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 1.1436. |
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| Our preference: |
| The downside prevails as long as 1.1436 is resistance |
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| Alternative scenario: |
| Above 1.1436, look for 1.1459 and 1.1473. |
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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 1.1449 and 1.1478). |
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| GBP/USD intraday : rebound towards 1.3295 |
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| Our pivot point is at 1.3189. |
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| Our preference: |
| Rebound towards 1.3295 |
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| Alternative scenario: |
| Below 1.3189, expect 1.3150 and 1.3127. |
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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 above its signal line and negative. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 1.3248 and 1.3294). |
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| USD/JPY intraday : the upside prevails as long as 159.21 is support |
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| Our pivot point is at 159.21. |
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| Our preference: |
| The upside prevails as long as 159.21 is support |
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| Alternative scenario: |
| Below 159.21, expect 158.59 and 158.21. |
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| Comment: |
| The RSI is above its neutrality area at 50. 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 159.49 and 159.41). |
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| Gold Intraday: the downside prevails. |
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| Pivot: |
| 5068 |
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| Our preference: |
| Short positions below 5068 with targets at 4995 & 4960 in extension. |
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| Alternative scenario: |
| Above 5068 look for further upside with 5125 & 5155 as targets. |
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| Comment: |
| As long as 5068 is resistance, likely decline to 4995. |
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| Silver Intraday: under pressure. |
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| Pivot: |
| 82.00 |
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| Our preference: |
| Short positions below 82.00 with targets at 79.60 & 77.90 in extension. |
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| Alternative scenario: |
| Above 82.00 look for further upside with 83.00 & 84.40 as targets. |
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| Comment: |
| The RSI is below its neutrality area at 50% |
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| Crude Oil (WTI) (J6) Intraday: further upside. |
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| Pivot: |
| 95.00 |
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| Our preference: |
| Long positions above 95.00 with targets at 100.50 & 103.50 in extension. |
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| Alternative scenario: |
| Below 95.00 look for further downside with 92.75 & 90.30 as targets. |
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| Comment: |
| The next resistances are at 100.50 and then at 103.50. |
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| Dow Jones (CME) (H6) Intraday: the downside prevails. |
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| Pivot: |
| 46880 |
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| Our preference: |
| Short positions below 46880 with targets at 46460 & 46160 in extension. |
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| Alternative scenario: |
| Above 46880 look for further upside with 47030 & 47240 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: watch 6600. |
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| Pivot: |
| 6675 |
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| Our preference: |
| Short positions below 6675 with targets at 6620 & 6600 in extension. |
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| Alternative scenario: |
| Above 6675 look for further upside with 6710 & 6735 as targets. |
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| Comment: |
| A break below 6620 would trigger a drop towards 6600. |
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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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