Today's Forex Trade Setups : 22 Sep 2015

Discussion in 'Technical Analysis' started by Sam, Sep 22, 2015.

  1. Sam

    Sam Forum Member

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    FTSE 100 (NYSE LIFFE) (Z5) INTRADAY: CONSOLIDATION.

    Pivot: 6150

    Our preference: Short positions below 6150 with targets @ 6025 & 5985 in extension.

    Alternative scenario: Above 6150 look for further upside with 6218 & 6250 as targets.

    Comment: As long as 6150 is resistance, look for choppy price action with a bearish bias.

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    DOW JONES (CME) (Z5) INTRADAY: KEY RESISTANCE AT 16520.

    Pivot: 16520

    Our preference: Short positions below 16520 with targets @ 16220 & 16120 in extension.

    Alternative scenario: Above 16520 look for further upside with 16620 & 16700 as targets.

    Comment: As long as 16520 is resistance, likely decline to 16220.

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    DAX (EUREX) (Z5) INTRADAY: BREAK OF A ST RISING TRENDLINE SUPPORT.

    Pivot: 10075

    Our preference: Short positions below 10075 with targets @ 9780 & 9640 in extension.

    Alternative scenario: Above 10075 look for further upside with 10245 & 10340 as targets.

    Comment: As long as the resistance at 10075 is not surpassed, the risk of the break below 9780 remains high.

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    GOLD SPOT INTRADAY: BREAK OF A ST RISING TRENDLINE SUPPORT.

    Pivot: 1142

    Our preference: Short positions below 1142 with targets @ 1127 & 1124.5 in extension.

    Alternative scenario: Above 1142 look for further upside with 1147 & 1150.9 as targets.

    Comment: As long as 1142 is resistance, likely decline to 1127.

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    CRUDE OIL (WTI) (V5) INTRADAY: THE BIAS REMAINS BULLISH.

    Pivot: 45.55

    Our preference: Long positions above 45.55 with targets @ 47 & 47.64 in extension.

    Alternative scenario: Below 45.55 look for further downside with 44.24 & 43.55 as targets.

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

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