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Today's Trading Strategies
February 24, 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: watch 1.1990.
 
Pivot:
1.2065
 
Our preference:
Short positions below 1.2065 with targets at 1.1990 & 1.1960 in extension.
 
Alternative scenario:
Above 1.2065 look for further upside with 1.2105 & 1.2145 as targets.
 
Comment:
A break below 1.1990 would trigger a drop towards 1.1960.
 
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AUD/USD Intraday: key resistance at 0.6840.
 
Pivot:
0.6840
 
Our preference:
Short positions below 0.6840 with targets at 0.6780 & 0.6765 in extension.
 
Alternative scenario:
Above 0.6840 look for further upside with 0.6865 & 0.6890 as targets.
 
Comment:
Even though a continuation of the technical rebound cannot be ruled out, its extent should be limited.
 
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Gold Intraday: key resistance at 1829.00.
 
Pivot:
1829.00
 
Our preference:
Short positions below 1829.00 with targets at 1818.00 & 1813.00 in extension.
 
Alternative scenario:
Above 1829.00 look for further upside with 1834.00 & 1839.00 as targets.
 
Comment:
As long as the resistance at 1829.00 is not surpassed, the risk of the break below 1818.00 remains high.
 
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USD/JPY Intraday: choppy.
 
Pivot:
135.00
 
Our preference:
Short positions below 135.00 with targets at 134.20 & 133.90 in extension.
 
Alternative scenario:
Above 135.00 look for further upside with 135.35 & 135.65 as targets.
 
Comment:
As long as the resistance at 135.00 is not surpassed, the risk of the break below 134.20 remains high.
 
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Nasdaq 100 (CME)‎ (H3)‎ Intraday: the upside prevails.
 
Pivot:
12100.00
 
Our preference:
Long positions above 12100.00 with targets at 12260.00 & 12330.00 in extension.
 
Alternative scenario:
Below 12100.00 look for further downside with 12030.00 & 11970.00 as targets.
 
Comment:
Technically the RSI is above its neutrality area at 50.
 
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Dow Jones (CME)‎ (H3)‎ Intraday: the bias remains bullish.
 
Pivot:
32980.00
 
Our preference:
Long positions above 32980.00 with targets at 33290.00 & 33420.00 in extension.
 
Alternative scenario:
Below 32980.00 look for further downside with 32820.00 & 32690.00 as targets.
 
Comment:
Technically the RSI is above its neutrality area at 50.
 
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GBP/JPY intraday: rebound towards 163.54
 
Our pivot point is at 161.22.
 
Our preference:
Rebound towards 163.54.
 
Alternative scenario:
Below 161.22, expect 160.38 and 159.88.
 
Comment:
The RSI is below 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price stands above its 20 period moving average (161.79) but below its 50 period moving average (162.21).
 
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