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Today's Trading Strategies
March 20, 2023
 
   
 
AUD/USD   Gold   GBP/USD   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.
 
 
     
 
AUD/USD Intraday: caution.
 
Pivot:
0.6675
 
Our preference:
Long positions above 0.6675 with targets at 0.6730 & 0.6750 in extension.
 
Alternative scenario:
Below 0.6675 look for further downside with 0.6655 & 0.6635 as targets.
 
Comment:
Intraday technical indicators are mixed and call for caution.
 
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Gold Intraday: bullish bias above 1964.00.
 
Pivot:
1964.00
 
Our preference:
Long positions above 1964.00 with targets at 1990.00 & 2000.00 in extension.
 
Alternative scenario:
Below 1964.00 look for further downside with 1955.00 & 1945.00 as targets.
 
Comment:
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
 
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GBP/USD Intraday: the bias remains bullish.
 
Pivot:
1.2140
 
Our preference:
Long positions above 1.2140 with targets at 1.2220 & 1.2250 in extension.
 
Alternative scenario:
Below 1.2140 look for further downside with 1.2110 & 1.2080 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: under pressure.
 
Pivot:
132.70
 
Our preference:
Short positions below 132.70 with targets at 131.55 & 131.10 in extension.
 
Alternative scenario:
Above 132.70 look for further upside with 133.30 & 133.80 as targets.
 
Comment:
As long as the resistance at 132.70 is not surpassed, the risk of the break below 131.55 remains high.
 
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Nasdaq 100 (CME)‎ (M3)‎ Intraday: bullish bias above 12570.00.
 
Pivot:
12570.00
 
Our preference:
Long positions above 12570.00 with targets at 12810.00 & 12950.00 in extension.
 
Alternative scenario:
Below 12570.00 look for further downside with 12450.00 & 12370.00 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)‎ (M3)‎ Intraday: bullish bias above 31950.00.
 
Pivot:
31950.00
 
Our preference:
Long positions above 31950.00 with targets at 32330.00 & 32570.00 in extension.
 
Alternative scenario:
Below 31950.00 look for further downside with 31770.00 & 31670.00 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: under pressure below 161.30
 
161.30 is our pivot point.
 
Our preference:
Under pressure below 161.30.
 
Alternative scenario:
Above 161.30, look for 162.01 and 162.43.
 
Comment:
The RSI is below 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the price stands below its 20 and 50 period moving average (respectively at 160.92 and 161.11).
 
Analyst Views Chart
 
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