Your Daily Trading Strategy Check-in - Deriv Broker February 06, 2025 Newsletter

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Your Daily Trading Strategy Check-in - Deriv Broker February 06, 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.

EUR/USD   GBP/USD   USD/CHF   Euro Stoxx 50 (Eurex)   Dax (Eurex)   Cac 40 (Euronext)   Brent (ICE)   Gold

Because of market volatility, some key levels may have already been reached, and scenarios may have played out.

EUR/USD Intraday: the downside prevails.

 
Pivot:
1.0390
 
Our preference:
Short positions below 1.0390 with targets at 1.0350 & 1.0320 in extension.
 
Alternative scenario:
Above 1.0390, look for further upside with 1.0405 & 1.0440 as targets.
 
Comment:
The RSI is bearish and calls for further decline.
 

Trade

GBP/USD Intraday: the downside prevails.
 
Pivot:
1.2430
 
Our preference:
Short positions below 1.2430 with targets at 1.2335 & 1.2300 in extension.
 
Alternative scenario:
Above 1.2430, look for further upside with 1.2460 & 1.2480 as targets.
 
Comment:
The immediate trend remains down, and the momentum is strong.
 

Trade

USD/CHF Intraday: further advance.
 
Pivot:
0.9020
 
Our preference:
Long positions above 0.9020 with targets at 0.9060 & 0.9080 in extension.
 
Alternative scenario:
Below 0.9020, look for further downside with 0.9000 & 0.8970 as targets.
 
Comment:
The RSI is bullish and calls for further upside.
 

Trade

Euro Stoxx 50 (Eurex)‎ (H5)‎ Intraday: the upside prevails.
 
Pivot:
5295.00
 
Our preference:
Long positions above 5295.00 with targets at 5327.00 & 5370.00 in extension.
 
Alternative scenario:
Below 5295.00, look for further downside with 5250.00 & 5185.00 as targets.
 
Comment:
The RSI is bullish and calls for further advance.
 


Trade

Dax (Eurex)‎ (H5)‎ Intraday: watch 21900.00.
 
Pivot:
21730.00
 
Our preference:
Long positions above 21730.00 with targets at 21900.00 & 22000.00 in extension.
 
Alternative scenario:
Below 21730.00, look for further downside with 21600.00 & 21480.00 as targets.
 
Comment:
The RSI is bullish and calls for further advance.
 

Trade


Cac 40 (Euronext)‎ (G5)‎ Intraday: watch 8009.00.
 
Pivot:
7865.00
 
Our preference:
Long positions above 7865.00 with targets at 7985.00 & 8009.00 in extension.
 
Alternative scenario:
Below 7865.00, look for further downside with 7827.00 & 7807.00 as targets.
 
Comment:
The RSI is bullish and calls for further upside.
 


Trade

Brent (ICE)‎ (J5)‎ Intraday: under pressure.
 
Pivot:
75.65
 
Our preference:
Short positions below 75.65 with targets at 74.15 & 73.40 in extension.
 
Alternative scenario:
Above 75.65, look for further upside with 76.10 & 76.65 as targets.
 
Comment:
As long as 75.65 is resistance, look for choppy price action with a bearish bias.
 


Trade

Gold Intraday: under pressure.
 
Pivot:
2869.00
 
Our preference:
Short positions below 2869.00 with targets at 2840.00 & 2830.00 in extension.
 
Alternative scenario:
Above 2869.00, look for further upside with 2882.00 & 2890.00 as targets.
 
Comment:
As long as the resistance at 2869.00 is not surpassed, the risk of a break below 2840.00 remains high.
 



Trade
 

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