Market Updates 29 August 2023

EUR/USD Intraday: The upside prevails.

Pivot:

1.0810

Our preference:

Long positions above 1.0810 with targets at 1.0840 and 1.0860 in extension.

Alternative scenario:

Below 1.0810, look for further downside with 1.0795 and 1.0780 as targets.

Comment:

The RSI is mixed to bullish.

USD/JPY Intraday: rebound.

Pivot:

146.20

Our preference:

Long positions above 146.20 with targets at 146.80 and
147.00 in extension.

Alternative scenario:

Below 146.20, look for further downside with 146.00 and 145.70 as targets.

Comment:

The RSI shows upside momentum.

GBP/USD Intraday: The upside prevails.

Pivot:

1.2590

Our preference:

Long positions above 1.2590 with targets at 1.2650 & 1.2670 in extension.

Alternative scenario:

Below 1.2590, look for further downside, with 1.2565 and 1.2545 as targets.

Comment:

The RSI is bullish and calls for further advances.

Gold Intraday: Look for 1932.00.

Pivot:

1917.00

Our preference:

Long positions above 1917.00 with targets at 1932.00 and 1938.00 in extension.

Alternative scenario:

Below 1917.00, look for further downside with 1913.00 and 1908.00 as targets.

Comment:

The RSI shows upside momentum.

Crude Oil (WTI) (V3) Intraday: intraday support is around 79.60.

Pivot:

79.60

Our preference:

Long positions above 79.60 with targets at 80.85 and 81.25 in extension

Alternative scenario:

Below 79.60, look for further downside with 79.20 and 78.80 as targets.

Comment:

The next resistances are at 80.85 and then at 81.25.

Nasdaq 100 (CME) (U3) Intraday: bullish bias above 14880.00.

Pivot:

14880.00

Our preference:

Long positions above 14880.00 with targets at 15240.00 and 15420.00 in extension.

Alternative scenario:

Below 14880.00, look for further downside with 14760.00 and 14620.00 as targets.

Comment:

Dax (Eurex) Intraday: watch 15900.00.

Pivot:

15775.00

Our preference:

Long positions above 15775.00 with targets at 15900.00 and 15950.00 in extension.

Alternative scenario:

Below 15775.00, look for further downside with 15710.00 and 15640.00 as targets.

Comment:

The immediate trend remains up, but the momentum is weak.

Dow Jones (CME) (U3) Intraday: intraday support around 34340.00.

Pivot:

34340.00

Our preference:

Long positions above 34340.00 with targets at 34735.00 and 34930.00 in extension.

Alternative scenario:

Below 34340.00, look for further downside with 34070.00 and 33910.00 as targets.

Comment:

The next resistances are at 34735.00 and then at 34930.00.

Bitcoin / Dollar intraday: As long as 25860 is supported look for 26520

25860 is our pivot point.

Our preference:

As long as 25860 is supported, look for 26520.

Alternative scenario:

Below 25860, expect 25610 and 25460.

Comment:

The RSI is above 50. The MACD is below its signal line and positive. The price could be retraced. Moreover, the price is above its 20- and 50-period moving averages (respectively at 26060 and 26037).

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Hello. I am a Forex Trader. I live in a small town somewhere in the world. She persistently works hard each day and aims at learning and experiencing new things every day.

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