Check out today's market views from the Global Research Department of the Trading Center. Explore new trading methods and opportunities from popular trading products.
EUR/USD, Spot Gold, GBP/USD, EUR/JPY, EUR/GBP, USD/CHF, German DAX Index Futures (Eurex), Brent Crude Oil (ICE), UK FTSE 100 Index Futures
Friendly reminder: Due to market volatility, prices may have surpassed key levels, rendering the strategy invalid.
EUR/USD Intra-day: Short-term support around 1.0830.
Pivot point:
1.0830
Trading strategy:
Above 1.0830, bullish targets are 1.0860 and 1.0875.
Alternative strategy:
Below 1.0830, bearish targets are 1.0815 and 1.0800.
Technical commentary:
The RSI technical indicator lacks downward momentum.
Spot Gold Intra-day: Rising.
Pivot point:
2332.00
Trading strategy:
Above 2332.00, bullish targets are 2355.00 and 2370.00.
Alternative strategy:
Below 2332.00, bearish targets are 2325.00 and 2318.00.
Technical commentary:
Subsequent resistance levels are 2355.00 and 2370.00.
GBP/USD Intra-day: Bullish above 1.2710.
Pivot point:
1.2710
Trading strategy:
Above 1.2710, bullish targets are 1.2760 and 1.2780.
Alternative strategy:
Below 1.2710, bearish targets are 1.2695 and 1.2680.
Technical commentary:
The RSI technical indicator lacks downward momentum.
EUR/JPY Intra-day: Gradual decline, targeting 168.96 if 170.71 caps the upside.
Pivot point: 170.71
Trading strategy:
Gradual decline, targeting 168.96 if 170.71 caps the upside.
Alternative strategy:
A break above 170.71 will lead to further gains, targeting 171.36 and 171.75.
Technical commentary:
The RSI is below 50. The MACD is bullish but below its signal line. Additionally, the price is below its 20-day moving average (170.27) but above its 50-day moving average (170.05).
EUR/GBP Intra-day: Bearish below 0.8526.
Pivot point: 0.8526
Trading strategy:
Bearish below 0.8526.
Alternative strategy:
Above 0.8526, targets are 0.8537 and 0.8544.
Technical commentary:
The RSI is below the neutral zone of 50. The MACD is below its signal line and bearish. Additionally, the price is below its 20- and 50-day moving averages (0.8517 and 0.8518, respectively).
USD/CHF Intra-day: Key short-term resistance at 0.9160.
Pivot point:
0.9160
Trading strategy:
Below 0.9160, bearish targets are 0.9125 and 0.9110.
Alternative strategy:
Above 0.9160, bullish targets are 0.9175 and 0.9190.
Technical commentary:
As long as the resistance at 0.9160 persists, there is a bearish trend in price movements.
German DAX Index Futures (Eurex) (M4) Intra-day: No significant trend.
Pivot point:
18785.00
Trading strategy:
Below 18785.00, bearish targets are 18690.00 and 18639.00.
Alternative strategy:
Above 18785.00, bullish targets are 18833.00 and 18887.00.
Technical commentary:
As long as the resistance at 18785.00 persists, there is a bearish trend in price movements.
Brent Crude Oil (ICE) (Q4) Intra-day: Uptrend.
Pivot point:
81.45
Trading strategy:
Above 81.45, bullish targets are 82.30 and 82.70.
Alternative strategy:
Below 81.45, bearish targets are 81.00 and 80.70.
Technical commentary:
RSI is bullish with room for further gains.
UK FTSE 100 Index Futures Intra-day: Key short-term resistance at 8365.00.
Pivot point:
8365.00
Trading strategy:
Below 8365.00, bearish targets are 8300.00 and 8260.00.
Alternative strategy:
Above 8365.00, bullish targets are 8400.00 and 8427.00.
Technical commentary:
RSI is near the neutral zone of 50%.
