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Monday 8 January 2024

Daily Technical Trading Strategies


GBP/USD   EUR/USD   USD/JPY   AUD/USD   USD/CAD   Gold   Crude Oil (WTI)   Dow Jones (CME)   Dax (Eurex)   Bitcoin / USD  
 
 
 
GBP/USD Intraday: caution.
 
Pivot:
1.2690
 
Our preference:
Long positions above 1.2690 with targets at 1.2740 & 1.2770 in extension.
 
Alternative scenario:
Below 1.2690 look for further downside with 1.2665 & 1.2645 as targets.
 
Comment:
Intraday technical indicators are mixed and call for caution.
 
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EUR/USD Intraday: the upside prevails.
 
Pivot:
1.0920
 
Our preference:
Long positions above 1.0920 with targets at 1.0960 & 1.0980 in extension.
 
Alternative scenario:
Below 1.0920 look for further downside with 1.0900 & 1.0880 as targets.
 
Comment:
The RSI shows upside momentum.
 
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USD/JPY Intraday: under pressure.
 
Pivot:
145.10
 
Our preference:
Short positions below 145.10 with targets at 143.80 & 143.35 in extension.
 
Alternative scenario:
Above 145.10 look for further upside with 145.55 & 146.00 as targets.
 
Comment:
The RSI shows downside momentum.
 
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AUD/USD Intraday: under pressure.
 
Pivot:
0.6740
 
Our preference:
Short positions below 0.6740 with targets at 0.6680 & 0.6660 in extension.
 
Alternative scenario:
Above 0.6740 look for further upside with 0.6760 & 0.6780 as targets.
 
Comment:
The RSI is mixed to bearish.
 
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USD/CAD Intraday: the bias remains bullish.
 
Pivot:
1.3340
 
Our preference:
Long positions above 1.3340 with targets at 1.3380 & 1.3400 in extension.
 
Alternative scenario:
Below 1.3340 look for further downside with 1.3320 & 1.3300 as targets.
 
Comment:
The RSI shows upside momentum.
 
Analyst Views Chart
 
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Gold Intraday: turning down.
 
Pivot:
2040.00
 
Our preference:
Short positions below 2040.00 with targets at 2024.00 & 2015.00 in extension.
 
Alternative scenario:
Above 2040.00 look for further upside with 2050.00 & 2056.00 as targets.
 
Comment:
The RSI is bearish and calls for further downside.
 
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Crude Oil (WTI)‎ (G4)‎ Intraday: the downside prevails.
 
Pivot:
73.50
 
Our preference:
Short positions below 73.50 with targets at 71.90 & 71.10 in extension.
 
Alternative scenario:
Above 73.50 look for further upside with 74.20 & 74.75 as targets.
 
Comment:
The RSI has broken down its 30 level.
 
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Dow Jones (CME)‎ (H4)‎ Intraday: choppy.
 
Pivot:
37740.00
 
Our preference:
Short positions below 37740.00 with targets at 37500.00 & 37390.00 in extension.
 
Alternative scenario:
Above 37740.00 look for further upside with 37840.00 & 37970.00 as targets.
 
Comment:
As long as 37740.00 is resistance, look for choppy price action with a bearish bias.
 
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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 16649.00 & 16584.00 in extension.
 
Alternative scenario:
Above 16790.00 look for further upside with 16870.00 & 16945.00 as targets.
 
Comment:
As long as 16790.00 is resistance, look for choppy price action with a bearish bias.
 
Analyst Views Chart
 
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Bitcoin / Dollar intraday: the downside prevails as long as 43970 is resistance
 
Our pivot point stands at 43970.
 
Our preference:
The downside prevails as long as 43970 is resistance.
 
Alternative scenario:
Above 43970, look for 44640 and 45050.
 
Comment:
The RSI is below 50. 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 43938 and 44024).
 
Analyst Views Chart
 
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