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Today's Trading Strategies
March 21, 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: under pressure.
 
Pivot:
0.6730
 
Our preference:
Short positions below 0.6730 with targets at 0.6665 & 0.6645 in extension.
 
Alternative scenario:
Above 0.6730 look for further upside with 0.6750 & 0.6770 as targets.
 
Comment:
The RSI shows downside momentum.
 
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Gold Intraday: consolidation.
 
Pivot:
1989.00
 
Our preference:
Short positions below 1989.00 with targets at 1965.00 & 1955.00 in extension.
 
Alternative scenario:
Above 1989.00 look for further upside with 2000.00 & 2009.00 as targets.
 
Comment:
The RSI is mixed with a bearish bias.
 
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GBP/USD Intraday: bullish bias above 1.2235.
 
Pivot:
1.2235
 
Our preference:
Long positions above 1.2235 with targets at 1.2300 & 1.2330 in extension.
 
Alternative scenario:
Below 1.2235 look for further downside with 1.2200 & 1.2165 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: capped by a negative trend line.
 
Pivot:
131.85
 
Our preference:
Short positions below 131.85 with targets at 130.90 & 130.50 in extension.
 
Alternative scenario:
Above 131.85 look for further upside with 132.25 & 132.65 as targets.
 
Comment:
A break below 130.90 would trigger a drop towards 130.50.
 
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Nasdaq 100 (CME)‎ (M3)‎ Intraday: intraday support around 12520.00.
 
Pivot:
12520.00
 
Our preference:
Long positions above 12520.00 with targets at 12810.00 & 12950.00 in extension.
 
Alternative scenario:
Below 12520.00 look for further downside with 12400.00 & 12310.00 as targets.
 
Comment:
The RSI is above its neutrality area at 50%.
 
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Dow Jones (CME)‎ (M3)‎ Intraday: bullish bias above 32220.00.
 
Pivot:
32220.00
 
Our preference:
Long positions above 32220.00 with targets at 32650.00 & 32900.00 in extension.
 
Alternative scenario:
Below 32220.00 look for further downside with 32040.00 & 31640.00 as targets.
 
Comment:
The RSI is above its neutrality area at 50%.
 
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GBP/JPY intraday: eye 159.60
 
Our pivot point is at 161.51.
 
Our preference:
Eye 159.60.
 
Alternative scenario:
The upside breakout of 161.51, would call for 162.22 and 162.64.
 
Comment:
The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the pair is trading under its 20 period moving average (161.17) but above its 50 period moving average (160.82).
 
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