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Tuesday, 9 January 2024

Daily Technical Trading Strategies


EUR/USD   GBP/USD   USD/JPY   AUD/USD   USD/CAD   Bitcoin / USD   Gold   Crude Oil (WTI)   Dow Jones (CME)   Dax (Eurex)  

 

 
EUR/USD Intraday: bullish bias above 1.0935.
 
Pivot:
1.0935
 
Our preference:
Long positions above 1.0935 with targets at 1.0980 & 1.1000 in extension.
 
Alternative scenario:
Below 1.0935 look for further downside with 1.0920 & 1.0900 as targets.
 
Comment:
The RSI lacks downward momentum.
 
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GBP/USD Intraday: the upside prevails.
 
Pivot:
1.2720
 
Our preference:
Long positions above 1.2720 with targets at 1.2770 & 1.2800 in extension.
 
Alternative scenario:
Below 1.2720 look for further downside with 1.2695 & 1.2670 as targets.
 
Comment:
The RSI lacks downward momentum.
 
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USD/JPY Intraday: consolidation.
 
Pivot:
144.30
 
Our preference:
Short positions below 144.30 with targets at 143.30 & 142.85 in extension.
 
Alternative scenario:
Above 144.30 look for further upside with 144.65 & 145.00 as targets.
 
Comment:
The RSI lacks upward momentum.
 
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AUD/USD Intraday: under pressure.
 
Pivot:
0.6735
 
Our preference:
Short positions below 0.6735 with targets at 0.6675 & 0.6660 in extension.
 
Alternative scenario:
Above 0.6735 look for further upside with 0.6750 & 0.6770 as targets.
 
Comment:
The RSI shows downside momentum.
 
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USD/CAD Intraday: consolidation.
 
Pivot:
1.3375
 
Our preference:
Short positions below 1.3375 with targets at 1.3330 & 1.3310 in extension.
 
Alternative scenario:
Above 1.3375 look for further upside with 1.3390 & 1.3405 as targets.
 
Comment:
The RSI lacks upward momentum.
 
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Bitcoin / Dollar intraday: as long as 46120 is support look for 48310
 
46120 is our pivot point.
 
Our preference:
As long as 46120 is support look for 48310.
 
Alternative scenario:
Below 46120, expect 45330 and 44850.
 
Comment:
The RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The price could retrace. Moreover, the price is below its 20 period moving average (46871) but above its 50 period moving average (45475).
 
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Gold Intraday: aim @ 2042.00.
 
Pivot:
2026.00
 
Our preference:
Long positions above 2026.00 with targets at 2042.00 & 2050.00 in extension.
 
Alternative scenario:
Below 2026.00 look for further downside with 2017.00 & 2011.00 as targets.
 
Comment:
The RSI is mixed to bullish.
 
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Crude Oil (WTI)‎ (G4)‎ Intraday: key resistance at 71.30.
 
Pivot:
71.30
 
Our preference:
Short positions below 71.30 with targets at 70.10 & 69.45 in extension.
 
Alternative scenario:
Above 71.30 look for further upside with 72.00 & 72.60 as targets.
 
Comment:
Technically the RSI is below its neutrality area at 50.
 
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Dow Jones (CME)‎ (H4)‎ Intraday: watch 37980.00.
 
Pivot:
37765.00
 
Our preference:
Long positions above 37765.00 with targets at 37980.00 & 38110.00 in extension.
 
Alternative scenario:
Below 37765.00 look for further downside with 37610.00 & 37470.00 as targets.
 
Comment:
The next resistances are at 37980.00 and then at 38110.00.
 
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Dax (Eurex)‎ Intraday: bullish bias above 16790.00.
 
Pivot:
16790.00
 
Our preference:
Long positions above 16790.00 with targets at 16946.00 & 17020.00 in extension.
 
Alternative scenario:
Below 16790.00 look for further downside with 16719.00 & 16650.00 as targets.
 
Comment:
The immediate trend remains up but the momentum is weak.
 
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USD/JPY: Falling Household spendings
 
Earlier this Tuesday, Japan's data showed that household spending fell 2.9% on year in November (vs -2.1% expected). Also, Tokyo's core inflation rate declined to 2.1% on year in December (vs 2.2% expected). JPY remains strong.
 
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