FRA40 - 24h expiry
There is no clear indication that the downward move is coming to an end. Further downside is expected.
A higher correction is expected.
Risk/Reward would be poor to call a sell from current levels.
A move through 7000 will confirm the bearish momentum.
We look to Sell at 7100 (stop at 7150)
Our profit targets will be 6975 and 6950...
FRA40 - 24h expiry
Price action has continued to trend strongly lower and has stalled at the previous support near 7025.
Price action looks to be forming a bottom.
We expect a reversal in this move.
Risk/Reward would be poor to call a buy from current levels.
A move through 7100 will confirm the bullish momentum.
We look to Buy at 7025 (stop at 6975)
Our...
FRA40 - 24h expiry
There is no clear indication that the downward move is coming to an end.
Further downside is expected.
Risk/Reward would be poor to call a sell from current levels.
A move through 7170 will confirm the bearish momentum.
The RSI is trending lower.
We look to Sell at 7230 (stop at 7280)
Our profit targets will be 7110 and 7080...
Pivot: 4280.00
Our preference:
long positions above 4280.00 with targets at 4341.00 & 4358.00 in extension.
Alternative scenario:
below 4280.00 look for further downside with 4257.00 & 4237.00 as targets.
Comment:
the RSI is bullish and calls for further advance
FRA40 - 24h expiry
The correction higher is assessed as being complete.
Further downside is expected.
Risk/Reward would be poor to call a sell from current levels.
A move through 7300 will confirm the bearish momentum.
The RSI is trending lower.
We look to Sell at 7370 (stop at 7420)
Our profit targets will be 7250 and 7225
Resistance: 7350 / 7370 /...
Pivot: 7280.00
Our preference:
short positions below 7280.00 with targets at 7180.00 & 7120.00 in extension.
Alternative scenario:
above 7280.00 look for further upside with 7325.00 & 7380.00 as targets.
Comment:
as long as 7280.00 is resistance, look for choppy price action with a bearish bias.
FRA40 - 24h expiry
There is no indication that the selloff is coming to an end.
Short-term RSI has turned negative.
Further downside is expected.
Risk/Reward would be poor to call a sell from current levels.
A move through 7150 will confirm the bearish momentum.
We look to Sell at 7225 (stop at 7275)
Our profit targets will be 7105 and 7075
Resistance:...
Pivot: 7300.00
Our preference:
short positions below 7300.00 with targets at 7226.00 & 7100.00 in extension.
Alternative scenario:
above 7300.00 look for further upside with 7320.00 & 7380.00 as targets.
Comment:
as long as 7300.00 is resistance, look for choppy price action with a bearish bias.
Pivot: 7315.00
Our preference:
long positions above 7315.00 with targets at 7407.00 & 7450.00 in extension.
Alternative scenario:
below 7315.00 look for further downside with 7270.00 & 7214.00 as targets.
Comment:
the RSI lacks momentum.
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FRA40 - 24h expiry
The move higher is mixed and volatile, common in corrective sequences.
We expect a reversal in this move.
Risk/Reward would be poor to call a sell from current levels.
A move through 7300 will confirm the bearish momentum.
The measured move target is 7200.
We look to Sell at 7350 (stop at 7390)
Our profit targets will be 7250 and 7200...
Pivot: 7195.00
Our preference:
long positions above 7195.00 with targets at 7330.00 & 7375.00 in extension.
Alternative scenario:
below 7195.00 look for further downside with 7145.00 & 7080.00 as targets.
Comment:
a support base at 7195.00 has formed and has allowed for a temporary stabilization.
Pivot: 7395.00
Our preference:
short positions below 7395.00 with targets at 7215.00 & 7130.00 in extension.
Alternative scenario:
above 7395.00 look for further upside with 7440.00 & 7485.00 as targets.
Comment:
as long as the resistance at 7395.00 is not surpassed, the risk of the break below 7215.00 remains high.
Pivot: 7420.00
Our preference:
long positions above 7420.00 with targets at 7507.00 & 7555.00 in extension.
Alternative scenario:
below 7420.00 look for further downside with 7354.00 & 7300.00 as targets.
Comment:
the RSI is above its neutrality area at 50%.
Pivot: 7336.00
Our preference:
long positions above 7336.00 with targets at 7464.00 & 7500.00 in extension.
Alternative scenario:
below 7336.00 look for further downside with 7300.00 & 7270.00 as targets.
Comment:
a support base at 7336.00 has formed and has allowed for a temporary stabilization.
Pivot: 7387.00
Our preference:
short positions below 7387.00 with targets at 7310.00 & 7270.00 in extension.
Alternative scenario:
above 7387.00 look for further upside with 7415.00 & 7440.00 as targets.
Comment:
as long as 7387.00 is resistance, look for choppy price action with a bearish bias.
