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Today's Trading Strategies
March 9, 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: bullish bias above 1.1815.
 
Pivot:
1.1815
 
Our preference:
Long positions above 1.1815 with targets at 1.1860 & 1.1890 in extension.
 
Alternative scenario:
Below 1.1815 look for further downside with 1.1790 & 1.1770 as targets.
 
Comment:
Technically the RSI is above its neutrality area at 50.
 
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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 0.6570 & 0.6545 in extension.
 
Alternative scenario:
Above 0.6610 look for further upside with 0.6630 & 0.6650 as targets.
 
Comment:
As long as 0.6610 is resistance, look for choppy price action with a bearish bias.
 
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Gold Intraday: the downside prevails.
 
Pivot:
1823.00
 
Our preference:
Short positions below 1823.00 with targets at 1809.00 & 1802.00 in extension.
 
Alternative scenario:
Above 1823.00 look for further upside with 1829.00 & 1834.00 as targets.
 
Comment:
The RSI advocates for further decline.
 
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USD/JPY Intraday: towards 136.45.
 
Pivot:
137.35
 
Our preference:
Short positions below 137.35 with targets at 136.75 & 136.45 in extension.
 
Alternative scenario:
Above 137.35 look for further upside with 137.65 & 137.90 as targets.
 
Comment:
A break below 136.75 would trigger a drop towards 136.45.
 
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Nasdaq 100 (CME)‎ (H3)‎ Intraday: bullish bias above 12140.00.
 
Pivot:
12140.00
 
Our preference:
Long positions above 12140.00 with targets at 12260.00 & 12310.00 in extension.
 
Alternative scenario:
Below 12140.00 look for further downside with 12080.00 & 12010.00 as targets.
 
Comment:
A support base at 12140.00 has formed and has allowed for a temporary stabilisation.
 
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Dow Jones (CME)‎ (H3)‎ Intraday: rebound expected.
 
Pivot:
32630.00
 
Our preference:
Long positions above 32630.00 with targets at 32940.00 & 33030.00 in extension.
 
Alternative scenario:
Below 32630.00 look for further downside with 32530.00 & 32410.00 as targets.
 
Comment:
A support base at 32630.00 has formed and has allowed for a temporary stabilisation.
 
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GBP/JPY intraday: the downside prevails as long as 162.84 is resistance
 
Our pivot point stands at 162.84.
 
Our preference:
The downside prevails as long as 162.84 is resistance.
 
Alternative scenario:
Above 162.84, look for 163.55 and 163.97.
 
Comment:
The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 162.40 and 162.50).
 
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