Technical Analysis (European Session) on 18/03/2020

EU

Technical Analysis (European Session) on 18/03/2020

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EUR/USD Intraday: the upside prevails.

Pivot:
1.0980

Our preference:
long positions above 1.0980 with targets at 1.1050 & 1.1095 in extension.

Alternative scenario:
below 1.0980 look for further downside with 1.0950 & 1.0900 as targets.

Comment:
the RSI shows upside momentum.

GBP/USD Intraday: under pressure.

Pivot:
1.2190

Our preference:
short positions below 1.2190 with targets at 1.2040 & 1.1990 in extension.

Alternative scenario:
above 1.2190 look for further upside with 1.2265 & 1.2330 as targets.

Comment:
the RSI shows downside momentum.

USD/JPY Intraday: break of a ST rising trendline support.

Pivot:
107.85

Our preference:
short positions below 107.85 with targets at 106.25 & 105.80 in extension.

Alternative scenario:
above 107.85 look for further upside with 108.50 & 109.05 as targets.

Comment:
the RSI shows downside momentum.

Dax (Eurex)‎ (H0)‎ Intraday: key resistance at 9150.00.

Pivot:
9150.00

Our preference:
short positions below 9150.00 with targets at 8210.00 & 7810.00 in extension.

Alternative scenario:
above 9150.00 look for further upside with 9550.00 & 9930.00 as targets.

Comment:
as long as the resistance at 9150.00 is not surpassed, the risk of the break below 8210.00 remains high.

Gold spot Intraday: turning down.

Pivot:
1533.00

Our preference:
short positions below 1533.00 with targets at 1486.00 & 1465.00 in extension.

Alternative scenario:
above 1533.00 look for further upside with 1546.00 & 1563.00 as targets.

Comment:
the RSI shows downside momentum.

Crude Oil (WTI)‎ (J0)‎ Intraday: towards 24.40.

Pivot:
27.20

Our preference:
short positions below 27.20 with targets at 25.30 & 24.40 in extension.

Alternative scenario:
above 27.20 look for further upside with 28.10 & 29.30 as targets.

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

 

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