Your Daily Trading Strategy Check-in - Deriv Broker January 29, 2025 Newsletter

[Forum Admin]

 
Daily Market Newsletter
January 29, 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 and scenarios may have already been reached.

GBP/USD Intraday: the downside prevails.

 

Pivot:
1.2440
 
Our preference:
Short positions below 1.2440 with targets at 1.2380 & 1.2345 in extension.
 
Alternative scenario:
Above 1.2440, look for further upside with 1.2465 & 1.2500 as targets.
 
Comment:
The RSI is bearish and calls for further downside.
 

 
Trade

EUR/USD Intraday: under pressure.

 

Pivot:
1.0425
 
Our preference:
Short positions below 1.0425 with targets at 1.0370 & 1.0340 in extension.
 
Alternative scenario:
Above 1.0425, look for further upside with 1.0455 & 1.0480 as targets.
 
Comment:
The break below 1.0425 is a negative signal that has opened a path to 1.0370.
 

 
Trade
 

USD/CHF Intraday: further advance.

 
Pivot:
0.9045
 
Our preference:
Long positions above 0.9045 with targets at 0.9090 & 0.9110 in extension.
 
Alternative scenario:
Below 0.9045, look for further downside with 0.9030 & 0.9010 as targets.
 
Comment:
The RSI is bullish and calls for further advance.
 

 
Trade

Euro Stoxx 50 (Eurex)‎ (H5)‎ Intraday: key resistance at 5276.00.

 
Pivot:
5276.00
 
Our preference:
Short positions below 5276.00 with targets at 5233.00 & 5206.00 in extension.
 
Alternative scenario:
Above 5276.00, look for further upside with 5300.00 & 5319.00 as targets.
 
Comment:
The index currently faces a challenging resistance area at 5276.00.
 

 
Trade

Gold Intraday: intraday support around 2751.00.

 
Pivot:
2751.00
 
Our preference:
Long positions above 2751.00 with targets at 2766.00 & 2774.00 in extension.
 
Alternative scenario:
Below 2751.00, look for further downside with 2743.00 & 2734.00 as targets.
 
Comment:
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
 

 
Trade
 

Dax (Eurex)‎ (H5)‎ Intraday: caution.

 
Pivot:
21500.00
 
Our preference:
Long positions above 21500.00 with targets at 21690.00 & 21800.00 in extension.
 
Alternative scenario:
Below 21500.00, look for further downside with 21380.00 & 21290.00 as targets.
 
Comment:
The RSI is mixed with a bullish bias.
 

 
Trade  

Cac 40 (Euronext)‎ (G5)‎ Intraday: consolidation in place.

 
Pivot:
8010.00
 
Our preference:
Short positions below 8010.00 with targets at 7855.00 & 7800.00 in extension.
 
Alternative scenario:
Above 8010.00, look for further upside with 8045.00 & 8072.00 as targets.
 
Comment:
The RSI lacks momentum.
 

 
Trade
 

Brent (ICE)‎ (J5)‎ Intraday: bullish bias above 75.50.

 
Pivot:
75.50
 
Our preference:
Long positions above 75.50 with targets at 76.70 & 77.20 in extension.
 
Alternative scenario:
Below 75.50, look for further downside with 75.00 & 74.30 as targets.
 
Comment:
A support base at 75.50 has formed, allowing temporary stabilization.
 

 
Trade
 

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