Your Daily Trading Strategy Check-in - Deriv Broker April 09, 2025 Newsletter

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Your Daily Trading Strategy Check-in - Deriv Broker April 09, 2025 Newsletter

Here are today's directional views from the global research desks of Trading Central! These are starting points for your research to identify opportunities that make sense for you.

Please note that due to market volatility, some of the key levels and scenarios may have already been reached.
 

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EUR/USD Intraday: bullish bias above 1.1000.
 
Pivot:
1.1000
 
Our preference:
Long positions above 1.1000 with targets at 1.1090 & 1.1145 in extension.
 
Alternative scenario:
Below 1.1000, look for further downside with 1.0955 & 1.0900 as targets.
 
Comment:
The break above the resistance at 1.1000 triggered an upward acceleration to 1.1090.
 


GBP/USD Intraday: bullish bias above 1.2790.
 
Pivot:
1.2790
 
Our preference:
Long positions above 1.2790 with targets at 1.2880 & 1.2925 in extension.
 
Alternative scenario:
Below 1.2790, look for further downside with 1.2750 & 1.2705 as targets.
 
Comment:
The RSI is mixed with a bullish bias.
 


USD/CHF Intraday: the downside prevails.
 
Pivot:
0.8480
 
Our preference:
Short positions below 0.8480 with targets at 0.8330 & 0.8300 in extension.
 
Alternative scenario:
Above 0.8480, look for further upside with 0.8520 & 0.8560 as targets.
 
Comment:
The break below 0.8480 is a negative signal that has opened a path to 0.8330.
 


Euro Stoxx 50 (Eurex)‎ (M5)‎ Intraday: key resistance at 4765.00.
 
Pivot:
4765.00
 
Our preference:
Short positions below 4765.00 with targets at 4445.00 & 4260.00 in extension.
 
Alternative scenario:
Above 4765.00, look for further upside with 4877.00 & 7970.00 as targets.
 
Comment:
As long as 4765.00 is resistance, look for choppy price action with a bearish bias.
 


Dax (Eurex)‎ (M5)‎ Intraday: key resistance at 20218.00.
 
Pivot:
20218.00
 
Our preference:
Short positions below 20218.00 with targets at 18980.00 & 18539.00 in extension.
 
Alternative scenario:
Above 20218.00, look for further upside with 20625.00 & 21240.00 as targets.
 
Comment:
The index currently faces a challenging resistance area at 20218.00.
 


Cac 40 (Euronext)‎ (J5)‎ Intraday: key resistance at 7030.00.
 
Pivot:
7030.00
 
Our preference:
Short positions below 7030.00 with targets at 6745.00 & 6600.00 in extension.
 
Alternative scenario:
Above 7030.00, look for further upside with 7260.00 & 7390.00 as targets.
 
Comment:
As long as the resistance at 7030.00 is not surpassed, the risk of a break below 6745.00 remains high.
 


Brent (ICE)‎ (M5)‎ Intraday: the downside prevails.
 
Pivot:
61.50
 
Our preference:
Short positions below 61.50 with targets at 57.50 & 55.60 in extension.
 
Alternative scenario:
Above 61.50, look for further upside with 63.00 & 63.90 as targets.
 
Comment:
The RSI is bearish and calls for further downside.
 


Gold Intraday: intraday support around 2998.00.
 
Pivot:
2998.00
 
Our preference:
Long positions above 2998.00 with targets at 3055.00 & 3098.00 in extension.
 
Alternative scenario:
Below 2998.00, look for further downside with 2972.00 & 2956.00 as targets.
 
Comment:
The RSI is bullish and calls for further upside.
 

 

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