Your Daily Trading Strategy Check-in - Deriv Broker February 04, 2025 Newsletter

[Forum Admin]

Your Daily Trading Strategy Check-in - Deriv Broker February 04, 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.

GBP/USD   EUR/USD   USD/CHF   Euro Stoxx 50 (Eurex)   Gold   Dax (Eurex)   Cac 40 (Euronext)   Brent (ICE)
 
GBP/USD Intraday: under pressure.
 
Pivot:
1.2450
 
Our preference:
Short positions below 1.2450 with targets at 1.2375 & 1.2350 in extension.
 
Alternative scenario:
Above 1.2450, look for further upside with 1.2475 & 1.2500 as targets.
 
Comment:
If the resistance at 1.2450 is not surpassed, the risk of a break below 1.2375 remains high.
 

 
Trade
 
EUR/USD Intraday: under pressure.
 
Pivot:
1.0355
 
Our preference:
Short positions below 1.0355 with targets at 1.0270 & 1.0240 in extension.
 
Alternative scenario:
Above 1.0355, look for further upside with 1.0390 & 1.0430 as targets.
 
Comment:
As long as 1.0355 is resistance, look for choppy price action with a bearish bias.
 

 
Trade
 
USD/CHF Intraday: Consolidation is in place.
 
Pivot:
0.9110
 
Our preference:
Short positions below 0.9110 with targets at 0.9070 & 0.9055 in extension.
 
Alternative scenario:
Above 0.9110, look for further upside with 0.9130 & 0.9140 as targets.
 
Comment:
The break below 0.9110 is a negative signal that has opened a path to 0.9070.
 

 
Trade
 
Euro Stoxx 50 (Eurex)‎ (H5)‎ Intraday: consolidation in place.
 
Pivot:
5273.00
 
Our preference:
Short positions below 5273.00 with targets at 5185.00 & 5124.00 in extension.
 
Alternative scenario:
Above 5273.00, look for further upside with 5327.00 & 5390.00 as targets.
 
Comment:
The RSI lacks upward momentum.
 

 
Trade
 
Gold Intraday: bullish bias above 2802.00.
 
Pivot:
2802.00
 
Our preference:
Long positions above 2802.00 with targets at 2825.00 & 2831.00 in extension.
 
Alternative scenario:
Below 2802.00, look for further downside with 2793.00 & 2784.00 as targets.
 
Comment:
A support base at 2802.00 has formed, allowing temporary stabilization.
 

 
Trade
 
Dax (Eurex)‎ (H5)‎ Intraday: consolidation in place.
 
Pivot:
21740.00
 
Our preference:
Short positions below 21740.00 with targets at 21370.00 & 21220.00 in extension.
 
Alternative scenario:
Above 21740.00, look for further upside with 21900.00 & 22000.00 as targets.
 
Comment:
The RSI lacks upward momentum.
 

 
Trade
 
Cac 40 (Euronext)‎ (G5)‎ Intraday: key resistance at 7933.00.
 
Pivot:
7933.00
 
Our preference:
Short positions below 7933.00 with targets at 7807.00 & 7764.00 in extension.
 
Alternative scenario:
Above 7933.00, look for further upside with 8010.00 & 8072.00 as targets.
 
Comment:
Even though a continuation of the technical rebound cannot be ruled out, its extent should be limited.
 

 
Trade

Brent (ICE)‎ (J5)‎ Intraday: the downside prevails.
 
Pivot:
75.60
 
Our preference:
Short positions below 75.60 with targets at 74.40 & 73.90 in extension.
 
Alternative scenario:
Above 75.60, look for further upside with 76.00 & 76.35 as targets.
 
Comment:
The break below 75.60 is a negative signal that has opened a path to 74.40.
 

 
Trade
 

Click Here to Read Deriv Broker Forex Platforms Review