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 : Pivot threshold in sight |
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| Our pivot point is at 1.1173. |
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| Our preference: |
| The downside prevails as long as 1.1173 is resistance, with 1.1116 and 1.1104 as targets |
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| Alternative scenario: |
| Above 1.1173, look for 1.1193 and 1.1206. |
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| Comment: |
| Price is almost testing our pivot level; this may be the last chance for a reversal. |
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| GBP/USD intraday : Target 1.3346 |
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| Our pivot point is at 1.3419. |
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| Our preference: |
| In spite of the current rebound, our pivot threshold at 1.3419 has not been hit and our target remains 1.3328 |
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| Alternative scenario: |
| Above 1.3419, look for 1.3448 and 1.3465. |
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| Comment: |
| The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The price stands below its 20 and 50 period moving average (respectively at 1.3404 and 1.3396). |
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| USD/JPY intraday : Aim at 157.06 |
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| Our pivot point is at 157.90. |
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| Our preference: |
| The downside prevails as long as 157.90 is resistance, with 157.06 and 156.89 as targets |
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| Alternative scenario: |
| Above 157.90, look for 158.18 and 158.35. |
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| Comment: |
| The price continues to fluctuate between its first support level and resistance level. |
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| Gold intraday : Key support level approaches |
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| Our pivot point is at 3,947. |
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| Our preference: |
| The downside prevails as long as 3,947 is resistance, with 3,870 and 3,852 as targets |
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| Alternative scenario: |
| Above 3,947, look for 3,978 and 3,996. |
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| Comment: |
| The approach toward our first target represents a key level to monitor, it may trigger pressure for a pullback, though a firm close below this threshold could lead prices lower. |
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| Silver intraday : Watch 48.35 |
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| Our pivot point is at 50.28. |
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| Our preference: |
| The downside prevails as long as 50.28 is resistance, with 48.35 and 47.90 as targets |
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| Alternative scenario: |
| Above 50.28, look for 51.05 and 51.51. |
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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 price stands below its 20 and 50 period moving average (respectively at 49.66 and 50.80). |
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| Crude Oil (WTI) (Z6) intraday: the bias remains bullish. |
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| Pivot: |
| 102.10 |
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| Our preference: |
| Long positions above 102.10 with targets at 105.00 & 106.00 in extension. |
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| Alternative scenario: |
| Below 102.10 look for further downside with 100.25 & 99.40 as targets. |
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| Comment: |
| The RSI is mixed and calls for caution. |
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| Dow Jones (CME) (Z6) intraday: under pressure. |
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| Pivot: |
| 52642 |
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| Our preference: |
| Short positions below 52642 with targets at 51000 & 50050 in extension. |
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| Alternative scenario: |
| Above 52642 look for further upside with 53150 & 53600 as targets. |
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| Comment: |
| The RSI is mixed to bearish. |
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| S&P 500 (CME) (Z6) intraday: the downside prevails. |
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| Pivot: |
| 7700 |
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| Our preference: |
| Short positions below 7700 with targets at 7500 & 7400 in extension. |
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| Alternative scenario: |
| Above 7700 look for further upside with 7750 & 7820 as targets. |
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| Comment: |
| The RSI is mixed to bearish. |
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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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