Daily Technical levels – Trading Central 23-02-2016‏ by Orbex

EUR/USD Intraday: key resistance at 1.1080.

Pivot: 1.1080

Our preference: short positions below 1.1080 with targets @ 1.1000 & 1.0965 in extension.

Alternative scenario: above 1.1080 look for further upside with 1.1100 & 1.1140 as targets.

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

USD/CHF Intraday: bullish bias above 0.9930.

Pivot: 0.9930

Our preference: long positions above 0.9930 with targets @ 1.0000 & 1.0030 in extension.

Alternative scenario: below 0.9930 look for further downside with 0.9885 & 0.9850 as targets.

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

GBP/USD Intraday: under pressure.

Pivot: 1.4170

Our preference: short positions below 1.4170 with targets @ 1.4055 & 1.3990 in extension.

Alternative scenario: above 1.4170 look for further upside with 1.4250 & 1.4340 as targets.

Comment: the RSI is mixed to bearish.

Dow Jones (CME) (H6) Intraday: under pressure.

Pivot: 16650.00

Our preference: short positions below 16650.00 with targets @ 16370.00 & 16250.00 in extension.

Alternative scenario: above 16650.00 look for further upside with 16720.00 & 16880.00 as targets.

Comment: the RSI lacks upward momentum.

Gold spot Intraday: rebound.

Pivot: 1207.00

Our preference: long positions above 1207.00 with targets @ 1226.50 & 1233.00 in extension.

Alternative scenario: below 1207.00 look for further downside with 1200.00 & 1191.00 as targets.

Comment: the RSI is mixed with a bullish bias.

Crude Oil (WTI) (J6) Intraday: limited upside.

Pivot: 32.15

Our preference: long positions above 32.15 with targets @ 33.80 & 34.20 in extension.

Alternative scenario: below 32.15 look for further downside with 31.50 & 30.75 as targets.

Comment: the RSI is mixed to bullish.

Source: www.orbex.com