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INDEX Focus Summary 9 March 2010
EStoxx 50 (Mar 10) intraday

TRADING CENTRAL Preference:

LONG positions above 2810 with 2901 & 2930 as next targets.

Alternative scenario:

The downside penetration of 2810 will call for a slide towards 2800 & 2780.

Comment:

A consolidation is on going before a further upside.

FTSE 100 (Mar 10) intraday

TRADING CENTRAL Preference:

LONG positions @ 5555 with 5625 & 5650 as next targets.
Alternative scenario:

The downside breakout of 5525 will open the way to 5484 & 5400.

Comment:

The contract remains within an intraday consolidation pattern. Support @ 5555.
CAC 40 (Mar 10) intraday

TRADING CENTRAL Preference:

LONG positions above 3820 with 3975 & 4025 in sight.

Alternative scenario:

The downside penetration of 3820 will call for 3812 & 3788.

Comment:

A consolidation is on going before a further upside.

DAX (Mar 10) intraday

TRADING CENTRAL Preference:

LONG positions above 5775 with 5925 & 5973 in sight.
Alternative scenario:

The downside penetration of 5775 will call for 5750 & 5718.
Comment:

A consolidation is on going before a further upside.

FTSE MIB (Mar 10) intraday

TRADING CENTRAL Preference:

LONG positions @22180 with targets @ 22500 & 22700.
Alternative scenario:

The downside penetration of 21900 will call for 21550 & 21250.

Comment

30min indicators are up but losing momentum, the RSI has broken a support line, look for a pause.

IBEX (Mar 10) intraday

TRADING CENTRAL Preference:

LONG positions @ 10960 with 11124 & 11250 in sight.

Alternative scenario:

The downside penetration of 10790 will call for a slide towards 10650 & 10500.

Comment:

30min indicators are up but losing momentum, the RSI has broken a support line, look for a pause.

S & P 500 (Mar 10) intraday

TRADING CENTRAL Preference:

LONG positions @ 1131 with 1141 & 1148 in sight.

Alternative scenario:

The downside penetration of 1125 will call for 1111 & 1104.

Comment:

Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

Nasdaq 100 (Mar 10) intraday

TRADING CENTRAL Preference:

LONG positions @ 1870 with targets @ 1894 & 1900.

Alternative scenario:

The downside breakout of 1863 will open the way to 1843 & 1818.

Comment

The contract is challenging its resistance @ 1894. 30-min RSI doesn't show any clear reversal sign.

 
Dow Jones (Mar 10) intraday

TRADING CENTRAL Preference:

LONG positions @ 10467 with 10580 & 10638 in sight.
Alternative scenario:

The downside penetration of 10436 will call for 10350 & 10255.
Comment:

Even though a consolidation cannot be ruled out, its extent should be limited by the support base around 10467/10436.

 


FOREX Focus Summary
EUR/USD intraday

TRADING CENTRAL Preference:

SHORT positions @1.3685 with 1.358 & 1.353 in sight.
Alternative scenario:

The upside penetration of 1.3695 will call for 1.374 & 1.3795.

Comment

The pair has struck against its wide range upper boundary and remains under pressure as the RSI is badly directed.

USD/JPY intraday

TRADING CENTRAL Preference:

ONG positions @ 89.8 with 90.25 & 90.75 as next targets.

Alternative scenario:

The downside penetration of 89.75 will call for 89.5 & 89.25.

Comment:

The pair should rebound on its support as the RSI is turning up.

GBP/USD intraday

TRADING CENTRAL Preference:

SHORT positions @1.5105 with 1.497 & 1.488 as next targets.

Alternative scenario:

The upside breakout of 1.5115 will open the way to 1.517 & 1.52.
Comment:

The pair has broken below its bullish channel lower boundary and is challenging its support.


Fixed Income Summary
BUND (Jun 10) intraday

TRADING CENTRAL Preference:

LONG positions @ 122.35 with targets @ 122.8 & 123.05.

Alternative scenario:

The downside penetration of 122.3 will call for a slide towards 122.2 & 122.
Comment:

The RSI is turning up, the contract should post a rebound towards its next resistance.
GILT(Jun 10) intraday

TRADING CENTRAL Preference:

LONG positions @113.75 with 114.25 & 114.5 as next targets.
Alternative scenario:

The downside penetration of 113.7 will call for a slide towards 113.35 & 113.
Comment:

The contract should rebound on its support as the RSI is turning up.
Contact: Trading Desk Spread Trading: +27 11 214 8101 - CFD Trading: +27 11 214 8102 - Email: info@gt247.com

Disclaimer
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