Daily Technical levels – Trading Central 18-02-2016 by Orbex
EUR/USD Intraday: the downside prevails.
Pivot: 1.1185
Our preference: short positions below 1.1185 with targets @ 1.1085 & 1.1040 in extension.
Alternative scenario: above 1.1185 look for further upside with 1.1210 & 1.1260 as targets.
Comment: The pair is trading within a bearish channel.
USD/CHF Intraday: the upside prevails.
Pivot: 0.9875
Our preference: long positions above 0.9875 with targets @ 0.9940 & 0.9985 in extension.
Alternative scenario: below 0.9875 look for further downside with 0.9840 & 0.9785 as targets.
Comment: the break above 0.9875 is a positive signal that has opened a path to 0.9940.
GBP/USD Intraday: under pressure.
Pivot: 1.4340
Our preference: short positions below 1.4340 with targets @ 1.4240 & 1.4205 in extension.
Alternative scenario: above 1.4340 look for further upside with 1.4400 & 1.4465 as targets.
Comment: as long as 1.4340 is resistance, look for choppy price action with a bearish bias.
Dow Jones (CME) (H6) Intraday: turning down.
Pivot: 16550.00
Our preference: short positions below 16550.00 with targets @ 16200.00 & 16075.00 in extension.
Alternative scenario: above 16550.00 look for further upside with 16660.00 & 16700.00 as targets.
Comment: the RSI is posting a bearish divergence (not confirmed yet).
Gold spot Intraday: supported by a rising trend line.
Pivot: 1195.00
Our preference: long positions above 1195.00 with targets @ 1217.00 & 1232.00 in extension.
Alternative scenario: below 1195.00 look for further downside with 1181.00 & 1175.00 as targets.
Comment: the RSI is mixed with a bullish bias.
Crude Oil (WTI) (H6) Intraday: bounce.
Pivot: 29.90
Our preference: long positions above 29.90 with targets @ 32.00 & 32.90 in extension.
Alternative scenario: below 29.90 look for further downside with 28.75 & 27.75 as targets.
Comment: the RSI is mixed to bullish.
Chart Caption
- Green Lines Represent Resistances
- Red Lines Represent Support Levels
- Light Blue is a Pivot Point
- Black represents the price when the report was produced
Source: www.orbex.com
