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Thursday 4 January 2024

Daily Technical Trading 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: the upside prevails.
 
Pivot:
142.75
 
Our preference:
Long positions above 142.75 with targets at 144.15 & 144.50 in extension.
 
Alternative scenario:
Below 142.75 look for further downside with 142.20 & 141.80 as targets.
 
Comment:
The RSI shows upside momentum.
 
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EUR/USD Intraday: continuation of the rebound.
 
Pivot:
1.0900
 
Our preference:
Long positions above 1.0900 with targets at 1.0940 & 1.0965 in extension.
 
Alternative scenario:
Below 1.0900 look for further downside with 1.0880 & 1.0865 as targets.
 
Comment:
The RSI shows upside momentum.
 
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GBP/USD Intraday: continuation of the rebound.
 
Pivot:
1.2635
 
Our preference:
Long positions above 1.2635 with targets at 1.2690 & 1.2720 in extension.
 
Alternative scenario:
Below 1.2635 look for further downside with 1.2610 & 1.2590 as targets.
 
Comment:
The RSI advocates for further upside.
 
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AUD/USD Intraday: the upside prevails.
 
Pivot:
0.6710
 
Our preference:
Long positions above 0.6710 with targets at 0.6755 & 0.6770 in extension.
 
Alternative scenario:
Below 0.6710 look for further downside with 0.6690 & 0.6675 as targets.
 
Comment:
The RSI shows upside momentum.
 
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USD/CAD Intraday: under pressure.
 
Pivot:
1.3365
 
Our preference:
Short positions below 1.3365 with targets at 1.3315 & 1.3300 in extension.
 
Alternative scenario:
Above 1.3365 look for further upside with 1.3385 & 1.3400 as targets.
 
Comment:
The RSI shows downside momentum.
 
Analyst Views Chart
 
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Gold Intraday: caution.
 
Pivot:
2048.00
 
Our preference:
Short positions below 2048.00 with targets at 2036.00 & 2031.00 in extension.
 
Alternative scenario:
Above 2048.00 look for further upside with 2056.00 & 2065.00 as targets.
 
Comment:
Intraday technical indicators are mixed and call for caution.
 
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Crude Oil (WTI)‎ (G4)‎ Intraday: intraday support around 72.15.
 
Pivot:
72.15
 
Our preference:
Long positions above 72.15 with targets at 73.70 & 74.40 in extension.
 
Alternative scenario:
Below 72.15 look for further downside with 71.25 & 70.45 as targets.
 
Comment:
The next resistances are at 73.70 and then at 74.40.
 
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Dow Jones (CME)‎ (H4)‎ Intraday: under pressure.
 
Pivot:
37880.00
 
Our preference:
Short positions below 37880.00 with targets at 37590.00 & 37450.00 in extension.
 
Alternative scenario:
Above 37880.00 look for further upside with 38110.00 & 38200.00 as targets.
 
Comment:
The RSI is below its neutrality area at 50%
 
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Dax (Eurex)‎ Intraday: the downside prevails.
 
Pivot:
16749.00
 
Our preference:
Short positions below 16749.00 with targets at 16610.00 & 16540.00 in extension.
 
Alternative scenario:
Above 16749.00 look for further upside with 16815.00 & 16920.00 as targets.
 
Comment:
The RSI is below its neutrality area at 50%
 
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Bitcoin / Dollar intraday: rebound
 
Our pivot point is at 42610.
 
Our preference:
Rebound.
 
Alternative scenario:
Below 42610, expect 41940 and 41550.
 
Comment:
The RSI is above its neutrality area at 50. The MACD is negative and above its signal line. The MACD must break above its zero level to trigger further gains. Moreover, the price is trading above its 20 period moving average (42930) but under its 50 period moving average (43454).
 
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Web TV from Trading Central
 
 
TC Video
 
WTI Crude Oil Futures: Awaiting API stockpiles
 
Later today, the American Petroleum Institute is expected to report the U.S. crude inventories for the week ending December 29.
 
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