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Today's Trading Strategies
March 24, 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: key resistance at 0.6700.
 
Pivot:
0.6700
 
Our preference:
Short positions below 0.6700 with targets at 0.6650 & 0.6630 in extension.
 
Alternative scenario:
Above 0.6700 look for further upside with 0.6720 & 0.6740 as targets.
 
Comment:
As long as the resistance at 0.6700 is not surpassed, the risk of the break below 0.6650 remains high.
 
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Gold Intraday: bullish bias above 1978.00.
 
Pivot:
1978.00
 
Our preference:
Long positions above 1978.00 with targets at 2003.00 & 2009.00 in extension.
 
Alternative scenario:
Below 1978.00 look for further downside with 1971.00 & 1964.00 as targets.
 
Comment:
The RSI is above its neutrality area at 50%.
 
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GBP/USD Intraday: key resistance at 1.2300.
 
Pivot:
1.2300
 
Our preference:
Short positions below 1.2300 with targets at 1.2245 & 1.2220 in extension.
 
Alternative scenario:
Above 1.2300 look for further upside with 1.2325 & 1.2345 as targets.
 
Comment:
As long as 1.2300 is resistance, look for choppy price action with a bearish bias.
 
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USD/JPY Intraday: 130.00 in sight.
 
Pivot:
130.95
 
Our preference:
Short positions below 130.95 with targets at 130.00 & 129.60 in extension.
 
Alternative scenario:
Above 130.95 look for further upside with 131.55 & 132.00 as targets.
 
Comment:
A break below 130.00 would trigger a drop towards 129.60.
 
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Nasdaq 100 (CME)‎ (M3)‎ Intraday: key resistance at 12920.00.
 
Pivot:
12920.00
 
Our preference:
Short positions below 12920.00 with targets at 12785.00 & 12730.00 in extension.
 
Alternative scenario:
Above 12920.00 look for further upside with 12990.00 & 13060.00 as targets.
 
Comment:
As long as 12920.00 is resistance, look for choppy price action with a bearish bias.
 
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Dow Jones (CME)‎ (M3)‎ Intraday: key resistance at 32440.00.
 
Pivot:
32440.00
 
Our preference:
Short positions below 32440.00 with targets at 32220.00 & 32040.00 in extension.
 
Alternative scenario:
Above 32440.00 look for further upside with 32650.00 & 32820.00 as targets.
 
Comment:
The RSI is below its neutrality area at 50%
 
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GBP/JPY intraday: the downside prevails as long as 160.74 is resistance
 
Our pivot point stands at 160.74.
 
Our preference:
The downside prevails as long as 160.74 is resistance.
 
Alternative scenario:
The upside breakout of 160.74, would call for 161.43 and 161.84.
 
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 is trading under both its 20 and 50 period moving average (respectively at 160.46 and 160.96).
 
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