Your Daily Trading Strategy Check-in - Deriv Broker May 05, 2025 Newsletter

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Your Daily Trading Strategy Check-in - Deriv Broker May 05, 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.
 

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GBP/USD Intraday: key resistance at 1.3315.
 
Pivot:
1.3315
 
Our preference:
Short positions below 1.3315 with targets at 1.3255 & 1.3230 in extension.
 
Alternative scenario:
Above 1.3315, look for further upside with 1.3345 & 1.3375 as targets.
 
Comment:
As long as 1.3315 is resistance, look for choppy price action with a bearish bias.
 


EUR/USD Intraday: further advance.
 
Pivot:
1.1300
 
Our preference:
Long positions above 1.1300 with targets at 1.1370 & 1.1400 in extension.
 
Alternative scenario:
Below 1.1300, look for further downside with 1.1280 & 1.1265 as targets.
 
Comment:
The RSI is bullish and calls for further upside.
 


USD/CHF Intraday: capped by a negative trend line.
 
Pivot:
0.8270
 
Our preference:
Short positions below 0.8270 with targets at 0.8185 & 0.8160 in extension.
 
Alternative scenario:
Above 0.8270, look for further upside with 0.8295 & 0.8310 as targets.
 
Comment:
As long as the resistance at 0.8270 is not surpassed, the risk of the break below 0.8185 remains high.
 


Euro Stoxx 50 (Eurex)‎ (M5)‎ Intraday: the bias remains bullish.
 
Pivot:
5160.00
 
Our preference:
Long positions above 5160.00 with targets at 5248.00 & 5310.00 in extension.
 
Alternative scenario:
Below 5160.00, look for further downside with 5129.00 & 5090.00 as targets.
 
Comment:
Investors have to remain cautious since these levels may trigger profit taking.
 


Gold Intraday: further upside.
 
Pivot:
3284.00
 
Our preference:
Long positions above 3284.00 with targets at 3329.00 & 3353.00 in extension.
 
Alternative scenario:
Below 3284.00, look for further downside with 3270.00 & 3252.00 as targets.
 
Comment:
The RSI is bullish and calls for further upside.
 


Dax (Eurex)‎ (M5)‎ Intraday: bullish bias above 23072.00.
 
Pivot:
23072.00
 
Our preference:
Long positions above 23072.00 with targets at 23355.00 & 23549.00 in extension.
 
Alternative scenario:
Below 23072.00, look for further downside with 22930.00 & 22795.00 as targets.
 
Comment:
The RSI is bullish and calls for further upside.
 


CAC 40 (Euronext)‎ (K5)‎ Intraday: the bias remains bullish.
 
Pivot:
7608.00
 
Our preference:
Long positions above 7608.00 with targets at 7715.00 & 7815.00 in extension.
 
Alternative scenario:
Below 7608.00, look for further downside with 7555.00 & 7449.00 as targets.
 
Comment:
Investors have to remain cautious since these levels may trigger profit taking.
 


Brent (ICE)‎ (N5)‎ Intraday: under pressure.
 
Pivot:
60.55
 
Our preference:
Short positions below 60.55 with targets at 58.95 & 58.50 in extension.
 
Alternative scenario:
Above 60.55, look for further upside with 61.65 & 62.70 as targets.
 
Comment:
As long as 60.55 is resistance, look for choppy price action with a bearish bias.
 

 

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