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Daily Technical levels – Trading Central 02-03-2016‏

 

EUR/USD Intraday: the downside prevails.

orbex02032016 1

Pivot: 1.0895

Our preference: short positions below 1.0895 with targets @ 1.0810 & 1.0785 in extension.

Alternative scenario: above 1.0895 look for further upside with 1.0915 & 1.0940 as targets.

Comment: the RSI is mixed to bearish.

 

USD/CHF Intraday: the upside prevails.

orbex02032016 2

Pivot: 0.9945

Our preference: long positions above 0.9945 with targets @ 1.0010 & 1.0030 in extension.

Alternative scenario: below 0.9945 look for further downside with 0.9895 & 0.9870 as targets.

Comment: the RSI is bullish and calls for further upside.

 

GBP/USD Intraday: the upside prevails.

orbex02032016 3

Pivot: 1.3900

Our preference: long positions above 1.3900 with targets @ 1.4020 & 1.4045 in extension.

Alternative scenario: below 1.3900 look for further downside with 1.3840 & 1.3765 as targets.

Comment: the RSI is well directed.


Dow Jones (CME) (H6) Intraday: further upside.

orbex02032016 4

Pivot: 16690.00

Our preference: long positions above 16690.00 with targets @ 17000.00 & 17100.00 in extension.

Alternative scenario: below 16690.00 look for further downside with 16600.00 & 16555.00 as targets.

Comment: the immediate trend remains up and the momentum is strong.

 

Gold spot Intraday: under pressure.

orbex02032016 5

Pivot: 1240.00

Our preference: short positions below 1240.00 with targets @ 1220.00 & 1211.00 in extension.

Alternative scenario: above 1240.00 look for further upside with 1249.00 & 1254.00 as targets.

Comment: the RSI calls for a new downleg.

 

Crude Oil (WTI) (J6) Intraday: supported by a rising trend line.

orbex02032016 6

Pivot: 33.00

Our preference: long positions above 33.00 with targets @ 34.70 & 35.60 in extension.

Alternative scenario: below 33.00 look for further downside with 32.30 & 31.60 as targets.

Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

 

Source: www.orbex.com

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