Daily Market Update 26 OCT 2023

EUR/USD Intraday: the downside prevails.

 Pivot:

1.0580 

Our preference:

Short positions below 1.0580 with targets at 1.0525 & 1.0505 in extension. 

Alternative scenario:

Above 1.0580 look for further upside with 1.0605 & 1.0625 as targets.

 Comment:

The RSI shows downside momentum.

USD/JPY Intraday: the upside prevails. 

Pivot:

150.15 

Our preference:

Long positions above 150.15 with targets at 150.60 & 150.75 in extension. 

Alternative scenario:

Below 150.15 look for further downside with 149.95 & 149.75 as targets.

 Comment:

The RSI shows upside momentum.

GBP/USD Intraday: the downside prevails. 

Pivot:

1.2120 

Our preference:

Short positions below 1.2120 with targets at 1.2050 & 1.2030 in extension. 

Alternative scenario:

Above 1.2120 look for further upside with 1.2150 & 1.2175 as targets. 

Comment:

The RSI is mixed to bearish.

Gold Intraday: further upside. 

Pivot:

1977.00 

Our preference:

Long positions above 1977.00 with targets at 1997.00 & 2003.00 in extension. 

Alternative scenario:

Below 1977.00 look for further downside with 1969.00 & 1963.00 as targets.

 Comment:

The RSI shows upside momentum.

Crude Oil (WTI)‎ (Z3)‎ Intraday: intraday support is around 84.00. 

Pivot:

84.00 

Our preference: Long positions above 84.00 with targets at 86.30 & 87.25 in extension. 

Alternative scenario:

Below 84.00 look for further downside with 82.90 & 82.05 as targets. 

Comment:

The RSI is mixed with a bullish bias.

Nasdaq 100 (CME)‎ (Z3)‎ Intraday: target 14200.00. 

Pivot:

14450.00

Our preference:

Short positions below 14450.00 with targets at 14200.00 & 14100.00 in extension. 

Alternative scenario:

Above 14450.00 look for further upside with 14600.00 & 14720.00 as targets. 

Comment:

The RSI has broken down its 30 levels.

Dax (Eurex)‎ Intraday: under pressure. 

Pivot:

14995.00 

Our preference:

Short positions below 14995.00 with targets at 14730.00 & 14644.00 in extension. 

Alternative scenario:

Above 14995.00 look for further upside with 15101.00 & 15164.00 as targets. 

Comment:

The RSI is mixed with a bearish bias.

Dow Jones (CME)‎ (Z3)‎ Intraday: towards 32950.00. 

Pivot:

33240.00 

Our preference:

Short positions below 33240.00 with targets at 32950.00 & 32840.00 in extension. 

Alternative scenario:

Above 33240.00 look for further upside with 33360.00 & 33470.00 as targets.

 Comment:

The RSI is bearish and calls for further decline.

Bitcoin / Dollar intraday: as long as 34330 is supported look for 35580 

34330 is our pivot point. 

Our preference:

As long as 34330 is supported look for 35580. 

Alternative scenario:

The downside breakout of 34330 would call for 33840 and 33560. 

Comment:

The RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The price could be retraced. Moreover, the price is above its 20 and 50-period moving average (respectively at 34680 and 34468).

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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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