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Today's Trading Strategies
February 28, 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: the upside prevails.
 
Pivot:
1.2010
 
Our preference:
Long positions above 1.2010 with targets at 1.2100 & 1.2135 in extension.
 
Alternative scenario:
Below 1.2010 look for further downside with 1.1970 & 1.1930 as targets.
 
Comment:
Technically the RSI is above its neutrality area at 50.
 
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AUD/USD Intraday: continuation of the rebound.
 
Pivot:
0.6700
 
Our preference:
Long positions above 0.6700 with targets at 0.6760 & 0.6790 in extension.
 
Alternative scenario:
Below 0.6700 look for further downside with 0.6675 & 0.6650 as targets.
 
Comment:
The next resistances are at 0.6760 and then at 0.6790.
 
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Gold Intraday: the bias remains bullish.
 
Pivot:
1811.00
 
Our preference:
Long positions above 1811.00 with targets at 1821.00 & 1827.00 in extension.
 
Alternative scenario:
Below 1811.00 look for further downside with 1806.00 & 1800.00 as targets.
 
Comment:
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
 
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USD/JPY Intraday: key resistance at 136.50.
 
Pivot:
136.50
 
Our preference:
Short positions below 136.50 with targets at 135.90 & 135.70 in extension.
 
Alternative scenario:
Above 136.50 look for further upside with 136.75 & 137.00 as targets.
 
Comment:
As long as the resistance at 136.50 is not surpassed, the risk of the break below 135.90 remains high.
 
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Nasdaq 100 (CME)‎ (H3)‎ Intraday: key resistance at 12140.00.
 
Pivot:
12140.00
 
Our preference:
Short positions below 12140.00 with targets at 12050.00 & 12000.00 in extension.
 
Alternative scenario:
Above 12140.00 look for further upside with 12190.00 & 12250.00 as targets.
 
Comment:
The upward potential is likely to be limited by the resistance at 12140.00.
 
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Dow Jones (CME)‎ (H3)‎ Intraday: key resistance at 33040.00.
 
Pivot:
33040.00
 
Our preference:
Short positions below 33040.00 with targets at 32830.00 & 32750.00 in extension.
 
Alternative scenario:
Above 33040.00 look for further upside with 33130.00 & 33210.00 as targets.
 
Comment:
The upward potential is likely to be limited by the resistance at 33040.00.
 
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GBP/JPY intraday: as long as 163.53 is support look for 165.81
 
Our pivot point stands at 163.53.
 
Our preference:
As long as 163.53 is support look for 165.81.
 
Alternative scenario:
Below 163.53, expect 162.68 and 162.17.
 
Comment:
The RSI is above its neutrality area at 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 164.21 and 163.52).
 
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