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Today's Trading Strategies
February 23, 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: key resistance at 1.2105.
 
Pivot:
1.2105
 
Our preference:
Short positions below 1.2105 with targets at 1.2015 & 1.1980 in extension.
 
Alternative scenario:
Above 1.2105 look for further upside with 1.2150 & 1.2190 as targets.
 
Comment:
As long as the resistance at 1.2105 is not surpassed, the risk of the break below 1.2015 remains high.
 
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AUD/USD Intraday: key resistance at 0.6845.
 
Pivot:
0.6845
 
Our preference:
Short positions below 0.6845 with targets at 0.6785 & 0.6765 in extension.
 
Alternative scenario:
Above 0.6845 look for further upside with 0.6865 & 0.6890 as targets.
 
Comment:
The upward potential is likely to be limited by the resistance at 0.6845.
 
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Gold Intraday: expect 1818.00.
 
Pivot:
1835.00
 
Our preference:
Short positions below 1835.00 with targets at 1823.00 & 1818.00 in extension.
 
Alternative scenario:
Above 1835.00 look for further upside with 1941.00 & 1947.00 as targets.
 
Comment:
As long as the resistance at 1835.00 is not surpassed, the risk of the break below 1823.00 remains high.
 
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USD/JPY Intraday: bullish bias above 134.45.
 
Pivot:
134.45
 
Our preference:
Long positions above 134.45 with targets at 135.20 & 135.50 in extension.
 
Alternative scenario:
Below 134.45 look for further downside with 134.20 & 133.90 as targets.
 
Comment:
A support base at 134.45 has formed and has allowed for a temporary stabilisation.
 
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Nasdaq 100 (CME)‎ (H3)‎ Intraday: rebound.
 
Pivot:
12060.00
 
Our preference:
Long positions above 12060.00 with targets at 12280.00 & 12360.00 in extension.
 
Alternative scenario:
Below 12060.00 look for further downside with 11980.00 & 11900.00 as targets.
 
Comment:
The RSI calls for a rebound.
 
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Dow Jones (CME)‎ (H3)‎ Intraday: rebound expected.
 
Pivot:
32980.00
 
Our preference:
Long positions above 32980.00 with targets at 33270.00 & 33400.00 in extension.
 
Alternative scenario:
Below 32980.00 look for further downside with 32800.00 & 32680.00 as targets.
 
Comment:
The RSI calls for a rebound.
 
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GBP/JPY intraday: the downside prevails as long as 163.21 is resistance
 
Our pivot point stands at 163.21.
 
Our preference:
The downside prevails as long as 163.21 is resistance.
 
Alternative scenario:
The upside breakout of 163.21, would call for 164.05 and 164.55.
 
Comment:
The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 162.69 and 163.04).
 
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