is support |
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| Alternative scenario: |
| Below 1.3603, expect 1.3577 and 1.3561. |
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| Comment: |
| The RSI is above 70. It could mean either that the price is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). 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 1.3572 and 1.3528). |
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| USD/JPY intraday : the RSI is oversold |
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| Our pivot point is at 156.21. |
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| Our preference: |
| The downside prevails as long as 156.21 is resistance |
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| Alternative scenario: |
| Above 156.21, look for 156.58 and 156.80. |
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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 157.32 and 158.01). |
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| Gold Intraday: intraday support around 4938. |
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| Pivot: |
| 4938 |
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| Our preference: |
| Long positions above 4938 with targets at 5000 & 5040 in extension. |
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| Alternative scenario: |
| Below 4938 look for further downside with 4900 & 4838 as targets. |
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| Comment: |
| The next resistances are at 5000 and then at 5040. |
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| Silver Intraday: further upside. |
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| Pivot: |
| 100.80 |
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| Our preference: |
| Long positions above 100.80 with targets at 104.15 & 105.90 in extension. |
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| Alternative scenario: |
| Below 100.80 look for further downside with 99.10 & 97.50 as targets. |
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| Comment: |
| The next resistances are at 104.15 and then at 105.90. |
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| Crude Oil (WTI) (H6) Intraday: bullish bias above 60.80. |
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| Pivot: |
| 60.80 |
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| Our preference: |
| Long positions above 60.80 with targets at 61.80 & 62.20 in extension. |
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| Alternative scenario: |
| Below 60.80 look for further downside with 60.50 & 59.95 as targets. |
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| Comment: |
| The next resistances are at 61.80 and then at 62.20. |
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| Dow Jones (CME) (H6) Intraday: expect 49050. |
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| Pivot: |
| 49380 |
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| Our preference: |
| Short positions below 49380 with targets at 49050 & 48800 in extension. |
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| Alternative scenario: |
| Above 49380 look for further upside with 49490 & 49620 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: choppy. |
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| Pivot: |
| 6925 |
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| Our preference: |
| Long positions above 6925 with targets at 6968 & 6995 in extension. |
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| Alternative scenario: |
| Below 6925 look for further downside with 6907 & 6895 as targets. |
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| Comment: |
| The RSI is below its neutrality area at 50% but reversing up. |
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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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