Your Daily Trading Strategy Check-in - Deriv Broker May 07, 2025 Newsletter

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Your Daily Trading Strategy Check-in - Deriv Broker May 07, 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: intraday support around 1.3320.
 
Pivot:
1.3320
 
Our preference:
Long positions above 1.3320 with targets at 1.3380 & 1.3400 in extension.
 
Alternative scenario:
Below 1.3320, look for further downside with 1.3285 & 1.3260 as targets.
 
Comment:
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
 


EUR/USD Intraday: intraday support around 1.1320.
 
Pivot:
1.1320
 
Our preference:
Long positions above 1.1320 with targets at 1.1380 & 1.1400 in extension.
 
Alternative scenario:
Below 1.1320, look for further downside, with 1.1305 and 1.1280 as potential targets.
 
Comment:
The RSI is bullish, indicating a potential further advance.
 


USD/CHF Intraday: under pressure.
 
Pivot:
0.8280
 
Our preference:
Short positions below 0.8280 with targets at 0.8220 & 0.8200 in extension.
 
Alternative scenario:
Above 0.8280, look for further upside with 0.8300 & 0.8330 as targets.
 
Comment:
As long as 0.8280 is resistance, look for choppy price action with a bearish bias.
 


Euro Stoxx 50 (Eurex)‎ (M5)‎ Intraday: consolidation in place.
 
Pivot:
5263.00
 
Our preference:
Short positions below 5263.00 with targets at 5208.00 & 5178.00 in extension.
 
Alternative scenario:
Above 5263.00, look for further upside with 5291.00 & 5310.00 as targets.
 
Comment:
The RSI lacks momentum.
 


Gold Intraday: consolidation.
 
Pivot:
3417.00
 
Our preference:
Short positions below 3417.00 with targets at 3365.00 & 3338.00 in extension.
 
Alternative scenario:
Above 3417.00, look for further upside with 3437.00 & 3460.00 as targets.
 
Comment:
As long as 3417.00 is resistance, look for choppy price action with a bearish bias.
 


Dax (Eurex)‎ (M5)‎ Intraday: consolidation.
 
Pivot:
23545.00
 
Our preference:
Short positions below 23545.00 with targets at 23260.00 & 23170.00 in extension.
 
Alternative scenario:
Above 23545.00, look for further upside with 23695.00 & 23800.00 as targets.
 
Comment:
As long as 23545.00 is resistance, look for choppy price action with a bearish bias.
 


CAC 40 (Euronext)‎ (K5)‎ Intraday: under pressure.
 
Pivot:
7725.00
 
Our preference:
Short positions below 7725.00 with targets at 7624.00 & 7560.00 in extension.
 
Alternative scenario:
Above 7725.00, look for further upside with 7774.00 & 7815.00 as targets.
 
Comment:
As long as the resistance at 7725.00 is not surpassed, the risk of the break below 7624.00 remains high.
 


Brent (ICE)‎ (N5)‎ Intraday: further advance.
 
Pivot:
61.85
 
Our preference:
Long positions above 61.85 with targets at 63.30 & 64.30 in extension.
 
Alternative scenario:
Below 61.85, look for further downside, with 61.20 and 60.65 as potential targets.
 
Comment:
The RSI shows upside momentum.
 

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