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Today's Trading Strategies
February 21, 2023
 
   
 
GBP/USD   AUD/USD   Gold   USD/JPY   Nasdaq 100 (CME)   Dow Jones (CME)   GBP/JPY  
 
 
 
 
  Please note that due to market volatility, some of the key levels may have already been reached and scenarios played out.
 
 
     
 
GBP/USD Intraday: caution.
 
Pivot:
1.2010
 
Our preference:
Long positions above 1.2010 with targets at 1.2045 & 1.2065 in extension.
 
Alternative scenario:
Below 1.2010 look for further downside with 1.1990 & 1.1970 as targets.
 
Comment:
A support base at 1.2010 has formed and has allowed for a temporary stabilisation.
 
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AUD/USD Intraday: caution.
 
Pivot:
0.6880
 
Our preference:
Long positions above 0.6880 with targets at 0.6920 & 0.6935 in extension.
 
Alternative scenario:
Below 0.6880 look for further downside with 0.6860 & 0.6840 as targets.
 
Comment:
Intraday technical indicators are mixed and call for caution.
 
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Gold Intraday: caution.
 
Pivot:
1837.00
 
Our preference:
Long positions above 1837.00 with targets at 1848.00 & 1853.00 in extension.
 
Alternative scenario:
Below 1837.00 look for further downside with 1830.00 & 1824.00 as targets.
 
Comment:
The RSI is mixed and calls for caution.
 
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USD/JPY Intraday: key resistance at 134.55.
 
Pivot:
134.55
 
Our preference:
Short positions below 134.55 with targets at 134.10 & 133.90 in extension.
 
Alternative scenario:
Above 134.55 look for further upside with 134.80 & 135.10 as targets.
 
Comment:
The upward potential is likely to be limited by the resistance at 134.55.
 
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Nasdaq 100 (CME)‎ (H3)‎ Intraday: bullish bias above 12270.00.
 
Pivot:
12270.00
 
Our preference:
Long positions above 12270.00 with targets at 12440.00 & 12520.00 in extension.
 
Alternative scenario:
Below 12270.00 look for further downside with 12140.00 & 12000.00 as targets.
 
Comment:
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
 
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Dow Jones (CME)‎ (H3)‎ Intraday: bullish bias above 33550.00.
 
Pivot:
33550.00
 
Our preference:
Long positions above 33550.00 with targets at 33920.00 & 34097.00 in extension.
 
Alternative scenario:
Below 33550.00 look for further downside with 33430.00 & 33300.00 as targets.
 
Comment:
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
 
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GBP/JPY intraday: as long as 160.87 is support look for 163.30
 
160.87 is our pivot point.
 
Our preference:
As long as 160.87 is support look for 163.30.
 
Alternative scenario:
The downside breakout of 160.87 would call for 159.96 and 159.43.
 
Comment:
The RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 161.60 and 161.47).
 
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