Daily Technical levels – Trading Central 03-03-2016 by Orbex‏

EUR/USD Intraday: under pressure.

Pivot: 1.0895

Our preference: short positions below 1.0895 with targets @ 1.0820 & 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: bullish bias above 0.9945.

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: a support base at 0.9945 has formed and has allowed for a temporary stabilisation.

GBP/USD Intraday: the upside prevails.

Pivot: 1.4020

Our preference: long positions above 1.4020 with targets @ 1.4130 & 1.4160 in extension.

Alternative scenario: below 1.4020 look for further downside with 1.3980 & 1.3910 as targets.

Comment: the RSI is well directed.

Dow Jones (CME) (H6) Intraday: bullish bias above 16730.00.

Pivot: 16730.00

Our preference: long positions above 16730.00 with targets @ 16905.00 & 17000.00 in extension.

Alternative scenario: below 16730.00 look for further downside with 16665.00 & 16610.00 as targets.

Comment: the break above 16730.00 is a positive signal that has opened a path to 16905.00.

Gold spot Intraday: bullish bias above 1226.00.

Pivot: 1226.00

Our preference: long positions above 1226.00 with targets @ 1249.00 & 1254.00 in extension.

Alternative scenario: below 1226.00 look for further downside with 1220.00 & 1211.00 as targets.

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

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

Pivot: 33.55

Our preference: long positions above 33.55 with targets @ 35.18 & 35.60 in extension.

Alternative scenario: below 33.55 look for further downside with 33.00 & 32.30 as targets.

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

Source: www.orbex.com