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Today's Trading Strategies
March 10, 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:
1.1890
 
Our preference:
Long positions above 1.1890 with targets at 1.1945 & 1.1975 in extension.
 
Alternative scenario:
Below 1.1890 look for further downside with 1.1860 & 1.1830 as targets.
 
Comment:
Technically the RSI is above its neutrality area at 50.
 
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AUD/USD Intraday: under pressure.
 
Pivot:
0.6605
 
Our preference:
Short positions below 0.6605 with targets at 0.6545 & 0.6520 in extension.
 
Alternative scenario:
Above 0.6605 look for further upside with 0.6625 & 0.6650 as targets.
 
Comment:
The break below 0.6605 is a negative signal that has opened a path to 0.6545.
 
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Gold Intraday: bullish bias above 1822.00.
 
Pivot:
1822.00
 
Our preference:
Long positions above 1822.00 with targets at 1835.00 & 1842.00 in extension.
 
Alternative scenario:
Below 1822.00 look for further downside with 1815.00 & 1809.00 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: rebound.
 
Pivot:
135.90
 
Our preference:
Long positions above 135.90 with targets at 137.10 & 137.45 in extension.
 
Alternative scenario:
Below 135.90 look for further downside with 135.60 & 135.30 as targets.
 
Comment:
A support base at 135.90 has formed and has allowed for a temporary stabilisation.
 
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Nasdaq 100 (CME)‎ (H3)‎ Intraday: the downside prevails.
 
Pivot:
12050.00
 
Our preference:
Short positions below 12050.00 with targets at 11880.00 & 11800.00 in extension.
 
Alternative scenario:
Above 12050.00 look for further upside with 12130.00 & 12200.00 as targets.
 
Comment:
The RSI has broken down its 30 level.
 
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Dow Jones (CME)‎ (H3)‎ Intraday: watch 31930.00.
 
Pivot:
32400.00
 
Our preference:
Short positions below 32400.00 with targets at 31930.00 & 31700.00 in extension.
 
Alternative scenario:
Above 32400.00 look for further upside with 32600.00 & 32790.00 as targets.
 
Comment:
A break below 31930.00 would trigger a drop towards 31700.00.
 
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GBP/JPY intraday: as long as 161.40 is support look for 164.46
 
161.40 is our pivot point.
 
Our preference:
As long as 161.40 is support look for 164.46.
 
Alternative scenario:
Below 161.40, expect 160.69 and 160.26.
 
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 above its 20 and 50 period moving average (respectively at 162.27 and 162.17).
 
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