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Friday 5 January 2024

Daily Technical Strategies

USD/JPY   EUR/USD   GBP/USD   AUD/USD   USD/CAD   Gold   Crude Oil (WTI)   Dow Jones (CME)   Dax (Eurex)   Bitcoin / USD  
 
 
 
USD/JPY Intraday: further advance.
 
Pivot:
144.30
 
Our preference:
Long positions above 144.30 with targets at 145.40 & 145.80 in extension.
 
Alternative scenario:
Below 144.30 look for further downside with 143.75 & 143.30 as targets.
 
Comment:
The RSI shows upside momentum.
 
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EUR/USD Intraday: under pressure.
 
Pivot:
1.0955
 
Our preference:
Short positions below 1.0955 with targets at 1.0910 & 1.0890 in extension.
 
Alternative scenario:
Above 1.0955 look for further upside with 1.0970 & 1.0990 as targets.
 
Comment:
The RSI shows downside momentum.
 
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GBP/USD Intraday: under pressure.
 
Pivot:
1.2700
 
Our preference:
Short positions below 1.2700 with targets at 1.2650 & 1.2635 in extension.
 
Alternative scenario:
Above 1.2700 look for further upside with 1.2725 & 1.2750 as targets.
 
Comment:
The RSI shows downside momentum.
 
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AUD/USD Intraday: under pressure.
 
Pivot:
0.6725
 
Our preference:
Short positions below 0.6725 with targets at 0.6675 & 0.6660 in extension.
 
Alternative scenario:
Above 0.6725 look for further upside with 0.6745 & 0.6760 as targets.
 
Comment:
The RSI is mixed to bearish.
 
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USD/CAD Intraday: further advance.
 
Pivot:
1.3335
 
Our preference:
Long positions above 1.3335 with targets at 1.3390 & 1.3410 in extension.
 
Alternative scenario:
Below 1.3335 look for further downside with 1.3315 & 1.3300 as targets.
 
Comment:
The RSI shows upside momentum.
 
Analyst Views Chart
 
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Gold Intraday: intraday support around 2036.00.
 
Pivot:
2036.00
 
Our preference:
Long positions above 2036.00 with targets at 2049.00 & 2056.00 in extension.
 
Alternative scenario:
Below 2036.00 look for further downside with 2031.00 & 2026.00 as targets.
 
Comment:
A support base at 2036.00 has formed and has allowed for a temporary stabilisation.
 
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Crude Oil (WTI)‎ (G4)‎ Intraday: continuation of the rebound.
 
Pivot:
71.90
 
Our preference:
Long positions above 71.90 with targets at 73.20 & 74.00 in extension.
 
Alternative scenario:
Below 71.90 look for further downside with 71.10 & 70.35 as targets.
 
Comment:
The RSI is mixed to bullish.
 
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Dow Jones (CME)‎ (H4)‎ Intraday: the downside prevails.
 
Pivot:
37840.00
 
Our preference:
Short positions below 37840.00 with targets at 37660.00 & 37580.00 in extension.
 
Alternative scenario:
Above 37840.00 look for further upside with 37970.00 & 38070.00 as targets.
 
Comment:
The RSI is below its neutrality area at 50%
 
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Dax (Eurex)‎ Intraday: key resistance at 16790.00.
 
Pivot:
16790.00
 
Our preference:
Short positions below 16790.00 with targets at 16635.00 & 16579.00 in extension.
 
Alternative scenario:
Above 16790.00 look for further upside with 16870.00 & 16945.00 as targets.
 
Comment:
As long as the resistance at 16790.00 is not surpassed, the risk of the break below 16635.00 remains high.
 
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Bitcoin / Dollar intraday: eye 42430
 
Our pivot point is at 44230.
 
Our preference:
Eye 42430.
 
Alternative scenario:
Above 44230, look for 44910 and 45310.
 
Comment:
The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under its 20 period moving average (43950) but above its 50 period moving average (43665).
 
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Web TV from Trading Central
 
 
TC Video
 
WTI Crude Oil Futures: Huge rise of gasoline inventories
 
The U.S. Energy Department reported an increase of 10.9 million barrels of gasoline inventories (vs a reduction of 215,0000 barrels expected). Besides, crude oil stockpiles dropped by 5.5 million barrels (vs a withdrawal of 3.73 million barrels estimated.)
 
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