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Thursday 18 January 2024

Daily Technical Trading Strategies

GBP/USD   EUR/USD   USD/JPY   AUD/USD   USD/CAD   Gold   Crude Oil (WTI)   Dow Jones (CME)   Dax (Eurex)   Bitcoin / USD  
 
 
 
GBP/USD Intraday: bullish bias above 1.2655.
 
Pivot:
1.2655
 
Our preference:
Long positions above 1.2655 with targets at 1.2715 & 1.2740 in extension.
 
Alternative scenario:
Below 1.2655 look for further downside with 1.2635 & 1.2615 as targets.
 
Comment:
The RSI shows upside momentum.
 
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EUR/USD Intraday: continuation of the rebound.
 
Pivot:
1.0865
 
Our preference:
Long positions above 1.0865 with targets at 1.0915 & 1.0935 in extension.
 
Alternative scenario:
Below 1.0865 look for further downside with 1.0845 & 1.0825 as targets.
 
Comment:
The RSI shows upside momentum.
 
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USD/JPY Intraday: bullish bias above 147.60.
 
Pivot:
147.60
 
Our preference:
Long positions above 147.60 with targets at 148.50 & 148.80 in extension.
 
Alternative scenario:
Below 147.60 look for further downside with 147.30 & 147.05 as targets.
 
Comment:
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
 
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AUD/USD Intraday: the upside prevails.
 
Pivot:
0.6530
 
Our preference:
Long positions above 0.6530 with targets at 0.6580 & 0.6600 in extension.
 
Alternative scenario:
Below 0.6530 look for further downside with 0.6510 & 0.6490 as targets.
 
Comment:
The RSI shows upside momentum.
 
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USD/CAD Intraday: under pressure.
 
Pivot:
1.3515
 
Our preference:
Short positions below 1.3515 with targets at 1.3470 & 1.3455 in extension.
 
Alternative scenario:
Above 1.3515 look for further upside with 1.3535 & 1.3555 as targets.
 
Comment:
The RSI shows downside momentum.
 
Analyst Views Chart
 
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Gold Intraday: key resistance at 2017.00.
 
Pivot:
2017.00
 
Our preference:
Short positions below 2017.00 with targets at 2001.00 & 1995.00 in extension.
 
Alternative scenario:
Above 2017.00 look for further upside with 2023.00 & 2029.00 as targets.
 
Comment:
As long as the resistance at 2017.00 is not surpassed, the risk of the break below 2001.00 remains high.
 
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Crude Oil (WTI)‎ (G4)‎ Intraday: the upside prevails.
 
Pivot:
72.30
 
Our preference:
Long positions above 72.30 with targets at 73.55 & 74.10 in extension.
 
Alternative scenario:
Below 72.30 look for further downside with 71.60 & 71.15 as targets.
 
Comment:
The next resistances are at 73.55 and then at 74.10.
 
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Dow Jones (CME)‎ (H4)‎ Intraday: choppy.
 
Pivot:
37560.00
 
Our preference:
Short positions below 37560.00 with targets at 37360.00 & 37260.00 in extension.
 
Alternative scenario:
Above 37560.00 look for further upside with 37650.00 & 37730.00 as targets.
 
Comment:
The RSI is around its neutrality area at 50%
 
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Dax (Eurex)‎ Intraday: intraday support around 16430.00.
 
Pivot:
16430.00
 
Our preference:
Long positions above 16430.00 with targets at 16600.00 & 16655.00 in extension.
 
Alternative scenario:
Below 16430.00 look for further downside with 16370.00 & 16310.00 as targets.
 
Comment:
The RSI lacks downward momentum.
 
Analyst Views Chart
 
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Bitcoin / Dollar intraday: the upside prevails as long as 42080 is support
 
Our pivot point is at 42080.
 
Our preference:
The upside prevails as long as 42080 is support.
 
Alternative scenario:
The downside breakout of 42080 would call for 41340 and 40900.
 
Comment:
The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 42637 and 42630).
 
Analyst Views Chart
 
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