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Today's Trading Strategies
March 1, 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: watch 1.1995.
 
Pivot:
1.2090
 
Our preference:
Short positions below 1.2090 with targets at 1.1995 & 1.1960 in extension.
 
Alternative scenario:
Above 1.2090 look for further upside with 1.2135 & 1.2170 as targets.
 
Comment:
A break below 1.1995 would trigger a drop towards 1.1960.
 
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AUD/USD Intraday: choppy.
 
Pivot:
0.6760
 
Our preference:
Short positions below 0.6760 with targets at 0.6710 & 0.6690 in extension.
 
Alternative scenario:
Above 0.6760 look for further upside with 0.6790 & 0.6825 as targets.
 
Comment:
The upward potential is likely to be limited by the resistance at 0.6760.
 
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Gold Intraday: further upside.
 
Pivot:
1821.00
 
Our preference:
Long positions above 1821.00 with targets at 1836.00 & 1843.00 in extension.
 
Alternative scenario:
Below 1821.00 look for further downside with 1814.00 & 1806.00 as targets.
 
Comment:
The RSI is bullish and calls for further advance.
 
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USD/JPY Intraday: caution.
 
Pivot:
136.60
 
Our preference:
Short positions below 136.60 with targets at 136.05 & 135.70 in extension.
 
Alternative scenario:
Above 136.60 look for further upside with 136.90 & 137.20 as targets.
 
Comment:
Intraday technical indicators are mixed and call for caution.
 
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Nasdaq 100 (CME)‎ (H3)‎ Intraday: key resistance at 12110.00.
 
Pivot:
12110.00
 
Our preference:
Short positions below 12110.00 with targets at 11990.00 & 11930.00 in extension.
 
Alternative scenario:
Above 12110.00 look for further upside with 12180.00 & 12250.00 as targets.
 
Comment:
As long as the resistance at 12110.00 is not surpassed, the risk of the break below 11990.00 remains high.
 
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Dow Jones (CME)‎ (H3)‎ Intraday: key resistance at 32840.00.
 
Pivot:
32840.00
 
Our preference:
Short positions below 32840.00 with targets at 32500.00 & 32400.00 in extension.
 
Alternative scenario:
Above 32840.00 look for further upside with 32920.00 & 33020.00 as targets.
 
Comment:
As long as the resistance at 32840.00 is not surpassed, the risk of the break below 32500.00 remains high.
 
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GBP/JPY intraday: rebound towards 165.39
 
Our pivot point stands at 163.18.
 
Our preference:
Rebound towards 165.39.
 
Alternative scenario:
Below 163.18, expect 162.40 and 161.94.
 
Comment:
The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 164.08 and 164.51).
 
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