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Today's Trading Strategies
March 8, 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 downside prevails.
 
Pivot:
1.1860
 
Our preference:
Short positions below 1.1860 with targets at 1.1775 & 1.1750 in extension.
 
Alternative scenario:
Above 1.1860 look for further upside with 1.1900 & 1.1935 as targets.
 
Comment:
The RSI has broken down its 30 level.
 
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AUD/USD Intraday: key resistance at 0.6610.
 
Pivot:
0.6610
 
Our preference:
Short positions below 0.6610 with targets at 0.6550 & 0.6530 in extension.
 
Alternative scenario:
Above 0.6610 look for further upside with 0.6635 & 0.6660 as targets.
 
Comment:
As long as the resistance at 0.6610 is not surpassed, the risk of the break below 0.6550 remains high.
 
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Gold Intraday: under pressure.
 
Pivot:
1823.00
 
Our preference:
Short positions below 1823.00 with targets at 1806.00 & 1796.00 in extension.
 
Alternative scenario:
Above 1823.00 look for further upside with 1829.00 & 1838.00 as targets.
 
Comment:
The RSI has broken down its 30 level.
 
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USD/JPY Intraday: the upside prevails.
 
Pivot:
137.15
 
Our preference:
Long positions above 137.15 with targets at 138.10 & 138.45 in extension.
 
Alternative scenario:
Below 137.15 look for further downside with 136.80 & 136.45 as targets.
 
Comment:
The RSI is bullish and calls for further upside.
 
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Nasdaq 100 (CME)‎ (H3)‎ Intraday: key resistance at 12280.00.
 
Pivot:
12280.00
 
Our preference:
Short positions below 12280.00 with targets at 12062.00 & 11990.00 in extension.
 
Alternative scenario:
Above 12280.00 look for further upside with 12370.00 & 12456.00 as targets.
 
Comment:
The RSI is bearish and calls for further decline.
 
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Dow Jones (CME)‎ (H3)‎ Intraday: look for 32580.00.
 
Pivot:
33100.00
 
Our preference:
Short positions below 33100.00 with targets at 32770.00 & 32580.00 in extension.
 
Alternative scenario:
Above 33100.00 look for further upside with 33350.00 & 33585.00 as targets.
 
Comment:
The RSI has broken down its 30 level.
 
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GBP/JPY intraday: rebound
 
162.07 is our pivot point.
 
Our preference:
Rebound.
 
Alternative scenario:
The downside breakout of 162.07 would call for 161.36 and 160.93.
 
Comment:
The RSI is above 50. The MACD is above its signal line and negative. The MACD must break above its zero level to call for further upside. Moreover, the price is trading above its 20 period moving average (162.34) but under its 50 period moving average (162.86).
 
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