DAILY MARKET NEWSLETTER

September 11, 2023

Here are today's directional views from the global research desks of Trading Central! These are starting points for your own research to identify opportunities that make sense for you. Like what you see？ Feel free to forward this to a friend!

Bitcoin / USD

• Intraday: The downside prevails as long as 25930 is the resistance.

• Pivot Point: 25930

• Our preference: The downside prevails as long as 25930 is resistance.

• Alternative scenario: The upside breakout of 25930 would call for 26230 and 26400.

• Comment: The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving averages (respectively at 25778 and 25804).

• 

EUR/USD

• Intraday: bullish bias above 1.0700.

• Pivot: 1.0700

• Our preference: Long positions above 1.0700 with targets at 1.0730 & 1.0745 in extension.

• Alternative scenario: Below 1.0700 look for further downside with 1.0685 & 1.0670 as targets.

• Comment: The RSI calls for a new upleg.

• 

GBP/USD

• Intraday: the upside prevails.

• Pivot: 1.2465

• Our preference: Long positions above 1.2465 with targets at 1.2510 & 1.2530 in extension.

• Alternative scenario: Below 1.2465 look for further downside with 1.2450 & 1.2430 as targets.

• Comment: The RSI calls for a new upleg.

• 

USD/JPY

• Intraday: the downside prevails.

• Pivot: 147.35

• Our preference: Short positions below 147.35 with targets at 146.55 & 146.30 in extension.

• Alternative scenario: Above 147.35 look for further upside with 147.60 & 147.85 as targets.

• Comment: The RSI has broken down its 30 level.

• 

Gold

• Intraday: caution.

• Pivot: 1924.00

• Our preference: Short positions below 1924.00 with targets at 1918.00 & 1914.00 in extension.

• Alternative scenario: Above 1924.00 look for further upside with 1930.00 & 1934.00 as targets.

• Comment: The RSI is mixed and calls for caution.

• 

Dow Jones (CME)‎ (Z3)‎

• Intraday: intraday support around 34845.00.

• Pivot: 34845.00

• Our preference: Long positions above 34845.00 with targets at 35020.00 & 35120.00 in extension.

• Alternative scenario: Below 34845.00 look for further downside with 34760.00 & 34660.00 as targets.

• Comment: The next resistances are at 35020.00 and then at 35120.00.

• 

Brent (ICE)‎ (X3)‎

• Intraday: look for 89.30.

• Pivot: 90.95

• Our preference: Short positions below 90.95 with targets at 89.90 & 89.30 in extension.

• Alternative scenario: Above 90.95 look for further upside with 91.50 & 92.00 as targets.

• Comment: The RSI calls for a drop.

• 

Dollar Index (ICE)‎

• Intraday: choppy.

• Pivot: 105.1500

• Our preference: Short positions below 105.1500 with targets at 104.7600 & 104.6000 in extension.

• Alternative scenario: Above 105.1500 look for further upside with 105.3000 & 105.4500 as targets.

• Comment: The RSI is mixed with a bearish bias.

• 

Note: Please be aware that due to market volatility, some of the key levels may have already been reached and scenarios played out.

This market newsletter provides you with essential information on various currency pairs, commodities, and indices. Use these insights as a starting point for your trading research, and always exercise caution in the dynamic financial markets. Happy trading!