Your Daily Trading Strategy Check-in - Deriv Broker January 30, 2025 Newsletter

[Forum Admin]

Daily Market Newsletter
January 31, 2025
 
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)  
 
Please note that due to market volatility, some of the key levels may have already been reached, and scenarios may have already been played out.
 
GBP/USD Intraday: under pressure.
 
Pivot:
1.2440
 
Our preference:
Short positions below 1.2440 with targets at 1.2375 & 1.2345 in extension.
 
Alternative scenario:
Above 1.2440, look for further upside with 1.2465 & 1.2475 as targets.
 
Comment:
If the resistance at 1.2440 is not surpassed, the risk of a break below 1.2375 remains high.
 

Trade

EUR/USD Intraday: key resistance at 1.0410.
 
Pivot:
1.0410
 
Our preference:
Short positions below 1.0410 with targets at 1.0345 & 1.0325 in extension.
 
Alternative scenario:
Above 1.0410, look for further upside with 1.0430 & 1.0445 as targets.
 
Comment:
As long as 1.0410 is resistance, look for choppy price action with a bearish bias.
 


Trade

USD/CHF Intraday: bullish bias above 0.9090.
 
Pivot:
0.9090
 
Our preference:
Long positions above 0.9090 with targets at 0.9115 & 0.9130 in extension.
 
Alternative scenario:
Below 0.9090, look for further downside with 0.9075 & 0.9060 as targets.
 
Comment:
The RSI is mixed with a bullish bias.
 


Trade

Euro Stoxx 50 (Eurex)‎ (H5)‎ Intraday: bullish bias above 5264.00.
 
Pivot:
5264.00
 
Our preference:
Long positions above 5264.00 with targets at 5327.00 & 5370.00 in extension.
 
Alternative scenario:
Below 5264.00, look for further downside with 5230.00 & 5185.00 as targets.
 
Comment:
The RSI is mixed and calls for caution.
 


Trade

Gold Intraday: bullish bias above 2780.00.
 
Pivot:
2780.00
 
Our preference:
Long positions above 2780.00 with targets at 2805.00 & 2820.00 in extension.
 
Alternative scenario:
Below 2780.00, look for further downside with 2766.00 & 2756.00 as targets.
 
Comment:
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
 


Trade

Dax (Eurex)‎ (H5)‎ Intraday: bullish bias above 21645.00.
 
Pivot:
21645.00
 
Our preference:
Long positions above 21645.00 with targets at 21910.00 & 22085.00 in extension.
 
Alternative scenario:
Below 21645.00, look for further downside with 21540.00 & 21410.00 as targets.
 
Comment:
Investors have to remain cautious since these levels may trigger profit-taking.
 


Trade
 
Cac 40 (Euronext)‎ (G5)‎ Intraday: key resistance at 8010.00.
 
Pivot:
8010.00
 
Our preference:
Short positions below 8010.00 with targets at 7942.00 & 7907.00 in extension.
 
Alternative scenario:
Above 8010.00, look for further upside with 8045.00 & 8072.00 as targets.
 
Comment:
The index currently faces a challenging resistance area at 8010.00.
 


Trade

Brent (ICE)‎ (J5)‎ Intraday: the downside prevails.
 
Pivot:
76.10
 
Our preference:
Short positions below 76.10 with targets at 75.00 & 74.40 in extension.
 
Alternative scenario:
Above 76.10, look for further upside with 76.60 & 77.05 as targets.
 
Comment:
The RSI is bearish and calls for further decline.
 


Trade
 

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