Daily Market Newsletter - September 6, 2023

DAILY MARKET NEWSLETTER

September 6, 2023

Discover today's directional views curated by the international research teams at Everything Trading! These insights serve as your launchpad for conducting research to pinpoint opportunities that align with your strategies. If you find value in these insights, don't hesitate to share them with a friend!

EUR/USD Intraday: caution.

• Pivot: 1.0745

• Our preference: Short positions below 1.0745 with targets at 1.0705 & 1.0685 in extension.

• Alternative scenario: Above 1.0745 look for further upside with 1.0770 & 1.0795 as targets.

• Comment: Intraday technical indicators are mixed and call for caution.

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GBP/USD Intraday: caution.

• Pivot: 1.2585

• Our preference: Short positions below 1.2585 with targets at 1.2545 & 1.2525 in extension.

• Alternative scenario: Above 1.2585 look for further upside with 1.2610 & 1.2640 as targets.

• Comment: Intraday technical indicators are mixed and call for caution.

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USD/JPY Intraday: under pressure.

• Pivot: 147.80

• Our preference: Short positions below 147.80 with targets at 146.90 & 146.60 in extension.

• Alternative scenario: Above 147.80 look for further upside with 148.00 & 148.20 as targets.

• Comment: The RSI shows downside momentum.

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Dow Jones (CME)‎ (U3)‎ Intraday: the downside prevails.

• Pivot: 34825.00

• Our preference: Short positions below 34825.00 with targets at 34580.00 & 34480.00 in extension.

• Alternative scenario: Above 34825.00 look for further upside with 34970.00 & 35080.00 as targets.

• Comment: The RSI shows downside momentum.

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Gold Intraday: capped by a negative trend line.

• Pivot: 1934.00

• Our preference: Short positions below 1934.00 with targets at 1920.00 & 1915.00 in extension.

• Alternative scenario: Above 1934.00 look for further upside with 1939.00 & 1946.00 as targets.

• Comment: As long as 1934.00 is resistance, likely decline to 1920.00.

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Brent (ICE)‎ (X3)‎ Intraday: aim @ 92.00.

• Pivot: 89.00

• Our preference: Long positions above 89.00 with targets at 91.10 & 92.00 in extension.

• Alternative scenario: Below 89.00 look for further downside with 88.10 & 87.40 as targets.

• Comment: The RSI is above its neutrality area at 50%.

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Bitcoin / Dollar intraday: as long as 25530 is support look for 26310

• Our pivot point is at 25530.

• Our preference: As long as 25530 is support look for 26310.

• Alternative scenario: Below 25530, expect 25230 and 25050.

• Comment: The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The price could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 25763 and 25737).

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