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Daily Technical levels – Trading Central 29-02-2016‏ by ORBEX

 

EUR/USD Intraday: the downside prevails.

orbex29022016 1

Pivot: 1.1000

Our preference: short positions below 1.1000 with targets @ 1.0900 & 1.0860 in extension.

Alternative scenario: above 1.1000 look for further upside with 1.1030 & 1.1070 as targets.

Comment: the RSI lacks upward momentum.

 


USD/CHF Intraday: the upside prevails.

orbex29022016 2

Pivot: 0.9925

Our preference: long positions above 0.9925 with targets @ 1.0000 & 1.0030 in extension.

Alternative scenario: below 0.9925 look for further downside with 0.9895 & 0.9870 as targets.

Comment: the RSI lacks downward momentum.

 


GBP/USD Intraday: under pressure.

orbex29022016 3


Pivot: 1.3950

Our preference: short positions below 1.3950 with targets @ 1.3825 & 1.3765 in extension.

Alternative scenario: above 1.3950 look for further upside with 1.3990 & 1.4030 as targets.

Comment: the RSI lacks upward momentum.

 

Dow Jones (CME) (H6) Intraday: intraday support around 16425.00.

orbex29022016 4

Pivot: 16425.00

Our preference: long positions above 16425.00 with targets @ 16680.00 & 16820.00 in extension.

Alternative scenario: below 16425.00 look for further downside with 16250.00 & 16140.00 as targets.

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

 

Gold spot Intraday: key resistance at 1232.00.

orbex29022016 5

Pivot: 1232.00

Our preference: short positions below 1232.00 with targets @ 1211.00 & 1202.00 in extension.

Alternative scenario: above 1232.00 look for further upside with 1243.00 & 1254.00 as targets.

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

 

Crude Oil (WTI) (J6) Intraday: under pressure.

orbex29022016 6

Pivot: 33.80

Our preference: short positions below 33.80 with targets @ 32.00 & 31.05 in extension.

Alternative scenario: above 33.80 look for further upside with 34.70 & 35.60 as targets.

Comment: the RSI is bearish and calls for further downside.

 

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

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