Your Daily Trading Strategy Check-in - Deriv Broker May 08, 2025 Newsletter

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Your Daily Trading Strategy Check-in - Deriv Broker May 08, 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 1.3240.
 
Pivot:
1.3240
 
Our preference:
Long positions above 1.3240 with targets at 1.3380 & 1.3405 in extension.
 
Alternative scenario:
Below 1.3240, look for further downside with 1.3209 & 1.3180 as targets.
 
Comment:
A support base at 1.3240 has formed, allowing for temporary stabilization.
 


EUR/USD Intraday: under pressure.
 
Pivot:
1.1340
 
Our preference:
Short positions below 1.1340 with targets at 1.1267 & 1.1230 in extension.
 
Alternative scenario:
Above 1.1340, look for further upside with 1.1360 & 1.1380 as targets.
 
Comment:
The RSI is bearish and calls for further downside.
 


USD/CHF Intraday: bullish bias above 0.8210.
 
Pivot:
0.8210
 
Our preference:
Long positions above 0.8210 with targets at 0.8290 & 0.8330 in extension.
 
Alternative scenario:
Below 0.8210, look for further downside with 0.8185 & 0.8170 as targets.
 
Comment:
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
 


Euro Stoxx 50 (Eurex)‎ (M5)‎ Intraday: key resistance at 5263.00.
 
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 index currently faces a challenging resistance area at 5263.00.
 


Gold Intraday: under pressure.
 
Pivot:
3365.00
 
Our preference:
Short positions below 3365.00 with targets at 3304.00 & 3285.00 in extension.
 
Alternative scenario:
Above 3365.00, look for further upside with 3392.00 & 3412.00 as targets.
 
Comment:
The RSI is below its neutrality area at 50%
 


Dax (Eurex)‎ (M5)‎ Intraday: key resistance at 23545.00.
 
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:
The RSI lacks momentum.
 


CAC 40 (Euronext)‎ (K5)‎ Intraday: key resistance at 7725.00.
 
Pivot:
7725.00
 
Our preference:
Short positions below 7725.00 with targets at 7615.00 & 7560.00 in extension.
 
Alternative scenario:
Above 7725.00, look for further upside with 7774.00 & 7815.00 as targets.
 
Comment:
As long as 7725.00 is resistance, look for choppy price action with a bearish bias.
 


Brent (ICE)‎ (N5)‎ Intraday: intraday support around 60.80.
 
Pivot:
60.80
 
Our preference:
Long positions above 60.80 with targets at 62.70 & 63.30 in extension.
 
Alternative scenario:
Below 60.80, look for further downside, with 60.20 and 59.60 as potential targets.
 
Comment:
The RSI lacks downward momentum.
 

 

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