Your Daily Trading Strategy Check-in - Deriv Broker February 24, 2025 Newsletter

[Forum Admin]

Your Daily Trading Strategy Check-in - Deriv Broker February 24, 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.

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

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

Click Here to Read Deriv Broker Forex Platforms Review

 
GBP/USD Intraday: intraday support is around 1.2619.
 
Pivot:
1.2619
 
Our preference:
Long positions above 1.2619 with targets at 1.2670 & 1.2690 in extension.
 
Alternative scenario:
Below 1.2619, look for further downside with 1.2600 & 1.2580 as targets.
 
Comment:
The RSI is mixed.
 


EUR/USD Intraday: intraday support is around 1.0438.
 
Pivot:
1.0438
 
Our preference:
Long positions above 1.0438 with targets at 1.0505 & 1.0528 in extension.
 
Alternative scenario:
Below 1.0438, look for further downside with 1.0416 & 1.0400 as targets.
 
Comment:
The RSI lacks momentum.
 


USD/CHF Intraday: key resistance at 0.9005.
 
Pivot:
0.9005
 
Our preference:
Short positions below 0.9005 with targets at 0.8951 & 0.8930 in extension.
 
Alternative scenario:
Above 0.9005, look for further upside with 0.9030 & 0.9055 as targets.
 
Comment:
If 0.9005 is resistance, look for choppy price action with a bearish bias.
 


Euro Stoxx 50 (Eurex)‎ (H5)‎ Intraday: intraday support around 5460.00.
 
Pivot:
5460.00
 
Our preference:
Long positions above 5460.00 with targets at 5520.00 & 5556.00 in extension.
 
Alternative scenario:
Below 5460.00, look for further downside with 5437.00 & 5400.00 as targets.
 
Comment:
The RSI is around its neutrality area at 50%
 


Gold Intraday: bullish bias above 2929.00.
 
Pivot:
2929.00
 
Our preference:
Long positions above 2929.00 with targets at 2955.00 & 2966.00 in extension.
 
Alternative scenario:
Below 2929.00, look for further downside with 2923.00 & 2916.00 as targets.
 
Comment:
The RSI is above its neutrality area at 50%.
 


Dax (Eurex)‎ (H5)‎ Intraday: intraday support around 22285.00.
 
Pivot:
22285.00
 
Our preference:
Long positions above 22285.00 with targets at 22660.00 & 22855.00 in extension.
 
Alternative scenario:
Below 22285.00, look for further downside with 22165.00 & 22010.00 as targets.
 
Comment:
A support base at 22285.00 has formed, allowing temporary stabilization.
 


Cac 40 (Euronext)‎ (H5)‎ Intraday: intraday support around 8095.00.
 
Pivot:
8095.00
 
Our preference:
Long positions above 8095.00 with targets at 8200.00 & 8246.00 in extension.
 
Alternative scenario:
Below 8095.00, look for further downside with 8052.00 & 8000.00 as targets.
 
Comment:
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
 


Brent (ICE)‎ (K5)‎ Intraday: towards 73.10.
 
Pivot:
74.60
 
Our preference:
Short positions below 74.60 with targets at 73.55 & 73.10 in extension.
 
Alternative scenario:
Above 74.60, look for further upside with 74.95 & 75.25 as targets.
 
Comment:
The RSI is bearish and calls for further downside.
 

  Click Here to Read Deriv Broker Forex Platforms Review